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Global Blackstrap Molasses Market to Grow at a CAGR of 5.70% During 2021-2026, Aided by the Increasing Applications in Various Industries

According to a new report by EMR titled, ‘Global Blackstrap Molasses Market Report and Forecast 2021-2026’, the market attained a value of about USD 12.97 billion in 2020. The industry is further expected to grow at a CAGR of 5.70% in the forecast period of 2021-2026 to reach a value of USD 17.33 billion by 2026.

Blackstrap molasses is growing in use in industrial fermentation because of its potential to synthesise raw alcohol. During the projected period, rising cane sugar output is projected to boost the product market's growth. The COVID-19 epidemic has had a detrimental impact on the blackstrap molasses market. Due to a scarcity of employees, worldwide translocation, and the closure of cane sugar plants, production has decreased significantly. Thus, the pandemic induced lockdowns and introduction of the curfew hampered the market growth. In addition, poor circumstances and a lack of government assistance for farmers in key cane sugar producing nations are significant market limitations.

Because of its numerous uses in industries such as food and beverage, cosmetics, fertilisers, skin care, and animal feed, blackstrap molasses has seen tremendous expansion. They are employed as a sweetening agent in baking goods and as a colouring agent in food services sectors. The market is anticipated to increase due to the increasing usage of blackstrap molasses in food and drinks, as well as public awareness of its advantages. Because it is utilised in the manufacture of numerous bakery goods and has different health advantages, demand is projected to rise as consumer demand for bakery items rises.

B&G Foods Inc. (NYSE: BGS) is an American multinational company that specialises in processed foods, spices, and condiments. The company is a major player in the blackstrap molasses market and has acquired the brand “Crisco” in December 2020. This is expected to enhance its market share as well as its inventory due to the acquisition of a newer manufacturing facility and warehouse.

Market Analysis by Form, Application, Distribution Channel, and Region:

  • The market on the basis of form can be divided into powder and liquid.
  • Based on application, the industry can be divided into industrial fermentation, food and beverages, pharmaceutical, and animal feed, among others.
  • The major distribution channels for blackstrap molasses include offline and online.
  • The regional markets for blackstrap molasses include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Because of its numerous uses in industries such as food and beverages, pharmaceutical, and animal feed, blackstrap molasses has seen tremendous expansion.
  • The market is anticipated to increase due to the increasing usage of blackstrap molasses in food and drinks, as well as public awareness of its advantages.
  • The rising cane sugar output is projected to boost the market growth of blackstrap molasses.
  • Because it is utilised in the manufacture of numerous bakery goods and has different health advantages, demand is projected to rise as consumer demand for bakery items rises.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for blackstrap molasses for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the forms, applications, distribution channels, and regions of blackstrap molasses.
  • It assesses the regional price trends for the (2016-2020) and (2021-2026) periods. 
  • The market report also analyses the trade data by covering the major importing and exporting countries.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global blackstrap molasses market are Allied Old English, Inc., Crossby Molasses, Co. Ltd., and B&G Foods, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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