LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global packaged molasses extract market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global packaged molasses extract market will grow at a CAGR of close to 7% during the forecast period. The growing applications of molasses extract is a major factor driving the market’s growth.
A major growth driver for the global packaged molasses extract market is the increasing use of molasses extract across various industries, during the forecast period. Industries such as food and beverages, personal care products, healthcare, pharmaceutical, animal feed, and others use molasses extract. Molasses extract is used as a sweetener in baked goods, dairy products, confections, and beverages, in the food and beverages sector. Some beverages with molasses extract include powdered drinks, sports and energy drinks, carbonated drinks, hot beverages, and ready-to-drink beverages.
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In this report, Technavio highlights cold-pressed molasses extraction as one of the key emerging trends driving the global packaged molasses extract market:
Cold-pressed molasses extraction
One of the positive trends that will influence the growth of the global packaged molasses extract market during the forecast period is the increasing demand for molasses extract, which is produced using cold pressing. To extract molasses, the cold pressing technique uses a hydraulic press instead of a centrifugal press, and the end-product is not subjected to heat during the process of extraction. Several players in the market are introducing packaged molasses extract products that are manufactured using the cold pressed extraction technology.
“The number of new product launches is expected to increase in the coming years. However, the high prices associated with the packaged molasses extract produced using the cold pressed extraction method will deter budget-conscious consumers from buying the product. Cold-pressed molasses extract will gain the attention of health-conscious consumers due to the health benefits associated with it, and this factor will help to increase the sales of cold pressed molasses extract during the forecast period,” says a senior analyst at Technavio for research on non-alcoholic beverages.
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Global packaged molasses extract market segmentation
This market research report segments the global packaged molasses extract market into the following applications (animal feed and food and beverage) and key regions (the Americas, APAC, and EMEA).
The animal feed segment held the largest market share in 2017, accounting for nearly 70% of the market. The market share for this application is expected to increase by 2022.
APAC was the leading region for the global packaged molasses extract market in 2017, accounting for a market share of nearly 41%. By 2022, APAC is expected to continue dominating the market and register positive growth.
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