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Liquid Jaggery Market

Liquid Jaggery Market By Source (Sugarcane, Date Palms), By Processing Type (Natural, Refined), By Sales Channel (Online, Offline) - Global Forecast 2022 to 2032

Analysis of Liquid Jaggery market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Liquid Jaggery Market Outlook (2022-2032)

Worldwide consumption of liquid jaggery increased at 4.7% CAGR between 2017 and 2021 and currently stands at a market valuation of US$ 544.8 million.

Detailed analysis by Fact.MR has revealed that the global liquid jaggery market size is poised to expand at a high CAGR of 8.3% to reach US$ 1.2 billion by the end of 2032.

Report Attributes

Details

Liquid Jaggery Market Size (2021A)

US$ 506.6 Million

Estimated Market Value (2022E)

US$ 544.8 Million

Forecasted Market Value (2032F)

US$ 1.2 Billion

Global Market Growth Rate (2022-2032)

8.3% CAGR

South Asia Market Share (2021)

~60.8%

South Asia Market Growth Rate (2022-2032)

~7.6% CAGR

India Market Growth Rate (2022-2032)

~7.5% CAGR

Market Share of Top 5 Companies

~14.2%

Key Companies Profiled

  • Balaji Jaggery Farm
  • Vinayak Jaggery Manufacturers
  • Siddhagiri's Satvyk
  • Dev Bhoomi Jaivik Krishi Utpad
  • Sandeshwar Agro Producer company
  • Phoennix Spices
  • Dr. Jaggery’s
  • Agrohill farms products
  • Shetkari Rajacha Gavran Gul
  • Shree Varad agro-industry
  • Green Leave International

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Liquid Jaggery Consumption Analysis (2017-2021) Vs. Forecast Outlook (2022-2032)

Growth of the liquid jaggery market, including jaggery powder, was restricted to India, specifically Northern India, which is known as a production hub for liquid jaggery due to its traditional acceptance in the region. However, after rising awareness about its health benefits such as an immunity booster, blood purifier, antioxidants, etc., there has been an upsurge in its demand across the world. Additionally, liquid jaggery manufacturers have started focusing on distribution channels, which were initially limited to local regions only.

Liquid jaggery is also known for its antioxidant and mineral-rich properties; as it includes zinc and selenium. Along with this, its sweet winey fragrance and tasty flavour amplify its use in sweet dishes.

The identification of liquid jaggery as a medical sugar for its ability of liver cleaning and improvement of digestion has advanced its use in the health sector.

  • Short Term (2022 Q2 to 2025): Although liquid jaggery enjoys huge popularity in South Asia as a sweetener, it will take some time to reach and establish the market in other regions. This will determine the slow growth of the market during the initial forecast years, generating an absolute $ opportunity of US$ 186.5 million from 2022 to 2025.
  • Medium Term (2025-2028): Over the medium term, liquid jaggery consumption is expected to gain rapid transaction in Latin America and the Middle East & Africa, leading to an increment opportunity of US$ 250.9 million over 2025-2028
  • Long Term (2028-2032): Increasing popularity of liquid jaggery among the youth and health-conscious people as a natural sweetener will drive market expansion in the long term.

During the years 2017-2021, the global liquid jaggery market registered a CAGR of 4.7%, and according to Fact.MR, a market research and competitive intelligence provider, the market is projected to witness a growth of 8.3% CAGR during 2022-2032.

Liquid jaggery market forecast by Fact.MR

Market share analysis of source, processing, and region is provided in a nutshell in the above image. Under the source segment, sugarcane dominated with 86.1% market share at the end of 2021.

Liquid Jaggery Market

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What is the Main Factor Driving Liquid Jaggery Market Growth?

“Liquid Jaggery – The Perfect Substitute for White Sugar”

Several health benefits have led to the rising popularity of liquid jaggery among the youth and health-conscious people. Its high antioxidant property helps increase immunity and assists in preventing diseases. Additionally, liquid jaggery is the perfect option for those who want to eat healthy food without compromising on taste.

Liquid jaggery is a healthy natural source and can be used as a substitute for white sugar, which has some negative impacts on health. Jaggery also adds an exciting flavour to daily sweeteners.

Apart from this, a key driver behind the growth of the liquid jaggery market is the escalating diabetic population because of the concentration of the Glycemic Index, which affects blood sugar levels in diabetic patients. These factors are contributing to the rising consumption of liquid jaggery across the world.

Know thy Competitors

Competitive landscape highlights only certain players
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What Challenges Do Liquid Jaggery Suppliers Encounter?

“Low Product Awareness & Side Effects of Over Consumption”

As every coin has two sides, liquid jaggery also has some side effects that can become a hurdle to the overall growth of the liquid jaggery market.

Liquid jaggery contains glucose, fructose, and fat; high consumption can lead to weight gain and also cause cold, nausea, stomach aches, cough, and headaches. Also, impure and improper processing can lead to issues with the intestine warm and imbalance in digestion.

Also, due to less awareness about its use and benefits in the global market, manufacturers need to increase awareness among consumers about the benefits of consuming liquid jaggery.

Country-wise Insights

Which Countries are Expected to Exhibit Increasing Demand for Liquid Jaggery?

The Columbia liquid jaggery market is estimated to surpass US$ 29.7 million by the end of 2032. Japan, China, and the U.S. are also expected to be key contributors to the global liquid jaggery market by 2032.

The market in Japan is expected to account for a CAGR of 6.4%, while China and the U.S. are expected to account for 61.6% and 83.9% regional market shares, respectively.

Liquid Jaggery has a very small market outside the South Asia region. However, spreading awareness about it is expected to drive steady market growth across the African and Latin American regions over the coming years.

Will India Continue its Prominence in the Liquid Jaggery Market?

India is one of the leading consumers and producers of liquid jaggery and accounts for more than 80% of liquid jaggery consumption in South Asia and 53.1% of global consumption.

High inclination towards organic and locally produced food is the main reason driving the demand for liquid jaggery in India. The dominance of India in the global market is also guided by the high presence of key manufacturers across the country.

Category-wise Insights

Why is Sugarcane Liquid Jaggery Highly Sought-after?

Sugarcane liquid jaggery dominates with more than 80% market share by source type. This source of liquid jaggery is also expected to be the fastest-growing segment during the forecast period owing to its winey sweet taste attracting more consumers.

Also, the high production of liquid sugarcane jaggery contributes to the high production of jaggery, which is one more reason behind the high acceptance of sugarcane liquid jaggery in prominent markets.

Will Liquid Jaggery Manufacturers Do Well through Online Sales Channels?

Liquid jaggery has a very concentrated market in some regions where brand websites and e-Commerce websites play a major role in better product reach on a global scale.

Strengthening international sales and increasing import-export trade can boost the growth of the global liquid jaggery market. Online sales of liquid jaggery are expected to surge at a CAGR of 8.3% between 2022 and 2032.

Competitive Landscape

Liquid jaggery manufacturers are highly fragmented in the South Asia region. However, there are very few manufacturers who have successfully expanded their business on an international scale.

Moreover, market players are more concerned about spreading awareness about liquid jaggery globally so that they can launch their liquid jaggery products successfully in international markets.

Also, increasing production capacity by adopting inorganic strategies such as partnerships and mergers will help manufacturers drive their profit margins. Supplementing sales under the influence of various labels such as organic, iron-rich, antioxidant, etc., is a key path that can be followed for higher success in this market space.

  • Aazol and Green Leaves International started the distribution of liquid jaggery on an international scale. However, they set a parameter that within 15 to 20 days the liquid jaggery should be delivered in an international market.

Such initiations will support the awareness and growth of the liquid jaggery market across the world.

Key Segments Covered in Liquid Jaggery Industry Research

  • Liquid Jaggery Market by Source :

    • Sugarcane Liquid Jaggery
    • Date Palm Liquid Jaggery
  • Liquid Jaggery Market by Processing Type :

    • Natural Liquid Jaggery
    • Refined Liquid Jaggery
    • Others
  • Liquid Jaggery Market by Sales Channel :

    • Online Sales of Liquid Jaggery
      • Brand Websites
      • e-Commerce Websites
    • Offline Sales of Liquid Jaggery
      • Hypermarkets/Supermarkets
      • Specialty Stores (Organic Stores)
      • Convenience Stores
      • D2C
  • Liquid Jaggery Market by Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

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The global liquid jaggery market is valued at US$ 544.8 million and is expected to top US$ 1.2 billion by 2032.

Over the 2017-2021 period, global sales of liquid jaggery increased at 4.7% CAGR.

Prominent suppliers of liquid jaggery are Aazol, Dr. Jaggery’s, Siddhagiri's Satvyk, Vinayak Jaggery, Agrohill farms products, and Sandeshwar.

South Asia & ASEAN tops the global liquid jaggery market accounting for 60.6% market share.

Sugarcane liquid jaggery accounts for a high 86.2% market share.

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