Global sorghum market is expected to display enormous growth in the forthcoming years. Sorghum is cultivated abundantly in warm climates or naturally grown in grazing lands. It is a top crop and one of the best five cereals cultivated globally. Sorghum has wide usages right from alcoholic beverages to fencing, pet food, floral arrangements and building material. Sorghum essentially has played a substitute in many applications that offers healthier products by genetically engineered crop seeds. Drivers to growth of sorghum market include sorghum’s use in pet food industry and the catalyst that it provides in acting as substitutes for other foods.
The primary driver of sorghum market in the years to come includes the beneficial traits associated with hybrid varieties introduced in the market. Plenty of sorghum varieties participate in market and in competition with other cereals. Popularly known as milo, sorghum has unlimited usages in feed and industrial applications and food. Sorghum withstands high temperatures and soil toxicity and hence makes plantations in higher regions very probable and no fertilizers needed for growth makes it conducive to plant at higher altitudes. Believed to have originated in African continent, it widely is grown in 66 countries.
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It is immune to drought conditions and is a high-energy environment friendly crop. It can be grown as a sweet crop or grain. Sorghum varieties are planted and grown either as grains or as fodder in expansive cultivation areas or pasture lands. Segmentation of sorghum market by type includes white sorghum, red sorghum and hybrid sorghum.
Based on application, sorghum market is divided into flour and cereal, biofuel and ethanol production, syrups, alcoholic beverages and livestock feed. Based on the region, sorghum market is flanked by North America, Europe, Asia Pacific, MEA and Latin America. Forage sorghum finds dedicated use in fodder for livestock and sweet sorghum adds to the bumper productivity by crushing harvested stalks of the crop.
North America holds the largest share in the sorghum market and Asia Pacific falls next in line. Europe’s sorghum market is expected to grow at a steady CAGR in the forthcoming years. Africa is one of the countries where government’s promotion is working wonders. This is done by giving seeds to farmers at half the price and fertilizers at commoditized prices with governments support extending across most of Nigeria, Sudan, and Ethiopia. Australia, U.S. and Argentina export to Asia pacific and European countries thus becoming largest exporters of sorghum globally.
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Egypt, Tanzania, and Uganda have potential to become major customers of sorghum. Companies are entering into joint ventures to live up to the rising demand for sorghum. Investors understanding demand requirements are getting into mergers & acquisitions to keep pace with strong investor relations in face of high sorghum demands. The key players in the sorghum market include Mabele Fuels, Sorghum Seeds of South Africa, Richardson Seeds Ltd, Dow Agro Sciences LLC, DuPont Pioneer, and National Sorghum Producers.
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