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Molasses Market Trends, Top Companies, Share, Growth And Forecast 2032
Molasses Market
The Business Research Company's Molasses Global Market Report 2023 identifies increasing import and export activities as the major driver for the molasses market's growth in the forecast period. Molasses is used in various industries such as food and beverage, healthcare, pharmaceutical, personal care products, animal feeds, and others. Due to several applications of molasses, there is a huge demand coming from around the world which is pushing the companies to get significantly involved in the import and export activities of molasses. In turn, this is driving more demand for molasses globally.
The global molasses market size grew from $12.89 billion in 2022 to $13.73 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The molasses market size is expected to grow to $18.22 billion in 2027 at a CAGR of 7.3%.
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Major competitors in the molasses market are Allied Old English Inc., Amoretti, Archer Daniels Midland Co, B and G Foods Inc., Cora Texas Manufacturing Co, Crosby Molasses Co Ltd.
A key trend in the molasses market includes new product launches and developments.Companies are launching new products to stay ahead of the competition and increase market share. New product launches help companies build their brand, increase product portfolio, increase awareness and capture additional revenue. For instance, in June 2021, International Molasses Corporation, a US-based producer and provider of sugar cane molasses products, invert syrups, honey, agave syrup, and custom formulated sweeteners, launched CaneRite Panela, a natural, unrefined, and non-centrifuged powder sweetener or dry molasses made from the freshly squeezed juice of the sugar cane plant. Its nutritional profile is that of the whole cane plant including potassium, calcium, magnesium, manganese, iron, and zInc., It has five times more vitamins and minerals than raw sugar.
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The molasses market is segmented -
• By Type: Regular Molasses, Blackstrap Molasses
• By Sources: Sugarcane, Sugar Beet
• By Category: Organic, Conventional
• By Application: Feed, Food And Beverage, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the molasses market.
The Business Research Company's "Global Molasses Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Molasses Market Include:
1. Executive Summary
2. Molasses Market Characteristics
3. Molasses Market Trends And Strategies
4. Molasses Market - Macro Economic Scenario
5. Molasses Market Size And Growth
……
26. Africa Molasses Market
27. Molasses Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Molasses Market
29. Molasses Market Future Outlook and Potential Analysis
30. Appendix
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