Wilmington, Delaware, June 25, 2024 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, “Organic Cassava Starch Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by End-use Industry: Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global organic cassava starch market generated $3 billion in 2022, and is anticipated to generate $4.4 billion by 2032, rising at a CAGR of 3.9% from 2023 to 2032.
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Prime Determinants of Growth
The growing consumer awareness & preferences for organic & natural products, versatile applications of cassava starch, and the rising demand for health-promoting starch-based ingredients are the factors expected to drive the growth of the global organic cassava starch market in the forecast period from 2023 to 2032. However, higher pest & disease susceptibility and high costs associated with certification may restrict market growth in the coming future. Contrarily, the continued innovation & investment in cassava starch processing and the potential use of cassava starch in producing biodegradable materials are expected to offer remunerative opportunities for the organic cassava starch market expansion during the forecast period.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $3 billion |
| Market Size in 2032 | $4.4 billion |
| CAGR | 3.9% |
| No. of Pages in Report | 320 |
| Segments Covered | Type, End-use Industry, and Region |
| Drivers | Increasing demand for starch-based products |
| Versatile properties of cassava starch in various application | |
| Rising consumer preference for organic & natural products | |
| Opportunities | Continued innovation and investment in cassava starch processing |
| Shift towards healthier & sustainable lifestyles | |
| Restraints | High certification costs and limited availability |
Type: Native Sub-segment to Hold Major Share by 2032
The native sub-segment accounted for the largest global organic cassava starch market share of 61.1% in 2022 and is expected to continue to hold major share by 2032. The sub-segment's growth can be attributed to its natural and organic properties, meeting consumer demand for transparency and plant-based nutrition. In addition, certified as non-GMO, native cassava starch assures clean and unmodified dietary options, with a meticulous production process ensuring food safety and quality.
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End-use Industry: Food Processing Sub-segment to Flourish Immensely by 2032
The food processing sub-segment held the largest market share of 38.9% in 2022 and is predicted to continue to hold major share during the forecast period. This is majorly because of the use of organic cassava starch as a gluten-free alternative in products like modified cassava flour (mocaf). Enhancing cassava-based products with microalgae boosts their nutritional profile, while its versatility allows the creation of diverse gluten-free foods, such as noodles, sticks, and cookies.
Region: Asia-Pacific Market to be the Most Dominant During the Forecast Period
The Asia-Pacific organic cassava starch market accounted for the largest share of 37.8% in 2022 and is predicted to continue to dominate and grow at the highest CAGR of 4.4% during the forecast period. This growth can be attributed to favorable climates and soil conditions, ensuring a stable supply. The well-developed cassava processing industry in countries like Thailand and Vietnam enables diverse value-added products. In addition, competitive production costs and robust government support further drive market growth.
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Leading Players in the Organic Cassava Starch Market:
- Tate & Lyle
- Ingredion
- Cargill, Incorporated
- Visco Starch
- Psaltry International Company Limited
- Global Sweeteners Holdings Ltd.
- Ekta International
- Matna Foods Ltd.
- Chorchaiwat Industry Co. Ltd.
- ADM
The report provides a detailed analysis of the key players of the global organic cassava starch market. These players are employing various strategies including launching new products, entering collaborations, expanding operations, forming joint ventures, and signing agreements, all aimed at boosting their market share and securing their competitive position across different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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