Blackstrap molasses is obtained from sugarcane plants. It is the final by product in the manufacturing process of regular refined sugar and is highly concentrated than other molasses. Blackstrap molasses is a natural dense sweetener and has a strong flavor and rich mocha color and is also a substitute for brown sugar. It is rich in nutrients like iron, magnesium, and calcium and also contains antioxidants, which help to prevent damaging cells. Blackstrap molasses is used to add flavors and act as natural caramel coloring agent in food items such as ginger bread or baked beans, confectionery items, baked goods, soups, cereals, and sauces. It is also used as an additive to animal feed, to produce compressed yeast, ethanol, rum, and citric acid. In addition, it is taken as a mineral supplement to enhance menstrual health and iron level in the body. Moreover, it is also used as an ingredient in cosmetic products such as hair serum to enhance hair color, refortifying scalp, and hair. Also, it helps to stabilize bone health, blood sugar levels, blood pressure, and provides other health benefits.
The various applications of blackstrap molasses as an ingredient in different industries such as food & beverages, pharmaceutical, animal feed, food service, and cosmetics industry drive the growth of the blackstrap molasses market. However, the production of sugarcane has been badly affected and is anticipated to remain affected to bad climatic changes, which restricts the growth of the blackstrap molasses market in the future. Nevertheless, the cosmetic industry is anticipated to grow due to rise in disposable income of the consumers and their changing lifestyle and this is anticipated to increase the demand for blackstrap molasses to use it as an ingredient in cosmetic products and this is anticipated to fuel the growth of the blackstrap molasses market in the forthcoming years. Also, the rise in the growth of baking industry due to the accessibility, convenience, and changing lifestyle & food habit of consumers is expected to increase the demand for blackstrap molasses in bakery industry and this is anticipated to fuel the growth of the market.
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The global blackstrap molasses market is segmented based on type, form, end user, distribution channel, and region. On the basis of type, it is bifurcated into organic and conventional. By form, it is divided into liquid and dry powder. By end user, it is segregated into households, food & beverages industry, pharmaceutical industry, cosmetic industry, animal feed industry and food service industry. Depending on distribution channel, it is classified into direct and indirect channel. The indirect channel is further segmented into supermarkets/hypermarkets, discount stores, specialty stores, convenience stores, online stores and others. Region wise, the blackstrap molasses market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the prominent key players include Florida Crystals Corporation(ASR Group),Allied Old English, Inc., Louis Dreyfus Company LLC(Imperial Sugar Company), Crosby Molasses Company Limited, B&G Foods, Inc. , Sweet Harvest Foods, Inc., Meridian Foods Limited, Zook Molasses Company (Good Food, Inc.), Westway Feed Products Llc., and Domino Specialty Ingredients (ASR GROUP).
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KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global blackstrap molasses market from 2019 to 2026 to identify the prevailing market opportunities.
- The key countries in all the major regions are mapped based on their market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global industry. Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
- The report includes the analysis of the regional & global market, key players, market segments, application areas, and growth strategies.
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