Molasses is formed as a byproduct during the production of sugar from cane sugar, it occurs as molasses syrup which is then dried to produce dry molasses using technologies such as spray dry or freeze dry. Dry Molasses is a sweetner which is naturally fortified with nutrients such as vitamin B6, calcium, potassium, copper, iron and magnesium etc. There are several varieties of molasses syrup produced during sugar production such as light molasses, dark molasses, and blackstrap molasses all having different utilization and properties. Light molasses are the sweetest and used in baking, dark molasses are less sweet and can also be used for baking, blackstrap molasses is dark and thick and contains most vitamins and minerals. There are several associated health benefits of dry molasses consumption such as, it maintains bone health as it contains decent amount of calcium, improves heart health as it contains potassium and promotes better blood circulation and maintains heart health, molasses are rich in antioxidants therefore can also help in prevention of cancer.
Global dry molasses market is segmented on the basis of source, application, distribution channel and region. The global dry molasses market is segmented on the basis of source as sugar cane and beet, molasses is a byproduct formed during the production of sugar from cane sugar or sugar beet. The global dry molasses market is segmented on the basis of application in food, beverage, cosmetics and animal feed. The food segment is further sub segmented as bakery, beverage segment is further sub segmented as alcoholic and nonalcoholic beverage. The global dry molasses market is segmented on the basis of distribution channel as direct and indirect. Indirect segment is further sub segmented as supermarket/hypermarket, retails stores, online stores and other retail formats.
Market Regional Outlook:
Geographically, the global dry molasses market is segmented in to 5 major regions which includes North America, Latin America, Europe, Asia Pacific, Middle East and Africa. North America and Europe are expected to dominate the global dry molasses market during the forecast period due to increased production of sugar and pulp from cane sugar and sugar beet. India and china in Asia Pacific region and gulf countries along with Africa are expected to emerge as a growing dry molasses market for the consumption of dry molasses during the forecast period.
The driving force for the global dry molasses market is the increasing use of the dry molasses in the preparation of bakery products, alcoholic and nonalcoholic beverages, use of dry molasses in farms for increasing the quality and quantity of the microbes in soil and consumption of dry molasses in food as sweetner. Apart from these driving factors, global dry molasses market is expected to witness robust growth during forecast period due to number of associated health benefits related to the consumption of the molasses products. Dry molasses are also used for the production of the cosmetic products which is also fuelling the global dry molasses market. Hence, global dry molasses market is expected to have robust growth during the forecast period owing to these driving factors.
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Market Key Players:
Some of the key players identified across the value chain of the global dry molasses market includes Archer Daniels Midland Company, Zook Molasses Company, Mercer Milling Company, Pestell Minerals & Ingredients Inc., Ohly, Stockade Brands, Inc., Westway Feed Products, and Malt Products Corporation. The companies are expected to expand their business by enhancing their product portfolio in global dry molasses market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global dry molasses market till 2025.
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