According to a new study by IMARC Group, titled “Cassava Starch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global cassava starch market reached a volume of 8 Million Tons in 2018, registering a CAGR of around 5% during 2011-2018. Cassava starch, also known as tapioca starch, refers to the flour produced from cassava roots. Its production requires a simple process which can be performed on a small-scale with limited capital. Characterized by a neutral taste, it is a gluten-free and non-allergenic product which comprises low amounts of saturated fat and sodium. Besides this, cassava starch also contains amylopectin and amylose, and is rich in calcium, iron, folate, manganese and carbohydrates. The presence of these nutrients, along with its properties like high-paste clarity and freeze-thaw stability, has created a high demand for cassava starch across various sectors.
Market Trends:
As cassava starch is one of the most abundant sources of carbohydrates, it is widely used as a thickening agent in bakery and pastry products, yogurt, soups, noodles, ice creams, and soft drinks. Apart from this, it is employed in the paper industry owing to its water holding property and stable viscosity. It is also utilized for sizing, finishing and printing fabrics in the textile industry. Further, due to the numerous health benefits offered by cassava starch, like maintaining blood sugar levels, reducing cholesterol and preventing constipation, health-conscious consumers are preferring cassava starch over its substitutes. However, the price of cassava starch is higher in comparison with the alternatives, such as corn starch, which hinders the growth of the market. By 2024, the market volume is anticipated to cross 10 Million Tons, expanding at a CAGR of around 4% during 2019-2024.
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Global Cassava Starch Market Summary:
Market by End-Use
1. Sweeteners
2. MSG/Lysine
3. Food Industries
4. Paper Industries
5. Modified Starch
6. Sago Pearl
7. Textile
8. Others
On the basis of end-uses, the market has been categorized into sweeteners, MSG/lysine, food industries, paper industries, modified starch, sago pearl and textile. At present, cassava starch is majorly utilized in the production of sweeteners owing to its neutral taste and thickening property.
Performance of Key Regions
1. Production
1.1 Asia
1.2 Africa
1.3 Latin America
1.4 Others
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2. Consumption
2.1 China
2.2 Indonesia
2.3 Malaysia
2.4 Japan
2.5 Philippines
2.6 Others
On the geographical front, Asia Pacific represents the largest producer of cassava starch and accounts for the majority of the total market share. Other major markets include Africa, Latin America and Others.
Competitive Landscape
The competitive landscape of the market has been examined with the profiles of major players operating in the market. Some of the leading players are TCS Tapioca, Eiamheng Tapioca, Sunrise International, PT Buda Starch & Sweetener and Sharp SPAC Tapioca.
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