[FURL=https://www.industryarc.com/Report/17845/molasses-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Molasses Market[/FURL] Molasses market size is forecast to reach $13.8 billion by 2026, growing at a CAGR of 4.0% during the forecast period 2021-2026. The by-product of sugar beets or sugar cane which gets generated during the sugar yielding process is known as molasses or the black treacle. When compared to conventional sugar, molasses is more balanced on the nutrition front, which gives it an edge in the market and acts as key driver for the growth of the market. With consumers being aware of health and wellness with time, molasses are often considered as a nutritional sweetener and an important ingredient in different food preparations. Molasses are quite versatile in nature because of which they cater to a wide spectrum of application areas as well as a lot of industries, which can be a considered as a potential driving factor is set to further enhance the overall market developments of the Molasses Market for the period 2021-2026.Key Takeaways
Asia Pacific dominated the Molasses Market in 2020 owing to the favorable climatic conditions and huge lands for sugarcane cultivation. The Molasses market scope for different regions will be provided in the final report.
Growing awareness pertaining to healthy eating across all the economies, coupled with the nutritional benefits of molasses is likely to aid the market growth of the Molasses Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Molasses Market report.
With the advent of covid-19 pandemic and its associated lock down conditions, major sugar cane producing countries faced lack of government support and human resource unavailability which is poised to create the hurdles for the Molasses Market.
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Molasses Market Segment Analysis – By Geography
Asia Pacific dominated the Molasses Market with a major share of 39.2% in 2020. This can be attributed to the climatic conditions which are in favor of the cultivation process of sugarcane. Moreover, agricultural lands are in surplus throughout Asia Pacific because of which it is the major center of production worldwide. Currently, government policies are coming in place which are trying to encourage sugarcane production is increasing the growth of the market in this region.
Molasses Market Drivers
Increasing consumer preference towards healthy eating
Wide area of applications across multiple industries
Molasses Market Landscape
The Molasses Market, top 10 companies are Westway Feed Products LLC, Crosby Molasses Co Ltd., Cora Texas Manufacturing Company, LLC, Michigan Sugar Company, and Sweet Harvest Foods Inc., among others.
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