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Recent Trends in the Sorghum Market

01-24-2018 10:05 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research

Sorghum is a versatile crop which can be grown as a sweet crop or as a grain and is considered as one of the top five cereal crops globally. Many species of sorghum is grown for grains while other species are used as fodder plants, which is either naturally grown in pasture lands or is cultivated in large areas. Sorghum is also known as a drought tolerant and high-energy crop which is environmentally friendly. Depending on variety of sorghum species, sorghum can be used for hay production, grazing pasture and silage and green-chop.

Forage sorghum is the most popular crop which is used as silage for livestock feeding. Biomass sorghum species are widely used for producing bioenergy worldwide. Sweet sorghum is primarily cultivated for producing sorghum syrup globally. Sweet sorghum is harvested for the stalks which is crushed like sugarcane to produce syrup. Sweet sorghum is also used as a healthy alternative sweetener for alcoholic beverages and for chemical production and biofuel.

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Global Sorghum: Market Segmentation

The global sorghum market is segmented on the basis of type, application, and region. The global sorghum market is segmented on the basis of type which includes grain sorghum, forage sorghum, biomass sorghum and sweet sorghum. Sweet sorghum is mainly used for producing sweet syrup. Forage sorghum is primarily used for livestock feeding. Biomass sorghum is used for biofuel and ethanol production. The global sorghum market is segmented on the basis of application in which sorghum is used as an alternative sweetener for alcoholic beverages such as rum, whisky and others. Sorghum is also used for ethanol and biofuel production. Sorghum is primarily used for livestock feeding. Hence, the global sorghum market is expected to significantly increase the revenue contribution over the forecast period.

Global Sorghum Market: Regional Outlook

Geographically, the global sorghum industry can be divided by major regions which include North America, Latin America, Europe, Asia Pacific and Middle East and Africa. Globally, among all regions, North America has developed as the dominant region in global sorghum market followed by Asia Pacific. Increasing demand for sorghum as an alternative sweetener for alcoholic beverages, has strengthened the growth of global sorghum market and hence is projected to significantly expand the revenue contribution of the market over the forecast period.

Global Sorghum Market: Growth Drivers

Growing demand for sorghum as an alternative sweetener for various alcoholic beverages is a major factor driving the global sorghum market worldwide. As a result of being a versatile crop, sorghum is also used expanding markets such as floral arrangements, fencing, building material, pet food and others, which is another major driving factor for global sorghum market. Manufacturers are offering innovative sorghum-based products to the consumers in order to remain in the competition in the market. Many sorghum producers are providing healthier product offerings based on the increasing demand for sorghum as a better substitute in a variety of food products. Sorghum's versatility gives it the elasticity to reach beyond traditional markets, further enhancing producer productivity. Hence, the global sorghum market is expected to observe robust growth over the forecast period.

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Global Sorghum Market: Key Players

Some of the key players identified across the value chain of the global sorghum market include National Sorghum Producers, National Sweet Sorghum Producers & Processors Assn, SHRI LAL MAHAL Group, SORGHUM FORUM OF SOUTH AFRICA, Mabele Fuels, Richardson Seeds, DuPont, Advanta Seeds US are among others. The companies are expected to expand their business by enhancing their product portfolio in global sorghum market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global sorghum market till 2025.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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