Molasses Market 2019: Industry Review, Research, Statistics and Growth to 2023
Molasses is a viscous bi-product obtained from refining sugarcane and sugar beets into sugar. Sugarcane and sugar beets molasses has a thicker texture. Molasses is produced on a large scale in Thailand, India, Brazil, Taiwan, the United States and Philippines, as the sugarcane cultivation rate is high in these countries. Molasses is used for healing burns, treating constipation, alleviating blood pressure, and reducing fat accumulation in the human body. Thus, considering these factors, molasses market is expected witness high growth in forecast period.
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Some of the key players in the global molasses market are Michigan Sugar Company (US), B&G Foods, Inc.(US), Crosby Molasses Co Ltd. (Canada), The Archer Daniels Midland Company (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).
The global molasses market has been segmented based on type, category, source, application, and region.
The global molasses market has been segmented based on region, into North America, Europe, Asia-Pacific, Rest of the World.
Asia-Pacific is expected to dominate the global molasses market owing to the large production of molasses in the region. Countries such as India, Thailand, Philippines and Indonesia are among the largest producers of molasses in the region.
Blackstrap molasses is being used in various applications such as food, alcoholic beverages, animal feed, and others due to the health benefits offered by the blackstrap molasses syrup. This is a crucial determinant that is catalyzing the growth of blackstrap segment in the global molasses market. The same segment is expected to grow with the highest growth rate owing to the growth of end-use industries in which molasses is used.
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December 2018 Market Research Future has published a half-cooked research report on the global molasses market.
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