The millet market in Nigeria is expected to see a steady increase in volume per capita from 2024 to 2028. In 2023, the market stood at 8.94 kilograms per capita. The forecasted values for the upcoming years display positive year-on-year growth, with the following percentage increases:
- 2024: 1.6%
- 2025: 1.7%
- 2026: 1.8%
- 2027: 1.6%
- 2028: 1.6%
Over the last two years, the market has shown an upward trend with an average annual growth rate (CAGR) of approximately 1.7% from 2024 to 2028.
Future trends to watch include the impact of climate change on millet production, potential shifts in consumer preferences towards millet as a response to health trends, and government initiatives to promote millet as a key staple grain. These factors could influence the market dynamics significantly in the coming years.