Cassava Starch Market Segmented By Modified, Native Product Type in Organic and Conventional Form Used in Pharmaceuticals, Animal Feed, Paper, Textile and Adhesives, Processed Food, Functional Food
Industry: Food and Beverages
Published Date: May-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 251
Report ID: PMRREP16786
The global cassava starch market expanded at 5.5% CAGR between 2018 and 2022 and ended up with a valuation of US$ 7,515.3 million in 2023. As per this study by Persistence Market Research, the sales of cassava starch across the world are expected to increase at 5.2% CAGR to reach a market size of US$ 12,476.8 million by the end of 2033.
Cassava starch is obtained from the cassava root, which contains high amount of nutrients such as carbohydrates, fibers, vitamins, and others. Cassava is actually a root vegetable primarily grown in South America and Africa regions. Cassava starch naturally occurs in the cassava root, and is extracted for use in different industries. Cassava starch contains antioxidants, has fresh taste and high carbohydrate content, prevents infections, and offers other health beneficial properties. Cassava starch is highly utilized in the food and beverages industry for different purposes. Along with that, it is also used in animal feed, pharmaceuticals, cosmetics and personal care, and other industries.
Cassava starch is predominantly used by food manufacturers to produce a variety of food products including bakery, dairy, meat, cereal & snacks, ready-to-eat meals, functional foods, and others. For instance, cassava starch is among the prime ingredients for making bread and biscuits as well as for increasing the volume and crispness of baking products. Cassava starch is utilized as a native as well as modified starch. Since the demand for chemical-free food products is growing, growth of native starch products is increasing, which is beneficial for the cassava starch market. The growth of cassava starch market is also owing to its gluten-free properties, as the demand for gluten-free food products is growing.
| Report Attribute | Details |
|---|---|
|
Cassava Starch Market Size (2023E) |
US$ 7,515.3 Million |
|
Projected Market Value (2033F) |
US$ 12,476.8 Million |
|
Global Market Growth Rate (2023 to 2033) |
5.2% CAGR |
|
Historical Growth Rate (2018 to 2022) |
5.5% CAGR |
|
Revenue Share of Top 4 Countries (2022E) |
58% |
“Growing Textile Industry to Fuel the Growth of the Cassava Starch Market”
In the textile industry, starches are used for different operations such as warp sizing, cloth finishing, printing, and for other uses. Cassava starch is one of the major ingredients utilized for the warp sizing application. The textile industry is witnessing significant growth, owing to its offering of customized solutions across the world. Textile applications including warp sizing and cloth finishing, are required to further provide viable textile solutions to the consumers. Textile manufacturers are also considering the use of an effective starch solution such as cassava starch, in varied textile operations. Furthermore, cassava starch is also utilized for cloth printing and placing a certain design on the smooth surface of fabric. Since the textile industry is continuously achieving growth in the global market, and demanding a viable starch solution, the demand for cassava starch will also increase.
“Growth in the Consumption of Functional Foods Escalating the Demand for Cassava Starch”
Functional foods contain the perfect nutritional balance of health beneficial properties. Consumers are opting for functional foods in order to maintain a healthy lifestyle. Functional foods are believed to create a positive impact on health and reduce the risk of certain diseases. Cassava starch contains sufficient amount of dietary fiber and also has a low glycemic index. Large percentage of the population is suffering from health issues such as obesity and high blood sugar, due to which, consumers are adopting functional foods. High consumption of fat and sugar is responsible for obesity and related health problems. As cassava starch contains high fiber content, consumers are preferring it, thus, driving the growth of the cassava starch market.
“Utilization of Cassava Starch in Snacks & Cereals Accelerating the Growth of the Cassava Starch Market”
Cassava starch is among the vital ingredients used in the food and beverages industry. Bakery, dairy, snacks, and others are prime food products, where cassava starch is utilized. Snack and cereals are one of the major food products consumed. Food manufacturers are utilizing cassava starch for producing snacks and cereal products in order to enhance the quality of food products. Cassava starch is used as a texturizing and water binding agent, and also helps to achieve the desired viscosity in snacks. The high viscosity, binding, and water holding properties of cassava starch make it suitable for use in making different snacks and cereal products. Since the demand for hot extruded snacks, pretzels, fried foods, and ready-to-eat cereals is growing, the cassava starch market will be benefitted from this growth.
What are the Hindrances to the Adoption of Cassava Starch?
“Availability of Many Substitutes Expected to Hamper the Market Growth”
The availability of large number of substitutes such as corn starch, potato starch, rice starch, wheat starch and many other starches are hampering the growth of the global cassava starch market growth. All other available substitute holds good share in the global starch market. With the increasing awareness about nutritional and health benefits of cassava starch, it will register healthy growth in the global starch market.
What Makes Latin America a Lucrative Market for Manufacturers of Cassava Starch?
“Prominence of Cassava Starch in Hispanic Countries”
Brazil accounts for almost 75% of the market share and an estimated value of US$ 530.8 million in 2023 and a value based CAGR of 5.1%. This high rate of growth is primarily due to cassava being a native of Latin America. The presence of cassava in the region has resulted in adoption and integration of the same in various foods. The country is ramping up production and is counted among the leading producers of cassava in the world.
What is the Demand Outlook for Cassava Starch in the United States?
“Strong Presence of Prominent Market Players in the Country”
Demand for cassava starch in the United States is expected to reach US$ 85.8 million in 2022 and occupy 92.6% of the North American market.
Key players have established a significant presence in the United States due to the growing demand for cassava starch across various end-use sectors. These sectors include food and beverage personal care and cosmetics, medicine formulation among others. Since cassava flour finds significant utilization in the these sectors, it is likely to affect the demand of the same in western markets with increasing awareness about the same.
What Type of Cassava Starch is Being Widely Utilized?
“Food and Beverage Industry Contributing to Market Growth”
Based on the type, the native cassava flour is estimated to reach US$ 7,613.5 million in 2033 and currently (2023) holds a market share of approximately 62%. The modified cassava starch is expected to register a faster growth based on its value CAGR of 5.5% but the market is expected to be led by native type of cassava flour.
Which Sector Utilizes the Maximum Amount of Cassava Starch?
“Use of Cassava Starch in the Food and Beverage Sector to Dominate the Market in the Forecast Duration”
The global cassava starch market is categorized based on the various industries it finds use in including food and beverage, pharmaceutical, cosmetics & personal care, paper textile & adhesives among others. Among these the market is dominated by the food and beverage, followed by the paper textile & adhesives industry with a market share of around 42% and 38% respectively.
Global cassava starch market comprises of a large number of regional players. An estimated share of 30-40% is due to North American and Western European countries. Manufacturers are focusing on integrating latest technologies in their production process in order to optimize yields. This is in addition to modernizing supply chain and logistics in order to maximize profits.
| Attribute | Details |
|---|---|
|
Forecast Period |
2023 to 2033 |
|
Historical Data Available for |
2018 to 2022 |
|
Market Analysis |
US$ Million for Value |
|
Key Regions Covered |
|
|
Key Countries Covered |
|
|
Key Market Segments Covered |
|
|
Key Companies Profiled |
|
|
Report Coverage |
|
|
Customization & Pricing |
Available upon Request |
By Type:
By Nature:
By Application:
By Region:
To know more about delivery timeline for this report Contact Sales
The global cassava starch market is valued at US$ 7,515.3 million in 2023.
Consumption of cassava starch increased at a CAGR of 5.5% from 2018 to 2022.
Worldwide demand for cassava starch is estimated to reach US$ 12,476.8 million by 2033.
Global demand for cassava starch is projected to increase at 5.2% CAGR from 2023 to 2033.
Meelunie B.V., Royal Ingredients Group, Euroduna Food Ingredients GmbH collectively account for 50-60% market share.
The market for cassava starch in East Asia is forecast to reach US$ 2,737.2 million by 2033.
Thailand, Indonesia, China, Brazil lead as far as the consumption of cassava starch is concerned.
