The
growth of global molasses market is due to its high consumption in
animal feed industry and biofuel industry. The major production
source of molasses is sugarcane and regions such as APAC and Latin
America provides the most favorable environment for the sugarcane
production and so it directly influences the molasses market. The
molasses is produced as a by-product in sugar production and so
regions producing large quantity of sugar serves as major molasses
producing regions.
The
revenue generated from molasses market is estimated to be valued at
roughly US$ 12,106.3 Mn by the end of 2017 and is expected to
increase at a CAGR of 5.3% over the forecast period. Global molasses
market are expected to be valued at approximately US$ 18,281.7 Mn by
the end of 2025.
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Industrial
Use Segment Boasts Clear Dominance in Global Market based on End Use
The
global molasses market can be segmented on the basis of source, type,
nature, end-use, and distribution. By source, the molasses market is
segmented into sugarcane and sugarbeet. The sugarcane segment acts as
the major source for obtaining molasses, with an accounted market
share of 88.1% in 2016, in terms of volume. On the basis of type, the
molasses market can be segmented into regular molasses, blackstrap
molasses, and others. The blackstrap molasses segment serves as the
dominant segment with an anticipated market share of 55.3%, over the
forecast period. By nature, the molasses market is segmented into
conventional & organic. Though the conventional segment possesses
an anticipated market share of 81.2% by 2025 end but the organic
segment is likely to have a relatively higher CAGR of 6.2% over the
forecast period due to consumer awareness of consuming the organic
food.
By
end-use, the global
molasses market can be segmented into industrial uses,
commercial uses and household uses. The industrial segment can be
further segmented into food and beverage industry, animal feed
industry, biofuel industry, and other industrial applications. The
industrial end-use segment is estimated to account for a significant
revenue share of 76.9% in 2017 and is expected to register high
growth rate during the forecast period. Furthermore, on the basis of
sales channel, the molasses market is segmented into direct and
indirect sales. The indirect sales segment can be further segmented
into modern trade, convenience stores, online stores, and others.
Amongst these segments, the direct sales segment is anticipated to
occupy the largest market share of 87.2% over the forecast period, in
terms of volume.
Holding
Majority Share, Asia Pacific Emerged Dominant in Overall Market
On
the basis of region, the market in APAC and Latin America is expected
to dominate over the forecast period followed by Europe. In current
era also, APAC dominates the global molasses market with an
anticipated share of 42.7% over the forecast period in the global
market share. The rising demand for molasses as a thickening agent,
especially in bakeries and confectionaries has emerged as the chief
driver of the global molasses market. Favorable policies by
government and industrialization witnessed across emerging nations,
will enable the molasses market prosper in Asia Pacific in the coming
years.
The
major key players in the global molasses market includes Michigan
Sugar Company, B&G Foods, Inc., Crosby Molasses Co Ltd.,
Spreckels Sugar Company, Inc., Cora Texas Manufacturing Company, LLC,
Malt Products Corporation, Westway Feed Products LLC, Good Food Inc.,
Sweet Harvest Foods Inc., Domino Specialty Ingredients.
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