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United States, Rockville MD, June 23, 2022 (GLOBE NEWSWIRE) -- According to a new report published by Fact.MR, a market research and competitive intelligence provider, the global liquid jaggery market is estimated at US$ 544.8 million in 2022. The market is predicted to expand at an impressive CAGR of 8.3% during the forecast years 2022-2032.
Changing consumer behaviour and rising demand for health-beneficial food products without compromising on the taste are factors paving the path for liquid jaggery market growth. White sugar is now becoming optional for people who crave sweets, and the demand for healthy sugar alternatives such as liquid jaggery is rising. The shift to healthy alternatives is further boosted by the growing adoption of a sedentary lifestyle and increasing prevalence of diabetes among the population.
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Furthermore, liquid jaggery is gaining popularity among youngsters as it can be consumed as a rich nutrition source as well as can be used for skin smoothening and pimple reduction. In addition, liquid jaggery is seeing high demand among women due to its essential nutrients, which is an effective natural treatment for menstruation and specifically helps relieve cramps and relax the body.
What is the Main Factor Driving Liquid Jaggery Market Growth?
“Liquid Jaggery – The Perfect Substitute for White Sugar”
Several health benefits have led to the rising popularity of liquid jaggery among the youth and health-conscious people. Its high antioxidant property helps increase immunity and assists in preventing diseases. Additionally, liquid jaggery is the perfect option for those who want to eat healthy food without compromising on taste.
Liquid jaggery is a healthy natural source and can be used as a substitute for white sugar, which has some negative impacts on health. Jaggery also adds an exciting flavour to daily sweeteners.
Apart from this, a key driver behind the growth of the liquid jaggery market is the escalating diabetic population because of the concentration of the Glycemic Index, which affects blood sugar levels in diabetic patients. These factors are contributing to the rising consumption of liquid jaggery across the world.
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Key Segments Covered in the Liquid Jaggery Industry Survey
- Liquid Jaggery Market by Source :
- Sugarcane Liquid Jaggery
- Date Palm Liquid Jaggery
- Liquid Jaggery Market by Processing Type :
- Natural Liquid Jaggery
- Refined Liquid Jaggery
- Liquid Jaggery Market by Sales Channel :
- Online Sales of Liquid Jaggery
- Brand Websites
- e-Commerce Websites
- Offline Sales of Liquid Jaggery
- Specialty Stores (Organic Stores)
- Convenience Stores
Development of Market
Unawareness of the significant health benefits offered by liquid jaggery over any other sugar alternatives has restrained its market to limited regions. However, over the last few years, liquid jaggery has gained rapid traction. Several manufacturers are focusing on expanding their distribution channels in untapped regions, which will also drive market growth over the decade.
Liquid jaggery manufacturers are highly fragmented in the South Asia region. However, there are very few manufacturers who have successfully expanded their business on an international scale.
Moreover, market players are more concerned about spreading awareness about liquid jaggery globally so that they can launch their liquid jaggery products successfully in international markets.
- Aazol and Green Leaves International started the distribution of liquid jaggery on an international scale. However, they set a parameter that within 15 to 20 days the liquid jaggery should be delivered in an international market.
Such initiations will support the awareness and growth of the liquid jaggery market across the world.
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Key players in the Liquid Jaggery Market
- Balaji Jaggery Farm
- Vinayak Jaggery Manufacturers
- Siddhagiri's Satvyk
- Dev Bhoomi Jaivik Krishi Utpad
- Sandeshwar Agro Producer company
- Phoennix Spices
- Dr. Jaggery's
Key Takeaways from Liquid Jaggery Market Study
- The global liquid jaggery market is projected to expand at an impressive CAGR of 8.3% during the forecast years to be valued at US$ 1.2 billion by 2032.
- The market witnessed 4.7% CAGR during the period 2017-2021.
- Under source, sugarcane dominates the market with a valuation of US$ 469.4 million in 2022.
- South Asia & ASEAN dominated the market with 60.8% market share in 2021.
- Together, South Asia & ASEAN and Latin America are likely to represent 69.3% market share in 2022.
- Demand for liquid jaggery is expected to increase at CAGRs of 10.4% and 10.0% in North America and Europe, respectively, over the forecast period.
Fact.MR's Domain Knowledge in Food & Beverage Division
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned food and beverage team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the food and beverage domain across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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