Molasses is a viscous product obtained from refining sugarcane or sugar beets into sugar. Molasses varies by the amount of sugar, method of extraction, and age of the plant. Molasses is primarily used for sweetening and flavoring foods. The global molasses market is projected to grow at a modest CAGR of 5.0% during the forecast period (2021-2027). The major aspect that drives the growth of the market includes the demand for molasses from the food products & additives industries across the globe. Molasses is also used for various industrial purposes such as a minor component of mortar for brickwork, and molasses is mixed with gelatin glue and glycerin when casting composition ink rollers on early printing presses. It is also used in the horticultural, as a soil additive to promote microbial activity. Hence, such uses of molasses in such industries are likely to propel the growth of the market. 

The demand for molasses in the food products & additives industry is on the surge as it offers many health benefits, acts as a natural sweetener, contains high nutritional contents, and other vital elements such as vitamin B6, magnesium, calcium, iron, and selenium which are necessary for the human body. Hence, this is also likely to contribute to the growth of the market over the forecast period. Furthermore, there has also been some use of molasses witnessed in the papermaking Molasses contains sucrose, which cannot be recovered by economic methods. Hence, this is likely to create substantial growth opportunities for the market over the forecast period.

Segmental Outlook

The global Molasses market is segmented on the basis of category, sources, and applications. Based on the category, the global molasses market is segmented as organic and conventional. Based on the sources, the global molasses market is segmented as sugarcane and sugar beet. Whereas, based on the applications, the global molasses market is segmented as food products & additives, industrial, and horticulture. 

Food Products & Additives Segment to Hold a Substantial Share in the Market

Amongst the application segment of the global molasses market, the food products & additive segment is projected to hold the most lucrative share in the global molasses market. The segmental growth of the market is accredited to the increased demand for molasses in food products and increased use of it as food additives. Molasses contains a high proportion of iron, up to a range of 11.3–20 mg/100 g. Some of the constituents of molasses are known to have enhancing or inhibitory effects on iron absorption. Besides, there has also been various use of sugarcane products for the treatment of various diseases. Molasses acts as a natural sweetening agent and is used across food industries in bakery & confectionery products, various beverages, and others. Hence, such a wide usage of molasses across the food industry is likely to drive the growth of the market over the forecast period.

Global Molasses Market, by Applications 2020 (%)

Regional Outlook

The global Molasses market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The European region is projected to hold a significant market share. The UK, Germany, France, Italy, Spain, and the Rest of Europe are the major economies primarily contributing to the growth of the molasses market in the region. The regional growth of the market is accredited to the increased production of sugar and pulp from cane sugar and sugar beet. Whereas, the Asia-Pacific region is also likely to witness substantial growth, as there is an increased production of sugarcane in the key economies of the region such as India and China. Hence, such aforementioned factors are likely to contribute to the growth of the market over the forecast period.

Global Molasses Market, by Region 2020 (%)

Market Players Outlook

The prominent players functioning in the global Molasses market include AMORETTI, B&G Foods, Inc., E D & F Man Holdings Ltd., Michigan Sugar Co., Molasses Feed Ltd., Good Food Inc., Malt Products Corp., The Archer Daniels Midland Co., and Westway Feed Products LLC among others. These key manufacturers are adopting various strategies such as new product launches and approvals, mergers and acquisitions, partnerships and collaborations, and many others in order to thrive in a competitive environment. 

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global Molasses market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.