Global
Molasses Market: Overview
Molasses
is a by-product of refining sugarcane or sugar beets, and is a heavy
viscous dark brown liquid consisting mainly of sucrose, water,
reducing sugars (glucose and fructose) ashes and other organic
compounds. Basically, molasses contains a portion of sugar that could
not crystalized into white sugar. Their quality of molasses varies
directly on quantity of sugar, method of extraction and age the
plant. Molasses finds wide application in various industries such as
baking, food manufacturing, animal and poultry feed and
pharmaceuticals. Moreover, it is also used as prime product for the
manufacturing of yeast for fermentation process. The global
molasses market consists primarily of prominent players in
the sugar industry, with most of them concentrated specifically in
Brazil, India and Thailand. The Global Molasses Market is expected to
expand with an impressive CAGR over the forecast period.
Global
Molasses Market: Drivers and Restraints
The
prime factor fuelling revenues in the global molasses market is the
increasing demand from industrial and food and beverage applications.
Increasing production of food grade alcohol, particularly due to
rising preference for the same from Middle Easter and European
countries is a prominent factor driving demand for molasses.
Furthermore, increasing demand for cleaner fuel is significantly
driving the rising demand for molasses used for production of
bio-ethanol. In recent years, paints, varnish and cosmetic industry
is also showing high inclination towards molasses produced ethanol.
The rapidly growing pharmaceutical industry is also inherently
driving increasing demand for molasses. Increasing demand for
molasses based ethanol for blending purpose in refines, amid bullish
oil and gas downstream sector is another factor fuelling demand for
molasses globally. Apart from these, Governments of various
developing countries also offer subsidized loans for sugar companies
to set up ethanol production unit, thus pushing more players to
increase their focus on molasses production.
Global
Molasses Market: Segmentation
On
the basis of type, Global Molasses Market is segmented into:-
- Cane Molasses
- Sugar Beet Molasses
- Others
On
the basis of end use, Global Molasses Market is segmented into:-
Food
and Beverages
- Alcoholic
- Non-Alcoholic
Chemical
and Industrial
- Fermentation
- Fertilizers
- Agglomeration
- Bioenergy
- Bio remediation
Horticulture
Others
Global
Molasses Market: Region wise Outlook
The
global
Molasses Market is
divided into seven regions, namely North America, Latin America, Asia
Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan
and Middle East and Africa (MEA). Asia Pacific Exc. Japan not just
account for a prominent share of molasses production but also
accounts for a significant demand for molasses, particularly for the
industrial applications. Increasing demand from China and South East
Asian countries is primarily attracting demand for molasses in the
region. Western Europe and North America also accounts for a decent
share of global consumption of molasses, followed by Middle East and
African region, where the product is mostly used for Food
applications. Latin America is also expected to be a prominent
consumer of molasses, and a major of share of demand in the region is
anticipated to be satisfied by Brazil bases manufacturers. Japan
accounts for a slightly lower share of direct molasses consumption,
however the region is anticipated to show a slight increase in growth
rate for the demand for molasses over the forecast period.
Global
Molasses Market: Key Players
Some
of the key players identified in the global Molasses Market includes:
- Crosby Molasses Co. Ltd.
- Spreckels Sugar Company
- Afrinol Limited
- Cora Texas Manufacturing Co.
- KK Birla Group of Sugar Companies
- Chemelil Sugar Company
- Imperial Sugar Company
- Zook Molasses Co
- Balampur Chini Mills Ltd.
- Bajaj Hindusthan Limited
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