The market for blackstrap molasses is expected to reach US$ 13,793.2 million by 2023 and reach US$ 23,607.3 Million by 2033. The market is projected to witness a growth rate of 5.5% between 2023 and 2033.
Black molasses became an important part of the market due to its natural byproducts, which allowed it to exploit this trend. This was perceived as a healthier alternative because it had a high mineral content. A black molasses is packed with minerals like iron, calcium, and potassium. Health-conscious consumers were attracted to its nutrient-dense qualities.
Sustainable and ethical sourcing has become increasingly important to the food industry. Environmental and social concerns could influence the sourcing of black molasses by companies and consumers.
Blackstrap molasses may also benefit from the trend towards artisanal foods and small-batch productions. Craft producers and specialty food companies create new and innovative products using blackstrap molasses. Due to its great nutrition, molasses has become quite popular in recent years as nutritionists and health practitioners discover its benefits.
“Blackstrap molasses is expected to gain popularity as alternative sweeteners become more popular. The demand for blackstrap molasses is expected to rise in the next few years as awareness of its health benefits expands,” says an FMI analyst.
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The use of molasses in baking, baking products, and marinades and sauces is well-known among cooks and foodies. The rise of globalization, the popularity of online shopping, and the commercialization of the Internet of things all contribute to the market’s growth. Further growth will come from the pharmaceutical and personal care industries.
Blackstrap molasses demand is expected to increase in the coming years due to consumer fitness awareness initiatives promoted by businesses, and nutritional organizations. Global blackstrap molasses market growth will be fueled by cold-pressed molasses extraction activities. The anti-inflammatory properties of these products have significantly increased the blackstrap molasses market demand.
Blackstrap molasses is another excellent brown sugar substitute. Besides being modestly glycemic, it contains micronutrients such as iron, calcium, and potassium. Iron content and anti-inflammatory properties make molasses popular in the natural health industry.
Blackstrap molasses, for example, contains high levels of antioxidants, which help reduce free radicals in the body. Many normal cellular processes are triggered by free radicals, which are naturally formed in the body. In addition to health benefits for the skin and pregnant women, the market continues to grow.
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Key Takeaways
- The global market for blackstrap molasses market is projected to expand at a CAGR of 5.5% over the forecast period.
- As of 2022, the blackstrap molasses market in India had a growth rate of 5.1%.
- The demand for blackstrap molasses in the food and beverage processing industry is expected to increase. A 32.5% market share was achieved in 2022.
- The United States market for blackstrap molasses was valued at 26.4% sales in 2022.
- Blackstrap molasses saw an average growth rate of 3.3% from 2018 to 2022.
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Competitive Landscape
Globally, the blackstrap molasses market has become highly competitive. The business will be able to thrive in a highly competitive market by offering a broader and more cost-effective product line.
Market Developments Include
- Crosby’s Molasses
Crosby’s Molasses is a Canadian company specializing in the production of blackstrap molasses. Their molasses are made from Canadian sugarcane and are renowned for their quality.
- Golden Barrel
Golden Barrel offers products such as blackstrap molasses and other syrups. Various culinary applications can be made with this traditional-style molasses.
Segmentation Analysis of the Blackstrap Molasses Market
By Nature:
- Organic
- Conventional
By End Use:
- Food and Beverage Processing
- Bakery and Confectionery Products
- Breakfast Solutions
- Desserts and Puddings
- Other Food and Beverge Processing
- Functional Foods and Dietary Supplements
- Foodservice/HoReCa (Hotels/Resturants/Cafe)
- Household
- Others
By Distribution Channel:
- Direct Sales/B2B
- Indirect Sales/B2C
- Hypermarkets/Supermarkets
- Convenience Stores
- Mass Grocery Retailers
- Specialty Stores
- Online Retailing
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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