Millet Protein Market: Overview
Millet Protein is sourced from the millet grain and can be used in nutritional supplements and food products. Millet protein is used for different applications like nutritional drinks, protein shakes, food products and nutraceuticals. The wide range of practical applications of millet protein leads to increasing demand for millet protein from consumers over the forecast period.
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The rise in the nutraceutical and pharmaceutical industry is likely to expand the market for millet protein. The growing nutraceutical and fitness industry will have a positive impact on the millet protein market.
New developments in the nutraceutical industry has led to an increase in the use of millet protein due to its benefits in healthy diet. The increased consumption of millet protein as part of daily diet will stimulate the immune system and is likely to expand the market for millet protein.
Millet Protein Market: Market Dynamics
Rising use of millet protein as a supplement and ingredient in the nutraceutical and food & beverages industry is the key driver for the growth of global millet protein market. Millet protein is gaining importance as it plays a vital role in improving digestibility, which can be an alternative to wheat protein, which might create allergic reactions to gluten intolerants, and better health performance. Millet proteins are becoming popular as they are replacing other proteins for improved health and performance. The dietary food sector is creating immense potential for growth in the future.
Additionally, the booming nutraceutical industry across the globe is expected to have a positive impact on the global millet protein market. The rising expenditure on the nutraceutical products and digestive supplements are likely to expand the nutraceutical supplements industry, which is expected to push the demand for millet protein.
Millet proteins have also been known to provide a natural defense system to body and protect against infections.
Millet Protein Market: Market Segmentation
The millet protein market is segmented into product type, nature, application and geography. In the production of millet protein, grains of different quality can be used.
Based on product type, the millet protein market is segmented into:
Based on nature, the millet protein market is segmented into:
Based on applications, the millet protein market is segmented into:
Nutritional Supplement Powders
Smoothie & Confectionary
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Millet Protein Market: Regional Outlook
The millet protein market is expected to register a healthy growth across all the geographies during the forecast period. The health diet food and nutraceutical industries across the globe are likely to push the market for millet protein. The emerging economies are expected to create significant demand for millet protein as there is lucrative growth in the health food and nutraceutical supplement industry. South Asia and East Asia collectively represent a considerably high market share for millet protein market, which is expected to grow at a high rate due to the increasing population and changing food consumption habitats. China and India’s developing markets are expected to have a positive impact on the growth of millet protein market. North America is a growing market due to high per capita income and the consumers’ high expenditure on maintaining a healthy diet is likely to boost the millet protein market.
Additionally, Middle East & Africa is projected to showcase steady growth in the global millet protein market due to rise in the dietary food and nutraceutical industry along with nutritional beverages industry in the region.
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However, adverse impacts on consumers due to hypersensitivity of millet protein products in certain populations has been registered with health institutions, which is likely to hamper the growth of global millet protein market during the forecast period.
Millet Protein Market: Key Players
Some of the major players in the millet protein market are Sunburst Superfoods, NOW Foods, Jeevans house, Golden Prairie Millet, Manini’s, LLC and Elementa Ingredients, among others.
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