Blackstrap Molasses Market Report by Form (Liquid, Powder), Product (Organic, Conventional), Distribution Channel (Offline, Online), Application (Industrial Fermentation, Food and Beverages, Pharmaceutical, Animal Feed, and Others), and Region 2024-2032
The global blackstrap molasses market size reached US$ 13.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 20.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.7% during 2024-2032.
Market Size in 2023
US$ 13.2 Billion
Market Forecast in 2032
US$ 20.2 Billion
Market Growth Rate 2024-2032
Blackstrap molasses is a sweetener obtained from the processing of raw sugar beets, sugarcane, pomegranate, dates, carob, and sorghum. It is low in calories and contains a high amount of calcium, potassium, selenium, magnesium, and niacin as compared to regular molasses. It aids in preventing blood clotting, relieving menstrual cramps, maintaining the health of uterine muscles, and relieving premenstrual syndrome (PMS) symptoms. It also assists in combatting stress and anxiety, controlling mood, and preventing pain, depression, and fatigue. Presently, it is employed in the food and beverage (F&B) industry to provide moisture and tenderness to baked goods and increase their shelf life.
Blackstrap Molasses Market Trends:
A surge in the consumption of ready-to-eat (RTE) products due to hectic lifestyles, inflating disposable incomes, and the increasing health consciousness among individuals represents one of the primary factors impelling the market growth. Blackstrap molasses is utilized as a spread or topping on toast, oatmeal, and porridges. It also finds application in the preparation of marinades, barbeque sauces, and glazes, and intensifies richness, lowers the acidic taste, and enhances the nutrition value of the coffee. Moreover, it has a low glycemic index and contains a high level of chromium, which increases glucose tolerance and naturally slows the metabolism of carbohydrates, thereby resulting in less insulin production. This, in confluence with the growing prevalence of diabetes, is catalyzing the demand for blackstrap molasses worldwide to stabilize blood sugar levels. Furthermore, it helps reduce free radicals in the body, which are considered one of the primary causes of cancer. As the risk of developing cancer rises with age, the rising geriatric population and the increasing awareness among individuals about the benefits of consuming blackstrap molasses are creating a positive market outlook.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global blackstrap molasses market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on form, product, distribution channel and application.
Breakup by Form:
Breakup by Product:
Breakup by Distribution Channel:
Breakup by Application:
Food and Beverages
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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) and Zook Molasses Company.
Base Year of the Analysis
Form, Product, Distribution Channel, Application, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
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) and Zook Molasses Company
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Key Questions Answered in This Report
The global blackstrap molasses market was valued at US$ 13.2 Billion in 2023.
We expect the global blackstrap molasses market to exhibit a CAGR of 4.7% during 2024-2032.
The rising demand for blackstrap molasses as they aid in preventing blood clotting, relieving menstrual cramps, maintaining the health of uterine muscles, relieving Premenstrual Syndrome (PMS) symptoms, combatting stress and anxiety, etc., is primarily driving the global blackstrap molasses market.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of blackstrap molasses.
Based on the form, the global blackstrap molasses market has been segmented into liquid and powder. Currently, liquid holds the majority of the total market share.
Based on the product, the global blackstrap molasses market can be bifurcated into organic and conventional, where organic currently exhibits a clear dominance in the market.
Based on the distribution channel, the global blackstrap molasses market has been divided into offline and online. Currently, online accounts for the largest market share.
Based on the application, the global blackstrap molasses market can be segregated into industrial fermentation, food and beverages, pharmaceutical, animal feed, and others. Among these, industrial fermentation exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global blackstrap molasses market include 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), and Zook Molasses Company.
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