Press release
Molasses Global Market Report 2024 - By Report, Size, Share, Analysis, Outlook By 2033
Molasses
The Business Research Company offers in-depth market insights through Molasses Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The molasses market size has grown strongly in recent years. It will grow from $14.23 billion in 2023 to $15.45 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to animal feed industry growth, alternative energy source, industrial fermentation, diversification in agriculture, molasses as a sweetener, microbial growth medium.
The molasses market size is expected to see strong growth in the next few years. It will grow to $19.42 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to bioplastics production, market demand for specialty sugars, global population growth, sustainable agriculture practices, expanded application in food and beverages. Major trends in the forecast period include animal feed formulations, organic and non-GMO molasses, bioethanol production, molasses in distillery and alcohol industries, advancements in fermentation technology.
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Market Segmentation:
The molasses market covered in this report is segmented -
1) By Type: Regular Molasses, Blackstrap Molasses
2) By Sources: Sugarcane, Sugar Beet
3) By Category: Organic, Conventional
4) By Application: Feed, Food And Beverage, Other Applications
Major Driver - Rising Import And Export Activities Boost Molasses Market Growth
The increasing import and export activities due to the growing applications of molasses globally are expected to propel the growth of the molasses market. 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. For instance, in September 2023, according to the Observatory of Economic Complexity, a US-based online data visualization and dissemination tool focusing on economic activity location and dynamics, exports of molasses from the United States grew by $625k (38.4%) between September 2022 and September 2023, to $2.25M from $1.63M, while imports jumped by $5.04M (31%), from $16.3M to $21.3M. Therefore, the increasing import and export activities due to the growing applications of molasses globally are expected to propel the growth of the molasses market.
Competitive Landscape:
Major companies operating in the molasses market report are Archer Daniels Midland Company, Louis Dreyfus Company, Cosan S.A., ED&F Man Holdings Ltd, B&G Foods Inc., Michigan Sugar Company, Imperial Sugar Company, Cora Texas Manufacturing Company, Spreckels Sugar Company Inc., Sweet Harvest Foods Inc., Crosby Molasses Co Ltd., Indiana Sugars Inc., Allied Old English Inc., Amoretti LLC, Malt Products Corporation, Good Food Inc., Domino Specialty Ingredients, International Molasses Corporation Ltd., Sucden, Helmut Möller GmbH & Co KG, Hansa Melasse GmbH, Peter Cremer Holding AG, United Molasses Company Ltd., West Indies Rum Distillery Limited, Renuka Holdings plc, Mitr Phol Sugar Corporation, Raízen S.A., Tereos International SA, Mane Group, Westway Feed Products LLC
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Top Trend - Strategic Partnerships Propel Growth In Molasses Market
Major companies operating in the molasses market are adopting a strategic partnership approach to enhance distribution networks, innovate product offerings, and expand market presence. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in January 2023, AFYREN SA, a France-based greentech company announced a partnership with Mitr Phol Group, a Thailand-based company that manufactures and processes molasses. This innovative collaboration with AFYREN is under Mitr Phol Group's strategic vision for sustainable development, as it will allow Mitr Phol Group to reinforce the circular and sustainable approach to manufacturing operations through the development of environmentally friendly biobased products. AFYREN and Mitr Phol's agreement would result in the establishment of the AFYREN Group's second bio-based organic acid manufacturing plant. It is consistent with AFYREN's build and operate development strategy, which tries to be as near to raw material sources and client markets as feasible, with a focus on Asia and North America.
The Table Of Content For The Market Report 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
…..
27. Molasses Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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