Market Overview
Cassava is a woody shrub, which belongs to euphorbiaceous family. It is mostly cultivated in tropical and subtropical regions of the world. Roots of cassava are edible and major source of gluten-free carbohydrates. Therefore, it prefers in the manufacturing of gluten-free products. The powder form of cassava is called tapioca. Additionally, it has a neutral taste and is used in food and beverage products. Furthermore, it is also used in commercial industries like paper, adhesive, textile, and others. Increased awareness regarding health benefits of cassava is considered to be the major driving factor in the growth of global cassava market.
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Market Forecast
Cassava has a wide range product applicability, which makes them an important ingredient to be used in food and commercial products industry. It is used as a substitute for sucrose in the food industry. It is a rich source of fiber and carbohydrate. Starch extracted from cassava has commercial, industrial applications, which are used in the textile, adhesive, paper, and other industries. Furthermore, the demand for a substitute of gluten-free carbohydrate food, increasing health conscious population and large-scale application in commercial industries is driving the demand for cassava.
All these factors are expected to contribute to the estimated CAGR of 3.0% of cassava market during the forecast period 2017-2023.
Downstream Analysis
Cassava market is segmented on the basis of form, which includes animal feed, flour, chips, pellets, pearls, and others. Among all, the chips, pellets, and pearls forms dominate the market owing to a wide range of application in the animal feed and food products.
The global cassava market is segmented on the basis of application, which includes food and beverage, industrial, animal feed, and others. Among all, application in the food industry holds the significant share of the global market. It is used in making gluten-free flour owing to high carbohydrate content, which is beneficial for gluten intolerance patients. However, the demand from commercial industries is projected to rise during the forecast period.
Cassava market has been segmented on the basis of product type, which comprises of conventional and organic. Conventional cassava product holds a high market share owing to high production capacity. However, organic cassava is expected to grow in this segment. Consumer shift towards organic products is considered to be the major driving factor.
Competitive Analysis
The major players in the Cassava Market
American Key Food Products LLC (U.S.)
Cargill (U.S.)
Ingredion Inc. (U.S.)
Tate & Lyle (U.K.)
Venus Starch Suppliers (India)
Grain Millers, Inc. (U.S.)
Parchem fine & specialty chemicals (U.S.)
The global cassava market is rapidly growing owing to increasing demand from most of the countries, and intensifying market opportunities. Moreover, the increasing focus on R&D is projected to boost the cassava market over the forecast period 2017-2023.
Regional Analysis
The global cassava market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific region is dominating the cassava market followed by North America. In Asia Pacific region, China, Thailand, and Indonesia are the primary consumers of cassava. Moreover, North America region is expected to grow exponentially owing to high demand for rich gluten-free carbohydrate food in the population during the forecast period 2017-2023.
Market Segmentation
Cassava market is segmented on the basis of form, applications, and product types
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