Global Blackstrap Molasses Market Report and Forecast 2023-2028

Global Blackstrap Molasses Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global blackstrap molasses market attained a value of USD 10958.2 million in 2022. Aided by the rising demand for natural sweeteners and increasing health consciousness among consumers, the market is projected to further grow at a CAGR of 2.7% between 2023 and 2028 to reach a value of USD 12992.81 million by 2028.

Blackstrap molasses is a viscous, dark-coloured liquid obtained as a by-product during the sugar-making process. It is derived from the third boiling of sugar cane or sugar beet juice, resulting in a highly concentrated and nutrient-rich syrup. Essential vitamins and minerals like iron, calcium, magnesium, and potassium are abundant in blackstrap molasses. It is frequently utilised in a variety of food and beverage goods as a natural sweetener as well as a nutritional supplement to improve general health and wellbeing.

One of the key factors driving the global blackstrap molasses market growth is the increasing demand for natural sweeteners. Blackstrap molasses, being a natural sweetener with a low glycaemic index, is gaining popularity as a healthier alternative to sugar, especially among diabetic and weight-conscious consumers. Another significant factor contributing to the blackstrap molasses market expansion is its diverse applications across various industries, such as food and beverages, pharmaceuticals, and animal feed. Blackstrap molasses is a sweetener used in the food and beverage industry that is added to baked goods, sauces, and beverages. It is also utilised in the pharmaceutical industry as a natural source of essential nutrients, such as iron and calcium, in the formulation of dietary supplements and health tonics.

Furthermore, the growing awareness of the health benefits associated with blackstrap molasses is also driving the blackstrap molasses market growth. Blackstrap molasses is known for its potential health benefits, including improving bone health, maintaining healthy blood sugar levels, and promoting digestive health. This has led to an increased demand for blackstrap molasses as a functional ingredient in health foods and dietary supplements, further propelling the blackstrap molasses market development.

Market Segmentation

The market can be divided based on form, application, distribution channel, and region.

Market Breakup by Form

• Liquid
• Powder

Market Breakup by Application

• Industrial Fermentation
• Food and Beverages
• Pharmaceutical
• Animal Feed
• Others

Market Breakup by Distribution Channel

• Offline
• Online

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global blackstrap molasses companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Allied Old English, Inc.
• Crosby Molasses Co Ltd.
• B&G Foods, Inc.
• Mahajan Molasses Company
• Domino Comercio, SA de CV
• Good Food, Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.