In 2023, the millet market in India stood at 10.38 million metric tons. Forecasted data indicates a gradual increase in volume with the market expected to reach 10.4 million metric tons in 2024, 10.42 million metric tons in 2025, 10.43 million metric tons in 2026, 10.44 million metric tons in 2027, and 10.45 million metric tons in 2028.
Year-on-year percentage variations over the last two years indicate steady but marginal growth. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is projected to show a minimal increase, reflecting consistently stable market conditions.
Future trends to watch for:
- Increased consumer awareness and preference for health foods could drive demand.
- Government policies promoting millet cultivation could also impact market size.
- Climatic changes and their impact on millet yields.
- Competitive dynamics with other staple grains such as rice and wheat.
