Global Molasses Market Trend Research Report Information: by Type, Share, Application and Forecast Till 2027
Market Highlights:
Molasses is a viscous
bi-product obtained from refining sugarcane and sugar beets into sugar.
Sugarcane and sugar beets molasses has a thicker texture. Molasses is produced
on a large scale in Thailand, India, Brazil, Taiwan, the United States and
Philippines, as the sugarcane cultivation rate is high in these countries.
Molasses is used for healing burns, treating constipation, alleviating blood
pressure, and reducing fat accumulation in the human body. Thus, considering
these factors, molasses industry is expected witness high growth in forecast
period.
Based on type, the global molasses industry has been segmented into
light, dark, blackstrap, and others. The blackstrap segment is anticipated to
gain the largest revenue share in the global molasses industry and shall
maintain lead throughout the forecast period. Blackstrap molasses is being used
in various applications such as food, alcoholic beverages, animal feed, and
others due to the health benefits offered by the blackstrap molasses syrup.
This is a crucial determinant that is catalyzing the growth of blackstrap
segment in the global molasses industry. The same segment is expected to grow
with the highest growth rate owing to the growth of end-use industries in which
molasses is used.
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The global molasses industry has been segregated, by category, into
organic and conventional. The conventional segment is expected to garner major
share in the global molasses industry owing to the huge availability of
conventional molasses. However, the organic segment is anticipated to project a
higher CAGR during the forecast period due to the rising inclination of
consumers towards organic products.
The global molasses industry is been classified, by source, into
sugarcane, sugar beets and others. The sugarcane segment is expected to gain
largest share, owing to the factor that sugarcane is cultivated on a large
scale and the cost of the process to extract molasses is low.
The global molasses industry has been segregated, by application, into
functional food & beverages, animal feed, biofuel and others. The food
& beverage segment is projected to gain largest share in the global molasses
industry due to the major application of molasses as sweetener in food and
beverage products. The high antioxidant activity of molasses categorizes it as
superfoods and play a vital role as a food supplement. However, the animal feed
segment is anticipated to grow with the highest growth rate during the forecast
period owing to the significant increase in animal farming.
Regional Analysis:
The global molasses industry has been segmented on
the basis of region, into North America, Europe, Asia-Pacific, Rest of the
World.
Asia-Pacific is expected to dominate the global molasses industry owing
to the large production of molasses in the region. Countries such as India,
Thailand, Philippines and Indonesia are among the largest producers of molasses
in the region.
Europe and RoW molasses industry is expected to grow at a rapid pace due
to the surging production and consumption of molasses in the regions. Moreover,
North America is also expected to project a significant market share owing to
the increasing awareness regarding the health benefits of molasses and
increasing preference of among the consumers in the region.
Key Players:
Some of the key players in the global molasses industry are 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).
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NOTE: Our Team of
Researchers are Studying Covid19 and its Impact on Various Industry Verticals
and wherever required we will be considering Covid19 Footprints for Better
Analysis of Market and Industries. Cordially get in Touch for More Details.
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