Press release
Molasses Market 2024: Comprehensive Global Report and Trends
Molasses Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $19.42 billion In 2028 At A CAGR Of 5.9% :
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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Molasses Market Major Segments
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
Key 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.
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Prominent Trend - Innovative Offerings New Product Launches Drive Growth In The Molasses Market
New product launches and developments are a key trend gaining popularity in the molasses market. 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.
Molasses Market Players
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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Largest And Fastest Growing Region In The Market
North America was the largest region in the molasses market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the molasses market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Molasses Market Report Structure
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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