The global cassava starch market reached a production volume of more than 8 Million Tons in 2018, registering a CAGR of 4.73% during 2011-2018. The market volume is further projected to cross 10 Million Tons by 2024, at a CAGR of 3.76% during 2019-2024. Cassava starch, or tapioca, is procured from cassava roots through the process of washing and pulping. It is rich in iron, folate, manganese, carbohydrates and calcium. In comparison with its alternatives, cassava is a relatively cheap raw material containing a high concentration of starch. Moreover, cassava starch offers numerous advantages such as neutral taste, high level of purity and excellent thickening characteristics. It also has a high paste clarity, freeze-thaw stability and paste viscosity. Owing to this, cassava starch finds applications in diverse industries like food, beverage, fuel, textile, sweeteners and paper.
Global Cassava Starch Market Drivers:
- Being a rich source of carbohydrates, cassava starch is used as a major ingredient in a number of food products. The global food industry is currently growing at a rapid pace due to urbanization, expanding working population and rising household incomes, especially in the emerging nations like India and China. This is has led to an increase in the demand for ready-to-eat food products which has stimulated the growth of the cassava starch industry.
- Earlier, the usage of cassava starch was largely confined to food applications, however, owing to its easy availability, it is also being utilized for non-food applications like manufacturing pharmaceuticals, adhesives, papers, etc. Growth in these end-use industries is providing a thrust to the market growth.
- In the textile industry, cassava starch is used for sizing, finishing and printing due to its flexibility, resistance to abrasion and the ability to form a bond with the fiber. In finishing, cassava starch is utilized to cover blemishes or defects and provide a finishing look to the end product. Increasing westernization is fueling the growth of the textile industry, in turn, boosting the cassava starch market.
- The growing health consciousness along with the rising cases of diabetes have stimulated the demand for artificial sweeteners across the globe. The increasing demand for these sweeteners is expected to drive the cassava starch market in the coming years.
Breakup by End-Use:
Based on end-use, the report finds that the sweeteners industry accounts for the majority of the total market share. Cassava starch is highly preferred for the production of sweeteners as a result of its high level of purity, excellent texture, thickening properties and neutral taste. It is followed by MSG/lysine, food industries, paper industries, modified starch, sago pearl and textile.
On a geographical front, Asia Pacific represents the largest producer of cassava starch, holding around three-fourths of the total share. Cassava starch is comparatively cheaper and occupies agriculturally marginal areas due to which economically backward farmers are able to cultivate the crop. Asia Pacific is followed by Africa, Latin America and Others.
The competitive landscape of the cassava starch industry is fragmented in nature due to the presence of numerous small and large players. Some of the leading players operating in the market are:
- TCS Tapioca
- Eiamehang Tapioca
- Sunrise International
- PT Buda Starch & Sweetener
- SPAC Tapioca
This report provides a deep insight into the global cassava starch industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a cassava starch manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the cassava starch industry in any manner.
Key Questions Answered in This Report:
- How has the global cassava starch market performed so far and how will it perform in the coming years?
- What are the key regions in the global cassava starch market?
- What are the key end-use segments in the global cassava starch market?
- What are the price trends of cassava starch?
- What are the various stages in the value chain of the global cassava starch market?
- What are the key driving factors and challenges in the global cassava starch market?
- What is the structure of the global cassava starch industry and who are the key players?
- What is the degree of competition in the global cassava starch market?
- What are the profit margins in the global cassava starch market?
- What are the key requirements for setting up a cassava starch manufacturing plant?
- How is cassava starch manufactured?
- What are the various unit operations involved in a cassava starch manufacturing plant?
- What is the total size of land required for setting up a cassava starch manufacturing plant?
- What are the machinery requirements for setting up a cassava starch manufacturing plant?
- What are the raw material requirements for setting up a cassava starch manufacturing plant?
- What are the packaging requirements for cassava starch?
- What are the transportation requirements for cassava starch?
- What are the utility requirements for setting up a cassava starch manufacturing plant?
- What are the manpower requirements for setting up a cassava starch manufacturing plant?
- What are the infrastructure costs for setting up a cassava starch manufacturing plant?
- What are the capital costs for setting up a cassava starch manufacturing plant?
- What are the operating costs for setting up a cassava starch manufacturing plant?
- What will be the income and expenditures for a cassava starch manufacturing plant?
- What is the time required to break-even?