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Molasses Market Trends
- Report ID: GMI6950
- Published Date: Oct 2023
- Report Format: PDF
Molasses Market Trends
The craft beverage industry, including craft beer, spirits, and kombucha, is increasingly using molasses as a flavor enhancer and fermentable sugar source. Its rich and complex flavor can add depth to these beverages, appealing to consumers looking for unique taste experiences.
Frequently Asked Questions (FAQ) :
The Molasses Industry was valued at USD 17.9 billion in 2023 and it is estimated to reach USD 22.6 billion by 2032 with a CAGR of over 3% during the study period.
The food & beverages segment held the highest revenue share of 65% in 2022, owing to the growth of craft and artisanal F&B sector, as craft breweries, distilleries, and specialty food producers use molasses to create unique and high-quality products.
Asia pacific region accounted for 8.89% of the total market share in 2022 and will continue to grow attributed to expanding food & beverage industry in the Asia-Pacific region, where molasses is used in a variety of products, from snacks and baked goods to sauces and beverages.
Archer Daniels Midland Company (ADM), Wilmar International, Bunge Limited, Cargill Incorporated, Louis Dreyfus Company, Amalgamated Sugar Company, Spreckels Sugar Company, American Crystal Sugar Company, and Nippon Beet Sugar Manufacturing Co., Ltd. among others.
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