The global packaged molasses extract market is set to gain traction from its increasing usage in the food and beverages sector. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Packaged Molasses Extract Market Size, Share and Industry Analysis, By Type (Blackstrap Molasses, Dark or Medium Molasses, Light Molasses), By Form (Liquid, Powder), By Category (Organic, Conventional), By Packaging (Glass Bottles, Plastic Bottles, Pouches), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Retail) and Regional Forecast, 2020-2027.” The report further states that packaged molasses extracts are mainly utilized in the production of various items, such as candles, cakes, pastries, and ice creams because of their bake-proof nature.
The emergence of the COVID-19 pandemic has brought the entire world to a standstill. Several industries are facing immense financial losses owing to the disruptions in supply chains and halt in production processes. Hospitals are running out of beds for coronavirus positive patients. Unless a vaccine is found, nobody knows till when this situation will continue. Our reports provide extensive analysis of every factor that may affect the market positively and negatively. We have also enlisted a few strategies for business growth.
What Does This Report Include?
The research report contains an in-depth study of various regions. It was curated by our team of highly skilled analysts after studying and observing numerous factors that determine regional growth, such as political, technological, social, economic, and environmental status of that particular region. The competitive landscape section was developed to help our clients better understand the collaborations and strategies that key companies are focusing on to compete with their rivals globally.
Drivers and Restraints-
Rising Usage as a Sweetening Agent to Drive Growth
Packaged molasses extracts are available in various forms depending on the extraction process and their sugar content. Hence, they are extensively used in a wide range of ready-to-eat snacks and convenience food as a sweetening agent. The increasing adoption of fast-paced lifestyles is set to propel the demand for ready-to-eat food worldwide. It is expected to bolster the packaged molasses extract market growth in the near future. Besides, these extracts are also utilized in making refined sugar as they contain antioxidants, vitamins, and minerals.
However, the availability of natural sweetening agents, namely, maple syrup, agave syrup, and honey possessing similar functionality of packaged molasses extracts may hinder growth. Also, people nowadays are rapidly shifting towards zero-calorie sweeteners because of the surging awareness of their health benefits. It would also obstruct growth.
North America to Remain at Forefront Stoked by High Demand for Fortified Drinks
Geographically, North America is anticipated to generate the largest packaged molasses extract market share in the near future. This growth is attributable to the increasing usage of these extracts in pancakes and breakfast cereals to enhance their taste and flavor. Coupled with this, higher adoption in several fortified drinks would also spur growth.
Get Sample PDF Brochure:
Asia Pacific, on the other hand, is likely to grow considerably backed by the increasing cultivation of sugar beet and sugarcane in developing nations, such as India and China. In Europe, the high demand for packaged molasses extracts from the bakery and confectionery sector would augment growth. They are extensively used in baked beans, porridges, and pies.
Key Players Focus on Developing Unique Products to Compete with Their Rivals
The market for packaged molasses extracts houses multiple prominent manufacturers that are mainly focusing on conducting research and development activities to launch innovative and tasty products. This way, they are planning to attract more consumers. Below are the two latest industry developments:
- August 2020: Nutrition Innovation joined hands with Central Sugars Refinery (CSR) to unveil its latest low-GI sugar. It will be marketed under the brand called Better Brown. The processing will retain caramels and molasses, thereby making it 10% sweeter than regular brown sugar.
- August 2020: Ben and Jerry’s, a provider of premium ice cream, frozen yoghurt, and sorbet introduced their two new frozen snacks, namely, Cinnamon Bun Dough Chunks and Gingerbread Cookie Dough Chunks. They contain molasses, cinnamon, sunflower lecithin, ground ginger, and brown sugar.
A list of all the reputed packaged molasses extract providers operating in the market:
- Indiana Sugars, Inc.
- International Molasses Corporation, Ltd.
- BandG Foods, Inc.
- E D and F Man Holdings Limited
- Pures Sweet Honey Farm Inc.
- Zook Molasses Company
- Fairly Traded Organics
- K. Birla Group of Sugar Companies
- Other key market players
Speak To Analyst:
Have a Related News: