Blackstrap Molasses Market – Latest Research, Future Scope, Business Overview, Key Value, Demand and Forecast 2022-2032

 

The global blackstrap molasses market size was estimated to be worth around US$ 13 Billion in 2020 and is forecast to grow at a CAGR of around 5.68% between 2022 and 2032, surpassing US$ 18.2 Billion by 2027. Rising adoption of blackstrap molasses in a multitude of end use applications due to its various health benefits is a major force behind the expansion of the global blackstrap molasses market.

Blackstrap Molasses Market: Regional Analysis

The influence of western culture, changing lifestyle, increase in disposable income, etc. are some of the drivers for the increase in the demand for bakery products in the Asia-Pacific region. Thus, the rise in consumption of bakery products is expected to increase the demand for blackstrap molasses as it is used in the preparation of various bakery products and at the same time provides various health benefits. Thus, the blackstrap molasses market is estimated to grow at a high rate in the Asia-Pacific region.

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The Increase in Health-awareness Serve as a Driver for Blackstrap Molasses Market

Due to hectic lifestyle, increase in the number of working women, economic feasibility, etc. the demand for ready-to-eat products is increasing. The consumer preference for convenience is increasing, and thus, the demand for bakery products is increasing at a high rate all across the globe which is estimated to boost the blackstrap molasses market.

Blackstrap molasses is used while preparing a variety of bakery products such as muffins, cookies, bread, cakes, etc., and therefore, the increase in demand for bakery products is expected to have a positive impact on the blackstrap molasses market.

In recent years, health awareness is increasing among the consumers, and thus, prefer to use products that have high nutritional value. Therefore, the companies are trying to develop new innovative products that provide various health benefits. Thus, the use of blackstrap molasses serves as a suitable option as it is rich in vitamins, minerals, etc. and has a low glycemic index. The manufacturers of food and beverage industry can develop innovative and healthy products to attract health-conscious consumers.

The rise in awareness among consumers has increased the demand for dietary supplements, and is anticipated to serve as a driver for the blackstrap molasses market. Blackstrap molasses has antioxidant and anti-inflammatory properties which provide various health benefits. Blackstrap molasses is a rich source of iron that helps to maintain the hemoglobin level. It contains several minerals and vitamins that provide various health benefits.

Blackstrap Molasses Market: Key Participants

Some of the market participants in the Blackstrap Molasses market are:

  • ASR Group
  • Allied Old English, Inc.
  • Imperial Sugar Company
  • Crosby Molasses Co Ltd.
  • B&G Foods, Inc.
  • Sweet Harvest Foods Inc
  • Meridian Foods Limited
  • Zook Molasses Company

The research report presents a comprehensive assessment of the blackstrap molasses market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as product type, application, and end use.

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Blackstrap Molasses Market Segmentation 

The Blackstrap Molasses market can be segmented on the basis of nature, end use and distribution channel:

On the basis of nature, the Blackstrap Molasses market can be segmented as: 

  • Organic
  • Conventional

On the basis of end use, the Blackstrap Molasses market can be segmented as: 

  • Food and Beverage Processing
  • Bakery and Confectionery products
  • Breakfast solutions
  • Desserts and Puddings
  • Other Food and Beverage Processing
  • Functional Foods and Dietary Supplements
  • Foodservice/HoReCa (Hotels/Restaurants/Café)
  • Household
  • Others (e.g. Animal Feed Industry, etc.)

On the basis of the distribution channel, the coconut cream market is segmented into- 

  • Direct Sales/B2B
  • Indirect Sales/B2C
  • Hypermarkets/ Supermarkets
  • Convenience Stores
  • Mass Grocery Retailers
  • Specialty Stores
  • Online Retailing

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