Market research

Molasses market in Vietnam

Release date: Mar 29, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Earlier Report Observations

The molasses market in Vietnam contracted from 598 thousand tons in 2018 to 510 thousand tons in 2021. Early in the period, market expansion led to difficulties in controlling sources and a proliferation of low-quality products, which increased demand for reliable and high-quality suppliers. Fluctuations in domestic sugar prices, including a mild recovery in the 2019/20 season and a decline in 2020, influenced molasses production as it is a by-product of the sugar industry.

In 2022, the market rebounded sharply to 598 thousand tons, a 17% increase from the previous year. This growth was primarily driven by a large surplus in the global sugar market during the 2022/23 season, where Asian sugar production rose by 5%, boosting the supply of molasses in Vietnam.

The market volume then fell by 23% to 460 thousand tons in 2023.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Vietnam
  1. 5.1.1. Annual dynamics of production in Vietnam in kind, 2018-2023, K t
  2. 5.1.2. Annual dynamics of production in Vietnam in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, K t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, K t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Exports
1. 6.1. Exports (Direct Data*)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, K t
    1. 6.1.2.1. Annual dynamics of product's exports from Vietnam in kind, 2018-2024, K t
    2. 6.1.2.2. Dynamics of product's exports in kind from Vietnam by countries, 2018-2024, K t
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.1.3. Exports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Vietnam in value, 2018-2024, K $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Vietnam by countries, 2018-2024, K $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's exports, $ US/kg
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Vietnam, 2018-2024, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's exports from Vietnam by countries, 2018-2024, $ US/kg
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, K t
    1. 6.2.2.1. Annual dynamics of product's exports from Vietnam in kind, 2018-2024, K t
    2. 6.2.2.2. Dynamics of product's exports in kind from Vietnam by countries, 2018-2024, K t
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.2.3. Exports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Vietnam in value, 2018-2024, K $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Vietnam by countries, 2018-2024, K $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's exports, $ US/kg
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Vietnam, 2018-2024, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's exports from Vietnam by countries, 2018-2024, $ US/kg
7. Imports
1. 7.1. Imports (Direct Data*)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, K t
    1. 7.1.2.1. Annual dynamics of product's imports to Vietnam in kind, 2018-2024, K t
    2. 7.1.2.2. Dynamics of product's imports in kind to Vietnam by countries, 2018-2024, K t
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.1.3. Imports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Vietnam in value, 2018-2024, K $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Vietnam by countries, 2018-2024, K $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's imports, $ US/kg
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Vietnam, 2018-2024, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's imports to Vietnam by countries, 2018-2024, $ US/kg
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, K t
    1. 7.2.2.1. Annual dynamics of product's imports to Vietnam in kind, 2018-2024, K t
    2. 7.2.2.2. Dynamics of product's imports in kind to Vietnam by countries, 2018-2024, K t
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.2.3. Imports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Vietnam in value, 2018-2024, K $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Vietnam by countries, 2018-2024, K $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's imports, $ US/kg
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Vietnam, 2018-2024, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's imports to Vietnam by countries, 2018-2024, $ US/kg
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production molasses in Vietnam

In kind, 2017-2020, K t

Between 2017 and 2020, Vietnam ranked 24th globally in molasses production, establishing itself as one of the world's leading producers during this period.

Top producers of molasses, 2017-2020

Source: SHEV.io

World map of production of molasses, 2017-2020

Source: SHEV.io

Molasses production in Vietnam continued its downward trend for the third consecutive year. In 2020, output reached 425.0 K t, marking a gradual decline of 7.6% from the previous year. Over the 2017-2020 period, production fell by 15%, which translates to an average annual decrease of 5.3%.

Annual dynamics of production in Vietnam in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(1.0%)	(7.1%)	(7.6%)	(5.3%)

Source: SHEV.io

Exports molasses from Vietnam

Exports in kind, K t

The export market for molasses from Vietnam displayed significant volatility from 2017 to 2020. Exports hit their lowest point in 2018 at 14.7 K t, with a sharp decline of 44.8% that year. However, they rebounded dramatically in 2019, surging by 390.3%. By 2020, exports had risen to 87.4 K t, representing a 21.4% increase compared to 2019. Overall, export volumes varied sixfold between the low in 2018 and the high in 2020.

Annual dynamics of product's exports from Vietnam in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(44.8%)	390.3%	21.4%	48.6%

Source: SHEV.io

From 2017 to 2020, the Philippines was the dominant buyer of Vietnamese molasses, accounting for 80.1% of total exports in volume. The remaining share was distributed among other countries.

Structure of product's exports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Vietnam in kind, 2017-2020

Source: SHEV.io

Exports in value, K $ US

The value of molasses exports from Vietnam showed an unstable pattern during the 2017-2020 timeframe. Exports reached their minimum in 2018 at 4 327 K $ US, with a significant decline of 51.5% that year. They then peaked in 2019 at 15 599 K $ US, reflecting a substantial increase of 260.5%. In 2020, exports dropped sharply to 7 277 K $ US, a decrease of 53.4% from the previous year. Overall, export values varied by a factor of 3.6 between the trough in 2018 and the peak in 2019.

Annual dynamics of product's exports from Vietnam in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(33.6%)	260.5%	(53.4%)	3.8%

Source: SHEV.io

Throughout 2017-2020, the Philippines remained the primary destination for Vietnamese molasses exports in value terms, capturing 79.9% of the total. The rest was spread across various smaller markets.

Structure of product's exports in value by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Vietnam in value, 2017-2020

Source: SHEV.io

Imports molasses to Vietnam

Imports in kind, K t

Vietnam's molasses imports grew for the second year in a row. In 2020, imports amounted to 207.7 K t, showing a strong increase of 12.9% from the prior year. However, over the full 2017-2020 period, imports decreased by 15.3%, averaging an annual decline of 5.4%. The lowest volume was recorded in 2018 at 116.8 K t, with a notable drop of 52.3% that year, followed by a recovery in 2019 with a 57.4% increase.

Annual dynamics of product's imports to Vietnam in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(52.3%)	57.4%	12.9%	(5.4%)

Source: SHEV.io

From 2017 to 2020, Cambodia, Russia, and Indonesia were the leading sources of molasses imports to Vietnam in volume terms. Cambodia accounted for 29.7%, Russia for 22.4%, and Indonesia for 17.1% of total imports, together making up 69.2% of the flows.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Vietnam in kind, 2017-2020

Source: SHEV.io

Imports in value, K $ US

Vietnam's molasses import value continued to rise for the second consecutive year. In 2020, imports reached 48 346 K $ US, representing a significant 62.9% increase compared to 2019. Over the 2017-2020 period, imports grew by 27%, with an average annual growth rate of 8.3%. The minimum value was recorded in 2018 at 18 447 K $ US, which saw a decline of 51.5% that year.

Annual dynamics of product's imports to Vietnam in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(51.5%)	60.9%	62.9%	8.3%

Source: SHEV.io

Between 2017 and 2020, Cambodia, Indonesia, and Russia were the main suppliers of molasses to Vietnam in value terms. Cambodia contributed 30.5%, Indonesia 18.6%, and Russia 16.4% of total imports, collectively accounting for 65.4% of the value.

Structure of product's imports in value by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Vietnam in value, 2017-2020

Source: SHEV.io