Cassava Starch Market Share, Amazing Trends, Growth Drivers, Revenue, Demand, Challenges, Key Players, CAGR Status and Competitive Analysis 2024-2033: SPER Market Research
Market Overview and Growth Insights: Cassava starch is obtained from the cassava root, an edible tuber crop native to South America that is grown all over the world in tropical and subtropical locations. Cassava starch typically contains more than 80% starch, making it a highly concentrated form of starch that is commonly used as a culinary component or additive. Cassava starch is distinguished by its fine texture, neutral flavor and odor, good thickening and gelling properties, high viscosity, and gluten-free status. Cassava starch remains effective as a thickening agent under high temperatures and acidic environments, making it ideal for various food processing uses.
According to SPER market research, ‘Global Cassava Starch Market Size- By Type, By End-Use – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Cassava Starch Market is predicted to reach 106.85 billion by 2033 with a CAGR of 6.95%.
Drivers: The worldwide cassava starch market is rapidly changing and expanding due to its advantages in terms of product offers as well as flavor and sensory effects in food. Consumers throughout the world are becoming more educated and health-conscious, driving up demand for products that aim to improve health, lengthen longevity, and prevent the formation of chronic diseases. Foods fortified with nutritious and disease-preventive ingredients are increasing the global nutritional food market. Consumers’ changing food consumption habits and evolving taste preferences have driven producers to bring and innovate new functional foods and beverages into the worldwide market.
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Restraints:
- Expensive raw material costs – The global economic recovery has led to an increase in the cost of cassava raw materials, which is a major obstacle to the growth of the cassava starch market. The industry’s potential for market expansion and investment prospects may be limited by this price increase, which also limits profit margins and operational sustainability.
- Pest and disease outbreaks are becoming more common – Pest and disease infestations, such as cassava mosaic disease and cassava brown streak disease, represent a significant danger to cassava productivity and quality. Without proper management techniques, these difficulties can substantially impede the cassava starch market, resulting in lower production and profitability for farmers and processors while worsening food security concerns in affected regions.
Impact of COVID-19: The production and sales of cassava starch expanded during the COVID-19 pandemic, and the food processing industry’s need for naturally derived cassava starch ingredients increased as consumers’ interest in ready-to-cook products and ingredients for home cooking increased. Furthermore, the pandemic has raised demand for clean-label products like cassava starch.
Key Players: The Asia Pacific Cassava Starch Market is predicted to hold the largest market share, owing to the high production and utilization of cassava in the region. Some significant market players are Tate & Lyle, Cargill, Inc, Ingredion, AGRANA Starch, The Dutch Agricultural Development & Trading Company BV, Visco Starch, and others.
Global Cassava Starch Market Segmentation:
By Type: Based on the Type, Global Cassava Starch Market is segmented as; Native Starch, Modified Starch, and Sweeteners.
By End-Use: Based on the End-Use, Global Cassava Starch Market is segmented as; Food & Beverages, Paper and Board, and Others.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
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