Dublin, Aug. 16, 2024 (GLOBE NEWSWIRE) — The “Sorghum – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Sorghum is estimated at US$10.8 Billion in 2023 and is projected to reach US$14.5 Billion by 2030, growing at a CAGR of 4.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the sorghum market is driven by several factors, including technological advancements in crop management and breeding, increased adoption by the food and beverage industry, and shifting consumer preferences. Recent developments in genetic research and biotechnology have led to more resilient sorghum strains that offer higher yields and improved resistance to pests and diseases.
This technological progress has encouraged more farmers to cultivate sorghum, particularly in regions vulnerable to climate change. In the food industry, sorghum’s gluten-free property has made it a popular alternative to traditional cereals, aligning with growing consumer demand for gluten-free products.
Additionally, its use in the production of biofuels has expanded due to technological improvements in fermentation processes, making it a more efficient and appealing option for bioenergy. Consumer trends towards more sustainable and nutritious food sources have further bolstered the market for sorghum, as individuals increasingly seek out crops that are both environmentally friendly and beneficial for health.
Together, these factors are propelling the sorghum market toward a more prominent position in the global agricultural landscape, highlighting its potential as a key resource for meeting the food, energy, and environmental challenges of the future.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Grain Sorghum segment, which is expected to reach US$6.7 Billion by 2030 with a CAGR of a 4.5%. The Forage Sorghum segment is also set to grow at 3.3% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $2.9 Billion in 2023, and China, forecasted to grow at an impressive 7.1% CAGR to reach $2.9 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Allied Seed, LLC, Archer Daniels Midland Company (ADM), Ardent Mills, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $10.8 Billion |
| Forecasted Market Value (USD) by 2030 | $14.5 Billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Sorghum – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Expanding Gluten-Free Market Spurs Demand for Sorghum-Based Products
- Use of Sorghum in Biofuel Production Drives Market Growth
- Animal Feed Sector Accelerates Demand for Sorghum
- Climate Resilience of Sorghum Strengthens Business Case for Its Adoption
- The Growing Popularity of Ancient Grains Among Health-Conscious Consumers
- Integration of Sorghum in Plant-Based Dietary Trends Expands Market Opportunities
- Rising Demand in Alcoholic Beverage Industry Sustains Sorghum Growth
- Sorghum as a Sustainable Alternative to Corn Strengthens Market Position
- Expansion of Sorghum in Snack Food Sector Drives Market Trends
- Consumer Demand for Whole Grains Supports Sorghum Sales
- Diversification of Sorghum Applications in Culinary Uses
- Growing Vegan Population Generates Demand for Sorghum Products
- Evolving Consumer Preferences for Non-GMO Products Support Sorghum Sales
FOCUS ON SELECT PLAYERS(Total 86 Featured)
- Allied Seed, LLC
- Archer Daniels Midland Company (ADM)
- Ardent Mills
- Capstone Seeds S.A.
- Cargill, Incorporated
- Ernst Conservation Seeds
- JSS Exim
- Kaveri Seed Company Limited
- KWS SAAT SE & Co. KGaA
- Nu Life Market
- Ratnaraj Foods
- Seedway, LLC.
- Shree Raghvendra Agro Processors
- The Scoular Company
- Trimurti Plant Sciences Private Limited (TPSPL)
For more information about this report visit https://www.researchandmarkets.com/r/3uw0h4
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