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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.

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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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