Companies had ventured into the market following the government s nudge on increasing millet consumption. Sales, however, have been sluggish due to the consumer perception that these products are not tasty and are priced high, apart from the difficulty in adding millets as ingredients in existing items - as it changes flavour - and low shelf life.
The market size of the FMCG segment by 2030 is estimated at over `21 trillion. Experts indicate that consumption rises at a much faster pace when per capita incomes cross $4,000, as is expected in India by 2030. There is today an increasing consumer preference for trusted brands, convenience, offerings in health and wellness as well as premium products. In 2024, a rising Bharat with unbounded aspirations, the massification of digital access and democratisation of premiumisation will further broaden opportunities for the FMCG sector.
Millets Resurge: Embracing Healthier Choices firstpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from firstpost.com Daily Mail and Mail on Sunday newspapers.
Celebrate the International Year of Millets 2023 with the Forgotten Superfood of India firstpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from firstpost.com Daily Mail and Mail on Sunday newspapers.
Mission Millets is not just a campaign; it's a promise for a healthier India. Through this campaign, ITC aims to integrate the versatility of millet and the array of benefits it provides into our everyday lives.