The increase in growth of the molasses market can be ascribed to reasons such as increased food safety awareness and demand for healthier foods, which are driving global molasses consumption.
Covid-19 Impact & Market Status
The COVID-19 epidemic has had the opposite effect on the Molasses Market. Because of a lack of labour, worldwide rendering, and the closure of sugarcane manufacturing facilities, creation has been severely hampered. Furthermore, difficult conditions and a lack of government support for farmers in major unadulterated sugarcane-producing nations such as India and Brazil, as well as the pandemic's lockdown and extension of the time limit, are affecting the accessibility of pure sugarcane manufacturing plants.
This report gives a comprehensive picture of the global molasses market studying the key market dynamics, market size projections, growth rate estimates, key driving forces, opportunities, market challenges, competitive landscape and more such aspects of the market.
Blackstrap Molasses Expected To Have Highest Market Share
The global molasses market is classified into sorghum, treacle, medium, light, and blackstrap on the basis of type. Among these, the blackstrap segment of the global molasses market is predicted to gain the most revenue share and will stay pace with lead throughout the forecast period. Because of the medical benefits provided by blackstrap molasses syrup, it is used in a variety of applications such as food, beverages, animal feed, and others
Organic Segment Expected To Experience Maximum Growth
The global molasses market is classified into Organic and Conventional on the basis of category. The conventional segment currently has the highest market share due to increasing ease of access of conventional molasses. However, organic segment is predicted to rise rapidly during the analysis period because of the increasing tendency among people to be more health conscious and rising demand for organic materials.
Food & Beverage Segment Dominated the Global Molasses Market
The global molasses market is classified into baking, candy making, rum, mixed animal feed, vinegar, citric acid, other on the basis of applications. As molasses is commonly used as sugar in foods and beverages, the food and beverage segment is expected to have the largest share of the global market.
Sugarcane Expected To Be In High Demand
The global molasses market is divided nuts, seeds, dairy products, sugarcane, vitamins, others on the basis of source. Among these the sugarcane is required to obtain the largest offer, owing to the fact that it is grown for a wide range of purposes and the cost of the molasses removal cycle is low.
Asia-Pacific Expected To Remain Atop
During the forecasted period, Asia Pacific is projected to earn the highest revenue share in the global molasses market. The region’s dominance can be attributed to a number of factors, including the presence of a few market players and growing awareness of the health benefits of molasses. The increased use of molasses in animal feed by European clients is expected to provide a significant chunk of the market to Europe in the future years. Nonetheless, due to the increased tendency of purchasers to use molasses as sugar in the production of food and beverages, North America is predicted to register the highest CAGR.
Furthermore, greater ethanol production for biofuels has resulted in higher maize prices around the world, increasing demand for molasses as an alternative feedstock.
Molasses is produced by the refining process where it is obtained as a by-product. Sugarcane or sorghum juice is boiled to extract raw sugars for industrial use, then processed further to make molasses. Dry molasses is a type of dry animal feed prepared from molasses as a solid ingredient that may be fed directly on farms without the need for water. Molasses is also used to lighten circulatory strain, repair consumes, treat blockages, lighten circulatory strain, and reduce fat accumulation in the body.
The global molasses market is predicted to grow from USD 12106.3 million in 2021 to about USD 23586.3 million by 2029 at a Compound Annual Growth Rate (CAGR) of 5.3 percent during the forecast period 2022-2029.
Molasses is becoming more common, and it is used as sugar in a variety of foods and beverages due to its high nutrient content. Molasses is fortified with the elements B6, magnesium, calcium, iron, and selenium, all of which are essential for human health. The Molasses Market is experiencing a surge in growth, owing to rising demand for molasses due to its high supplement content.
Because there is a growing interest in molasses in the food and beverage business, food and beverage processors are focusing their R&D efforts to deliver innovative and inventive molasses-based items. Furthermore, the players are concentrating their efforts on the Molasses Industry, bringing such products to the attention of customers all over the world as a result of its cancer-prevention capabilities. Molasses also contains a lot of calcium and magnesium, which helps to prevent diseases like osteoporosis and asthma. As a result, these elements are expected to drive the Molasses Market throughout the forecasted period.
Molasses is seeing a decline in interest in feed applications, which is also posing a challenge for the market as it is one of the most important uses for molasses. However, as more affordable alternatives become available, molasses' appeal in the animal feed industry is diminishing. Changing climate circumstances, which directly influence stick molasses deals, are one of the major factors limiting the growth of the global molasses industry.
The global molasses market has intense competition and consists of several big corporations such as Spreckels Sugar Company, Crosby Molasses, B&G Foods, Michigan Sugar Company, Cora Texas Manufacturing Company, Buffalo Molasses, Domino Specialty Ingredients, Pestell Minerals & Ingredients, Malt Products, ED&F Man Liquid Products UK, Zook Molasses Company, Meridian Foods, and Allied Old English among others.
Latest Innovations in the Molasses Market: A Snapshot
- In December 2021, USDA increased Michigan Sugar Company's production allocation by 22.7 percent, the greatest of any beet processor in the country, according to revisions in USDA guidelines aimed at increasing sugar production in the United States. As part of a three-pronged effort to meet sugar demand, the USDA had announced that it will allow allocations to be transferred between sugarbeet processors in the 2022 fiscal year.
Molasses Market Scope
|Forecast Unit||Value (USD)|
|Segment Covered||Type, Category, Source, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Spreckels Sugar Company, Crosby Molasses, B&G Foods, Michigan Sugar Company, Cora Texas Manufacturing Company, Buffalo Molasses, Domino Specialty Ingredients, Pestell Minerals & Ingredients, Malt Products, ED&F Man Liquid Products UK, Zook Molasses Company, Meridian Foods, and Allied Old English among others.|
Key Segments of the Global Molasses Market
Type Overview, 2019-2029 (USD Million)
Category Overview, 2019-2029 (USD Million)
Source Overview, 2019-2029 (USD Million)
- Dairy Products
Application Overview, 2019-2029 (USD Million)
- Candy Making
- Mixed Animal Feed
- Citric Acid
Regional Overview, 2019-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa