NEWARK, Del, June 14, 2023 (GLOBE NEWSWIRE) -- The cane molasses market is anticipated to expand its roots at an average CAGR of 4.5% between 2023 and 2033. The market is expected to have a market share of US$ 5.3 billion by 2033, while it is likely to be valued at US$ 3.4 billion in 2023.
- With the extended range of applications from the food and beverages sector to the dairy and meat industry, cane molasses is helpful across the verticals. Furthermore, the higher nutritional structure of molasses is also making it popular among the health-conscious population.
- The growing awareness and expanding packaged product sector are anticipated to flourish the overall market growth. Alongside this, the increasing popularity of blackstrap molasses is contributing to the market growth.
- Better diabetes management, vital mineral potassium, and other elements are helping the cane molasses prevent hypokalemia and high blood pressure.
- The influencers promoting health-based trends and making people aware of cane molasses’ health benefits are flourishing the market growth. Though, the drawbacks for the market, such as some side effects, including diarrhea, cancer, and irritable bowel syndrome, are limiting the market growth.
- The expanding online shopping and penetration of e-commerce websites are flourishing the market growth. Furthermore, the higher acceptance of molasses in developing nations is garnering market growth.
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Key Pointers from this market:
- The United States market leads the cane molasses market in terms of market share in North America. The United States region held a significant market in 2022. The growth in this region is attributed to the growing awareness around sugar alternatives; increased demand through the industrial segment is also garnering market growth.
- The German market is another important market in the European region. The market held an essential share in 2022. The growth is attributed to the growing health-conscious population and the restored food and beverages sector.
- The India cane molasses market thrives at a robust CAGR during the forecast period. The growth is attributed to sustainability goals, higher production of ethanol, and a substantial diabetic population.
- The China market has a significant share of the market. The growth is caused by increased industrial expansion.
- Based on product type, the conventional segment leads the market as it holds a significant share in 2023.
- Based on the application, the industrial segment leads the market as it held a market share in 2022.
Competitive Landscape:
The key vendors focus on improving the effectiveness of molasses while producing application-specific products. The player also delivers different types of molasses. Key competitors merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
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Recent Market Developments:
- Cora Texas Manufacturing Company LLC has introduced blackstrap molasses that helps patients with different health conditions, such as anaemia and constipation. The industrial applications of this cane molasses grade are also in high demand.
- Sweet Harvest Foods Inc. has launched cane molasses with branded and private label capabilities. The product also has OU kosher certification.
Key Players are:
- Cora Texas Manufacturing Company LLC
- Sweet Harvest Foods Inc.
- Meridian Foods
- Michigan Sugar Company
- Malt Products
- The Archer Daniels Midland Company
- Premier Molasses
- B&G Foods Inc.
- Westway Feed Products LLC
- Buffalo Molasses.
Key Segments Covered are:
By Type:
- Organic Molasses
- Conventional Molasses
By Application:
- Household
- Food & Beverages
- Industrial
- Animal Feed
- Others
By Regions Covered:
- North America
- United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- The Middle East and Africa (MEA)
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Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (MT) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (MT) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Type, 2023 to 2033
5.3.1. Organic Molasses
5.3.2. Conventional Molasses
5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033
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Explore FMI’s Extensive Coverage in Food & Beverage Domain:
Molasses Market Analysis: The market share of molasses is predicted to grow from US$ 11952.75 Million in 2023 to over US$ 23512.86 Million by 2033.
Citrus Molasses Market Share: In 2022, the global citrus molasses market was estimated to have acquired US$ 687.2 million. Changing consumer preferences towards healthy and organic products is likely to aid the sales to US$ 1507.06 million by 2033, garnering a CAGR of 7.4% during the forecast period, 2023 to 2033.
Beetroot Molasses Market Size: According to a study by Future Market Insights, the market for Beetroot Molasses is estimated to grow at a CAGR of 5.3% during the forecasted period. The value of the industry is expected to rise from US$ 921.7 million in 2023 to US$ 1,544.7 million in 2033.
Sugar Substitutes Market Growth: The global sugar substitute market size is valued at US$ 18.3 Billion in 2022 and it is expected to grow at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2032.
Sugar-based Excipients Market Demand: In 2023, the global sugar-based excipients market is expected to hit US$ 1068.41 million, expanding at a CAGR of 4.8%. By 2033, the market was estimated at US$ 1707.46 million.
Sugar Confectionery Market Forecast: The global sugar confectionery market is expected to be valued at US$ 53.21 billion in 2023 and is expected to reach US$ 81.07 billion by 2033, registering a CAGR of 4.3% from 2023 to 2033.
Caramelized Sugars Market Value: Global demand for Caramelized Sugars is expected to reach a market valuation of US$ 2 Billion by the end of the year 2023, accelerating at a CAGR of 4% over the forecast period (2023 to 2033).
Cane Sugar Market Opportunity: The global cane sugar market is expected to reach a market valuation of US$ 53.6 Billion by the year 2022, accelerating with a CAGR of 4.6% by 2022 to 2032.
Refined Cane Sugar Market Sale: The refined cane sugar market size is estimated to be worth US$ 62.24 billion in 2023 and is projected to surpass US$ 108.34 billion by 2033.
Icing Sugar Market Trend: The global sales of icing sugar are projected to rise at a robust CAGR of around 6.78% between 2022 and 2032, generating significant revenues by the end of the forecast period.
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