Blackstrap Molasses Market

Global Blackstrap Molasses Market Size (2024 To 2032)

The size of the global blackstrap molasses market is expected to be worth USD 14.30 billion in 2024 and grow at a CAGR of 5.70% from 2024 to 2032 to achieve USD 22.28 billion by 2032.

Blackstrap molasses, a by-product of the manufacture of raw sugar from sugarcane, generally contains less than 55% total sugar, more than 1% protein, and 80-86% total solids. Blackstrap molasses is gaining popularity in industrial fermentation because it produces raw alcohol. It was used primarily in the production of alcohol through an ethanol fermentation process. Ethanol fermentation is also called alcohol fermentation, which produces raw alcohol and then distributes it to companies producing consumable alcohol. Blackstrap molasses has seen significant growth due to its versatile application in a variety of industries such as cosmetics, food and beverage, skin care, fertilizer, and animal feed. For example, in the food and beverage industry, blackstrap molasses is used as a sweetener in bakery products and as a colorant in the food service industry. Black strap molasses in cane form is composed of approximately 55% sucrose and other sugars, 20% water, 15% organic non-sugar, and 10% ash. Blackstrap molasses also acts as a natural coloring in food. It is a rich source of trace elements, enzymes and vitamins. Blackstrap molasses also contains significant amounts of minerals such as calcium, iron, potassium, manganese, and magnesium. It can be added to smoothies and smoothies. It is also used to prepare baked goods such as muffins, cookies, gingerbread, baked beans, etc. Blackstrap molasses is applied in a variety of industries, including food and dietary supplements. Increasing sugarcane production is expected to drive the Blackstrap molasses product market growth during the forecast period.

MARKET DRIVERS

The increasing use of Blackstrap molasses in food and beverages and the rising popularity among consumers for its benefits is expected to drive the growth of the Blackstrap molasses market during the foreseen period.

There is a growing awareness of health among consumers, favoring products with high nutritional value. Therefore, the company is trying to develop innovative new products that offer a variety of health benefits. Manufacturers in the food and beverage industry can develop innovative and healthy products to attract health-conscious consumers. There is a growing demand for molasses in the bakery sector, as costs are lower compared to sugar, production of alcoholic beverages increases, and changes in people's food and lifestyle preferences drive growth of the global market for Blackstrap molasses. On the other hand, the increase in its use as a sweetener and coloring in the food and beverage industry opens new opportunities in the coming years. The demand for ready-to-eat products is increasing with a busy lifestyle, a larger economy, and a surge in working women. Consumer preference for convenience is increasing, and as a result, demand for baked goods is increasing at a high rate worldwide, which is expected to revitalize the global Blackstrap molasses market. It is used to prepare a variety of bakery products such as cookies, breads, muffins and cakes, so the growing demand for bakery products is likely to have a positive impact on the Blackstrap molasses market. Blackstrap molasses is a rich source of iron that helps maintain hemoglobin levels. It contains several minerals and vitamins that provide a variety of health benefits. Additionally, consumers' preference for plant-based and organic dietary supplements is increasing, making Black Strap Molasses a suitable choice as a dietary supplement. Growing consumer awareness has led to an increase in demand for dietary supplements and is supposed to be the driving force behind the global Blackstrap molasses market size. Blackstrap molasses has antioxidant and anti-inflammatory properties that provide a variety of health benefits.

MARKET RESTRAINTS

Despite the enormous benefits of Blackstrap molasses, consuming this has been found to cause some type of allergic reaction, limiting market growth. It is believed to be a good alternative to refined sugar and artificial sweeteners for diabetics, but some people have observed elevated blood sugar levels after taking it. It is safe due to its low glycemic index, but within a limited amount. The lack of awareness about the use of Blackstrap molasses has a major impact on the growth of the worldwide market during the outlook period.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Blackstrap Molasses Market Analysis By shape

liquid black molasses is formed directly, producing sugar in its basic form. The Blackstrap liquid molasses segment accounted for approximately 1/3 of the global market share in 2019 and this trend is estimated to continue throughout the foreseen period. This is primarily due to the benefits associated with liquid black molasses as it is more convenient to use in the ethanol fermentation and animal feed industries.

Global Blackstrap Molasses Market Analysis By Application

The animal feed sector is likely to grow to $ 2,262.5 million by 2025, reaching a CAGR of 9.2%. Blackstrap molasses is widely used in animal feed because of its rich source of vitamins and minerals such as calcium, magnesium and selenium.

Global Blackstrap Molasses Market Analysis By Distribution Channel

The online segment was valued at $ 4.69 trillion in 2019 and is determined to reach $ 706.6 million in 2025, with an average annual growth rate of 6.5%. The advent of the Internet of things at a commercial level, increasing globalization and the trend of shopping on online platforms add to the expansion of the product market. Online sales platforms like Amazon have been of great help to the growth of the blackstrap molasses market, as they are widely used for home use.

REGIONAL ANALYSIS

Asia Pacific dominated the global Blackstrap molasses market demand in 2019, the main factor driving the growth of the market in this region is the mass production of sugar from sugar cane. This is mainly due to favorable environmental conditions, large agricultural areas, and government support for cane sugar production. The impact of changes in lifestyle, Western culture, and increased disposable income are some of the reasons for the growing demand for bakery products in the Asia Pacific region. Therefore, increased consumption of bakery products is expected to increase demand for Blackstrap molasses as it is used in the manufacture of a variety of bakery products while providing a variety of health benefits. Therefore, the black molasses business is expected to grow at a high rate in Asia Pacific.

North America is supposed to have the highest CAGR of 8.6% during the foreseen period. This is legitimate for the bakery and confectionery sector in the US region, and the adoption of plant-based ingredients in food and beverages is increasing rapidly. This is due to increased purchasing power, changes in people's lifestyle and eating habits, high demand in the bakery sector, and the rise of fast-food chains. Brazil is the largest sugar cane producer in South America. Because black belt is a by-product of sugar production, Brazil produces a large quantity of Blackstrap molasses and accounts for 30% of the worldwide market. Brazil has played a pioneering role in the implementation of a competitive bioethanol industry. Increased sugar production in Brazil is estimated to drive growth in the worldwide Blackstrap molasses market during the envisioned period.

Key Players in the Global Blackstrap Molasses Market

Major key players in the global blackstrap molasses market are Crosby's Molasses, Allied Old English, Inc, Meridian Foods Limited, B&G Foods, Inc, Domino Specialty Ingredients, ED&F Man Liquid Products UK Ltd, Zook Molasses Company, Pestell Minerals and Ingredients Inc, Malt Products Corporation, Buffalo Molasses and Others.

DETAILED SEGMENTATION OF THE GLOBAL BLACKSTRAP MOLASSES MARKET INCLUDED IN THIS REPORT

This research report on the global blackstrap molasses market has been segmented and sub-segmented based on form, application, distribution channel and region.

By Form

• Powder
• Liquid

By Application

• Food & Beverages
• Industrial Fermentation
• Animal Feed
• Pharmaceutical
• Other

By Distribution Channel

• Offline
• Online

By Region

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