Molasses, or black treacle (for human consumption; known as molasses otherwise), are a viscous product resulting from refining sugarcane or sugar beets into sugar. Molasses varies by the amount of sugar, method of extraction, and age of the plant. Sugarcane molasses is agreeable in taste and aroma and is primarily used for sweetening and flavoring foods in the US, Canada, and elsewhere, while sugar beet molasses is foul￾smelling and unpalatable. Hence, it is mainly used as an animal feed additive in Europe and Russia, where it is chiefly produced. For calculating the market size, the report includes the retail sales of molasses food and beverage as well as animal feed applications.

Pet care products include a wide range of products that are a necessity for pets. Pet keepers purchase pet care products online and through offline distribution channels.

农林牧渔行业：9月上市猪企出栏量同比增加环比下降，售价环比走低－生猪行业动态跟踪报告（月度）

农业行业：双11大促开启，关注宠物国产品牌表现

Cannabis is a flowering plant of different species, such as cannabis sativa, cannabis indica, and cannabis ruderalis. There are a variety of cannabis plants, of which marijuana and hemp are the two most prominent ones. Cannabis contains two cannabinoids, namely, THC and CBD.

2026H1猪价延续低迷，行业延续低利润。由于2024年能繁母猪存栏量逐步升高，2025年生猪供应量逐步增加，2025 年生猪价格从年初的16元/kg至四季度跌至11元/kg以下。往后看，2025年前三季度能繁母猪存栏量仍然充足且稳定，我们预 期2026年上半年猪价持续低迷。