10/07/2022, Newark // Future Market Insights, Inc. //
The global blackstrap molasses market size was estimated to be worth around US$ 13 Billion in 2020 and is forecast to grow at a CAGR of around 5.68% between 2022 and 2032, surpassing US$ 18.2 Billion by 2027. Rising adoption of blackstrap molasses in a multitude of end use applications due to its various health benefits is a major force behind the expansion of the global blackstrap molasses market.
The Increase in Health-awareness Serve as a Driver for Blackstrap Molasses Market
Due to hectic lifestyle, increase in the number of working women, economic feasibility, etc. the demand for ready-to-eat products is increasing. The consumer preference for convenience is increasing, and thus, the demand for bakery products is increasing at a high rate all across the globe which is estimated to boost the blackstrap molasses market.
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Blackstrap molasses is used while preparing a variety of bakery products such as muffins, cookies, bread, cakes, etc., and therefore, the increase in demand for bakery products is expected to have a positive impact on the blackstrap molasses market.
In recent years, health awareness is increasing among the consumers, and thus, prefer to use products that have high nutritional value. Therefore, the companies are trying to develop new innovative products that provide various health benefits. Thus, the use of blackstrap molasses serves as a suitable option as it is rich in vitamins, minerals, etc. and has a low glycemic index. The manufacturers of food and beverage industry can develop innovative and healthy products to attract health-conscious consumers.
The rise in awareness among consumers has increased the demand for dietary supplements, and is anticipated to serve as a driver for the blackstrap molasses market. Blackstrap molasses has antioxidant and anti-inflammatory properties which provide various health benefits. Blackstrap molasses is a rich source of iron that helps to maintain the hemoglobin level. It contains several minerals and vitamins that provide various health benefits.
Blackstrap Molasses Market: Regional Analysis
The influence of western culture, changing lifestyle, increase in disposable income, etc. are some of the drivers for the increase in the demand for bakery products in the Asia-Pacific region. Thus, the rise in consumption of bakery products is expected to increase the demand for blackstrap molasses as it is used in the preparation of various bakery products and at the same time provides various health benefits. Thus, the blackstrap molasses market is estimated to grow at a high rate in the Asia-Pacific region.
Blackstrap Molasses Market: Key Participants
Some of the market participants in the Blackstrap Molasses market are:
- ASR Group
- Allied Old English, Inc.
- Imperial Sugar Company
- Crosby Molasses Co Ltd.
- B&G Foods, Inc.
- Sweet Harvest Foods Inc
- Meridian Foods Limited
- Zook Molasses Company
The research report presents a comprehensive assessment of the blackstrap molasses market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as product type, application, and end use.
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Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
Blackstrap Molasses Market Segmentation
The Blackstrap Molasses market can be segmented on the basis of nature, end use and distribution channel:
On the basis of nature, the Blackstrap Molasses market can be segmented as:
On the basis of end use, the Blackstrap Molasses market can be segmented as:
- Food and Beverage Processing
- Bakery and Confectionery products
- Breakfast solutions
- Desserts and Puddings
- Other Food and Beverage Processing
- Functional Foods and Dietary Supplements
- Foodservice/HoReCa (Hotels/Restaurants/Café)
- Others (e.g. Animal Feed Industry, etc.)
On the basis of the distribution channel, the coconut cream market is segmented into-
- Indirect Sales/B2C
- Hypermarkets/ Supermarkets
- Convenience Stores
- Mass Grocery Retailers
- Specialty Stores
Explore FMI’s Other Extensive Reports of Food & Beverage:
Dry Molasses Products Market Share : The market of dry molasses products in North America and Europe is already good due to the extensive food and beverages industry in these regions.
Beetroot Molasses Market Size : Over the next few years, the Asia-Pacific region is projected to be the fastest growing market for beetroot molasses. India is projected to grow with the highest CAGR in the beetroot molasses market by country, owing to the increasing standard of living.
Citrus Molasses Market Forecast : United States is one of key countries for citrus molasses market globally. FMI has projected that United States will to stay one of the supreme profitable markets over the course of the forecast period.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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