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The molasses market size is forecast to increase by USD 4.45 billion between 2022 and 2027, accelerating at a CAGR of 5.6%. China held the largest market revenue in 2017, projecting an annual revenue of USD 1.15 billion. The report covers the Molasses Market industry forecast and is segmented into Application including feed, food, and beverage, Type including blackstrap molasses and regular molasses, and Geography including APAC, North America, Europe, Middle East and Africa, and South America. The market size, historical market size (2017-2021), and forecasts are provided on the basis of value (USD billion) for all the above segments.
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In 2020, the COVID-19 pandemic adversely affected countries like India, Japan, and Australia, prompting strict nationwide lockdowns. The molasses industry, crucial for bakery products, suffered as production units ceased operations. Bakery businesses were hit hard, impacting the regional molasses market. However, by Q4 2020, with efficient vaccination programs and adherence to social distancing, most bakeries and molasses production units resumed operations. Currently, apart from China, most APAC economies have rebounded and are approaching pre-COVID levels. The region is expected to maintain its leading position and grow in the forecast period.
The growing applications of molasses is a key factor driving the market growth. The global molasses market is poised for growth, driven by the expanding utilization of molasses extract across diverse industries. Molasses extract serves various sectors like food and beverages, personal care, healthcare, pharmaceuticals, and animal feed. In the food and beverage industry, it acts as a natural sweetener in products ranging from baked goods to beverages, including powdered drinks, energy drinks, and more. The demand for natural sweeteners enhances the molasses extract market. Its cost-effectiveness and nutritional value make it a preferred choice in animal feed. Additionally, molasses extract finds applications in pharmaceuticals, sauces, and condiments, contributing to its versatile use and the overall growth of the global molasses market in the forecast period.
Feed Segment is Significantly Driving the Market Growth.
The feed segment showed a gradual increase in the market share of USD 7.99 billion in 2017 and continued to grow by 2021. Molasses extract is a popular feed option for livestock such as cattle as it is easily digestible and enhances milk production. Molasses is added as a supplement to poor-quality roughage, particularly during dry weather conditions when the availability of natural feed resources is at the lowest. Furthermore, molasses extract is high in potassium and sulfur content but is low in protein. A stock feed comprising 20% or more molasses must be ideally supplemented with more fat, protein, or starch-based content. The popularity of molasses extract as a cheap stock feed supplement will trigger the growth of the global molasses market during the forecast period.
Molasses Market - Revenue Share by Feed Segment, 2017-2027
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APAC Holds a Prominent Position in the Molasses Market
APAC is estimated to contribute 62% to the growth of the global market during the forecast period. Factors such as increasing health awareness among consumers and the growing use of molasses as an ingredient in livestock feed are driving the growth of the molasses market in APAC. The demand for natural sweeteners is increasing among consumers with changing lifestyles, increasing disposable income, and various other factors. Besides, the market is witnessing an increase in the penetration of private-label brands that offer molasses extracts. In addition, endorsements of artificial sweetener brands by culinary experts and prominent film personalities have increased the consumption of molasses in the region.
Molasses Market Size, By Region, Global, 2017-2027
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The Molasses Market is fragmented in nature. Some significant players include Archer Daniels Midland Co., B and G Foods Inc., Barentz International BV, BUFFALO MOLASSES LLC, Cora Texas Manufacturing Co.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Crosby Molasses Co. Ltd., ED and F Man Holdings Ltd., Fairly Traded Organics LLC, Florida Crystals Corp., Malt Products Corp., Meridian foods Ltd., Michigan Sugar Co., Natures Creation, Noushig Inc., NPK INDUSTRIES, Pioneer Agro Industry, Quality Concepts LLC, Sweet Harvest Foods Inc., Triple Crown Nutrition Inc., and Zook Molasses Co.
The molasses market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
Molasses Market Scope |
|
Report Coverage |
Details |
Page number |
152 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.6% |
Market growth 2023-2027 |
USD 4.45 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.12 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 62% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Archer Daniels Midland Co., B and G Foods Inc., Barentz International BV, BUFFALO MOLASSES LLC, Cora Texas Manufacturing Co., Crosby Molasses Co. Ltd., ED and F Man Holdings Ltd., Fairly Traded Organics LLC, Florida Crystals Corp., Malt Products Corp., Meridian foods Ltd., Michigan Sugar Co., Natures Creation, Noushig Inc., NPK INDUSTRIES, Pioneer Agro Industry, Quality Concepts LLC, Sweet Harvest Foods Inc., Triple Crown Nutrition Inc., and Zook Molasses Co. |
Market dynamics |
Parent market analysis, Market 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 report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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