Market Definition:
Cassava is a woody shrub, which belongs to euphorbiaceous family. It is cultivated mostly in tropical and subtropical regions. Cassava is known for its edible root which is a major source of carbohydrates. The powder form of Cassava is called tapioca. Cassava has a neutral taste and is used in food and beverage products. It is gluten-free, nut free and grain-free. Therefore, it is used in the manufacturing of gluten-free products. Superior health benefits and increasing demand from developing countries is primarily driving the global cassava market.
Furthermore, the market is projected to propel at a high CAGR during the forecast period based on its health benefits and potential application in the beverage and feed industry.
Market Scenario
Cassava is used to make gluten-free flour, animal feed, confectionary products, and a substitute of sucrose in beverages. It is also used in the laundry industry for starching of garments before ironing to give a better look.
Cassava is rich in gluten-free carbohydrates, which helps to prevent gluten intolerance and food allergies. Cassava is helpful in reducing cholesterol level owing to the high amount of fiber content. It is a rich source of calcium, manganese, and iron, which is beneficial for pregnant women. Cassava is neutral in taste, and it encourages overeating by providing feeling of fullness. Increased awareness regarding the health benefits of cassava has fueled the growth of the global cassava market. However, consumer shift towards organic cassava is anticipated to hamper the market growth of global cassava over the forecast period.
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Key Players
Some of the key players in the cassava market are 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.)
Key Findings:
The demand for cassava has increased from the food & beverage and commercial industries
Top exporters of cassava across the globe are Thailand, Vietnam, Cambodia, and the Netherlands
Intended Audience
Food & beverage industry
Animal feed industry
Raw material suppliers
Traders, importers, and exporters
Segments
On the basis of form, the market is segmented into animal feed, flour, chips, pellets, and pearls, and others. Among all, chips, pellets, and pearls forms have the highest share in the market. These forms are easy to synthesize and have a wide range application.
The global cassava market is segmented on the basis of application, which includes food and beverage, animal feed, and others. Among all, the food and beverage segment holds a major share followed by industrial applications. It is used in the making of gluten-free flour owing to high carbohydrate content, which is beneficial for gluten intolerance patients. It is also used in the laundry industry owing to high starch content.
Cassava market is segmented on the basis of product type, which comprises of conventional and organic product. Conventional cassava product holds major market share is due to high production capacity. However, organic cassava is expected to contribute more to the market growth. Consumer shift towards organic products is considered to be the major factor for such rise.
Regional Analysis
The global cassava market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Asia Pacific market is dominating the global cassava market followed by North America. In Asia Pacific region, China, Thailand and Indonesia are the major consumers of cassava. Moreover, North America region is expected to grow rapidly owing to high demand for gluten-free carbohydrate food in the population during the forecast period 2017-2023.
Furthermore, China, Thailand, the U.S., Vietnam, and Spain are the major importers of cassava.
The cassava market is segmented into the following regions
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