Technavio, a tech-focused market research firm, has published a new report on the global sorghum market, which is expected to grow at a CAGR of approximately 5% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global sorghum market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global sorghum market are elaborated below
Sorghum market in APAC: China and India are the two major markets for sorghum in the APAC region. In India, sorghum is used for consumption as well as for the production of ethanol. It is a part of the staple diet in many parts of the country and is used for making flatbreads. The demand for sorghum is increasing in other countries in APAC such as Australia and New Zealand. Australia is the world’s third-largest producer of sorghum. Most of the sorghum produced in the country is exported to countries such as China and Mexico.
According to Manjunath Reddy, a lead analyst at Technavio, specializing in research on food, “Most of the sorghum imported to China is used to produce baijiu, which is a sorghum-based wine. It is the national drink of China and is estimated to be the highest-selling spirit segment globally. The increasing demand for baijiu among consumers in China will increase the demand for sorghum in the country during the forecast period.”
Sorghum market in EMEA: The rise in health consciousness among consumers and increasing awareness of the health benefits of sorghum will drive the growth of the market in Europe during the forecast period. The increasing prominence of sorghum as a breakfast option among consumers is further expected to fuel the demand for the product during the forecast period. In the Middle East, sorghum is increasingly consumed as a staple food and is also used animal food. Nigeria, Sudan, and Ethiopia are some of the major countries producing sorghum in Africa.
Sorghum market in the Americas: The increasing awareness of the health benefits of sorghum and the demand for new food products will drive the growth of the market in this region. The rising popularity of baijiu in the US will further help propel the demand for sorghum during the forecast period. The increasing prominence of sorghum as a breakfast cereal among the health-conscious consumer base is also expected to boost the sales of sorghum in the Americas during the forecast period.
The leading vendors operating in the global sorghum market are:
- Archer Daniels Midland
- Bunge
- Cargill
- Chromatin
Other prominent vendors in the market include Associated British Foods, General Mills, Ingredion, Sai Agro Exim, and SEMO Milling.
A more detailed analysis is available in the Technavio report titled, ‘Global Sorghum Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Macadamia Market 2017-2021
- Global Packaged Wheatgrass Products Market 2017-2021
- Global Tofu Market 2017-2021
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