U.S. - Molasses - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact
The U.S. Molasses Market to Reach 3.4M Tonnes by 2025
IndexBox has just published a new report "U.S.: Molasses - Market Report. Analysis And Forecast To 2025". Here is a summary of the report’s key findings.
Molasses Consumption Levelled off over the Last Year
The U.S. molasses market amounted to X tonnes in 2016, fluctuating mildly over the last nine year period. In 2016, it remained relatively stable, however, it was slightly lower than the highest level of consumption observed in 2012. In terms of wholesale prices, the market totaled $X in 2016 (IndexBox estimates). This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price).
In value terms, the dynamics of the market were more pronounced; after two years of significant growth from 2011 to 2012, the market slowed, leveling off slightly and then fluctuated notably over the next three years.
The U.S. Consumption of Molasses Is Expected to Reach X Tonnes by 2025
The further development of the molasses market will be determined by sugar industry trends and regulation: molasses are a by-product of sugar production.
The burgeoning demand for convenience food and ready-to-eat products can be listed as one of the key factors to contribute to further market expansion. Molasses extract is used as a stabilizing agent in many types of various food products. This, combined with the current growth being observed in the bakery industry, will promote the general expansion of the U.S. molasses market. In addition, the current growth trend noted on the market also depends on the rate of production in terms of its raw materials - sugar cane and sugar beet. Over the past two years, sugar cane and beet production has surged; this, in turn, has led to increased molasses output. Moreover, the growing use of molasses in the cosmetics, pharmaceutical and other industry sectors will further contribute to market growth in the near to medium term.
Food manufacturers are increasingly using molasses in their product lines, as a tangible alternative to the significant outlay required for pure sugar. At the same time, the U.S. population currently boasts a high sugar intake with regard to diet; at the moment, consumer behavior patterns are not forecast to shift: sugar represents an available, cheap source of energy, which is both easy to transport and store. In addition, the various different types of molasses are all used for different purposes: beet molasses, for example, are used in molasses and dairy cattle feed, as they are a significant source of protein and other minerals. Bakeries are also shifting towards using molasses in their products: molasses lend an improved, more appealing darker shade to bakery products than conventional sugar.
Market performance is forecast to grow with an anticipated CAGR of +X% for the period from 2017 to 2025, which is expected to lead the market volume to X tonnes by 2025.
Molasses Output Increased due to a Rise in Sugar Cane and Sugar Beet Production
Molasses production attained its peak figure of X tonnes in 2016, with a mixed dynamic being observed over the last eight years. Overall, the total molasses output was determined by the production performance of the product’s main raw materials, namely sugar cane and sugar beet. Molasses production tangibly increased over the past two year period, following the 2013 period of decline. The increased crop acreage for sugar cane and beet cultivation facilitated the improved production figures.
Approx. X% of the Total Market is Buoyed by Imports
In 2016, the share of product imports in terms of total consumption amounted to X%, declining from the peak figure of X% attained in 2008. This still illustrates the high attractiveness of the U.S. molasses market for foreign suppliers. Imports from Guatemala (X% in consumption volume), El Salvador (X%), Honduras (X%), Mexico (X%), Australia, Belize and Dominican Republic (X%, each), assumed an important share in total U.S. molasses consumption.
Canada, the UK and the Netherlands Were the Main Export Destinations for U.S. Molasses
The U.S. exported X tonnes of molasses in 2016, which accounted for X% of U.S. molasses output. In the last year, exports surged by X%, significantly offsetting the slump of the previous year. In value terms, product exports amounted to $X in 2016.
In 2016, the main destinations for U.S. molasses exports were Canada (X%), the UK (X%), the Netherlands (X%), Ireland (X%), Korea (X%), and Mexico (X%). Korea and Mexico recorded the highest annual average rate of growth in terms of product imports amongst the leaders, with a CAGR of +X% and +X%, respectively, from 2007 to 2016. The share exported to the UK (+X percentage points), Korea (+X percentage points), and Mexico (+X percentage points, each) increased, while the share sent to Canada illustrated a negative dynamic (-X percentage points). The shares of the other countries remained relatively stable throughout the analyzed period.
Guatemala, El Salvador, Honduras and Mexico Were the Main Suppliers of Molasses into the U.S.
The volume of total U.S. molasses imports totalled X tonnes in 2016, remaining relatively stable over the last year. In value terms, it was $X, which was X% less than the highest level achieved in 2013.
Guatemala (X%, based on tonnes), El Salvador (X%), Honduras (X%), Mexico (X%), Australia (X%), Belize (X%) and Dominican Republic (X%) were the main suppliers of total molasses into the U.S. The remaining countries assumed X% of total U.S. imports in 2016. Honduras (+X% per year) and Belize (+X% per year) were the fastest growing suppliers from 2007 to 2016. Honduras (+X percentage points) and Belize (+X percentage points) strengthened their position in U.S. imports from 2007 to 2016. By contrast, Guatemala (-X percentage points), Mexico, Australia (-X percentage points, each), El Salvador (-X percentage points) saw their share reduced.
Do you want to know more about the U.S. molasses market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- molasses market share
- molasses prices
- molasses industry
- molasses sales
- molasses import
- molasses export
- molasses market forecast
- molasses price forecast
Source: IndexBox AI Platform
This report provides an in-depth analysis of the molasse market in the USA. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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