Global Millet Cookie Market size to grow at 4.6% from 2022 to 2030

Millet Cookie Market Analysis (2023 - 2030)

As per our research, the global millet cookie market is set to grow significantly at 4.6% CAGR from $87.9 Million in 2023 to $125.96 Million in 2030.

The COVID-19 pandemic had a significant impact Global economy market including the Millet Cookie market. The lockdown disrupted the supply chain which lead to a decline in demand for non-essential commodities like cookies. But as people were spending more time at home, they started to look for healthier alternatives to junk food which increased the demand for healthy and nutritious food options during the pandemic owing to the increasing awareness and healthy snacking habits among people. So the COVID-19 pandemic had a mixed impact on the overall millet cookie market.

Millet is a high-nutrient whole grain that has multiple health benefits which include controlling diabetes, obesity, and cholesterol, it also has antioxidant and anti-microbial properties and it improves blood sugar control. As these health-related issues related to diseases are going up, awareness related to them and consumers’ fight against these diseases by switching the healthier snacking options has increased the demand for such products. Millets are gluten-free and as there is a rise in gluten intolerance and celiac disease among people, millet-based products seem more appealing to such consumers as a gluten-free snack option. Millets also support sustainable agricultural production due to which the governments around the world are encouraging the cultivation and products related to millets. With the introduction of new flavors in the market, in the era of online shopping with various available e-commerce platforms, and the expansion of distributing channels, these drivers are anticipated to increase the accessibility to the consumer and drive the growth of millet cookies in the market.

However, millets are yet to gain popularity as an alternative grain in some countries where it is not widely consumed. Millet cookies have to also compete against some other healthy snack options such as nuts, seeds, and dried fruit that are available in the market and consumers frequently prefer them over cookies. There is a lack of awareness about the health benefits of millet to the general public and millet-based products are typically more expensive than flour-based cookies which the price-conscious consumers may seem to avoid and it can restrict the growth of the millet cookie market.

KEY MARKET INSIGHTS:

• Based on type, flavored cookies are popular among consumers as it provides them with a wider variety of their snacks. The flavored segment has dominated the market in 2022, and its demand is only going to increase among consumers as estimated during the forecast period. Ingredients such as sugar, butter, and eggs are used to make traditional cookies which add texture and a bit of nutty flavor while flavors such as chocolate, butterscotch, and fruits are used in flavored cookies.
• Based on the distribution channel, with the availability of a diverse range of products on e-commerce platforms, the online segments are estimated to grow at a much faster rate than the offline segments. E-commerce platforms such as Amazon, Walmart, and other online retailers provide convenience and comfort to consumers and they can compare the prices of different products from the comfort of their homes, online segment also provides offers and discounts on the product which acts as a plus with other benefits. Offline segments include supermarkets, hypermarkets, convenience stores, and others which also provide a wide variety of products and make them easily accessible to consumers.
• By Region, Asia-Pacific is estimated to dominate the market as the growing trend of online shopping and rising awareness of millet’s benefit would contribute to the market growth. In Asian and African countries, pearl millet is the most important millet species in terms of area harvested and food security. India is the largest producer of millet in the world. Pearl millet is used to produce almost half of the world’s millet-based products. Additionally, the demand in Europe is also rapidly increasing for nutritious and healthy snacks with the popularity of gluten-free products. The market in North America is estimated to grow at a moderate rate. Few parts of the world are yet to gain the popularity of millet products as there is a lack of awareness in the region.
• Companies playing a leading role in the millet cookie market are Anhui Jinwei Food Co. Ltd., Dabur India Limited, Ravi Industries, The Quaker Oats Company, Vedantika Herbals, Health Food Company, Healthy Snacks Company, Millet Cookies Inc, Healthy Bites Company, and Millet Cookies Co. They are rapidly introducing new flavours in the market, expanding their product portfolio, and augmenting the market size.

Market Segmentation:

By Type:

• Traditional type
• Flavored type

By Distribution Channel:

• Online Market
• Offline Market

By Region:

• Asia-Pacific
• Europe
• North America
• South America
• Middle East and Africa

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