Leveraging Social Media Marketing Strategies for Millet-Based Ready-to-Eat Products: A Competitive Analysis

Abstract

By 2019-20, the amount of millet consumed directly decreased to 10.72 MMT. It declined with a Compound Annual Growth Rate (CAGR) of 2.45 per cent during 2010-11 to 2019-20. This can be attributed to changes in eating choices, especially in rural areas. In India, e-commerce is the primary distribution channel for value-based millet products, accounting for over 50 per cent of consumption in urban areas. Millets are a staple grain in many Asian and African countries, where they are used to produce chakli, dosa, papad, idly, porridges, breads and snacks for young children. 97 per cent of millets are grown in underdeveloped countries, primarily by marginal and low-resource farmers. India is the world's largest producer of millet, followed by Nigeria, Niger, and China. The major import marketers are Indonesia, Germany, Belgium, South Korea and the United Arab Emirates. RTE food’s global market size reached USD 181.5 billion in 2023. The research expects this market to reach USD 262.4 billion by 2032, with a CAGR of 4.18 per cent. Marketing should be focused 80 per cent on the consumer’s information and education, and only 20 per cent on the sales growth. The firm to expand its market, is planning to increase its presence in gated communities and is also keen on exploring the different opportunities through food on-wheels concept. Hence, market analysis was helpful for the firm in deciding the marketing strategies it needs to employ and the kind of market segments it can serve.