Dublin, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The "Sorghum Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The newest research publication on the global Sorghum market, outlines the significant market trends and forecasts an anticipated Compound Annual Growth Rate (CAGR) of 4.43% during the period from 2023 to 2028. The expansion is underpinned by the grain's versatility, nutritional benefits, and growing utilization in a variety of sectors including animal feed and bioenergy.
Key Insights into the Sorghum Market's Growth Trajectory:
Analyst projections suggest the nutritional profile of sorghum, with its gluten-free advantage, positions it as a superior alternative to conventional grains such as wheat and rice. The report highlights the crucial role that technology plays in developing hybrid sorghum crops that consume less water, adding further momentum to the market's growth.
With a focus on applications, sorghum's use in the Animal Feed Industry has seen a notable uptick, particularly in Europe where it serves as a key ingredient in livestock nutrition. Meanwhile, in North America, technologies that enable the cultivation of hybrid seeds and improved herbicides are shaping up to be key market drivers, signaling robust regional growth in the sorghum sector.
Government Initiatives and Research Enhancing Sorghum Market Development
The report sheds light on the increased support from government bodies and research institutions that is catalyzing the market. The identification of 2023 as the International Year of Millets by the United Nations General Assembly has given prominence to sorghum, leading to enhanced consumer awareness of its health benefits. These factors, combined with research-driven yield improvements and variety development, are presented as key contributors to the sorghum market's projected expansion.
Adaptability to Climate Change to Influence Market Dynamics
- Drought resistance and adaptability to warm climate conditions are underscored as pivotal characteristics of sorghum that could lead to greater demand in the face of global climate change.
- The report offers insight into how shifts in global temperature and the prevalence of extreme weather events could influence sorghum farming practices and market size.
The nutritional benefits and health consciousness among consumers are also discussed in the publication, emphasizing the potential for the sorghum market to capitalize on the growing preference for gluten-free diets and the demand for micronutrient-rich foods.
The research publication delineates the sorghum market's key players, discussing their contributions and innovations that have the potential to shape market trends. Highlighted are technological advancements in herbicides and sorghum breeding methods.
Market Segmentation and Regional Outlook
Within the report, a detailed analysis of market segments includes Grain Sorghum, Sweet Sorghum, Forage Sorghum, and Biomass Sorghum, with a breakdown of applications spanning planting, breeding, animal feed, and the food industry. The text also segments the market geographically across the key regions of North America, South America, Europe, the Middle East and Africa, and Asia Pacific, emphasizing the significance of North America as a major production hub.
Recent developments in the market, including collaborative efforts, innovations, and launches, form part of the forward-looking analysis that defines this in-depth review of the global sorghum market.
This thorough research publication is expected to serve as a valuable resource for stakeholders, investors, and industry participants looking to understand and leverage the dynamics of the growing sorghum market.
Key Company Profiles
- UPL
- Corteva Agriscience
- Bayer CropScience
- KWS SAAT
- Groupe Limagrain
- Nufarm (Nuseed)
- Pannar Pty
- Allied Seed
- Seed Co
For more information about this report visit https://www.researchandmarkets.com/r/ar3nt9
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