Panela Market - Forecast(2024 - 2030)

Panela production and an increase in demand from the international market is driving the growth of Panela. With its associated benefits and high consumption rate within the country and internationally the market is expected to enter the disruption stage.?

What is Panela??

Panela is a kind of unrefined non-centrifugal cane sugar which can be found in solid form of sucrose. It can be obtained by the process of boiling and evaporating water from the sugarcane juice. It can also be defined as unrefined whole cane brown sugar. It is extracted from the sugarcane juice by boiling it in a traditional way and evaporating the water content in it. Smoky, caramelly, and earthy sugar are different names for Panela. The molasses in it gives Panela its brownish color and texture. Panela consist of sucrose, glucose, fructose, minerals, fats, invert sugars, vitamins, bagasse fiber and proteins making it nutritionally richer than sugar. It is widely used in several countries and known with different names like Jaggery, Piloncilo, Chancaca etc.?

The fully refined sugarcane juice produces crystal sugar which has its own demerits as compared to Panela in health. Panela is produced in a traditional way to be used in day to day life because of its medicinal benefits than sugar. It is also used in confectionery and bakeries replacing sugar which constitutes its major amount of market share. It is widely produced at small scale and used in Latin America and Caribbean. Steps has been taken by the governments of respective Latin America and Caribbean nations to globalize its benefits, market size and exports to generate the revenue of small scale manufacturers and farmers.??

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What are the applications of Panela?

Panela is the alternative additive of sugar to provide sweetness and taste. It is very widely used in the sectors of food and beverages industry which involves confectionery, bakery, soft drinks.? It is unrefined non-centrifugal cane sugar in solid, powdered or blocks form. Panela is widely used across the globe as a substitute of sugar in food and beverages due to its health benefits and also has much better taste than brown sugar. The excess amount and unrefined molasses gives its texture and brown color.?

Market Research and Market Trends of Panela:

• Panela is most widely used as a sugar substitute in the Latin America and Caribbean due to its health benefits such as increase in digestive enzyme for digestion, cleansing of internal organs, high content of minerals etc. As the traditional method of producing Panela is still followed across the Latin American and Caribbean continent which is keeping the generation capacity of Panela limited. The rural areas of these continents are mostly engaged in producing Panela from sugar cane juice through traditional method which made their lively hood better. Agriculture Support Systems Division of the Food and Agriculture Organization of United nations started a medium-term project entitled Enhancing Smallholder Livelihoods to diversify the Panela Agro-industry for increasing farm income of the farmers.?
• Due to the health benefit and nutritional content, Panela is widely recognized as an alternative additive of sugar. Panela is the main income generating product for the Colombia as directly or indirectly it is providing the employment and income. The main aim of Latin America and Caribbean Government is to integrate the region into global player of Panela production.?

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• One of the current trend in the Panela production is it is still produced traditionally and production of ethanol from refined sugar is shooting up in the Colombian industry. It has vast health benefits and is widely used in Food and Beverages industry eliminating the usage of sugar. It consist various nutritionally content like sucrose, invert sugars, bagasse fiber, fructose, vitamins, fats and minerals which is making it popular among other nations and other parts of the world. It is available in solid, powdered and cube form which makes it easier for packaging and shipping. There is a scope of Panela in near future as mankind nowadays are leaning towards having healthy life which make its market bigger at international level.??

Who are the Major Players in Panela Market?

The companies referred to in the market research report are De Cana, Obela, partnership Organization, and 10 other companies.

What is our report scope?

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