Northern America: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in Northern America

The North American non-cane molasses market dropped to $X in 2022, with a decrease of -2.8% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Non-Cane Molasses Production in Northern America

In value terms, non-cane molasses production fell slightly to $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.4% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 31%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Non-Cane Molasses Exports

Exports in Northern America

In 2022, overseas shipments of molasses (excluding cane molasses) increased by 19% to X tons, rising for the third consecutive year after three years of decline. In general, exports, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 61% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, non-cane molasses exports soared to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 101%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States represented the major exporter of molasses (excluding cane molasses) in Northern America, with the volume of exports accounting for X tons, which was approx. 68% of total exports in 2022. It was distantly followed by Canada (X tons), mixing up a 32% share of total exports.

Exports from the United States decreased at an average annual rate of -12.4% from 2012 to 2022. Canada experienced a relatively flat trend pattern. From 2012 to 2022, the share of Canada increased by +21 percentage points.

In value terms, the United States ($X) remains the largest non-cane molasses supplier in Northern America, comprising 93% of total exports. The second position in the ranking was taken by Canada ($X), with a 6.6% share of total exports.

In the United States, non-cane molasses exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, with an increase of 3.5% against the previous year. Over the period under review, the export price showed buoyant growth. The most prominent rate of growth was recorded in 2018 when the export price increased by 112% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+14.8%).

Non-Cane Molasses Imports

Imports in Northern America

In 2022, approx. X tons of molasses (excluding cane molasses) were imported in Northern America; picking up by 4.8% on the year before. Overall, imports, however, saw a pronounced curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 29% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, non-cane molasses imports surged to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 51%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Canada represented the main importer of molasses (excluding cane molasses) in Northern America, with the volume of imports resulting at X tons, which was approx. 77% of total imports in 2022. It was distantly followed by the United States (X tons), making up a 23% share of total imports.

Canada was also the fastest-growing in terms of the molasses (excluding cane molasses) imports, with a CAGR of -1.1% from 2012 to 2022. The United States (-4.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Canada increased by +7.2 percentage points.

In value terms, Canada ($X) and the United States ($X) constituted the countries with the highest levels of imports in 2022.

Among the main importing countries, Canada, with a CAGR of +1.5%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, picking up by 12% against the previous year. Import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-cane molasses import price increased by +78.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 59%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.6%).

Source: IndexBox Platform

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