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Panela Market to Reach USD 89.24 Billion by 2029 at a CAGR of 5.7 percent

(Food-Beverage-News.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


Liquid syrups

Powdered forms

By Application

Bakery and confectionery



Sauces and dressings


By Distribution Channel

Direct sales


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

Bread Market - The market size is expected to reach USD 276.4 Billion by 2029 at a CAGR of 3.6 percent during the forecast period.

Clean Label Bread Market -The Market size is expected to reach USD 53.32 Bn by 2029 at a CAGR of 6.6 percent during the forecast period.

About Maximize Market Research:

Maximize Market Research provides B2B and B2C research on 6,500 high-growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense, and other manufacturing sectors.


Dnyaneshwari Yevale


Source: EmailWire.Com
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