Published on : Aug 18, 2016
Panela refers to unrefined brown sugar that is derived from the sugarcane juice. The extraction from sugarcane juice is converted into a solid form once it is boiled and evaporated. Panela is used extensively in the food and beverage sector. In the last few years, panela has been in high demand across the globe, thus fuelling the growth of the market. Panela is mostly available across the globe and is known by several other names such as piloncillo, chancaca, jaggery, uluru dust, and others.
The color of panela varies from light brown to dark brown and some of the key ingredients available in it are mentioned as below:
The increasing base of application of panela in chocolates, confectionery, and sweets is one of the prominent factors estimated to bolster the growth of the global panela market in the next few years. The food manufacturers across the globe are making extensive use of panela, owing to its natural taste. This is projected to propel the overall market in the near future. In addition, the growing awareness regarding consumption of organic food is anticipated to augment the growth of the global panela market in the coming few years.
Furthermore, the health benefits offered by panela is also estimated to boost the demand for panela in the near future. Consumption of panela in adequate quantity helps in preventing anaemia, constipation, and respiratory problems. It also helps in purification of blood, cleanse the body, controls blood pressure level, and improves the immune system of the human body. All these factors are anticipated to augment the growth of the market in the coming years.
OBELO, CCBOL Group, Royal Agro Foods Industries, Panela Carmelita, Taj Agro Products, Dulces El Trapiche, Pura Panela, and Coastal Fine Foods are some of the prominent players operating in the global panela market. These players are making efforts to expand their product catalogue and create a brand name in the near future. In addition, the expansion of distribution network has contributed immensely towards the growth of the market, encouraging the key players to boost their production capacities in the next few years.