IMARC Group, a leading market research company, has recently releases report titled “Blackstrap Molasses Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global blackstrap molasses market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the blackstrap molasses market?
The global blackstrap molasses market size reached US$ 12.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.55% during 2023-2028.
What are blackstrap molasses?
Blackstrap molasses is a nutrient-rich byproduct of sugar production. It contains sugar and other beneficial nutrients, including iron. It is a bitter concoction obtained by extracting sugarcane juice by smashing and shredding a cane. It is extracted only at the third stage of boiling, also known as grade C molasses. It is a superfood that can substitute sugar with a healthy alternative. It contains essential nutrients, such as vitamins B-12, B6, manganese, iron, carbohydrate, selenium, potassium, calcium, and copper. It is highly beneficial for skin and hair, acts as a laxative that enhances digestion, improves bone health, assists in curing anemia, and reduces PMS-related issues.
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What are the growth prospects and trends in the blackstrap molasses industry?
The global market is majorly driven by the increasing product demand in the food and beverage industry. In line with this, the rising awareness among consumers regarding the benefits offered by the product is significantly contributing to the market. Furthermore, the growing product utilization in industrial fermentation is positively influencing the market. Apart from this, the escalating popularity of the product, particularly among individuals suffering from health conditions, such as diabetes, obesity, and anemia, is catalyzing the market. Due to its low cost and several health benefits, blackstrap molasses has emerged as an excellent alternative to refined sugar and other artificial sweeteners. This, in turn, is strengthening the market. Besides, the rapid utilization of the product in the production of alcohol via the ethanol fermentation process is favoring the market.
Additionally, blackstrap molasses are extensively used across numerous industries, such as food and beverages, cosmetics, fertilizers, skincare, and animal feed, thereby providing a boost to the market. Some of the other factors driving the market growth include the increasing sugarcane production, rising health consciousness among consumers, growing consumption of ready-to-eat (RTE) products, and the escalating prevalence of diabetes.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Form:
- Liquid
- Powder
Breakup by Product:
- Organic
- Conventional
Breakup by Distribution Channel:
- Offline
- Online
Breakup by Application:
- Industrial Fermentation
- Food and Beverages
- Pharmaceutical
- Animal Feed
- Others
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Allied Old English Inc.
- B&G Foods Inc.
- Buffalo Molasses LLC
- Crosby Molasses Co Ltd.
- Domino Speciality Ingredients (American Sugar Refining Inc.)
- E D & F Man Holdings Limited
- Louis Dreyfus Company B.V. (Louis Dreyfus Holding B.V.)
- Malt Products Corporation
- Sweet Harvest Foods (Natural American Foods Inc)
- Zook Molasses Company
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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