Blackstrap Molasses Market 2022: Size, Share, Trends, Opportunities and Forecast 2027
According to the latest report by IMARC Group, titled “Blackstrap Molasses Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the blackstrap molasses market. The global blackstrap molasses market reached a value of US$ 11.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 16.3 Billion by 2027, exhibiting a CAGR of 5.6% during 2022-2027.
Blackstrap molasses represents a sweetener that is obtained from the processing of raw sugar beets, sugarcane, pomegranate, dates, carob, sorghum, etc. It contains a high amount of calcium, potassium, selenium, magnesium, niacin, etc., and is low in calories as compared to regular molasses. It assists in relieving menstrual cramps, preventing blood clotting, maintaining the health of uterine muscles, relieving premenstrual syndrome (PMS) symptoms, etc. Blackstrap molasses aids in controlling mood, combatting stress and anxiety, preventing pain, depression, and fatigue, etc. Presently, it is utilized in the food and beverage (F&B) industry to offer moisture and tenderness to baked goods and increase their shelf life.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The widespread adoption of ready-to-eat (RTE) items, owing to hectic lifestyles, the inflating levels of disposable income, and the growing consumer health consciousness, is primarily driving the blackstrap molasses market. Additionally, the rising prevalence of diabetes and cancer and the expanding geriatric population are further catalyzing the market growth. Besides this, the widespread adoption of blackstrap molasses as a spread or topping on toast, oatmeal, porridges, etc., and in the preparation of marinades, barbeque sauces, glazes, etc., is acting as another significant growth-inducing factor. Moreover, it lowers the acidic taste, intensifies richness, enhances the nutritional value of the coffee, etc., and contains a high level of chromium and has a low glycemic index which increases glucose tolerance and naturally slows the metabolism of carbohydrates, thereby resulting in less insulin production. Apart from this, the introduction of natural-based sweeteners is anticipated to fuel the blackstrap molasses market over the forecasted period.
Breakup by Form:
Liquid
Powder
Breakup by Product:
Organic
Conventional
Breakup by Distribution Channel:
Offline
Online
Breakup by Application:
Industrial Fermentation
Food and Beverages
Pharmaceutical
Animal Feed
Others
Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Allied Old English Inc.
B&G Foods Inc.
Buffalo Molasses LLC
Crosby Molasses Co Ltd.
Domino Speciality Ingredients (American Sugar Refining Inc.)
E D & F Man Holdings Limited
Louis Dreyfus Company B.V. (Louis Dreyfus Holding B.V.)
Malt Products Corporation
Sweet Harvest Foods (Natural American Foods Inc)
Zook Molasses Company.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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