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Blackstrap Molasses Market Size To Exceed USD 18,185.8 million By 2027 | CAGR of 5.7%

11-30-2023 12:35 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Blackstrap Molasses Market

Blackstrap Molasses Market

Blackstrap Molasses Market by Form (Liquid and Powder), Application (Industrial fermentation, Food & Beverages, Pharmaceutical, Animal Feed, Other), and Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast 2021-2027." According to the report, the global blackstrap molasses industry generated $12.88 billion in 2019, and is expected to garner $18.18 billion by 2027, growing at a CAGR of 5.7% from 2021 to 2027.

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Blackstrap molasses form cane is composed of roughly 55% sucrose and other sugars, 20% water, 15% organic non-sugars, and 10% ash. Blackstrap molasses finds enormous applications in the various industries such as Animal feed, cosmetic, food and beverages, fertilizer and skin care. For instance, there is opportunity for much expansion of the use of inedible molasses as livestock feed in periods of ample supply. Use of molasses as feed has expanded sharply in recent years while its use for making industrial alcohol has declined.

Leading Key Players

Allied Old English, Inc.
Crosby's Molasses and More
B&G Foods, Inc.
Meridian Foods Limited
Zook Molasses Company
ED&F Man Liquid Products UK Ltd.
Malt Products Corporation
Pestell Minerals & Ingredients Inc.
Domino Specialty Ingredients
Buffalo Molasses

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Based on form, the liquid segment accounted for the highest market share in 2019, holding more than two-thirds of the global blackstrap molasses market, and is expected to maintain its leadership statusthroughout the forecast period. This is attributed to the lower cost of transportation as compared to the powdered form. The transportation cost of liquid form is four times lower than that of the powdered form. However, the powder segment is estimated to witness the largest CAGR of 6.6% from 2021 to 2027. This is due topreference from the pharmaceutical and food services sectors for ease in handling.

Exploration of the blackstrap molasses in the cosmetic industries has given rise for the growth of the blackstrap molasses market during the forecast period. Viscous nature and vital sources for the minerals, blackstrap molasses is used for the cosmetic and skin care products. Growing trend of use of plant-based organic fertilizers has boosted the demand for blackstrap molasses. It is a considerable source of calcium, which makes it useful for soil fertility. Decaying soil fertility, low productivity of farm are major attributes to use plants based organic fertilizers, which likely to boost the blackstrap molasses market demand through fertilizer application segment.

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Based on region, North America is expected to portray the highest CAGR of 8.6% during the forecast period. This is duerise in the bakery and confectionery sector in the US region and surge in adoption of the plant-based ingredients in food and beverages. However, Asia-Pacific held the highest market share based on revenue with nearly two-fifths of the global blackstrap molasses market in 2019, and is expected to continue its highest contribution by 2027. This is attributed toincrease in purchasing power, changes in lifestyle & eating habits of people, high demand from the bakery sector, and rise in number of fast-food chains.

Key findings of the study

The blackstrap molasses market was valued at $12,889.9 million in 2019, and is estimated to reach $ 18,185.8 million by 2027, growing at a CAGR of 5.7% during the forecast period.

By form, the powder segment is estimated to witness the fastest growth, registering a CAGR of 6.6% during the forecast period.

In 2019, depending on distribution channel, the offline segment was valued at $ 8,199.0 million, accounting for 63.6% of the global blackstrap molasses market share.

In 2019, the Brazil was the most prominent market in LAMEA, and is projected to reach $ 3,036.6 million by 2027, growing at a CAGR of 3.3% during the forecast period.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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