(Entertainment-NewsWire.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.
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.
Maximize Market Research is leading Food & Beverages research firm, has also published the following reports
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