Persistence Market Research published a report on the cassava starch market which includes the global industry analysis 2014 – 2018 and opportunity assessment 2019 – 2029. It projects that the cassava starch market is expected to reach ~US$ 6 Bn by the end of 2019 in terms of value, and is forecasted to reach ~US$ 10 Bn by the end of 2029.
Increasing Demand for Native Starch Products Propelling the Demand for Cassava Starch
Native starch products are gaining attention, especially in the food and beverages industry. The growing awareness among consumers regarding the consumption of natural products is providing a better platform for native starch products. Modified starch is produced by synthetic methods and properties of native starch get affected with the use of chemicals. Since modified starch is chemically and synthetically produced, it falls in the category of food additives, which are used in different food products as emulsifiers, thickening agents, stabilizers, etc.
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Unlike modified starch, native starch is directly extracted from cassava or other starch containing products, hence, it does not belong to the synthetically produced food additives category. The demand for chemical-free and natural products is at its peak and food manufacturers are moving towards producing native starch as per consumer demand. As consumer awareness regarding the chemicals added to food ingredients has increased, they have started avoiding such ingredients, which is contributing to the growing demand for native starch products and further benefitting the cassava starch market as well.
Growing Demand for Gluten-Free Products Driving the Cassava Starch Demand
Cassava starch is a gluten-free ingredient, which can be used in different food products. Most consumers are prohibiting food products, which contain gluten. Various food companies are also utilizing gluten-free ingredients in their food products. Gluten is actually a group of protein, which is found in different grains including wheat, barley, rye, oats, and others. Gluten can cause serious side effects to certain people and create severe damage to health.
When certain individuals with gluten intolerance consume gluten, the body senses it as a toxic product, which leads to immune cells attacking one another. Intolerance of gluten can sometimes cause serious health issues such as fatigue, bloating, constipation, and others. People who have celiac disease are also told to eat gluten-free products. Since the preference for gluten-free products is growing, large number of consumers are avoiding gluten products, which has propelled the demand for gluten-free ingredients such as cassava starch.
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Growth in the Consumption of Organic Food Products Beneficial for the Cassava Starch Market
The organic and natural trend is very popular in the food and beverages industry. Consumers are becoming health conscious and opting for organic and natural food products to stay healthy. Organic food products are considered to be beneficial for health, owing to their chemical-free agricultural processing. Organic food products are grown without additional pesticides and chemical fertilizers, which makes them pure and naturally-grown food products.
Large consumer base, especially in developed countries is embracing the usage of organic food products in order to maintain a healthy lifestyle. Cassava is health beneficial and nutritional root, which is also grown organically around the world and widely consumed. Hence, the trend of organic product consumption is positively impacting the cassava starch market growth.
Key Producers of Cassava Starch
The key players included in the cassava starch market report are :
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