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The blackstrap molasses market size is forecast to increase by USD 1.62 billion, at a CAGR of 3.27% between 2024 and 2028. Blackstrap molasses, a byproduct of the sugar refining process, is experiencing a surge in demand due to its natural sweetness and health benefits. Unlike refined sugars, blackstrap molasses is rich in essential minerals such as calcium, magnesium, and potassium, making it a popular choice among health-conscious consumers. Moreover, its high mineral content contributes to various health benefits, including improved bone health and better digestive function. However, it's essential to note that blackstrap molasses contains calories and natural sugars, so consumption should be moderated. Conversely, the high fructose content makes it an attractive ingredient for alcohol production. Despite its health benefits, blackstrap molasses should be used judiciously as part of a balanced diet.
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In today's health-conscious landscape, industries ranging from health industries to the bakery industry are increasingly integrating dark molasses into their products due to its rich antioxidant content, which can combat anemia and support overall health. Both organic and conventional approaches are used in processing molasses, available in liquid and powder forms for versatile applications in industrial fermentation.With the rising vegan population influencing trends in functional food and beverage, molasses serves as a natural sweetener in various products, appealing to the skincare industry and animal feed industry alike. It addresses health concerns such as diabetic illness by providing alternative sweeteners and ethical ingredients, essential for managing conditions like iron deficiency anemia and reducing risks of colorectal cancer. Catering to vegan and plant-based individuals, molasses supports holistic healthcare and alternative medicine practices, aligning with principles of sustainable food production and ethical food production. Its inclusion in nutritional supplements underscores its role in promoting health and wellness across diverse consumer demographics.
The increasing demand for low-calorie sweeteners is one of the key factors driving the global blackstrap molasses market growth. The increasing demand for low-calorie sweeteners globally among consumers is driving the growth of the global blackstrap molasses market. Urbanization has led to an increase in the per capita disposable income and spending power of consumers globally, which has led to changes in lifestyle and dietary and taste preferences with a specific focus on healthier food options. Sedentary lifestyles, advances in transportation, and improved infrastructure facilities have adversely affected the health of consumers. People are becoming increasingly aware of their dietary intake and ingredients in the food they consume and are shifting toward healthier dietary habits, which is spurring the demand for healthier, low-calorie sweeteners that do not increase blood sugar levels and reduce the risk of health issues. The sweetening capacity of sugar alternatives is about a hundred times more than that of sugar. The US FDA has approved a list of low-calorie sweeteners that are safe to consume. Thus, the demand for non-traditional artificial sweetener products is growing with more players entering the market space, fostering the growth of the global blackstrap molasses market during the forecast period.
Key Market Trends
Rising cold-pressed molasses extraction activities will fuel the global blackstrap molasses market growth. The increasing demand for molasses extract, which is produced using the cold pressing method, will positively impact the growth of the market in focus during the forecast period. The cold-pressing technique uses a hydraulic press instead of a centrifugal press for the extraction of blackstrap molasses, and the end product is not subjected to heat during the extraction process. Several players in the global blackstrap molasses market are introducing packaged blackstrap molasses extract products that are manufactured using cold-pressed extraction technology, and the number of these new product launches is expected to increase during the forecast period. However, the high price of packaged molasses extract produced using the cold-pressed extraction method will deter budget-conscious consumers from buying such products. The health benefits associated with the consumption of cold-pressed molasses extract will gain the attention of health-conscious consumers and will help to increase the sales of cold-pressed molasses extract during the forecast period.
Major Market Challenge
The fluctuating prices of molasses extract are the major challenge to the global blackstrap molasses market growth. One of the key deterrents to the growth of the global blackstrap molasses market is the fluctuating price of molasses extract. The prices of molasses extract fluctuate due to several reasons, such as natural calamities, hoarding by players, and surplus production. Molasses extract is used as a key ingredient in the production of ethanol, and due to the increased fluctuation in its prices, various small-scale ethanol manufacturers have stopped their operations. In Northern India, the prices of molasses extract declined by about 45% during the second half of 2020. The fluctuations in the price of molasses are expected to continue during the forecast period, which will impact the growth of the market in focus.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Sweet Harvest Foods Inc. - The company offers blackstrap molasses, which has lower sugar and higher mineral content than traditional molasses.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The liquid segments is estimated to witness significant growth during the forecast period.The liquid segment of the global blackstrap molasses market was the largest and fastest growing in 2023. Blackstrap molasses are predominantly applied in the ethanol fermentation process, which is an intoxicating agent used to produce varieties of alcoholic and non-alcoholic drinks. The increase in the number of breweries, microbreweries, pubs, and bars that offer different types of alcoholic and non-alcoholic beverages, aided by the rising disposable income of the people, are driving the growth of the liquid segment of the market in focus during the forecast period.
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The liquid segments accounted for USD 5.26 billion in 2018 and showed a gradual increase during the forecast period. In addition, the increasing demand for liquid molasse extracts, used as a natural sweetener, is growing particularly among people suffering from a few health conditions, including diabetes, obesity, and anemia. Thus, the awareness of the harmful effects of artificial sweeteners among consumers, aided with the significance of using liquid molasse extracts to reduce blood sugar levels and improve bone health, will fuel the growth of the liquid segment of the global blackstrap molasses market during the forecast period.
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APAC is estimated to contribute 66% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In 2023, APAC was the fastest-growing region of the global blackstrap molasses market. The rise in health concerns due to the increased prevalence of obesity, diabetes, heart issues, and related health issues, coupled with the increasing health awareness among the population, is driving the demand for natural and low-calorie sweeteners such as blackstrap molasse extracts in APAC during the forecast period. For instance, India faced a rising prevalence of obesity. It is estimated that around 135 million individuals in India were obese. Additionally, prevailing establishments of high-end pubs and bars in countries including India, China, Japan, and Singapore, owing to rapid urbanization, changing lifestyles, and increasing disposable income, are also driving the demand for blackstrap molasses to procure both alcoholic and non-alcoholic beverages in APAC.
For instance, Gawky Goose, an Irish-themed pub, opened their new franchised outlet in Bangalore, with the intention of serving classic and new cocktails, as well as other exotic alcoholic beverages at a reasonable cost. Such establishments are expected to fuel the demand for blackstrap molasses to procure alcoholic beverages, fostering the growth of the blackstrap molasses market in APAC during the forecast period. Furthermore, the endorsements of artificial sweetener brands by culinary experts and prominent film personalities, aided by the increasing penetration of private label brands in APAC, are also driving the growth of the regional blackstrap molasses market during the forecast period. Such offerings and awareness drives are expected to fuel the growth of the regional blackstrap molasses market during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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In the industrial fermentation sector, the demand for antioxidants is rising as they play a crucial role in functional food and beverage trends within the retail industry. Challenges such as allergies and seasonal variability impact the availability of raw materials, contributing to shipping delays and affecting industries reliant on commodities like sugarcane. Total sugars and protein content in sugarcane are pivotal for global sugar production, sustaining cane sugar factories and supporting food and beverages, cosmetic, and fertilizers sectors. Sugarcane-derived products are also integral to skin care and the animal feed segment, enhancing livestock health and contributing to the meat trade. In the realm of organic cosmetic and plant-based fertilizers, concerns about allergic reactions and side effects prompt a shift towards organic and natural products, bolstered by insights from alternative medicine practitioners. These practitioners advocate for nutritional supplements to address health challenges like colorectal cancer, emphasizing the importance of holistic approaches in the fertilizers industry.
Market Scope |
|
Report Coverage |
Details |
Page number |
132 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.27% |
Market growth 2024-2028 |
USD 1.62 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.13 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 66% |
Key countries |
China, India, US, Japan, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amoretti, Allied Old English Inc., BE San Antonio , B and G Foods Inc., BUFFALO MOLASSES LLC, Cora Texas Manufacturing Co., Crosby Molasses Co. Ltd., ED and F Man Holdings Ltd., Fairly Traded Organics LLC, Florida Crystals Corp., Louis Dreyfus Co. BV, Malt Products Corp., Meridian Group, Michigan Sugar Co., Pestell Nutrition Inc., Pure Diets India Ltd., Santander Sugar Group, Sweet Harvest Foods Inc., and Zook Molasses Co. |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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