Base Year
Historical Year
Forecast Year
The global blackstrap molasses market reached a value of approximately USD 11.25 billion in 2023. The market is projected to grow at a CAGR of 2.8% between 2024 and 2032, reaching a value of around USD 14.45 billion by 2032.
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The blackstrap molasses market advances with ongoing improvements in production technology, refining extraction, and processing methods to ensure superior quality and consistency in the product.
Pharmaceutical formulations like syrups, suspensions, and oral solutions can utilize blackstrap molasses as an excipient or formulation aid. Its viscosity, flavour, and nutritional benefits enhance palatability and nutritional value, improving patient compliance and acceptability.
By 2024, the pharmaceutical industry in India is forecasted to reach USD 65 billion, with expectations to double to USD 130 billion by 2030.
Nutritional benefits, e-commerce growth, packaging innovation, and sustainable sourcing are the major trends impacting global blackstrap molasses market growth.
April 2024
Allied Pinnacle selected Molasses to launch Wise Wheat in Australia, a high-fiber wheat variety. Molasses was tasked with brand strategy, positioning, and creative development, including naming, identity creation, and campaign execution.
January 2024
State-run OMCs issued a tender for ethanol procurement, excluding sugarcane juice and B-heavy molasses. BPCL floated a tender for about 267 crore litres of denatured anhydrous ethanol for the 2023-24 ethanol supply year.
April 2023
Belize Sugar Industries (BSI) has increased the price of a long ton of domestic blackstrap molasses by $60, raising it from $295 per ton to $355 per ton.
June2021
The study sought to produce and analyse chitosan-coated manganese ferrite nanoparticles via a one-step coprecipitation method. Furthermore, it examined ethanol production from blackstrap molasses using free S. cerevisiae and yeast immobilised on these nanoparticles.
Nutritional Benefits
Blackstrap molasses is rich in essential minerals like iron, calcium, magnesium, and potassium. Its high antioxidant content also contributes to its popularity among health-conscious consumers.
E-commerce Growth
The growth of e-commerce platforms has increased the accessibility of blackstrap molasses to a wider consumer audience, thereby driving market expansion.
Packaging Innovation
Innovations in packaging, including the introduction of squeezable bottles and single-serve packs, are making blackstrap molasses significantly more convenient and user-friendly for consumers.
Sustainable Sourcing
Increasing emphasis on sustainable and ethical sourcing practices is becoming a key selling point, significantly attracting environmentally conscious consumers who prioritize eco-friendly and socially responsible products.
The demand for blackstrap molasses is increasing due to its rising use in agriculture as a soil conditioner and fertilizer further enhancing soil health and crop yields sustainably. Blackstrap molasses is used in vegan recipes as a source of essential nutrients, catering to the rising vegan population.
Moreover, there is an increasing demand for organic blackstrap molasses, driven by consumers' preference for organic and non-GMO products. Advancements in production technology are improving extraction and processing methods, resulting in improved quality and consistency of blackstrap molasses.
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“Global Blackstrap Molasses Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Form
Market Breakup by Application
Market Breakup by Distribution Channel
Market Breakup by Region
Liquid form enhances the blackstrap molasses market by offering the convenience of use for both home cooks and commercial food manufacturers.
Liquid form is versatile and can be used in a variety of culinary applications, including baking, cooking, beverages, and as a sweetener in health foods. In the food and beverage industry, the liquid form of blackstrap molasses is favoured for its consistency and ease of incorporation into recipes and products.
The powder form of blackstrap molasses is used in the nutraceutical industry to produce health supplements, energy bars, and fortified foods.
Industrial fermentation contributes to the blackstrap molasses market growth by enhancing the nutritional profile of molasses, making it a valuable component in animal feed formulations.
Industrial fermentation processes enable the valorisation of waste streams, including molasses, into value-added products. By fermenting molasses-derived sugars, bioproducts such as organic acids, and microbial biomass can be produced, enhancing resource efficiency in industrial operations.
Pharmaceutical companies utilise blackstrap molasses in the development of iron supplements and formulations designed to treat or prevent iron deficiency-related conditions. The demand for iron-enriched pharmaceutical products drives the consumption of blackstrap molasses as a raw material.
The companies are the manufacturers of drinks, meal solutions, baking, snacks and crackers, molasses, rice flour and others.
Allied Old English, Inc.: Founded in 1951 and is headquartered in Port Reading, NJ. The company is a food manufacturing business which manufactures drinks, drink mixes, and other liquid products.
Crosby Molasses Co. Ltd.: Established in 1879 and based in Saint John, New Brunswick, Crosby Foods Limited is a trusted Canadian food company known for its stringent quality standards in products and personnel.
B&G Foods, Inc.: Founded in 1889 and based in Parsippany, New Jersey. The company offers brands in categories including baking, households, meal solutions, snacks and crackers, spreads and syrups, and others.
Mahajan Molasses Company Source: Established in 1998 and based in Punjab, India. The company offers various products including molasses, rice flour, white sugar, and Indian rice.
Other global blackstrap molasses market key players are Domino Comercio, SA de CV and Good Food, Inc. among others.
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India's animal feed market is expected to hit approximately $19.23 billion, with a compound annual growth rate of 8.2%. This shows the rise in the demand for the blackstrap molasses market in the nation.
As per the DAERA, in February 2024, the combined deliveries of compound and processed animal feedstuff by feed manufacturers in Northern Ireland reached 239.1 thousand tonnes, reflecting a 7.0% rise from February 2023, reflecting the growth in the blackstrap molasses market in the country.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Form |
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| Breakup by Application |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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Blackstrap Molasses Market Size
Blackstrap Molasses Market Growth
Blackstrap Molasses Market Trends
Blackstrap Molasses Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market was valued at USD 11.25 billion in 2023.
The market is projected to grow at a CAGR of 2.8% between 2024 and 2032.
The revenue generated from the blackstrap molasses market is expected to reach USD 14.45 billion in 2032.
The major market drivers include changing consumer preferences, lifestyle shifts, increasing bakery demands, and improving sugar cane production.
The growing usage of blackstrap molasses in food and drinks and the increasing consumer awareness of its advantages are expected to be the key trends guiding the growth of the market.
The market is categorised according to the form, which includes liquid and powder.
Based on the application, the market is divided into industrial fermentation, food and beverages, pharmaceuticals, animal feed, and others.
Based on the distribution channel, the market is divided into online and offline.
The market key players are Allied Old English, Inc., Crosby Molasses Co. Ltd., B&G Foods, Inc., Mahajan Molasses Company, Domino Comercio, SA de CV and Good Food, Inc., among others.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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