Market overview
The global molasses market is worth USD 9.0 bn in 2026 and is forecast to reach USD 13.4 bn by 2036, growing at a 4.0% CAGR. India is the largest country market and Cane molasses is the largest by source segment.
| Scope | Molasses produced from sugar cane and sugar beet and sold for animal feed, fermentation into ethanol and yeast, and food and industrial uses. |
|---|---|
| Industry | Food and Beverage |
| Value 2025 | USD 8.7 bn |
| Value 2026 | USD 9.0 bn |
| Value 2036 | USD 13.4 bn |
| CAGR 2026-2036 | 4.0% |
| Volume 2026 | 64.2 million tonnes |
| Volume 2036 | 90.3 million tonnes |
| Average price 2026 | USD 141 per tonne |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Molasses market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 9.0 bn |
| 2027 | USD 9.4 bn |
| 2028 | USD 9.8 bn |
| 2029 | USD 10.2 bn |
| 2030 | USD 10.6 bn |
| 2031 | USD 11.0 bn |
| 2032 | USD 11.4 bn |
| 2033 | USD 11.9 bn |
| 2034 | USD 12.4 bn |
| 2035 | USD 12.9 bn |
| 2036 | USD 13.4 bn |
Molasses market segmentation
By source
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Cane molasses | 78.0% | 78.7% | USD 7.1 bn | 4.1% |
| Beet molasses | 20.0% | 19.2% | USD 1.8 bn | 3.6% |
| Other (citrus, sorghum) | 2.0% | 2.0% | USD 181 mn | 4.1% |
By end use
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Animal feed | 38.0% | 36.1% | USD 3.4 bn | 3.5% |
| Ethanol and distilleries | 26.0% | 27.2% | USD 2.4 bn | 4.5% |
| Yeast and fermentation | 14.0% | 15.3% | USD 1.3 bn | 5.0% |
| Food and beverage | 12.0% | 11.9% | USD 1.1 bn | 4.0% |
| Industrial and other | 10.0% | 9.5% | USD 905 mn | 3.5% |
By form
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Liquid | 86.0% | 84.8% | USD 7.8 bn | 3.9% |
| Dry and powdered | 8.0% | 8.7% | USD 724 mn | 4.8% |
| Blended with other ingredients | 6.0% | 6.5% | USD 543 mn | 4.8% |
By grade
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Final (blackstrap) molasses | 63.0% | 60.0% | USD 5.7 bn | 3.5% |
| Refiner's molasses | 17.0% | 18.0% | USD 1.5 bn | 4.6% |
| High-test molasses | 10.0% | 10.0% | USD 905 mn | 4.0% |
| Food-grade and organic | 10.0% | 12.0% | USD 905 mn | 5.9% |
By sales route
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Direct from sugar mills | 57.0% | 54.0% | USD 5.2 bn | 3.4% |
| Traders and distributors | 30.0% | 31.0% | USD 2.7 bn | 4.3% |
| Imports | 13.0% | 15.0% | USD 1.2 bn | 5.5% |
Top 25 countries for molasses by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 66.5% of 2026 revenue and the 25 countries below together hold 89.4%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | India | USD 1.5 bn | 17.0% | USD 2.4 bn | 4.5% |
| 2 | China | USD 905 mn | 10.0% | USD 1.4 bn | 4.5% |
| 3 | United States | USD 814 mn | 9.0% | USD 1.1 bn | 2.9% |
| 4 | Brazil | USD 724 mn | 8.0% | USD 1.0 bn | 3.5% |
| 5 | Pakistan | USD 452 mn | 5.0% | USD 670 mn | 4.0% |
| 6 | Thailand | USD 452 mn | 5.0% | USD 670 mn | 4.0% |
| 7 | Indonesia | USD 362 mn | 4.0% | USD 589 mn | 5.0% |
| 8 | Mexico | USD 271 mn | 3.0% | USD 375 mn | 3.3% |
| 9 | Philippines | USD 271 mn | 3.0% | USD 402 mn | 4.0% |
| 10 | Egypt | USD 226 mn | 2.5% | USD 335 mn | 4.0% |
| 11 | Colombia | USD 226 mn | 2.5% | USD 604 mn | 10.3% |
| 12 | Australia | USD 226 mn | 2.5% | USD 403 mn | 6.0% |
| 13 | Vietnam | USD 226 mn | 2.5% | USD 354 mn | 4.6% |
| 14 | Bangladesh | USD 195 mn | 2.1% | USD 292 mn | 4.1% |
| 15 | Turkey | USD 166 mn | 1.8% | USD 220 mn | 2.8% |
| 16 | Japan | USD 147 mn | 1.6% | USD 166 mn | 1.3% |
| 17 | Netherlands | USD 131 mn | 1.4% | USD 173 mn | 2.8% |
| 18 | Germany | USD 119 mn | 1.3% | USD 135 mn | 1.2% |
| 19 | France | USD 109 mn | 1.2% | USD 125 mn | 1.3% |
| 20 | Russia | USD 102 mn | 1.1% | USD 134 mn | 2.7% |
| 21 | South Africa | USD 95 mn | 1.1% | USD 126 mn | 2.9% |
| 22 | Argentina | USD 90 mn | 1.0% | USD 118 mn | 2.8% |
| 23 | Poland | USD 84 mn | 0.9% | USD 111 mn | 2.8% |
| 24 | Spain | USD 80 mn | 0.9% | USD 104 mn | 2.8% |
| 25 | Cuba | USD 76 mn | 0.8% | USD 86 mn | 1.2% |
| Rest of world | USD 958 mn | 10.6% | USD 1.3 bn | 3.2% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- ED&F Man
- Cargill
- Louis Dreyfus Company
- Tereos
- Südzucker
Group 2: Regional and specialist players
- American Crystal Sugar
- Sucden
- Raízen
- Balrampur Chini
- Nordzucker
- Pfeifer & Langen
- Cristal Union
- Dhampur Sugar Mills
- EID Parry
Group 3: Emerging and niche players
- Quality Liquid Feeds
- Westway Feed Products
- Triveni Engineering
- Dwarikesh Sugar Industries
- Bajaj Hindusthan Sugar
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the molasses market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 4.0% is calculated from the resulting values.
The market is divided by source, by end use, by form, by grade, by sales route. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the molasses market?
The global molasses market is estimated at USD 8.7 bn in 2025 and USD 9.0 bn in 2026.
How fast will the molasses market grow?
It is forecast to reach USD 13.4 bn by 2036, a compound annual growth rate of 4.0% from 2026, an increase of USD 4.3 bn.
Which country is the largest market for molasses?
India is the largest market by revenue at USD 1.5 bn in 2026, 17.0% of the global total. The three largest countries together hold 36.0%.
Which country is growing fastest?
Among the ten largest markets, Indonesia is growing fastest at 5.0% a year from 2026 to 2036.
Which molasses segment is largest?
In the by source split, Cane molasses is the largest segment with 78.0% of 2026 revenue.
Who are the leading molasses companies?
Global leaders include ED&F Man, Cargill, Louis Dreyfus Company, Tereos.
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