Molasses production in South Africa has experienced fluctuating trends over the past years. In 2023, the production stood at approximately 914.12 thousand metric tons. Between 2013 and 2023, the market saw significant variations, including notable drops in 2015 and subsequent recoveries in the following years. Specifically, the years 2022 and 2023 saw modest year-on-year increases of just under 1%. The compound annual growth rate (CAGR) over the past five years (2018-2023) was relatively steady at 0.31%, indicating a slow but consistent growth trend.
Future forecasts indicate continued, albeit modest, growth in molasses production. Predictions for 2028 place the production around 957.47 thousand metric tons. The forecasted 5-year CAGR stands at 0.73%, reflecting a gradual but stable increase in production volumes. Over the next five years, an overall growth rate of 3.71% is anticipated.
Future trends to watch for:
- Weather patterns and their impact on sugarcane yield, a primary source of molasses.
- Technological advancements in production efficiency.
- Market demand fluctuations influenced by related industries such as biofuel and animal feed.
