Biofuel prices are directly linked to rapidly increasing cost of feed crops, food grains, vegetable oils, and oilseed. As a result, biofuel producers are looking for cost-effective additives to help lower the cost of biofuels. Maximum share of biofuels produced around the world come from feed stocks that could be used to make food or from land that could be used to grow food.
Previously, citrus molasses were by-products of the citrus industry. Citrus molasses obtained from the processing were discarded as waste. However, as a result of increased research and technical advancements, citrus molasses are now recognized as essential ingredients in animal feed.
Future Market Insights (FMI) has forecast that citrus molasses will become co-products which are developed along with other citrus products either by the same company, or are sold to other companies on a large scale for the production of animal feed or biofuel. The rising use in pulp production will however remain chief growth driver.
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Key Takeaways from Citrus Molasses Market
- Citrus molasses market is expected to surpasses US$ 527 Mn in 2021
- The U.S. has emerged as a key market, representing over 72% sales registered in North America
- Brazil is expected to spearhead growth in Latin America
- The demand from the U.K. will continue rising at an impressive pace, enabling the U.K. market register above 6% y-o-y growth in 2021
- The demand from Germany and France is expected to surge, placing Europe as one of the key regional markets
- Rising demand for animal feed will continue supporting growth in China and Japan
“Manufacturers operating in the citrus molasses market follow a self-sustainable model where the waste from the fruit processing is being used up by their own subsidiaries which saves the production costs and provides extra income. This is due to a series of acquisitions carried out by the companies to make use of all the aspects of the fruit processing without wasting anything.” said a lead analyst at FMI.
Strong Distribution Network of Leading Manufacturers
Manufacturers of citrus molasses are expanding into developing countries to expand their customer base. They’ll need a strong network of distributors and suppliers to accomplish this. These companies are also expanding their distribution networks. However, this is mostly done by the industry’s leading producers. The distributor with whom they have a relationship handles all aspects of distribution. Either the company partners with a single distributor that is in charge of selling the goods across all continents, or the company goes it alone. Alternatively, the company can form partnerships with various distributors in various regions which will ensure the smooth accessibility of the product to customers.
Who is winning?
Manufacturers from various end use industries preferring citrus molasses owing to its low processing cost and citrus molasses are produced in huge quantities and thus they are easily available in the market. This is a key factor helping the market gain traction from end users.
Some of the key manufactures Lemon Concentrate S.L., Louis Dreyfrus Company B.V., Citrusuco S.A., Citromax Group, Sucocitrico Cutrale Ltd., Yantai North Andre Juice Co. Ltd, Vita-Pakt Citrus Products, Peace River Citrus Products, Rio Grande Juice Company.
The rising livestock population is also expected to increase the demand for feed as well. But due to the rising concern among the consumers about eating healthy, the demand for immunity increasing and natural ingredients in the animal feed has increased. This is expected to increase the demand for citrus molasses in the animal feed industry.
Get Valuable Insights into Citrus Molasses Market
Future Market Insights, in its new report, presents an unbiased analysis of the global citrus molasses market, covering historical demand data and forecast figures for the period between 2021 and 2031. The study reveals persuasive insights into growth witnessed into the market. Based on nature, the market is segmented into organic and conventional. On the basis of application, the market can be segmented into animal feed, pulp production and biofuel. Based on sales channel, the market can be segmented into direct sales/B2B and indirect sales/B2C. Regionally, the market study covers North America, Latin America, Europe, APEJ, Japan and Middle East & Africa (MEA).