Cassava starch, also known as tapioca starch, can be easily extracted from the roots of cassava as compared to other starches. It incorporates a simple process which can be performed on a small-scale with limited capital. In addition to this, cassava starch has high amounts of calcium, iron, folate, manganese and carbohydrates, whereas low amounts of saturated fat and sodium. Some of the physical and chemical properties of cassava starch include high level of purity, neutral taste, high paste viscosity, high paste clarity and high freeze-thaw stability which are advantageous to many industries. A new research report titled “Cassava Starch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023” by IMARC Group estimates that the market reached a volume of nearly 6.3 million tons in 2017. The report further anticipates the market to cross 7 million tons, registering a CAGR of approximately 3% by 2023.
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Market Drivers/Constraints:
- Cassava starch is known for its hydrating, thickening, water absorption and texturising properties and thus, it is extensively used in the processing of bakery & pastry products, noodles, soups, yogurts, ice creams, soft drinks, etc. This represents a major factor for the growth in demand of cassava starch.
- In the adhesive industry, cassava starch is highly preferred as it possesses characteristics which help in improving the appearance, strength and printing properties of paper.
- Cassava starch offers numerous health benefits such as it reduces cholesterol levels, maintains blood sugar levels, prevents constipation, aids digestion and provides satiety. This coupled with the growing health consciousness among the consumers has further augmented the global demand for cassava starch.
- However, the price of cassava starch is currently higher than other types of starches, such as corn starch, which is limiting its consumption. This acts as a major road block for the growth of the market.
End-Use Insights:
Based on end-use, sweeteners exhibit a clear dominance in the market, accounting for the majority of the global share. This can be attributed to the thickening and texturising properties of cassava starch. It is followed by MSG/lysine, food industries, paper industries, modified starch and textile.
Regional Insights:
On a geographical front, Asia-Pacific enjoys a leading position in the global cassava starch market owing to the socio-economic conditions of the region. Within Asia-Pacific, Thailand and Indonesia currently represents the biggest markets. Asia-Pacific is followed by Latin America and others.
Competitive Landscape:
The market is surrounded by the presence of manufacturers with different capacities who compete in terms of prices and quality. Some of the leading players operating in the market are:
- SPAC Starch Product India Limited
- Vaighai Agro Products
- Matna Food Ltd.
- Thai German Processing Co. Ltd.
- Psaltry International Limited
- TAPIOCA VIETNAM Company
- Lentus Foods Ltd.
- Keng Seng Group of Companies
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