According to the latest report by IMARC Group, titled "Blackstrap Molasses Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," the global blackstrap molasses market reached a value of US$ 12.5 Billion in 2022. 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.
Global Blackstrap Molasses Market Trends:
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. On account of the factors above,the market is anticipated to reach a value of US$ 17.1 Billion by 2028, exhibiting a CAGR of 5.55% during 2023-2028.
- On the basis of the form, the market has been categorized into liquid and powder.
- Based on the product, the market has been classified into organic and conventional.
- Based on the distribution channel, the market has been segmented into offline and online.
- Based on the application, the market has been categorized into industrial fermentation, food and beverages, pharmaceutical, animal feed, and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players 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.
|Base Year of the Analysis
| Historical Period
||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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