Molasses Market Research Report - Forecast till 2027

Molasses Market Research Report: Information by Type (Light, Dark, Blackstrap and Others), Category (Organic, Conventional), Source (Sugarcane, Sugar beets and others), Application (Food & Beverages, Animal Feed, Biofuel and others) and Region - Global Forecast 2027

ID: MRFR/F-B & N/5542-HCR | February 2023 | Region: Global | 90 Pages         

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Molasses Market

Molasses Market Size is expected to reach at USD 18,183.5 million by 2027, registering a CAGR of 5.4% from 2020-2027.

Segmentation
By Type Light Dark Blackstrap Others
By Category Organic Conventional
By Application Food & Beverages Animal Feed Biofuel Others
Key Players
Companies Profiled   B&G Foods Inc.(US)    Crosby Molasses Co Ltd. (Canada)    The Archer Daniels Midland Company (US)    Cora Texas Manufacturing Company LLC (US)    Malt Products Corporation (US)    Westway Feed Products LLC (US)    Good Food Inc.(US)    E D & F Man Holdings Limited (UK)    B&G Foods Inc. (US)    Sweet Harvest Foods Inc. (US)    Domino Specialty Ingredients (US)
Drivers
Market Driving Forces   number of related medical advantages identified with the utilization of the molasses items
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Molasses Market Overview


The molasses market size is expected to gain a market value of USD 19,193.5 million by 2030 at a CAGR of 7.4% from 2022-2030.


Molasses is a sweetener acquired from refining sugarcane and sugar beets. It is a thicker, darker liquid product. Molasses is a popular ingredient in the food industry. It's also a key ingredient for making brown sugar and rum.


The molasses market is driven by the rising consumer interest in adopting more nutritional and healthy food products. Manufacturers of food and beverages are also using ingredients with nutritional benefits. Since high sugar consumption leads to diabetes, heart disease, and obesity, consumers are increasingly preferring health-beneficial sugar substitutes in their diets. Furthermore, Molasses is known for its mineral content and has a higher nutritional value than regular sugar. Molasses is the by-product of sugar extraction, and in every process, molasses syrup has different nutritional properties that benefit health. Different types of molasses syrup are used based on their sugar level, which is used as per the demand of different consumers. Moreover, the growing consumption of compound feed in the animal feed industry also drives the need for molasses because it is one of the main ingredients for such feed. However, the presence of substitutes for molasses is hindering the global molasses market


COVID-19 Analysis


The COVID-19 pandemic has hurt the organic blackstrap molasses market. Production had seen a critical decrease because of an absence of workers, the sugarcane industrial facilities' shutdown, and a disruption in the supply chain because of the lockdown. Moreover, troublesome conditions and a lack of government support for sugar cane farmers in India and Brazil impacted the availability of pure sugar cane manufacturing plants, halting the expansion of the sugar market. Recently the world seemingly overcame the pandemic. Businesses are getting back to normalcy. The molasses market is forecasted to grow in the projected period because of the health consciousness that the pandemic infused in people.


Market Dynamics:


Drivers:


The main driver for the Worldwide Molasses Market is the expanding utilization of the dry molasses in the planning of pastry shop items, drunkard and nonalcoholic refreshments, utilization of dry molasses in ranches for expanding the quality and amount of the microorganisms in the soil, and utilization of dry molasses in food as a sweetener. Aside from these driving elements, the worldwide dry molasses market is relied upon to observe strong development during the estimated period because of a number of related medical advantages identified with the utilization of the molasses items. Furthermore, dry molasses are additionally utilized to create corrective items, which is likewise fuelling the worldwide dry Market. Subsequently, the worldwide dry market is required to have vigorous development during the estimated time frame attributable to these driving variables.


Challenges:


Molasses are seeing diminished interest in feed applications, which is likewise quite challenging for the Molasses Industry. One of the key application areas of molasses is animal feed. However, with the expanding accessibility of less expensive other options, the interest in molasses is compromised in the animal feed area.


Opportunities:


Accessibility of various seasoned molasses and limited time exercises by assembling organizations to build mindfulness about medical advantages of molasses among people can set out higher income opportunities for major parts in the Molasses Industry.


Restraints:


One of the key elements restraining the development of the Worldwide Molasses Industry is changing climatic conditions, which straightforwardly influence the deals of stick molasses. Therefore, it is affecting the development of the market to a great extent. 


Cumulative growth Analysis:


Molasses extracts contain normal flavor with no fake tones, which is profoundly focused and is for the most part utilized for applications for bread shop and candy store items. Molasses concentrates can be utilized as fluid and powder structures. Food businesses are utilizing molasses separates in their items because of the rising buyer interest for molasses extricate food items. Moving shopper inclination for molasses separate based items is a significant driving variable for developing the Market.


Segment Overview:


By Type:


The Worldwide Molasses Market has been portioned into light, dull, blackstrap, and others in view of type. The blackstrap portion is expected to acquire the biggest income share in the worldwide molasses market and will keep up with lead all through the estimated period. Blackstrap molasses is being utilized in different applications like food, cocktails, creature feed, and others because of the medical advantages offered by the blackstrap molasses syrup. This is a significant determinant catalyzing the development of the blackstrap portion in the worldwide market. Therefore, a similar fragment is required to develop with the most elevated development rate attributable to the development of end-use enterprises in which molasses is utilized. 


By Category:


The Worldwide Molasses Market has been isolated, by category, into natural and traditional. However, the customary fragment is required to collect significant offers in the Worldwide Market attributable to the immense accessibility of traditional molasses. Be that as it may, the natural fragment is expected to project a higher CAGR during the forecasted time frame because of the rising tendency of shoppers towards natural items. 


By Source:


The Worldwide Market has been arranged, by source, into sugarcane, sugar beets, and others. The sugarcane section is required to acquire the biggest offer, inferable from the factor that sugarcane is developed for a huge scope, and the expense of the cycle to remove molasses is low. 


By Application:


The Worldwide Molasses Market has been segmented, by application, into useful food and drinks, creature feed, biofuel, and others. The food and drink portion is projected to acquire the biggest offer in the worldwide market because of the significant utilization of molasses as sugar in food and refreshment items. 


Regional Analysis:


The Asia Pacific is relied upon to rule the Market during the figure time frame. The district's predominance can be credited to different factors like the presence of a few market players, expanding mindfulness in regard to medical advantages of molasses. Molasses gives a few medical advantages, which prompts its utilization in bone well-being, heart well-being, and glucose levels. Expanding utilization of molasses in creature feed by European customers is relied upon to deliver a critical portion of the market to Europe during the forthcoming years. Notwithstanding, North America is expected to enroll the most elevated CAGR due to the higher tendency of buyers towards utilizing molasses as sugar in the creation of food and drinks. Molasses is additionally utilized as a significant fixing in the creation of cocktails like rum and lager. 


Major Market Players:


The Key Players of the Molasses Market:



  • Michigan Sugar Company (US)

  • B&G Foods Inc.(US)

  • Crosby Molasses Co Ltd. (Canada)

  • The Archer Daniels Midland Company (US)

  • Cora Texas Manufacturing Company, LLC (US)

  • Malt Products Corporation (US)

  • Westway Feed Products LLC (US)

  • Good Food Inc. (US)

  • E D & F Man Holdings Limited (UK)

  • B&G Foods, Inc. (US)

  • Sweet Harvest Foods Inc. (US)

  • Domino Specialty Ingredients (US)


Recent Developments



  • In June 2021, International Molasses Corporation, a US-based producer of sugar cane molasses products, invert syrups, honey, agave syrup, and customized sweeteners, launched CaneRite Panela, a natural, unrefined and non-centrifuged sugar made from sugar cane.

  • In October 2020, Universal Robina Corp (URC), a Philippines-based consumer goods conglomerate, acquired the sugar milling and bioethanol distillery plants and parcels of land from Roxas Holdings Inc (RHI) for an undisclosed amount.


Report Overview:



  • Market Overview Highlights the global recognition of Market Overview

  • Analysis based upon COVID 19

  • Explanation upon the Market Dynamics

  • Value Chain Analysis for the Market Production Report.

  • Market Segmentation Overview

  • The Regional Analysis of Market Analysis

  • Competitive Landscape Analysis

  • Recent Developments of Market Share Forecast


The report highlights the Market Share Growth Development includes its revenue hike's growth potential by the end of the forecast years in 2027.



Report Scope:

Report Attribute/Metric Details
  Market Size    USD 18,183.5 Million
  CAGR   5.4% (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units    Value (USD Million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Category, Source, Application, And Region
  Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Michigan Sugar Company (US), B&G Foods, Inc.(US), Crosby Molasses Co Ltd. (Canada), The Archer Daniels Midland Company (US), Cora Texas Manufacturing Company, LLC (US), Malt Products Corporation (US), Westway Feed Products LLC (US), Good Food Inc. (US), E D & F Man Holdings Limited (UK), B&G Foods, Inc. (US), Sweet Harvest Foods Inc. (US), Domino Specialty Ingredients (US)
  Key Market Opportunities   Rising investment by market players in their R&D to launch innovative products.
  Key Market Drivers

  • Vitamin B6
  • Magnesium, Calcium
  • Iron
  • Selenium


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    Frequently Asked Questions (FAQ) :

    Major types of molasses include light, dark, and blackstrap.

    Major applications of molasses include food and beverages, animal feed, and biofuels.

    The higher nutritional content of molasses in comparison to sugar is the major driver for the molasses market.

    Asia Pacific is expected to dominate the molasses market over the forecast period.

    Leading players in the molasses market include Crosby Molasses, B&G Foods, and Michigan Sugar Company, among others.