U.S. - Millet - Market Analysis, Forecast, Size, Trends and Insights
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View PricingU.S. Millet Market - Key Statistics and Trends
IndexBox has just published a new report: 'U.S. - Millet - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
The revenue of the millet market in the U.S. amounted to $106M in 2018, approximately equating the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price).
The market value increased at an average annual rate of +1.7% over the period from 2014 to 2018; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded over the period under review. The pace of growth appeared the most rapid in 2017 with an increase of 10% against the previous year. In that year, the millet market attained its peak level of $108M, and then declined slightly in the following year.
Market Forecast to 2030
Driven by increasing demand for millet in the U.S., the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.8% for the period from 2018 to 2030, which is projected to bring the market volume to 312K tons by the end of 2030.
Production in the U.S.
Millet production in the U.S. amounted to 326K tons in 2018, dropping by -19.5% against the previous year. From 2014 to 2018, the total output volume increased at an average annual rate of +1.6%, which was largely conditioned by a slight expansion of the harvested area and a perceptible increase in yield figures.
Harvested Area in the U.S.
Millet harvested area in the U.S. stood at 163K ha in 2018, stabilizing at the previous year. Over the period under review, the harvested area dedicated to millet production attained its peak figure at 174K ha in 2014; however, from 2015 to 2018, harvested area failed to regain its momentum.
Yield in the U.S.
In 2018, the average millet yield in the U.S. amounted to 2 ton per ha, declining by -19.5% against the previous year. The yield figure increased at an average annual rate of +3.3% from 2014 to 2018.
Exports from the U.S.
Millet exports from the U.S. totaled 43K tons in 2018, going down by -48% against the previous year. In value terms, millet exports amounted to $16M (IndexBox estimates).
Exports by Country
Canada (11K tons), Indonesia (5.6K tons) and the Philippines (3.7K tons) were the main destinations of millet exports from the U.S., with a combined 47% share of total exports. Malaysia, Namibia, Mexico, Japan, Germany, Thailand, the UK and the United Arab Emirates lagged somewhat behind, together accounting for a further 39%.
In value terms, Canada ($3.6M), Indonesia ($1.8M) and the Philippines ($1.2M) constituted the largest markets for millet exported from the U.S. worldwide, together accounting for 43% of total exports. Malaysia, Namibia, the UK, Germany, Thailand, Mexico, Japan and the United Arab Emirates lagged somewhat behind, together comprising a further 41%.
Among the main countries of destination, Namibia recorded the highest growth rate of the value of exports, over the period under review, while exports for the other leaders experienced mixed trend patterns.
Export Prices by Country
In 2018, the average millet export price amounted to $367 per ton, surging by 16% against the previous year.
There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was the UK ($600 per ton), while the average price for exports to Mexico ($295 per ton) was amongst the lowest.
From 2014 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Thailand, while the prices for the other major destinations experienced a decline.
This report provides an in-depth analysis of the millet market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 79 - Millet
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
