Molasses Market - By Type (Blackstrap Molasses, Dark or medium Molasses, Light Molasses, Powdered Molasses, Golden syrup, Treacle) By Category (Organic, Conventional) By Source & Global Forecast, 2023-2032

Molasses Market - By Type (Blackstrap Molasses, Dark or medium Molasses, Light Molasses, Powdered Molasses, Golden syrup, Treacle) By Category (Organic, Conventional) By Source & Global Forecast, 2023-2032

Molasses market size is projected to expand at over 2.7% CAGR from 2023 to 2032, due to extensive application in animal feed as cost-effective energy sources and nutrient-rich supplements. Molasses finds usage in the production of alcoholic beverages, leading to their higher demand in the beverage sector. The growing awareness of the nutritional benefits of molasses will further compliment the industry growth.

The expanding popularity of natural sweeteners coupled with rich flavor profile is also increasing the use of molasses in the food domain. Moreover, higher utilization in the manufacturing of bioethanol and the surging popularity of molasses as soil conditioners in agriculture is driving product innovations, further enhancing the market growth. For instance, in May 2021, International Molasses introduced CaneRite panela, a natural, free-flowing powder sweetener derived from the juice extracted from entire sugar cane plant.

The market in segregated into type, application, category, source, and region.

Based on type, the powdered molasses market is estimated to accumulate sizeable revenue share and strike 3.5% CAGR through 2032. The increasing convenience and extended shelf life of powdered molasses is making it a preferred choice for various applications. In addition, the versatility offered in food and beverage processing along with the rising trend of convenient and sustainable ingredients will fuel the product adoption.

Molasses industry size from the animal feed application segment is projected to record 2.7% CAGR from 2023 to2032. The growth is due to the rising consideration of molasses as a cost-effective and nutrient-rich ingredient for animal feed. Molasses enhance the palatability of feed by acting as supplementary energy source. The optimum utilization of molasses in animal feed will also continue to increase with the growing demand for high quality animal nutrition.

Regionally, the Europe molasses market is slated to expand at 2.5% CAGR during 2023-2032, due to the high demand for natural sweeteners in the food and beverage sector. The versatile applications of molasses, including usage in animal feed and industrial processes are driving its popularity in the region. Additionally, the rising awareness of the nutritional benefits of molasses will fuel its adoption in diverse sectors across the region.