The market for citrus molasses was valued at US$ 687.2 million in 2022 and is projected to reach US$ 1,507.06 million by 2033, with a CAGR of 7.4% from 2023 to 2033. This growth is driven by increased demand for citrus products.
The livestock population is expected to grow in the coming years to meet the rising demand for dairy, meat, and other livestock products. As the number of animals increases, the need for feed is anticipated to rise correspondingly. Growing consumer awareness about healthy eating has heightened the demand for immunity-boosting and natural ingredients in animal feed. Consequently, the citrus molasses market in the animal feed sector is expected to experience significant growth.
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Owners of livestock and pets are more concerned than ever with the wellbeing of their animals. This is a major factor in their increased investment in high-quality animal feed. need for livestock feed has increased globally as a consequence of consumers’ need for more accurate livestock feed. Consumers are growing more knowledgeable about the allergies and intolerances of their dogs, which is expected to open up opportunities for the production of citrus molasses.
Citrus molasses is manufactured in large numbers and consequently readily available on the market. This is a crucial element in the market’s success in attracting customers. The low cost of citrus molasses is due to its availability and the lack of extra processing needed. This makes the product extremely desirable for use in final applications, particularly in the market for animal feed and biofuel. The excellent nutritional value increases market value together with affordable rates.
Key Takeaways from the Market Study
- Global market for citrus molasses is expected to be valued at US$ 738.05 million by 2023
- In terms of global share, conventional citrus molasses has the dominant market share, accounting for 81% of the market in 2022.
- By application, the pulp production gained significance and is likely to grow with a 6.1% CAGR from 2023 to 2033.
- With an 71.2% market share in citrus molasses market in 2022, the United States is expected to continue to be one of the most profitable markets during the forecast period.
- Germany holds a sizeable portion of the European citrus molasses market and is anticipated to expand at a CAGR of 3.3% during the anticipated period.
- Mexico is predicted to have a CAGR of 6.23% during the forecast period and had around 26.2% of the Latin American market in 2022.
“A multitude of new businesses have entered the market in an effort to attract clients by providing distinct citrus molasses product offers as a result of the rising demand for citrus goods.” remarks an FMI analyst.
Competitive Landscape
Prominent players in the citrus molasses market are:
- Lemon Concentrate S.L.
- Louis Dreyfrus Company B.V.,
- Citrusuco S.A.,
- Citromax Group,
- Sucocitrico Cutrale Ltd.,
- Yantai North Andre Juice Co. Ltd.
- Vita-Pakt Citrus Products,
- Peace River Citrus Products
- Rio Grande Juice Company
- Citrus Processing India (P) Ltd.
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Some key developments of the leading companies in this market are:
- Louis Dreyfus Company B.V. (LDC) published its consolidated financial accounts for the year 2022 in 2023, in the midst of fresh and continuing socioeconomic, geopolitical, and environmental turbulence. The Group continued to contribute to maintaining crucial food and agribusiness supply networks operating in a reliable, responsible, and safe manner. As part of the Group’s decarbonization journey, LDC also declared a 33.6% reduction target for its Scope 1 & 2 emissions rates of greenhouse gasses by 2030 as contrasted to 2022 as its baseline year.
- In 2022, Citrosuco, a Brazilian company that makes 20% of the orange juice consumed worldwide, recently unveiled the launch of Evera, a cutting-edge division that will generate natural ingredients for a variety of industries using an approach that reuses orange waste, such as peels, husks, seeds, leaves, and flowers.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global citrus molasses market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the citrus molasses market , the market is segmented on the basis of citrus molasses by nature (conventional, organic), sales channel (b2b/ direct sales, b2c/ indirect sales), end use application (animal feed, pulp production, biofuel) and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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