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The demand for a range of snacking options has increased as a result of rising health concerns around the world
PORTLAND, OR, US, March 18, 2023 /einpresswire.com / -- According to the report published by Allied Market Research, the global millet snacks market generated $2.4 billion in 2021 and is estimated to hit $3.7 billion by 2031, registering a CAGR of 4.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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The report offers a detailed segmentation of the global millet snacks market based on type, age group, distribution channel, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Top Key Companies Are:
Urban Millets Pvt Ltd
Cicer Food Products and Slurrp Farm.
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Nevertheless, the surge in the adoption of millets as a power food source is another significant factor creating opportunities in the millet snacks market. Power food provides quick energy and nutrients to the body either via a meal or in the form of a nutrition supplement. Millets contain high protein content that helps provide energy to the body. Breakfast cereals made from millet seeds can help provide enough energy for the whole day. This utilization of millet seeds as power food is anticipated to offer potential opportunities for the expansion of the millet snacks market.
Key Findings Of The Study
- By type, the extruded products segment was the highest revenue contributor to the market with $1,999.9 million in 202 1, and is estimated to reach $3,130.1 million by 2031, with a CAGR of 4.8%.
- By age group, the millennials segment was the highest revenue contributor to the market, with $1,083.8 million in 2021, and is estimated to reach $1,584.5 million by 2031, with a CAGR of 4.0%.
- By distribution channel, the offline segment was the highest revenue contributor to the market, with $17,63.8 million in 2021, and is estimated to reach $2728.5 million by 2031, with a CAGR of 4.6%.
- Region-wise, Asia-Pacific was the highest revenue contributor, accounting for $1,043.3 million in 2021, and is estimated to reach $1,532.0 million by 2031, with a CAGR of 4.0%.
Based on region, the market across Asia-Pacific contributed to more than two-fifths of the overall millet snacks market in 2021, and is expected to maintain its dominance during the forecast period. However, the North America market would grow at the fastest CAGR of 6.8% from 2022 to 2031. The other provinces discussed in the report include Europe and LAMEA.
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Check out more related studies published by AMR Research:
Millet Seeds Market -
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Refrigerated Snacks Market -
Organic Oats Market -
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of“Market Research Reports” and“Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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