(MENAFN- Ameliorate Digital Consultancy)
Dry molasses, also known as molasses powder, is a by product of the sugar refining process. It is made by removing the liquid component of molasses and drying the remaining solids into a powder form. Dry molasses is used in a variety of industries, including animal feed, agriculture, and food production.
The global dry molasses market has been growing steadily in recent years, driven by increasing demand for natural and organic products. According to a report by Persistence Market Research, the global dry molasses market was valued at $10.7 million in 2019 and is projected to reach $15.1 million by 2027, growing at a CAGR of 4.2% from 2020 to 2027.
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One of the major drivers of the dry molasses market is the increasing demand for natural and organic animal feed. Dry molasses is a rich source of minerals and nutrients, making it an ideal supplement for animal feed. It is often used as a flavor enhancer in livestock and pet food products, as well as in feed for poultry, swine, and dairy cows. The growing awareness of the health benefits of natural and organic products has led to an increased demand for dry molasses in the animal feed industry.
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Another factor driving the growth of the dry molasses market is its use in agriculture. Dry molasses is a natural fertilizer that can improve soil quality and promote healthy plant growth. It is often used in organic farming as an alternative to chemical fertilizers. Dry molasses also contains natural sugars that can stimulate microbial activity in the soil, which can lead to better nutrient uptake by plants. The food industry is also a major consumer of dry molasses. It is used as a natural sweetener and flavor enhancer in a variety of food products, including baked goods, confectionery, and beverages. Dry molasses is a popular ingredient in artisanal breads and pastries, as well as in barbecue sauces and marinades.
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North America is currently the largest market for dry molasses, accounting for over 40% of the global market share. This is due to the strong demand for natural and organic animal feed and the growing trend towards sustainable agriculture practices in the region. Europe is also a significant market for dry molasses, driven by the increasing demand for natural and organic food products.
The major players in the dry molasses market include Westway Feed Products, Sweet Harvest Foods, and Malt Products Corporation. These companies are investing in research and development to develop new products and expand their market share. They are also focusing on sustainability and environmental responsibility, developing products that are both natural and eco-friendly.
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