Pune, India, June 22, 2022 (GLOBE NEWSWIRE) — According to the report published by Fortune Business Insights in a report, titled “Cassava Starch Market Size, Share & Industry Analysis, By Type (Native Starch, Modified Starch, and Sweeteners), End-Use (Food & Beverages, Paper and Board, and Others), and Regional Forecasts, 2019 – 2026″ the market size stood at USD 40.53 billion in 2018. The report is aimed at delivering a comprehensive description of the cassava starch market dynamics and structure by identifying and providing information regarding the key market segments. It also focuses on an all-encompassing analysis of leading market players by financial position, product, product portfolio, price, growth strategies, and regional presence. It offers PORTER’s analysis and SWOT analysis to record the question of shareholders and highlights the investment potential in the upcoming future. It also showcases what procedures and strategies, companies are currently implementing in the market. It further examines the components, convincing market expansion, growth patterns, restricting factors, and market strategies.
List of Key Market Players:
- Tate & Lyle
- Cargill Inc
- AGRANA Starch
- The Dutch Agricultural Development & Trading Company BV
- Visco Starch
- Vaighai Agro
- Aryan International
- Psaltry International Limited
- Ekta International
- Chorchaiwat Industry Company Limited
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COVID-19 Impact –
The Market Witnessed a Demand Supply Gap Owing to the COVID-19 Impact
The worldwide spread of the novel coronavirus is expected to have a negative impact on the global cassava market’s growth. The pandemic is still spreading, and the impact is expected to worsen as the virus spreads further. Cassava trade has declined due to partial/complete closure of international borders, trade restrictions, nationwide lockdowns, and the permitted operation of production facilities at reduced capacity and workforce. The cassava market has seen a widening demand-supply gap as the supply and value chains have been disrupted.
By Type, Sweeteners Type is expected to hold the Largest Market Share
Sweetener obtained from the starch is expected to have the largest global market share due to its widespread use as a natural sweetener in a variety of food and beverage products. Consumer demand for clean-label and natural food ingredients has increased in several food and beverage industries, including bakery, health drinks, carbonated drinks, convenience foods, and others.
Cassava Starch Market Report Scope & Segmentation:
|Market size value in 2018||USD 40.53 billion|
|Revenue forecast in 2026||USD 66.84 billion|
|Growth Rate||CAGR of almost 6.50% 2019-2026|
|Historic Years||2015 – 2017|
|Forecast Years||2020- 2027|
|Segments Covered||By Type, By Flavor, By Application, By Packaging, By Distribution Channel and By Geography|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, South America, and Middle East & Africa, and Rest of World|
|Countries Covered||Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||Tate & Lyle, Cargill Inc, Ingredion, AGRANA Starch, The Dutch Agricultural Development & Trading Company BV, Visco Starch, Vaighai Agro, Aryan International, Psaltry International Limited, Ekta International, Chorchaiwat Industry Company Limited and many more|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
By End-Use, Food & Beverages holds the Largest Market Share
An increase in the busy lifestyle, the food and beverages end-use is expected to have the largest market share all through the forecast period. The growing consumer awareness of healthy additives and additives in foods and beverages is driving demand and trends.
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The report offers both qualitative and quantitative information about the cassava starch market. It also provides a thorough overview of its utility, applications, raw material availability, starch types, market size, and growth rate for each possible market segment.
Drivers & Restraints-
Cassava Starch will be in High Demand In Food Products as the Gluten-Intolerant Population Grows
Cassava starch is used by many food and beverage manufacturers because it has natural properties such as antioxidants. It is primarily used in processed meat, bakery, ready-to-eat food products, dairy, food ingredient & beverages, cereals, snacks, sweet potato, and other foods. The starch is a naturally gluten-free product that is used in a variety of gluten/celiac-free foods. One of the major factors driving the growth of the starch market is the gluten-intolerant population.
However, as the world’s economic situation improves, the price of various raw materials and other commodities rises in the current market. Raw material price increases have a negative impact on the cassava starch market growth.
Asia Pacific Holds the Largest Market Share Owing to the High Production and Utilization Of Cassava
Asia Pacific holds the dominant cassava starch market share with enormous potential for the utility and consumption of the starch in a variety of applications such as functional food, dietary supplements, nutritional drinks, medicinal applications, and others.
North America is the speediest region with enormous potential for cassava starch, with the fastest growth rate in the world, including Latin America.
Cassava Starch Industry Structure is Highly Fragmented and Consolidated
As a result of the emergence of several domestic and local players in the global market, the global market is highly consolidated and fragmented. The starch makers are capitalizing on reinforcing the distribution network, implementing cost-cutting techniques, and positioning a diverse range of the starch products in the global marketplace. Tate and Lyle, Ingredion Incorporated, Cargill Inc., and other private label and region-dominant players have set the benchmark for innovation and growth of specialized cassava starch with new formulations. This encourages natural ingredient behemoths to speed up product launches and diversify their product portfolios in the near future.
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Notable Industry Development-
Ingredion Incorporated Announced the Launch of its Tapioca-Based Clean-Label Starch
July 2019: Ingredion Incorporated has introduced a tapioca-based clean-label starch that is a dry powder, high-water mix. It is used as a co-texturizer in a variety of foods, including soups, hot drinks, and desserts. This product will meet the organic ingredient criteria in countries such as Ireland, the U.K., and France, as well as the associated EU legislation. This will assist manufacturers in capitalizing on the natural and financially rewarding clean label trends.
- By Application
- Food & Beverages
- Paper & Board
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