Global Molasses Market

Booming Bakery Industry to Fuel Demand for Molasses - Transparency Market Research

ALBANY, New York, December 18, 2017 /PRNewswire/ --

With predictions of robust growth, the global molasses market is likely to observe even stiffer competition among key players in the coming years. As per a recent study by Transparency Market Research (TMR), companies will majorly focus on expanding their product portfolio to strengthen their competitiveness. Besides this strategic collaborations will remain a sought after strategy, especially among companies looking to develop footprint in emerging nations. Companies such as Crosby Molasses Co Ltd., Michigan Sugar Company, Cora Texas Manufacturing Company, LLC, Malt Products Corporation, B&G Foods, Inc., Westway Feed Products LLC, Spreckels Sugar Company, Inc., Domino Specialty Ingredients, Sweet Harvest Foods Inc., and Good Food Inc. are a few of leading names in the global molasses market. Strategies adopted by these and other companies can extremely sway the prevailing trends in the overall market.

According to TMR, the global market is expected to reach US$18,281.7 mn by the end of 2025, compared to US$11,596.5 mn, its value in 2016. Thus during the period, TMR forecasts the market to exhibit a CAGR of 5.05%. Sugarcane and sugarbeet are the key sources from where molasses are derived. Of these, the sugarcane segment held clear dominance in the market and is anticipated to hold nearly 88% of the overall market through the forecast period. Regionally, the market will witness considerable prospects in Asia Pacific and Latin America through the forecast period.

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Rising Sugarcane Production to Aid Expansion of Molasses Market 

Among the key factors enabling the market gain pace, the rising demand for convenience food and ready-to-eat snacks is at fore. With the expansion of the bakery industry, opportunities for the market have escalated worldwide. Extracts from molasses are used as stabilizing agents in various food applications. Considering this, growth witnessed in the bakery industry will aid the overall expansion of the global molasses market. Besides this, growth witnessed in the market is also influenced by the production rate of its sources, which are sugarbeet and sugarcane. Sugarcane production has surged considerably in the last couple of years and the benefits of the same are reaped significantly by the global molasses market. In addition, their rising use in food, cosmetic, pharmaceutical, and other industrial applications will pave way for the market's positive trajectory in the forthcoming years.