Blackstrap Molasses has been majorly used for ethanol fermentation to produce raw alcohol and it is accounted for 38% of the blackstrap molasses market, but as it is considerable source of vitamins and minerals, and cost-effective, its increasingly being used for animal feed, which is expected to boost the demand for blackstrap molasses.
๐ฅ๐ฒ๐พ๐๐ฒ๐๐ ๐ง๐ต๐ฒ ๐ฆ๐ฎ๐บ๐ฝ๐น๐ฒ ๐ฃ๐๐ ๐ข๐ณ ๐ง๐ต๐ถ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.alliedmarketresearch.com/request-sample/5944
Surge in molasses demand from the bakery industry due to its lower cost in comparison to sugar, rise in alcoholic beverages production, and changing food habits and lifestyle preferences fuel the growth of the global blackstrap molasses market. However, allergic reactions from people and reduced manufacturing activity of cane sugar restrict the market growth. On the other hand, increase in usage as coloring agent and sweetening agent in the food and beverage sector offers new opportunities in the coming years.
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The players operating in the blackstrap molasses industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Allied Old English, Inc., Crosby’s Molasses and More, B&G Foods, Inc., Meridian Foods Limited, Zook Molasses Company, ED&F Man Liquid Products UK Ltd., Malt Products Corporation, Pestell Minerals & Ingredients Inc., Domino Specialty Ingredients, and Buffalo Molasses.
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Region wise, LAMEA held second highest blackstrap molasses market share in 2019, after Asia-Pacific, and is projected to maintain this trend throughout the blackstrap molasses market forecast period. Brazil is the highest cane sugar producing country in the region. As blackstrap is the byproduct of sugar production, Brazil has been producing massive amount of blackstrap molasses and accounted for 30% of the global blackstrap molasses market. Brazil played a pioneering role in implementing a competitive bioethanol industry. Growing production of sugar in Brazil is estimated to bolster the blackstrap molasses market growth during the forecast period. For instance, according to the United States Department of Agriculture, Foreign Agriculture Services, the production of sugar in Brazil accounted for 29,500 million metric tons in 2018 and reached to 29,925 million metric tons in 2019.ย
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By form, the liquid segment contributed to the largest market share in 2019, accounting for more than two-thirds of the total market share, and is projected to maintain its lead position throughout the forecast period. However, the powder segment is expected to manifest the highest CAGR of 6.6% from 2021 to 2027.
By application, the industrial fermentation segment accounted for the highest share in 2019, holding nearly half of the global blackstrap molasses market, and is expected to maintain its leadership status during the forecast period. However, the animal feed segment is estimated to witness the largest CAGR of 9.2% from 2021 to 2027.
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Despite the enormous benefits of blackstrap molasses, it is found that consumption of blackstrap molasses causes some kind of allergic reaction. ย It believes to be good alternative to refined sugar and artificial sweeteners for diabetic people, but some people have observed raised blood sugar level after taking it. It has low glycemic index, which makes it safe, but within limited amounts. It is recommended to diabetic patients that, they should not consume it in excess amounts and avoid using it more than one teaspoon per day.
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