Cassava Market Growth Regional Analysis, Key Players, Opportunities and Forecast to 2027
Market Overview
Cassava is a woody
shrub, which belongs to euphorbiaceous family. It is mostly cultivated in
tropical and subtropical regions of the world. Roots of cassava are edible and
major source of gluten-free carbohydrates. Therefore, it prefers in the
manufacturing of gluten-free products. The powder form of cassava is called tapioca.
Additionally, it has a neutral taste and is used in food and beverage products.
Furthermore, it is also used in commercial industries like paper, adhesive,
textile, and others. Increased awareness regarding health benefits of cassava
is considered to be the major driving factor in the growth of global cassava
market.
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Market Forecast
Cassava has a wide
range product applicability, which makes them an important ingredient to be
used in food and commercial products industry. It is used as a substitute for
sucrose in the food industry. It is a rich source of fiber and carbohydrate.
Starch extracted from cassava has commercial, industrial applications, which
are used in the textile, adhesive, paper, and other industries. Furthermore,
the demand for a substitute of gluten-free carbohydrate food, increasing health
conscious population and large-scale application in commercial industries is
driving the demand for cassava.
All these factors are
expected to contribute to the estimated CAGR of 3.0% of cassava market during
the forecast period 2017-2023.
Downstream Analysis
Cassava market is
segmented on the basis of form, which includes animal feed, flour, chips,
pellets, pearls, and others. Among all, the chips, pellets, and pearls forms
dominate the market owing to a wide range of application in the animal feed and
food products.
The global cassava
market is segmented on the basis of application, which includes food and
beverage, industrial, animal feed, and others. Among all, application in the
food industry holds the significant share of the global market. It is used in
making gluten-free flour owing to high carbohydrate content, which is
beneficial for gluten intolerance patients. However, the demand from commercial
industries is projected to rise during the forecast period.
Cassava market has
been segmented on the basis of product type, which comprises of conventional
and organic. Conventional cassava product holds a high market share owing to
high production capacity. However, organic cassava is expected to grow in this
segment. Consumer shift towards organic products is considered to be the major
driving factor.
Competitive Analysis
The major players in
the Cassava Market
- American Key Food Products LLC (U.S.)
- Cargill (U.S.)
- Ingredion Inc. (U.S.)
- Tate & Lyle (U.K.)
- Venus Starch Suppliers (India)
- Grain Millers, Inc. (U.S.)
- Parchem fine & specialty chemicals (U.S.)
The global cassava
market is rapidly growing owing to increasing demand from most of the
countries, and intensifying market opportunities. Moreover, the increasing
focus on R&D is projected to boost the cassava market over the forecast
period 2017-2023.
Regional Analysis
The global cassava
market is segmented into North America, Europe, Asia Pacific, and rest of the
world (RoW). Asia Pacific region is dominating the cassava market followed by
North America. In Asia Pacific region, China, Thailand, and Indonesia are the
primary consumers of cassava. Moreover, North America region is expected to
grow exponentially owing to high demand for rich gluten-free carbohydrate food
in the population during the forecast period 2017-2023.
Market Segmentation
Cassava market is
segmented on the basis of form, applications, and product types
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