The Finger Millet Market is being driven by Low maintenance of finger millet cultivation
The Finger Millet Market is expected to grow at a CAGR of 6.78% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5206.2 million. In the context of global health trends, the escalating prevalence of diabetes poses a significant challenge, with the Centers for Disease Control and Prevention (CDC) estimating over 130 million adults in the US alone to be living with diabetes or prediabetes in 2022. In response to this health concern, consumers are increasingly seeking nutritious food alternatives. Finger millet, a rich source of dietary fiber and boasting a low glycemic index, has emerged as a popular choice. Its slow digestion properties help maintain stable blood sugar levels, making it an ideal food substitute for those managing diabetes or looking to prevent it. Furthermore, finger millet contains valuable polyphenols, adding to its nutritional value and appeal.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
157 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
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Market growth 2024-2028 |
USD 5206.2 million |
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Market structure |
fragmentation |
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YoY growth 2023-2024(%) |
6.23 |
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Key countries |
US, China, Germany, Japan, UK, Australia, India, France, Brazil, UAE, Rest of World (ROW), Saudi Arabia, France, South Korea, Mexico, Italy, and Spain |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Finger millet, also known as Ragi, is a nutrient-rich ancient grain gaining popularity among millennials for its health benefits. With its unique design and packaging, finger millet is making a comeback in modern markets. However, there are hindering challenges to its widespread adoption, especially in semi-arid regions where it thrives. Finger millet is a sustainable crop choice for water-scarce environments, requiring less water than other cereals like rice or wheat. It grows well in diverse climates and is often intercropped with other crops, making it an ideal choice for small-scale farmers. Finger millet is versatile and can be used to make a variety of nutritious foods. It is commonly used to make porridges, bread, and flatbreads in various cultures. Other millets like little millet, proso millet, barnyard millet, pearl millet, sorghum, and finger millet are also gaining popularity as healthier alternatives to junk foods. Despite its benefits, finger millet faces challenges in design and packaging that can make it less appealing to consumers. Innovations in this area could help increase its market reach and make it more accessible to a wider audience. Overall, finger millet is a nutrient-rich food that can contribute to a healthier and more sustainable food system.
The global packaged foods and meats market encompasses vendors engaged in food processing to ensure microbial elimination and shelf life extension. According to Technavio, this market's size is determined by the consolidated revenue generated by the market participants. It excludes equipment manufacturers and producers of packaged beverages, including alcoholic and non-alcoholic varieties. Key growth drivers for the global packaged foods and meats market include the health benefits linked to minimally processed foods, such as vegetables, which are rich in essential nutrients like potassium, dietary fiber, folate (folic acid), vitamin A, and vitamin C. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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