Cassava Market Outlook Share Growing Rapidly with Recent Trends & Outlook 2030
Market Scenario
The
global Cassava Market 2020 is poised to mature at a CAGR of 4.18%
from 2022 to 2030 to acquire a market value of USD 237.76 billion by
the end of 2030.
Market Highlights
The
increasing demand in the food and feed industry for cassava flour is driving
development in the global cassava market. Cassava flour is gaining recognition
globally as an alternative to wheat flour and other gluten-based flours. Due to
its higher nutritional content, the need for cassava flour is growing in the
global meal market due to its higher use in the household as well as in
industrial purposes. Strong demand among customers for bakery, confectionery,
and snacks is boosting the selling of cassava products, affecting the growth of
the cassava industry globally. Cassava flour also has a wide variety of
applications including in the biofuels, laundry and animal feed industries
which is further propelling the Cassava Market Insights and growth. The demand
for cassava flour is strong on the global flour market, owing to its very low
gluten content relative to other flour types, while facing higher demand due to
the rising acceptance of vegan and low gluten diets. Thus, owing to a rise in
cassava flour production, it is expected that higher investments will be made
in the near future on the global cassava industry.
Increased
understanding of the health benefits of cassava is often seen as the main
driving force in the development of the global cassava industry. The global
market for cassava is increasing rapidly, leading to increased demand from most
countries and expanded growth opportunities. Moreover, the increasing focus on
R&D is projected to boost the cassava market over the forecast period.
Regional Overview
The
global market for cassava has been analysed for four main regions — North
America, Europe , Asia-Pacific and the rest of the world.
North America Cassava Market is projected to see a
rapid growth rate, owing to the region's many primary foreign players from
various sectors.
Growing
recognition and urbanisation in the Middle Eastern and African countries is
projected during the forecast period to increase consumption of raw packaged
food and establishment of food businesses.
In
the forecast timeframe the Asia-Pacific region is projected to dominate the
cassava industry. Growing demand for cassava flour and other by-products made
from cassava is driving growth in the region's cassava industry. The cassava is
commonly used in the food industry and also in the kitchen.
Owing
to the high consumption of snacks and baked goods as comfort food the European Cassava
Market Outlook is expected to record the highest CAGR through the forecast
period. Furthermore, in the European region demand for cassava flour is growing
due to its rising intake of processed food. The varieties of cassava
by-products made available by industry players will fuel regional demand growth.
Segmental Analysis
The
global Cassava Market Insights has been analyzed based form, application,
category, and region.
The
global market has been divided, based on category, into organic and
conventional.
The
global cassava market has been bifurcated, based on form, into dry and liquid.
The
application segment of the global market comprises of animal feed, food &
beverages, and others. The food & beverage segment is further classified as
bakery and confectionary, beverages, dairy and frozen dessert, and sweet and savory
snacks.
Competitive Dashboard
Cargill
Incorporated (US), Ingredion Inc. (US), Venus Starch Suppliers (India), Grain
Millers, Inc. (US), Parchem fine & specialty chemicals (US), Psaltry
International Limited (Nigeria), Dadtco Philafrica B.V. (Netherlands), Roquette
Frères (France), Archer Daniels Midland Company (US), Woodland Foods (US), Tate
& Lyle Plc (UK), Mhogo Foods Ltd. (Kenya), American Key Food Products Inc.
(US), Agrideco Vietnam Co., Ltd. (Vietnam), and Otto's Naturals (New
Jersey) are some of the eminent players in the global cassava market.
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