Sorghum Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI1372
Global Sorghum Market size is expected to grow at a significant CAGR in the forecast period. The rising demand for sorghum market encapsulates many factors. Sorghum is widely used as an alternative sweetener for alcoholic beverages. It has a variety of applications in fencing, pet food, floral arrangements, building material, fencing, etc. It is a substitute for a range of food products which has acted as a catalyst for sorghum producers to offer healthier products with the help of genetic engineering of crop seeds. Rising demand from pet food industries has also contributed to the growth of the market. It is expected that a multitude of sorghum products will be launched by the manufacturers in the market which will ensure the sorghum industry to remain in competition with the other cereals. The development of hybrid varieties with beneficial traits is expected to drive the market in the forecast period.
Sorghum is popularly known as milo and is used in feed, industrial applications and food. It has the capability to tolerate high temperatures and soil toxicity. It can be cultivated on higher altitudes also. Sorghum can thrive with little or no fertilizers, therefore, making the cultivation of the crop much easier in higher altitude regions. Sorghum is believed to have originated in African continent. It is grown in over 66 countries. Sorghum is a versatile crop and is one of the top five cereals globally. It is drought tolerant and is a high-energy environmental friendly crop. It can be grown as a grain or a sweet crop.
Majority of the species of sorghum are grown for grains while others are grown as fodder plants in large cultivation area or pasture lands. Various species of sorghum can be used for silage, green chop and hay production. The most popular crop for livestock feeding is forage sorghum which is used as silage. Bioenergy is produced worldwide by biomass sorghum. Sweet sorghum is mainly cultivated for sorghum syrup. It is also used in sweeteners for alcoholic beverages, biofuels and production of chemicals. Sorghum is gluten-free in nature.
Globally, the sorghum market is segmented on the basis of types, applications and regions. Based on the types, the market is divided into white sorghum, red sorghum and hybrid sorghum. Based on the application, sorghum is divided into flour and cereal, biofuel and ethanol production, syrups, alcoholic beverages and livestock feed. Biomass sorghum is specifically used for the production of ethanol and biofuel. Forage sorghum is used as fodder for livestock and sweet sorghum is used for syrup production by crushing the harvested stalks of the crop.
Based on region, the market can be divided into North America, Latin America, Asia Pacific, Europe and Middle East and Africa. North America is leading the global sorghum market. Asia Pacific is next in queue. The U.S. Department of Energy has allocated USD 70 million for the research of sorghum as a model feedstock. Other major producers of sorghum are spread across Nigeria, India, Sudan and Ethiopia. In Africa, the support of the local governments has led to a surge in sorghum production. The governments have agreed to provide fertilizer subsidy and improved varieties of sorghum seeds. The seeds are being bought by the government and sold to the farmers at almost half the price. Major exporters of sorghum include Australia, U.S. and Argentina while the list of importers encompasses Europe and Asian countries such as China, India and Japan. The countries which can be the potential customers for sorghum production are Egypt, Tanzania, Uganda, etc.
Companies are forming joint ventures and making agreements to meet the rising sorghum demand. Investors are strengthening its presence in sorghum industry by mergers and acquisitions. In February 2016, Chromatin, Inc. acquired Majestic Semillas, a sorghum seed distributor. Some of the major competitors across the value chain of the sorghum industry are National Sweet Sorghum Producers & Processors Association, Dyna-Gro Seed, Chromatin, Inc., Mabele Fuels, Sorghum Forum of South Africa, Richardson Seeds Ltd., Dow AgroSciences LLC, DuPont Pioneer, National Sorghum Producers, Blue River Hybrids, Taj Agro International Ltd., La Crosse Seed LLC, Hancock Farm and Seed Company, Pacific Seeds, Advanta US, Inc., Allied Seed LLC, etc.
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