(EMAILWIRE.COM, August 24, 2023 ) As per Maximize Market research, the Panela Market was USD 57.23 Billion in 2022 and is expected to grow at a CAGR of 5.7 percent over the forecast period to reach USD 89.24 Billion by 2029.

Panela Market Report Scope and Research Methodology

The Panela Market Report explores the global landscape of panela, a traditional cane sugar product. It encompasses market trends, production analysis, and consumer preferences. A mixed-methods approach, combining industry data, field surveys, and expert interviews to provide a comprehensive understanding of market dynamics, supply chain, and cultural significance of panela in various regions.

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Panela Market Dynamics

The Panela Market is growing due to increasing consumer interest in natural and unrefined sweeteners. As health-conscious preferences surge, panela's organic, minimally processed nature appeals to a diverse audience seeking healthier alternatives. Its versatile applications in culinary and beverage industries contribute to the market's expansion.

Panela Market Regional Insights

Latin America led the panela market, holding a substantial 60% share in 2022. Countries like Colombia, Mexico, and Ecuador contribute significantly due to their panela expertise. The region's rich tradition and strong consumer preference fuel panela demand, making it a sought-after ingredient for diverse food and beverage uses.

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Panela Market Segmentation

By Form

Solid blocks
Granules
Liquid syrups
Powdered forms
By Application

Bakery and confectionery
Beverages
Desserts
Sauces and dressings
Others
By Distribution Channel

Direct sales
Distributors
Online retailers
Specialty food ingredient suppliers

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Panela Key Competitors include:

ASR Group
Sudzucker AG
Cosan Limited
EID Parry
Tereos Internacional S.A.
Manresa S.A.
Panela Colombia
Panela Granada
Kely Panales
BSI Holdings Ltd
Panela Organica
Panela Art
Guayas Panela
Panela Brasil
Panela Deli
Panela Africa
Panela Asia

Maximize Market Research is leading Food & Beverages research firm, has also published the following reports

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