Panela
market Overview:
Panela
is derived from the sugarcane juice which is further converted to
solid form after process of boiling and evaporation of sugarcane
juice. It is unrefined whole cane brown sugar and primarily it has
application food and beverage industry. In terms of characteristics
of panela, its color varies from golden brown to dark brown and it
contains sucrose, invert sugars, proteins, and bagasse fiber. Panela
is available in global market with different regional names such as
Jaggery, Piloncillo, Uluru Dust, Chancaca etc. Panela has greater
demand in global level market as it has wide applications in
confectionery, bakery, soft drinks and many other sectors of food
industry. Majority of demand of panela is from the side of
Asia-Pacific and African region and in terms of production, Latin
America is the world’s largest producer of panela.
Panela
Market: Market Segment
Panela
market is segmented on two different basis which includes on the
basis of form and on the basis of application. As per the market
segment of form, it is segmented on the basis of solid, liquid and
granulated form. Further as per the market segment on the basis of
application, its segment includes confectionery, bakery, savory and
beverages. On analyzing the demand of panela in global level market,
it is assessed that majority of market share on pie chart accounts to
confectionary as panela is rich in natural taste and flavor of sugar
due to which it has wide application in preparing chocolates, sweets
etc. Increasing demand of panela in global market is also due to its
rich nutritional value as it has nutritional value in terms of
carbohydrates, minerals, protein, antidoxidants and vitamins and due
to which food manufacturers prefers panela as one of the key
ingredient in their products. Apart from this, panela also have
various health benefits which are also one of the key factor behind
its increasing demand in emerging economies of the world. It has
various health benefits such as, it prevents constipation, anaemia
and respiratory problems, helps in blood purification, controls blood
pressure level, cleanse the body and also enhance the immunity system
of the body.
Panela
Market: Growth Drivers
Key
drivers which are influencing the demand of panela in global level
market is from the side of food manufacturers due to its
characteristics of natural taste of sugar which also has far better
flavor than brown sugar. Food manufacturers are using panela as key
ingredient in their products to serve the growing demand of consumers
who are seeking for products which have natural quality, taste and
can also be consumed as end product or can be added in food dishes to
enhance the taste and richness of recipes. Majority of the demand of
panela is from the side of food manufacturers which deals in
confectionery, sweets and chocolates. Demand of panela is also
increasing in global level market from the side of increasing health
conscious consumers as it is also available in organic form.
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Panela
Market: Regional Outlook
As
per the regional segment, market of panel is segmented on the basis
of seven different regions at global level market and these are:
North America, Latin America, Eastern Europe, Western Europe, and
Asia-Pacific region, Japan and Middle East and Africa. In terms of
consumption, Asia Pacific region is expected to contribute majority
of contribution in terms of volume and in terms of panela production,
Latin America, Asia-Pacific and Africa are the major regions.
Panela
Market: Players
Market
players of Panela are Royal Agro Foods Industries, Taj Agro Products,
CCBOL Group, Panela Carmelita, Pura Panela, OBELO, Coastal Fine
Foods, and Dulces El Trapiche are some of the companies which offers
panela.
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