Blackstrap Molasses Market to Reach $18.18 Bn, Globally, by 2027 at 5.7% CAGR: Allied Market Research

PORTLAND, Ore., Oct. 26, 2020 /PRNewswire/ -- Allied Market Research published a report, titled,"Blackstrap Molasses Marketby Form (Liquid and Powder), Application (Industrial fermentation, Food & Beverages, Pharmaceutical, Animal Feed, Other), and Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast 2021a??2027." According to the report, the global blackstrap molasses industry generated $12.88 billion in 2019, and is expected to garner $18.18 billion by 2027, growing at a CAGR of 5.7% from 2021 to 2027.Drivers, restraints, and opportunitiesRise in demand for molasses from the bakery sector as itscost is lower as compared to sugar, increase in production of alcoholic beverages, and changes in food habits and lifestyle preferences of people drive the growth of the global blackstrap molasses market. However, allergic reactions among people and reduced production of cane sugar hinder the market growth. On the other hand, surge in usage as sweetening agent and coloring agent in the food and beverage industry presents new opportunities in the coming years. Request Sample Report at: Scenario
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