Owing to benefits such as special nutritional characteristics, dietary supplement of carbohydrates, minerals and vitamins, and a natural ingredient for sweetening other foodstuffs, Panela is experiencing rapid adoption as opposed to artificial sugar, thus fostering the growth in the global Panela market.
Covid-19 Impact & Market Status
Covid crisis severely impacted the global panela market depreciating the market from all aspects from production, demand, supply side operations to consumption. This further affected the demand and supply side across industries including food & beverage, cosmetics, pharmaceutical, and others. However, to emerge from the pandemic the firms are offering varied range of products and identifying & prioritizing problems. Also, to maintain competitiveness and stay ahead they are putting forward strategies and lines of action to benchmark against the domestic as well as the world markets.
This report provides relevant information to decision makers, analyses market prospects, and future commercial opportunities. The report examines the current economic state and commercial sustainability of the panela industry the world and makes a comparative regional review.
Factors constraining and promoting Brazil’s panela sector, main characteristics of panela market, production, production activities, analysis of the strengths, opportunities, weaknesses and threats, cost structure, products types, regions, and trends in the market are highlighted in the report. The report is aimed at policy makers, government agencies, private, non-government organizations, small and medium-scale entrepreneurs.
Solid Panela Product Type to Emerge as the Most Lucrative Segment
Based on product type global panela market is categorised into solid, liquid, granules, and powder. Among these, the solid panela product type is poised to incur the highest revenue streams owing to several advantages such special nutritional characteristics, dietary supplement of carbohydrates, minerals and vitamins, and its increasing use as a natural ingredient for sweetening other foodstuffs.
Food & Beverage Segment to Remain Atop
Global Panela market is classified into solid, liquid, granules, and powder on the basis of type. Among these, solid panela segment is experiencing rapid demand in the global panela market and are projected to record substantial growth in forecast span. The key factors such as increasing demand for panela as a food additive, food manufacturers using panela as key additive are driving the global panela market.
North American Region to Render Ample Investment Avenues
North America is the most mature markets in global panela market. The key factor such as efficient sugarcane transportation system, higher per capita consumption of panela, technological developments in cultivation and processing of panela, development of clean technologies for the sustainable and competitive development of the North America’s panela agro-industry have boosted the market share of North America in the market. Furthermore, good farming and manufacturing practices, use of ecological furnaces in production processes shifting to eco-friendly initiatives.
Introduction of agronomic technologies for producing new sugarcane varieties, use of advanced fertilizers, weed control, Panela production undertaken as a strategy for boosting economy increased the sugarcane processing for producing Panela becoming the key factor to improve the global panela market.
Furthermore, increasing manufacture of products made from natural resources, high productivity- growth rates, improved linkages of upstream and downstream supply chain, technological developments for increasing processing of natural resources adding value to the production, distribution, and marketing chain have boosted the global panela market. These factors are collectively influencing thumping growth of global panela market, ensuring overall market size of 9.7 Bn USD by 2028 with an annual growth rate of 6.3% from 2021 to 2028.
Panela is a sweet food made from sugarcane juice. It is an unrefined non-centrifugal sugar available in markets in the form of brown sugar. The unique feature of panela is that Panela is nutritionally rich and contains higher amount of sucrose, fructose, and glucose. Also, it contains various minerals, fats, proteins and vitamins and this has become the key reasons extensive use of panela and panela products across multiple industries.
However, sugar is a competing substitute to panela in both production and consumption directly impacting panela production and prices. Additionally, falling sugar prices, low sugar consumption, quality concerns and packaging gaps are likely to hamper growth of the global panela market in the coming years. Nevertheless, as a natural sweetener, panela fetches higher prices, again becoming attractive to divert sugarcane producers to panela production, higher consumption of panela in both the low-income and middle-income brackets. Factors such as extensive domestic and international market, job creation are other important aspects for superlative growth of global panela market. This is anticipated to be a growth opportunity to the global panela market.
They producers of panela and panela products dominating the world panela market are Royal Agro Foods Industries, Dulces El Trapiche, Coastal Fine Foods, OBELO, Pura Panela, Panela Carmelita, CCBOL Group, and Taj Agro Products among all other well-established and emerging players. These firms provide panela product in different varieties as per market demand from different regions. These firms are on top in the global panela market due their varied range of product offerings and they are ahead in identifying and prioritizing problems. Also, they stay ahead in putting forward strategies and lines of action allowing producers to maintain competitiveness, domestic as well as the world market. The manufacturers are coming with new varieties, different flavours strengthening its position in the global panela market. The companies and industries are identifying and targeting new set of priorities, extending their product lines, and targeting new markets for leveraging company profits.
Latest Innovations in the Global Panela Market: a Snapshot
In May 2021, International Molasses released its flagship product, a sweetener which is free-flowing and retains original flavors, sourced from sugarcane juice. The product is called CanerIte Panela and has elements such as iron, manganese, zinc, calcium, phosphorous, and potassium.
Panela Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||9.7 USD billion|
|Growth Rate||CAGR of 6.3% during 2021-2028|
|Segment Covered||Product Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Royal Agro Foods Industries, Dulces El Trapiche, Coastal Fine Foods, OBELO, Pura Panela, Panela Carmelita, CCBOL Group, and Taj Agro Products|
Key Segments of the Global Panela Market
Product Type Overview, 2018-2028 (USD Billion)
Application Overview, 2018-2028 (USD Billion)
- Food and beverages
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa