FMI Projects the Global Blackstrap Molasses Market to Expand at a 5.68% CAGR by 2032

The market for blackstrap molasses was valued at over US$ 13 billion in 2020, and it is anticipated to reach US$ 18.2 billion by 2032 after expanding at a CAGR of about 5.68% between 2022 and 2032. A significant factor driving the growth of the worldwide blackstrap molasses market is the increasing use of blackstrap molasses in a wide range of end-use applications due to its numerous health advantages.

The Increase in Health-awareness Serve as a Driver for Blackstrap Molasses Market

Due to hectic lifestyle, increase in the number of working women, economic feasibility, etc. the demand for ready-to-eat products is increasing. The consumer preference for convenience is increasing, and thus, the demand for bakery products is increasing at a high rate all across the globe which is estimated to boost the blackstrap molasses market.

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Blackstrap molasses is used while preparing a variety of bakery products such as muffins, cookies, bread, cakes, etc., and therefore, the increase in demand for bakery products is expected to have a positive impact on the blackstrap molasses market.

In recent years, health awareness is increasing among the consumers, and thus, prefer to use products that have high nutritional value. Therefore, the companies are trying to develop new innovative products that provide various health benefits. Thus, the use of blackstrap molasses serves as a suitable option as it is rich in vitamins, minerals, etc. and has a low glycemic index. The manufacturers of food and beverage industry can develop innovative and healthy products to attract health-conscious consumers.

The rise in awareness among consumers has increased the demand for dietary supplements, and is anticipated to serve as a driver for the blackstrap molasses market. Blackstrap molasses has antioxidant and anti-inflammatory properties which provide various health benefits. Blackstrap molasses is a rich source of iron that helps to maintain the hemoglobin level. It contains several minerals and vitamins that provide various health benefits.

Blackstrap Molasses Market: Regional Analysis

The influence of western culture, changing lifestyle, increase in disposable income, etc. are some of the drivers for the increase in the demand for bakery products in the Asia-Pacific region. Thus, the rise in consumption of bakery products is expected to increase the demand for blackstrap molasses as it is used in the preparation of various bakery products and at the same time provides various health benefits. Thus, the blackstrap molasses market is estimated to grow at a high rate in the Asia-Pacific region.

Blackstrap Molasses Market: Key Participants

Some of the market participants in the Blackstrap Molasses market are:

ASR Group
Allied Old English, Inc.
Imperial Sugar Company
Crosby Molasses Co Ltd.
B&G Foods, Inc.
Sweet Harvest Foods Inc
Meridian Foods Limited
Zook Molasses Company

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The research report presents a comprehensive assessment of the blackstrap molasses market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as product type, application, and end use.

The report covers exhaustive analysis on:

Market Segments
Market Dynamics
Market Size
Supply and Demand
Current Trends/Issues/Challenges pertaining to blackstrap molasses Market
Competition Landscape and Emerging Market Participants in blackstrap molasses market
Technology related to Production/Processing of blackstrap molasses
Value Chain Analysis of the blackstrap molasses Market

Regional analysis includes:

North America (U.S., Canada)
Latin America (Mexico, Brazil)
Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
East Asia (China, Japan, South Korea)
South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
Oceania (Australia, New Zealand)
Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

Blackstrap Molasses Market Segmentation

The Blackstrap Molasses market can be segmented on the basis of nature, end use and distribution channel:

On the basis of nature, the Blackstrap Molasses market can be segmented as:

Organic
Conventional

On the basis of end use, the Blackstrap Molasses market can be segmented as:

Food and Beverage Processing
Bakery and Confectionery products
Breakfast solutions
Desserts and Puddings
Other Food and Beverage Processing
Functional Foods and Dietary Supplements
Foodservice/HoReCa (Hotels/Restaurants/Café)
Household
Others (e.g. Animal Feed Industry, etc.)
On the basis of the distribution channel, the coconut cream market is segmented into-

Direct Sales/B2B
Indirect Sales/B2C
Hypermarkets/ Supermarkets
Convenience Stores
Mass Grocery Retailers
Specialty Stores
Online Retailing

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Report Highlights:

Detailed overview of parent market
Changing dynamics of the blackstrap molasses market in the industry
In-depth market segmentation and analysis
Historical, current, and projected market size in terms of volume and value
Recent industry trends and developments in the blackstrap molasses market
Competitive landscape of the blackstrap molasses market
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on blackstrap molasses market performance
Must-have information for blackstrap molasses market players to sustain and enhance their market footprint

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.