The global blackstrap molasses market size has been estimated at around US$13 billion in 2020 and is projected to grow at a CAGR of around 5.68% between 2022 and 2032 and to exceed US$18.2 billion by 2027 Organic Blackstrap Molasses in a variety of end-use applications due to its various health benefits is a major force behind the expansion of the global blackstrap molasses market.

Blackstrap Molasses Market: Regional Analysis

The influence of western culture, changing lifestyle, increase in disposable income, etc. are some of the drivers behind the increasing demand for baked goods in Asia-Pacific. Thus, the increase in the consumption of baked goods is expected to increase the demand for black ribbon molasses as it is used in the production of various baked goods while providing various health benefits. Therefore, it is estimated that the Asia-Pacific blackstrap molasses market will grow at a fast pace.

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The increase in health awareness is serving as a driver for the blackstrap molasses market

Due to the hectic lifestyle, the increase in the number of working women, economic feasibility, etc., the demand for ready-to-eat products is increasing. Consumer preference for convenience is increasing and as a result, demand for baked goods is growing rapidly worldwide, which is estimated to boost the blackstrap molasses market.

Blackstrap molasses is used in the preparation of a variety of baked goods such as muffins, cookies, bread, cakes, etc. and hence the increasing demand for baked goods is expected to have a positive impact on the blackstrap molasses market.

In recent years, consumers’ health awareness has increased and it is therefore preferred to use products with high nutritional value. Therefore, companies are trying to develop new innovative products that…