United Kingdom: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in the UK

The UK non-cane molasses market rose to $X in 2022, surging by 2.2% against the previous year. In general, consumption, however, recorded a mild slump. Non-cane molasses consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Non-Cane Molasses Production in the UK

In value terms, non-cane molasses production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a mild shrinkage. The pace of growth appeared the most rapid in 2018 when the production volume increased by 50%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Non-Cane Molasses Exports

Exports from the UK

In 2022, approx. X tons of molasses (excluding cane molasses) were exported from the UK; dropping by -61.8% on the year before. Over the period under review, exports recorded a significant decline. The pace of growth was the most pronounced in 2020 with an increase of 145% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-cane molasses exports reduced dramatically to $X in 2022. In general, exports faced a sharp reduction. The growth pace was the most rapid in 2020 when exports increased by 52% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ireland (X tons), Canada (X tons) and Australia (X tons) were the main destinations of non-cane molasses exports from the UK, with a combined 57% share of total exports. Israel, the United States, Belgium and Slovenia lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the biggest increases were recorded for Slovenia (with a CAGR of +67.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Australia ($X) and the United States ($X) were the largest markets for non-cane molasses exported from the UK worldwide, with a combined 66% share of total exports. Slovenia, Israel, Ireland and Belgium lagged somewhat behind, together comprising a further 14%.

Among the main countries of destination, Slovenia, with a CAGR of +61.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average non-cane molasses export price stood at $X per ton in 2022, with an increase of 55% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% 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 export price increased by +144.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 58% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Ireland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+32.2%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Cane Molasses Imports

Imports into the UK

Non-cane molasses imports into the UK dropped to X tons in 2022, which is down by -7.4% compared with 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 115% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, non-cane molasses imports soared to $X in 2022. Overall, imports, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2015 when imports increased by 77% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Poland (X tons) constituted the largest non-cane molasses supplier to the UK, with a 52% share of total imports. Moreover, non-cane molasses imports from Poland exceeded the figures recorded by the second-largest supplier, Egypt (X tons), twofold. Latvia (X tons) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland stood at +113.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+1.6% per year) and Latvia (+21.9% per year).

In value terms, Poland ($X), Egypt ($X) and Latvia ($X) constituted the largest non-cane molasses suppliers to the UK, with a combined 84% share of total imports.

Poland, with a CAGR of +121.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average non-cane molasses import price amounted to $X per ton, surging by 34% against the previous year. Overall, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.1% 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 +110.2% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+32.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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