Sorghum Market Trends, Segment and Future Growth to 2023


Posted February 27, 2019 by sandycool

Sorghum Market is worth USD xx million in 2018 and estimated to grow at a CAGR of xx.xx%, to reach USD xx million by 2023
 
Sorghum Market Overview
Sorghum can be grown as a sweet crop or as a grain and is considered as one of the main five cereal crops. One species of sorghum is grown for grains while many other species can be used as fodder plants, which are either cultivated in warm climates worldwide or naturalized, in pasture lands. Most varieties of the sorghum plant are drought- and heat-tolerant, and is especially important in arid regions, where the grain is one of the staples for poor and rural people. These varieties are an important part of pastures in tropical regions.
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Sorghum is mainly used as sweetener for various alcoholic beverages, which is the main driving factor. Also it is used in floral arrangements, fencing, building material, pet food and others which further effects the market growth. Also due to its versatility, it can reach above the traditional markets, which enhances producer productivity.
Sorghum Market Forecast Report (2018-2023)
Sorghum Market is expected grow at a robust CAGR during the forecast period (2018-2023)"
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Sorghum Market Segmentation
The global Sorghum market is classified on the basis of Type, Application and region. Based on Type the market is divided into Grain Sorghum, Forage Sorghum, Biomass Sorghum and Sweet sorghum. Based on Application the market is classified into Human Consumption and Animal Feed.
Geographically, the Global Sorghum market is classified into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. North America is expected to have the higher market share due to increasing demand for sorghum as an alternative sweetener for alcoholic beverages followed by Asia Pacific.
Key developments
China Dominates the Market in Production and Use
• China is one of the major producers of sorghum seeds in the world and accounts for around 4% of the global production. Sorghum is used mainly for feed consumption and China is expected to remain as the key driver of the world’s supply and demand, in the next five years. This spike in demand from China is being driven mainly by the country’s feed industry, which is rising towards sorghum, looking at it as a cheaper substitute for corn. Over 80% of the sorghum is imported to China is used to produce feed.

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Major Players:
Major players in the current market are:
• National Sweet Sorghum Producers & Processors Assn
• Shri Lal Mahal Group
• Sorghum Forum of South Africa
• National Sorghum Producers
• Mabele Fuels
• Richardson Seeds
• DuPont
• Advanta Seeds
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Last Updated February 27, 2019