Market Research Future (MRFR) projects the cassava market to gain a growth rate of 3.90% over the analysis period (from 2020 to 2027). By the end of 2027, the market value can be USD 5.5 Billion, expects Market Research Future.
Growth Boosters and Impediments
Cassava and its by-products have gained global recognition, rapidly emerging as the perfect substitute for wheat flour and various other gluten-based flours. It is highly calorific compared to other types of flours, and is rich in starch, which is the primary source for dietary fibers, and carbohydrates. As a result, the product demand in the animal feed segment has risen considerably and will continue to soar in the years ahead.
Cassava flour is used extensively in households, give its considerable nutritional content. Cassava is rich in iron, potassium, calcium, phosphorous, sodium, and various other ingredients. Apart from mineral content, it is also a rich source of vitamins like vitamin C, and vitamin A. The market growth will also be bolstered by the mounting demand in the food industry. In the food sector, cassava’s popularity as a gluten-less as well as a nutritional ingredient has raised the demand significantly worldwide.
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The category-based categories analysed in the MRFR review study are organic as well as conventional. The market for organic cassava should achieve greater growth in the coming years, on account of the surging consumption of gluten-free bakery items among consumers affected by celiac disease, which is caused by intake of gluten.
Forms in which cassava and its by products are generally available in the worldwide industry include liquid and dry.
Key applications of cassava market include animal feed, beverages, bakery & confectionery, sweet and savory, dairy and frozen desserts, and others. Studies have confirmed that cassava products are ideal energy animal feed ingredients for ruminant as well as mono-gastric animals. The starch present in cassava products is easily digestible, especially compared to maize owing to the substantial amylopectin content. As a result, the demand for cassava has been soaring significantly in the animal feed sector worldwide, and the segment is bound to gain further traction in the years to come.
Asia Pacific will remain the market leader all through the conjectured period, led by China, Japan, India, and Indonesia. Asia Pacific is one of the major importers of cassava products including chips, flour, pellets, and starch. In the region, China is the biggest producer and is touted to achieve the fastest CAGR between 2020 and 2027. The massive demand for cassava products as well as by-products is generated in various sectors, such as textiles, food and beverage, and more.
In view of the extensive consumption of a variety of snacks along with baked products, Europe will be capturing a significant growth rate in the following years. The casava market in Germany, Italy, and the UK has been soaring as a result of the product’s widespread adoption in the textile industry as a stiffing agent and to improve the weaving property of the thread. Rapidly surging product demand in the animal feed sector also facilitates business growth in the region.
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Otto’s Naturals (New Jersey), Ingredion Inc. (US), Tate & Lyle Plc (UK), Cargill Incorporated (US), Parchem fine & specialty chemicals (US), Archer Daniels Midland Company (US), Psaltry International Limited (Nigeria), Venus Starch Suppliers (India), Dadtco Philafrica B.V. (Netherlands), Roquette Frères (France), Woodland Foods (US), Agrideco Vietnam Co., Ltd. (Vietnam), Grain Millers, Inc. (US), American Key Food Products Inc. (US), Mhogo Foods Ltd. (Kenya) are some of the most important cassava manufacturers enlisted in the MRFR research study.
Don Pancho is set to introduce its latest Grain Free Cassavas and Grain Free Chips that are made using cassava flour, as well as flax seeds, are rich in dietary fibre and omega-3 fats. These grain-free items offer a gluten-free option to consumers, replacing conventional flour corn chips, and Cassavas.
American Key Food Products (AKFP) introduced its Organic Native Tapioca Starch, which is an addition to the brand’s portfolio of clean-label cassava-based, organic products. Sourced from the root of the cassava plant, this unmodified, native starch is gluten-free and is vegan and paleo-friendly. The product is also nut-free, non-GMO verified, and grain-free.
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