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 |
|
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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