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Global Black Strap Molasses Market – Industry Trends and Forecast to 2029

  • Food & Beverage
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Black Strap Molasses Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR - % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 12.90 Billion
Diagram Market Size (Forecast Year) USD 20.10 Billion
Diagram CAGR %

Global Black Strap Molasses Market, By Form (Liquid and Powder), Application (Industrial fermentation, Food & Beverages, Pharmaceutical, Animal Feed, Other), and Distribution Channel (Offline and Online) – Industry Trends and Forecast to 2029

Market Analysis and Size

As it is used in producing raw alcohol, blackstrap molasses is gaining popularity in industrial fermentation. Increasing cane sugar production is expected to drive product market growth during the forecast period.

Data Bridge Market Research analyses that the black strap molasses market was valued at USD 12.9 billion in 2021 and is expected to reach the value of USD 20.10 billion by 2029, at a CAGR of 5.7% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Form (Liquid and Powder), Application (Industrial fermentation, Food & Beverages, Pharmaceutical, Animal Feed, Other), and Distribution Channel (Offline and Online)

Countries Covered

U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Michigan Sugar Company (US), B&G Foods, Inc.(US), Crosby Molasses Co Ltd. (Canada). ADM (US), Cora Texas Manufacturing Company, LLC (US), Malt Products Corporation (US), Westway Feed Products LLC (US), Good Food Inc. (US), E D & F Man Holdings Limited (UK), B&G Foods, Inc. (US), Sweet Harvest Foods Inc. (US), Domino Specialty Ingredients (US)

Opportunities

  • The commercialization of the internet of things
  • The rise in globalization, and the growing trend of shopping on online platforms
  • Growing demand from the personal care and pharmaceutical industry

Market Definition

Blackstrap molasses is a sweetener made from sugar beets, sugarcane, pomegranate, dates, carob, and sorghum. In comparison to regular molasses, it is low in calories and high in calcium, potassium, selenium, magnesium, and niacin.

Black Strap Molasses Market Dynamics

Drivers

  • Consumers shift from refined sugar to a more healthy substitute

Due to its low cost and numerous health benefits, blackstrap molasses has emerged as an excellent substitute for refined sugar and other artificial sweeteners. It has grown in popularity, particularly among people suffering from healthy conditions such as diabetes, obesity, and anaemia, because it helps to stabilise blood sugar levels, improves bone health, and maintains blood pressure, among other health benefits.

  • High consumption of molasses for the alcohol production and growing demand from various end user industries.

Blackstrap molasses has primarily been used in the production of alcohol via the ethanol fermentation process. Ethanol fermentation, also known as alcoholic fermentation, produces raw alcohol that is then distributed to companies that produce consumable alcohol. Due to its diverse uses in industries such as food and beverages, cosmetics, fertilisers, skin care, and animal feed, blackstrap molasses has seen significant growth.

Consumer fitness awareness as a result of alertness movements promoted by companies, governments, and non-governmental organisations is expected to inspire demand for black strap molasses in the coming years.

Opportunity

The commercialization of the internet of things, the rise in globalisation, and the growing trend of shopping on online platforms are all contributing to the growth of the product market. Growing demand from the personal care and pharmaceutical industry will further add to the market growth.

Restraints

One of the major factors impeding the growth of the global blackstrap molasses Industry is changing climatic conditions, which directly affect the sales of stick molasses. As a result, it has a significant impact on market development.

This black strap molasses market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the black strap molasses market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Black Strap Molasses Market

The COVID-19 pandemic has had a negative impact on the blackstrap molasses market. Due to a lack of labourers, global transposition, and the closure of cane sugar factories, production has decreased significantly. Furthermore, unfavourable conditions and a lack of government support for farmers in major cane sugar producing countries such as India and Brazil, as well as lockdown and the emergence of curfew in the pandemic, are having a significant impact on the availability of human resources in cane sugar factories, which is expected to impede product market growth.

Global Black Strap Molasses Market Scope

The black strap molasses market is segmented on the basis of form, distribution channel, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Form

  • Liquid
  • Powder

Distribution channel

  • Offline
  • Online

Application

  • Industrial fermentation
  • Food & Beverages
  • Pharmaceutical
  • Animal Feed
  • Other

Black Strap Molasses Market Regional Analysis/Insights

The black strap molasses market is analysed and market size insights and trends are provided by country, form, distribution channel, and application as referenced above.

The countries covered in the black strap molasses market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominated the blackstrap molasses market and this dominance is expected to continue throughout the forecast period. Massive cane sugar production is one of the key factors driving the region's product market growth. This is primarily due to favourable environmental conditions, a large plantation area, and government support for cane sugar production.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Black Strap Molasses Market Share Analysis

The black strap molasses market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to black strap molasses market.

Some of the major players operating in the black strap molasses market are:

  • Michigan Sugar Company (US)
  • B&G Foods, Inc.(US)
  • Crosby Molasses Co Ltd. (Canada)
  • ADM (US)
  • Cora Texas Manufacturing Company, LLC (US)
  • Malt Products Corporation (US)
  • Westway Feed Products LLC (US)
  • Good Food Inc. (US)
  • E D & F Man Holdings Limited (UK)
  • B&G Foods, Inc. (US)
  • Sweet Harvest Foods Inc. (US)
  • Domino Specialty Ingredients (US)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The growth rate of the market in forecast period of 2022-2029 is 5.7%.
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