The Molasses Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Molasses Global Market Report 2024, The molasses market size has grown strongly in recent years. It will grow from $14.23 billion in 2023 to $15.45 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to animal feed industry growth, alternative energy source, industrial fermentation, diversification in agriculture, molasses as a sweetener, microbial growth medium.
The molasses market size is expected to see strong growth in the next few years. It will grow to $19.42 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to bioplastics production, market demand for specialty sugars, global population growth, sustainable agriculture practices, expanded application in food and beverages. Major trends in the forecast period include animal feed formulations, organic and non-GMO molasses, bioethanol production, molasses in distillery and alcohol industries, advancements in fermentation technology.
The increasing import and export activities due to the growing applications of molasses globally are expected to propel the growth of the molasses market. Molasses is used in various industries such as food and beverage, healthcare, pharmaceutical, personal care products, animal feeds, and others. Due to several applications of molasses, there is a huge demand coming from around the world which is pushing the companies to get significantly involved in the import and export activities of molasses. In turn, this is driving more demand for molasses globally. For instance, in September 2023, according to the Observatory of Economic Complexity, a US-based online data visualization and dissemination tool focusing on economic activity location and dynamics, exports of molasses from the United States grew by $625k (38.4%) between September 2022 and September 2023, to $2.25M from $1.63M, while imports jumped by $5.04M (31%), from $16.3M to $21.3M. Therefore, the increasing import and export activities due to the growing applications of molasses globally are expected to propel the growth of the molasses market.
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The molasses market covered in this report is segmented –
1) By Type: Regular Molasses, Blackstrap Molasses
2) By Sources: Sugarcane, Sugar Beet
3) By Category: Organic, Conventional
4) By Application: Feed, Food And Beverage, Other Applications
Major companies operating in the molasses market are adopting a strategic partnership approach to enhance distribution networks, innovate product offerings, and expand market presence. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in January 2023, AFYREN SA, a France-based greentech company announced a partnership with Mitr Phol Group, a Thailand-based company that manufactures and processes molasses. This innovative collaboration with AFYREN is under Mitr Phol Group’s strategic vision for sustainable development, as it will allow Mitr Phol Group to reinforce the circular and sustainable approach to manufacturing operations through the development of environmentally friendly biobased products. AFYREN and Mitr Phol’s agreement would result in the establishment of the AFYREN Group’s second bio-based organic acid manufacturing plant. It is consistent with AFYREN’s build and operate development strategy, which tries to be as near to raw material sources and client markets as feasible, with a focus on Asia and North America.
The molasses market report table of contents includes:
- Executive Summary
- Molasses Market Characteristics
- Molasses Market Trends And Strategies
- Molasses Market – Macro Economic Scenario
- Global Molasses Market Size and Growth
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- Global Molasses Market Competitive Benchmarking
- Global Molasses Market Competitive Dashboard
- Key Mergers And Acquisitions In Molasses Market
- Molasses Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Archer Daniels Midland Company
- Louis Dreyfus Company
- Cosan S.A.
- ED&F Man Holdings Ltd.
- B&G Foods Inc.
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