IMARC Group’s latest report, titled “Cassava Processing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global cassava processing market reached a volume of around 279 Million Tons in 2016, growing at a CAGR of around 2.5% during 2009-2016. Cassava is a tropical crop which is easy to grow and harvest even during the adverse conditions. It serves as a staple food for a major portion of the global population living in the tropical and sub-tropical regions. As a result of its high perishability, cassava is processed into a number of products such as flour, starch, chips, fillets, etc. Processing enhances the value of the product by reducing its weight, lessening post-harvest losses, removing naturally occurring toxins and extending its shelf life.
Highlights of the Global Cassava Processing Market:
- Expanding applications coupled with a strong demand from the food industry remain the primary growth driving factors.
- In terms of consumption, food use accounts for a half of the global market share.
- Nigeria accounts for a fifth of the market share, representing the largest market.
Processed cassava finds applications in the food industry, where it is widely used in the manufacturing of bakery products, confectionaries, jams and preserves, canned fruits, MSG, caramel, etc. Cassava chips and pellets are mainly used by the animal feed industry. The growing awareness about the properties of the processed cassava has resulted in its expanded applications across various other industries which include paper and cardboard, ethanol, textiles, glues and adhesives and pharmaceuticals. Moreover, the rising demand for biofuels, population growth and popularity of Gari are some of the other factors that are further expected to strengthen its demand globally. According to the report, the market is further projected to reach a volume of more than 309 Million Tons by 2022.
The market has been segmented on the basis of end-use. Currently, food use accounts for a half of the global market share. On the basis of region, Nigeria represents the leading producer of cassava. Some of the other markets include Thailand, Indonesia, Brazil and Congo. Some of the key players operating in the market are Avebe U.A., Global Bio-Chem Technology Group, Penford Corp, Cargill Incorporated and Ingredion.
The report has examined the global cassava processing market on the basis of:
- Avebe U.A.
- Global Bio-Chem Technology Group
- Penford Corp
- Cargill Incorporated
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