Global consumption of liquid jaggery market increased at a CAGR of 4.7% between 2017 and 2021, with a market value of US$ 544.8 million. Fact contains detailed information. The worldwide liquid jaggery market is predicted to develop at an 8.3% CAGR to reach US$ 1.2 billion by the end of 2032, according to MR.
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Due to the region’s historic acceptance of the product, the expansion of the liquid jaggery business, including jaggery powder, has been restricted to India, particularly Northern India, which is regarded as a liquid jaggery manufacturing powerhouse. However, as more people become aware of its health advantages, such as immune boosters, blood purifiers, antioxidants, and so on, its global demand has grown. Furthermore, liquid jaggery producers have begun to focus on distribution channels that were previously confined to local regions.
Competitive Landscape:
Market participants are especially concerned with increasing global awareness of liquid jaggery in order to effectively launch their liquid jaggery products in international markets.
In addition, increasing production capacity through inorganic methods such as partnerships and acquisitions will help producers increase profit margins. Supplementing sales with labels like organic, iron-rich, antioxidant, and so on is an important step toward better success in this market segment.
The international distribution of liquid jaggery was pioneered by Aazol and Green Leaves International. They did, however, require that the liquid jaggery be available on a global market within 15 to 20 days.
Sugarcane liquid jaggery has a market share of more than 80% by source type. Because of its winey sweet taste, this source of liquid jaggery is likewise predicted to be the fastest-growing category over the projection period.
Furthermore, the large production of liquid sugarcane jaggery leads to the high production of jaggery, which is another reason for the widespread adoption of sugarcane liquid jaggery in major markets.
In some places, liquid jaggery has a relatively concentrated market, and brand websites and e-Commerce websites play a significant role in improving product reach on a worldwide basis.
Improving international sales and growing import-export commerce can help the worldwide liquid jaggery market thrive. Between 2022 and 2032, online sales of liquid jaggery are predicted to grow at an 8.3% CAGR.
Key Players:
- Balaji Jaggery Farm
- Vinayak Jaggery Manufacturers
- Siddhagiri’s Satvyk
- Dev Bhoomi Jaivik Krishi Utpad
- Sandeshwar Agro Producer company
- Phoennix Spices
- Jaggery’s
- Agrohill farms products
- Shetkari Rajacha Gavran Gul
- Shree Varad agro-industry
- Green Leave International
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Regional Analysis:
By the end of 2032, the Columbia liquid jaggery market is expected to exceed US$ 29.7 million. By 2032, Japan, China, and the United States are predicted to be major contributors to the worldwide liquid jaggery industry.Japan’s market is predicted to grow at a CAGR of 6.4%, while China and the United States are expected to account for 61.6% and 83.9% of regional market shares, respectively.
Outside of South Asia, the market for liquid jaggery is quite modest. However, increased awareness is projected to support stable market expansion in the African and Latin American areas in the coming years.
India is a major consumer and producer of liquid jaggery, accounting for more than 80% of South Asian consumption and 53.1% of global consumption.
The high preference for organic and locally produced food is fuelling the need for liquid jaggery in India. The presence of important manufacturers across the country also contributes to India’s dominance in the worldwide industry.
Key Segments of Industry:
- by Source :
- Sugarcane
- Date Palm
- by Processing Type :
- Natural
- Refined
- Others
- by Sales Channel :
- Online Sales
- Brand Websites
- e-Commerce Websites
- Offline Sales
- Hypermarkets/Supermarkets
- Specialty Stores (Organic Stores)
- Convenience Stores
- D2C
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