According to the latest report by IMARC Group, titled “Blackstrap Molasses Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global blackstrap molasses market reached a value of US$ 11.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 16.3 Billion by 2027, exhibiting a CAGR of 5.6% during 2022-2027.
Blackstrap molasses is a dark liquid with a slightly bitter and sweet taste and thick consistency. It is generally obtained upon boiling sugarcane or sugar beets syrup multiple times. It is widely consumed as a preferred alternative to refined sugar since it constitutes a lower glycemic index than conventional sweeteners. Along with this, it is also rich in various essential nutrients, including magnesium, iron, calcium, and potassium.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The global market is primarily driven by significant growth in the food and beverages sector. Along with this, the shifting dietary patterns of the masses and the rising health-consciousness among individuals are providing a boost to the market growth across the globe. Moreover, the increasing prevalence of chronic illnesses, such as obesity and diabetes, has encouraged the masses to substitute refined sugars with blackstrap molasses, thereby creating a positive outlook for the market. Some of the other factors contributing to the market growth include inflating disposable income levels of individuals and extensive research and development (R&D) activities conducted by key players to introduce improved product variants in the market.
Breakup by Form:
Breakup by Product:
Breakup by Distribution Channel:
Breakup by Application:
- Industrial Fermentation
- Food and Beverages
- Animal Feed
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- 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)
- Zook Molasses Company.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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