Global Cassava Starch Market Size on a Growth Spree: Anticipated CAGR of 9.85% to Drive Beyond USD 5.5 Billion by 2030

New York, NY, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Cassava Starch Market By Type (Modified And Native), By Form (Liquid And Dry), By Nature (Conventional And Organic), By Application (Food & Beverages, Pharmaceuticals, Animal Feed, Cosmetics, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Cassava Starch Market size & share in terms of revenue was valued at USD 4.2 billion in 2022 and it is expected to surpass around USD 5.5 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 9.85% during the forecast period 2023 to 2030.”

What is Cassava Starch? How big is the Cassava Starch Industry?

Cassava Starch Report Coverage & Overview:

Cassava starch, also referred to as tapioca starch or tapioca flour, is a fine, powdery substance derived from the cassava plant's root (Manihot esculenta). This tropical root crop is extensively cultivated across regions like Africa, Asia, and South America. The process involves grinding or grating cassava roots, followed by separating the starch from fibers and other components. Recognized for its thickening and binding capabilities, cassava starch is a common element in diverse food items. Its gluten-free nature caters to those with gluten intolerance or celiac disease. With a neutral taste and odor, it adapts well to various culinary applications. It's often used to thicken soups, sauces, and gravies, as well as to bind baked goods like bread, cakes, and cookies.

Beyond its culinary applications, cassava starch plays a crucial role in producing various non-food goods. Industries such as paper, textiles, pharmaceuticals, adhesives, and cosmetics utilize it as a stabilizer, binder, or filler. As a source of essential carbohydrates offering energy, it falls short in terms of notable protein, vitamins, and minerals. Consequently, it's frequently combined with other ingredients to form a nutritionally complete diet. Recent years have witnessed substantial growth in the cassava starch market, propelled by factors such as the rising demand for convenient foods, the surge in gluten-free preferences, and the expanding industrial utilization of cassava starch.

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Global Cassava Starch Market: Growth Dynamics

The swift adoption of cassava starch as a prominent element in diets suitable for individuals with celiac disease and diabetes is propelling the growth of the market.

The cassava starch sector is experiencing rapid expansion due to its growing use as a viable sweetener alternative among diabetic consumers. This is attributed to its low glycemic index, which prevents rapid spikes in blood sugar levels. For individuals closely managing their blood sugar, cassava starch is a preferred ingredient. Moreover, it serves as a gluten-free substitute for conventional wheat-based flour, making it particularly valuable for individuals with celiac disease, a condition characterized by heightened sensitivity to gluten. As more individuals become cognizant of the health benefits associated with cassava starch, the demand rises, especially as it becomes a vital component in diets tailored for celiac disease and diabetes, ultimately bolstering market growth. Additionally, the upward trajectory of gluten-free and health-conscious dietary trends is further fueling the expansion of the cassava starch market. This shift is driving the increased integration of the product in the creation of a wide array of culinary items such as baked goods, sauces, soups, and noodles. Consequently, this trend is anticipated to be a driving force for market growth in the forecast period.

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Report Scope

Cassava Starch Market: Segmentation Analysis

The global cassava starch industry is segmented based on type, form, nature, application, and region.

Based on the type, The global market is divided into two categories: modified and native cassava starch. Forecasts indicate that the modified cassava starch segment is poised to experience the most rapid growth throughout the projected period.

Modified cassava starch frequently displays enhanced stability when subjected to various processing conditions, including elevated temperatures, fluctuations in pH levels, and mechanical forces. This heightened stability widens its scope of applications across both the food and non-food industries. Furthermore, it boasts improved thickening and gelling attributes compared to native cassava starch. It forms more resilient gels, a quality highly sought after in food items like sauces, puddings, and bakery fillings. The augmented viscosity and gel strength contribute significantly to upgraded texture and stability.

Additionally, modified cassava starch can exhibit superior film-forming properties, rendering it suitable for applications in packaging materials, edible coatings, and films. These films serve as barriers, enhancing moisture retention and extending shelf life for an array of food and non-food uses. Consequently, the multifaceted properties of cassava starch in both food and non-food applications are anticipated to be the driving forces behind the growth of this segment.

Based on the form, the global cassava starch industry is divided into liquid and dry.

Based on nature, the global cassava starch market is bifurcated into conventional and organic.

Based on the application, The global cassava starch industry is categorized into several segments, including food & beverages, pharmaceuticals, animal feed, cosmetics, and others. Among these, the food & beverages segment is anticipated to hold the reins of the market throughout the forecast period.

Within the food & beverages sector, cassava starch finds application across a diverse range of products such as bakery items, snacks & confectionery, frozen foods, and more. In the realm of bakery products, it assumes roles in bread, cakes, cookies, pastries, and muffins. Its functions encompass acting as a thickening agent, enhancing texture, augmenting moisture retention, and contributing to the tenderness and shelf life of baked goods. Additionally, it proves valuable in gluten-free baking, providing an alternative to wheat flour for those with gluten sensitivity.

Furthermore, within the domain of snacks and confectionery, cassava starch plays a pivotal role due to its capacity for enhancing texture and binding. It finds utility in the production of snacks like chips, extruded snacks, and puffed snacks, offering attributes of crispness and structural integrity. In the arena of confectionery products, cassava starch serves as a bulking agent, binder, and regulator of moisture content.

The escalating incorporation of cassava starch into diverse food & beverage products is anticipated to propel the growth of this segment during the projected period.

The global Cassava Starch market is segmented as follows:

By Type

• Modified
• Native

By Form

• Liquid
• Dry

By Nature

• Conventional
• Organic

By Application

• Food & Beverages
• Pharmaceuticals
• Animal Feed
• Cosmetics
• Others

Browse the full “Cassava Starch Market By Type (Modified And Native), By Form (Liquid And Dry), By Nature (Conventional And Organic), By Application (Food & Beverages, Pharmaceuticals, Animal Feed, Cosmetics, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/cassava-starch-market

Competitive Landscape

Some of the main competitors dominating the global Cassava Starch market include - 

• ADM
• Tate & Lyle
• CargillIncorporated
• Ingredion
• AGRANA Beteiligungs-AG
• Visco Starch
• Global Sweeteners Holdings Ltd
• Psaltry International Company Limited
• Ekta International
• Chorchaiwat Industry Co. Ltd.
• Matna Foods Ltd.
• KengSeng group of company
• SPAC Starch Products (India) Ltd
• Viet Delta

Key Insights from Primary Research:

• As per the analysis shared by our research analyst, the global cassava starch market is estimated to grow annually at a CAGR of around 5.5% over the forecast period (2023-2030).
• In terms of revenue, the global cassava starch market size was valued at around USD 4.2 billion in 2022 and is projected to reach USD 6.4 billion, by 2030.
• The increasing trend of gluten-free and clean labels is expected to drive the growth of the global cassava starch market during the forecast period.
• Based on the type, the modified cassava starch segment is expected to grow at the fastest rate over the forecast period.
• Based on the application, the food & beverages segment is expected to dominate the market over the forecast period.
• Based on region, the Asia Pacific is expected to dominate the market over the forecast period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Cassava Starch industry?
• What are the main driving factors propelling the Cassava Starch Market forward?
• What are the leading companies in the Cassava Starch Industry?
• What segments does the Cassava Starch Market cover?
• How can I receive a free copy of the Cassava Starch Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Type, By Form, By Nature, By Application, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The Asia Pacific region is poised to assert its dominance over the global cassava starch market in the projected period. This region stands as the primary global producer of cassava starch, with significant contributions hailing from countries like Thailand, Indonesia, Vietnam, and China. Notably, Thailand takes the lead as the largest exporter of cassava starch, catering to both regional and international markets. The Asia Pacific's advantageous climate and abundant cassava resources position it as a key hub for cassava cultivation and processing. A case in point is that secondary analysis indicates the prominence of Thailand and Vietnam in tapioca exports, jointly accounting for a staggering 94% of the total export volume. The export value of tapioca in 2020 amounted to USD 2.2 billion, with Thailand alone representing 53% of this total. These compelling dynamics collectively support the region's expansion in the market.

In parallel, North America is projected to claim a substantial market share throughout the forecast period, primarily driven by escalating demand within the food & beverages industry. This industry in North America extensively integrates cassava starch across various applications. It assumes roles as a robust thickening and stabilizing agent in an array of products, including bakery items, sauces, soups, snacks, and confectionery. Notably, the gluten-free attribute of cassava starch elevates its appeal, as it aligns with the development of gluten-free food offerings, catering adeptly to the diverse dietary preferences and needs of consumers. Consequently, this factor is anticipated to be a pivotal driver behind the market's growth in the North American region.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Cassava Starch Market: Opportunities

The surging demand for natural food additives presents a significant avenue for growth.

The global cassava industry is being propelled by the increasing demand for cassava starch as a versatile food additive across various food and beverage applications. This surge is driven by the expanding market for processed and convenient foods, coupled with consumers' growing preference for natural and transparent ingredient lists. Cassava starch, being a minimally processed and natural ingredient, is gaining traction as a clean-label option, swiftly replacing synthetic thickeners and stabilizers in diverse food and beverage applications.

Functioning as a practical component, cassava starch contributes to the thickening, stabilization, and texturization of an array of food and beverage products, including bread, confectionery, sauces, soups, and dairy items. It serves as a sustainable substitute for synthetic thickeners and stabilizers, particularly within the realm of processed and convenience foods. As a result, this trend is projected to create a lucrative opportunity for market expansion in the forecast period.

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