NEW YORK, May 22, 2020 /PRNewswire/ --
Europe Millets Market Forecast to 2027 - COVID-19 Impact and
Analysis by Product (Organic, Regular); Application (Infant Food,
Bakery Product, Breakfast Foods, Beverages, Fodder, Others);
Distribution Channel (Supermarket and Hypermarkets, Grocery Stores,
Online Stores, Others), and Country.
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The Europe millets market was
valued at US$ 1,327.96 million in
2018 and is expected to grow at a CAGR of 5.4% from 2019 to2027 to
reach US$ 2,132.00 million by
2027.
Millets are small-seeded grasses widely grown across the world as
cereal crops or grains for fodder and human food.Various types of
millet crops such as sorghum, finger millet, pearl millet, barnyard
millet, proso millet, and little millet are grown across the
globe.
These crops are grown in semiarid tropical regions as they are
highly drought tolerant in nature.For centuries, millets have
served as a major staple food in Asia and Africa.
Millets are no gluten food and are rich in nutrients such as
copper, magnesium, phosphorus, and manganese.The rich nutritional
content in millets helps in maintaining a healthy life.
Millets are an ideal food for people suffering from chronic
diseases such as diabetes and heart diseases. Millets are rich in
fiber, which helps in digestion and can relieve bowel issues.
Regular consumption of millets helps in preventing gastrointestinal
problems and other diseases related to kidney and liver. The
largest share of the breakfast food segment is attributed to the
increasing demand for fiber-rich and gluten-free food products
among health-conscious consumers. Millets-based products such as
flakes, cookies, and ready-to-eat products are gaining high
acceptance among consumers. Moreover, the high protein content of
these grains makes them ideal breakfast food for vegetarian and
vegan population. The infant baby food segment is projected to grow
at a faster pace during the forecast period. Millets-based infant
food such as porridge is ideal for infant growth and helps lower
the occurrence of malnutrition in infants and babies. Millets are
extensively used in infant food as it is rich in protein, multiple
vitamins, phosphorus, potassium, iron, and magnesium.
Based on product, the Europe
millets market is further segmented into organic and
regular.Millets are important crops in the semiarid tropics of
Asia and Africa (especially in India, Mali,
Nigeria, and Niger), with 97% of millets being cultivated
in developing countries.
They are mainly grown in warm countries with poor soil
quality.Millets are usually favored due to its productivity and
short growing season under dry and high temperature conditions.
There are nearly 6,000 varieties of millet across the world with
various colors such as pale yellow, white, gray, and red.
Currently, the demand of convenience foods has increased with the
increase consumer preference toward ready-to-eat food and
beverages.Also, with the diversification of distribution channel,
convenience foods have found a shelf in retail outlets and
supermarkets.
Further, changing working demographics and busy lifestyle, as well
as focus toward health-promoting food products, are among the other
factors that promote the demand for convenience food items.With the
increase in the demand for convenience food items, the demand for
millets is set to rise.
Moreover, rising technology in innovative packaging attract
consumers.Today, rising demand for food is highly met by
convenience foods across the world.
The urbanization of society has resulted into the prominence of
these foods in the modern diet; e.g., there has been an increase in
the trend of consumption of millets mixed with carbonated water,
coffee, pancakes, waffles, tea, cake, etc., in breakfast.
Additionally, the growing use of syrups as a topping in breakfast
food items is contributing to market growth. Different and
personalized flavors of syrups broaden their applications in
bakery, dairy, frozen desserts, beverages, and confectionery
industries. Furthermore, the increase in population, coupled with a
rising economic standards; hike in disposable incomes; and
diversification in food habits are surging the demand for
convenience foods, including millets. To meet such increasing and
varied demands, companies are coming up with improved varieties of
millets and efficient distribution channels to serve the wider
customer base.
The Europe millets market, based
on country, is segmented into Germany, France, Italy, and others.Germany held the largest
share of the Europe millets market
in 2018, and the millets market in Germany is also expected to grow at a faster
pace during the forecast period.
Germany is a developed market for
millets due to the rising consumption of convenience products and
surging demand from the working population due to busy lifestyles.
Moreover, product promotions through a new and improved form of
packaging are attracting consumers in the market.
Some of the players present in the Europe millets market are Just Organik, Shimla
Hills Offerings Pvt.Ltd, Sresta Natural Bioproducts Pvt.
Ltd, Ufenal Ltd, and Bob's Red Mill Natural Foods, Inc.
Impact of COVID-19 on Europe Millets Market
COVID-19 first began in Wuhan
(China) in December 2019 and since then it has spread at a
fast pace across the world.The food &beverages industry is one
of the major industries that is suffering serious disruptions such
as supply chain breaks, technology events cancellations, and office
shutdowns as a result of this outbreak.
The lockdown of various plants and factories is affecting the
supply chains and negatively impacting the manufacturing, delivery
schedules, and sales of various goods in Europe.Besides this, the
global travel bans imposed by countries in North America, Asia, and Europe are affecting the business
collaborations and partnerships opportunities.
Due to this, the European food &beverages industry will be
negatively affected, thereby restricting the growth of various
markets related to this industry in the coming months.In
Europe, Italy has the highest number of confirmed
cases of corona virus, as, compared to United Kingdom and Germany.
This is likely to impact the food &beverages industry in the
region.
The overall Europe millets market
size has been derived using both primary and secondary sources.The
research process begins with exhaustive secondary research using
internal and external sources to obtain qualitative and
quantitative information related to the Europe millets market.
Also, multiple primary interviews were conducted with industry
participants and commentators in order to validate data and
analysis. The participants who typically take part in such a
process include industry expert such as VPs, business development
managers, market intelligence managers, and national sales
managers, and external consultants such as valuation experts,
research analysts, and key opinion leaders specializing in the
Europe millets market.
Read the full report:
https://www.reportlinker.com/p05894544/?utm_source=PRN
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