Beetroot Molasses Market Explores New Opportunities By 2017 - 2027
Beetroot molasses market is segmented on the basis of application in different industries as animal feed industry, food and beverage industry, and other applications. In the animal feed industry, it is mainly used as a livestock feed additive that stimulates the total feed intake, improves milk yield in cattle, and is also an effective binding agent, hence dominates the beetroot molasses market by application. Similarly, in the food and beverage industry, beet molasses are used in biscuits & cookies, and fermented beverages as well as in the production of baker’s yeast. Other applications include the use of beet molasses as raw materials in production of ethanol which is used in various industries such as pharmaceuticals, chemical intermediates, personal care products and cleaners and sanitizers. The global beetroot molasses market is also segmented on the basis of organizational structure such as unorganized and organized market.
Beetroot molasses market is further segmented on the basis of regions as North America, Western Europe, Eastern Europe, Latin America, Asia Pacific Excluding Japan, Japan, and Middle East and Africa.
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Market Regional Outlook:
On the basis of regions, the beetroot molasses market has been segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. In regional markets North America is the largest producer of beetroot molasses. Over the next few years, the Asia-Pacific region is projected to be the fastest growing market for beetroot molasses. India is projected to grow with the highest CAGR in the beetroot molasses market by country, owing to the increasing standard of living.
Market Drivers and Trends:
Rapid rise in the utilization of beetroot molasses as animal feed coupled with the growing demand of ethyl alcohol has played a major role in driving the growth of the beetroot molasses market across the globe. Around 40% of beet molasses are used as animal feed across the world. Feed molasses stimulates the total feed intake, thus lowering the feed costs. It is also a cost effective alternative to traditional animal feed products. Thus the growth of animal feed demand drives the market for beet molasses.
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Ethyl alcohol or ethanol is a form of absolute spirit produced also using beet molasses. The growing demand for ethanol is industries such as pharmaceuticals, chemical intermediates, personal care products and cleaners and sanitizers has thus fuelled the growth of the beet molasses market across the globe. Another factor responsible for driving the beet molasses market is the rising usage of beet molasses in bakery and confectionery products such as cookies and biscuits as the usage of beet molasses in the same make the cookie dough softer, improve moisture content and makes the dough more suitable for handling.
Beetroot Molasses Market Key Players:
Some of the key players in the beetroot molasses market include Renuka beet sugar, Spreckals Sugar Company, Michigan Sugar Company, Amalgamated Sugar Company, Nippon Beet Sugar Manufacturing Co. Ltd., American Crystal Sugar Company, Crosby Molasses Company, Daqahila Sugar Company, Southern Minnesota Beet Sugar Cooperative, and ED&F MAN Deutschland GmbH.
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