Market overview:

Sugarcane molasses, a by-product of making raw sugar from sugarcane, generally contains just under 55% total sugars, just over 1% protein, and 80-86% solids totals. Blackstrap molasses has gained popularity in industrial fermentation because it produces raw alcohol. Increasing cane sugar production is expected to promote commodity market growth during the forecast period. For example, according to the Food and Agriculture Organization of the United States, world sugar production was estimated at 179.3 million tonnes in 2018/19 (October / September).

Recent developments:

B&G Foods, Inc. (NYSE: BGS) announced today that it has completed the acquisition of iconic vegetable shortening and oils brand Crisco from The JM Smucker Co. for $ 550 million in cash, reserved for customary inventory-based adjustment when closing.
Crosby Molasses has imported sugar cane molasses to Canada for 139 years and is proud to be one of the largest importers of elegant black molasses in the world.
Market Drivers and Restrains:

The increasing use of black molasses in food and beverages and increasing consumer awareness of its benefits is expected to boost the black molasses industry. Consumers are becoming more and more health conscious and prefer products with a high nutritional content. Therefore, companies in this sector are trying to create new products that provide a variety of health benefits. Food and beverage manufacturers could take advantage of the increased demand for molasses in the bread industry because it is cheaper than sugar. The sector is being driven by an increase in the manufacture of alcoholic beverages, as well as changes in people's food and lifestyle choices.

To know more read:

https://www.marketdataforecast.com/market-reports/blackstrap-molasses-market

Report is segmented as:

The Global Blackstrap Molasses Market is segmented based on by its form, by application, by distribution channel. By Form it is segmented into powder and liquid. By Application it is segmented into food and beverages, industrial fermentation, animal feed, pharmaceutical and other. By Distribution channel it is segmented into offline and online.

Geographical Segmentation:

Due to the vast production of sugar from sugarcane, Asia-Pacific dominated the global black molasses industry. This is mainly due to favorable weather conditions, large agricultural regions, and government incentives for cane sugar production. The growing demand for bakery products in the Asia-Pacific region can be attributed to changes in lifestyles, the growing influence of the West, and increased disposable income.

Impact of COVID-19 on Blackstrap Molasses Market

The outbreak of the COVID-19 pandemic has had a negative impact on the black molasses market. Production has experienced a significant drop due to labor shortages, global transposition and the closure of sugar cane factories. Additionally, adverse conditions and a lack of government support to farmers in major cane sugar producing countries such as India and Brazil, as well as the closure and emergence of curfews during the pandemic are having an impact on sugarcane factories, which is expected to hamper product market growth.

Key market players:

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.