The Global Molasses Market is been classified, by source, into sugarcane, sugar beets and others. The sugarcane segment is expected to gain largest share, owing to the factor that sugarcane is cultivated on a large scale and the cost of the process to extract molasses is low.
The Global Molasses Market has been segregated, by application, into functional food & beverages, animal feed, biofuel and others. The food & beverage segment is projected to gain largest share in the global molasses market due to the major application of molasses as sweetener in food and beverage products. The high antioxidant activity of molasses categorizes it as superfoods and play a vital role as a food supplement. However, the animal feed segment is anticipated to grow with the highest growth rate during the forecast period owing to the significant increase in animal farming.
Global Key Players and Competition Analysis
Some of the key players in the global molasses market are Michigan Sugar Company (US), B&G Foods, Inc.(US), Crosby Molasses Co Ltd. (Canada), The Archer Daniels Midland Company (US), Cora Texas Manufacturing Company, LLC (US), Malt Products Corporation (US), Westway Feed Products LLC (US), Good Food Inc. (US), E D & F Man Holdings Limited (UK), B&G Foods, Inc. (US), Sweet Harvest Foods Inc. (US), Domino Specialty Ingredients (US).
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Regional Analysis
The global molasses market has been segmented based on region, into North America, Europe, Asia-Pacific, Rest of the World.
Asia-Pacific is expected to dominate the global molasses market owing to the large production of molasses in the region. Countries such as India, Thailand, Philippines and Indonesia are among the largest producers of molasses in the region.
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