Molasses Market, Demand, Regional Analysis, Share and Growth Factors to Forecast till 2027
Based
on type, the global molasses market has been segmented into light, dark,
blackstrap, and others. The blackstrap segment is anticipated to gain the largest
revenue share in the global molasses market 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 market. 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.
Key
Players
Some of
the key players in the global molasses market 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).
Market Segmentation:
The global
molasses market has been segregated, by category, into organic and
conventional. The conventional segment is expected to garner major share in the
global molasses market 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 market 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
market 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 market 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.
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Regional
Analysis
The global molasses market 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 market 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 market 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.
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