Global Cassava Starch Market Expected to Reach 7.2 Million Tons by 2022
Cassava has a high concentration of starch and is relatively cheaper than other sources. The growing demand for cassava starch for food and industrial applications is expected to drive the global cassava starch market with the global production projected to reach a volume of 7.2 Million Tons by 2022.
IMARC Group’s latest study “Cassava Starch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022” provides an in-depth analysis of the global cassava starch market. Cultivated in around a hundred countries worldwide, cassava (Manihot esculenta) represents one of the most popular staples in the tropical region. It is a relatively cheap raw material for starch production and has a higher concentration of starch as compared to other starch sources such as rice, sweet potato, wheat and maize. Furthermore, it has a high level of purity, excellent textural and thickening properties and a neutral taste.
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Cassava starch can be easily extracted using a simple process which can be carried out on a small scale with limited capital. As a result of its ease of production and numerous physical and chemical properties, cassava starch is used in a number food and industrial processes. According to the report, the global cassava starch market reached a volume of 6.6 Million Tons in 2016, growing at a CAGR of around 2% during 2009-2016.
As a result of its thickening, moisturising, texturizing, pasting, water absorption, water binding and dough mixing properties, starch finds numerous uses in the food industry. It is used in the production of sweeteners, confectioneries, lysine, bakery products, sago pearls, canned foods, jams, preserves, MSG, noodles, etc. It is also used in the production of dextrose and caramel. Cassava starch is preferred in the adhesives industry as it helps in producing more viscous adhesives that provide stable glues and work more smoothly. It also finds applications in the modified starch, textile, pharmaceuticals, detergents, plastics, plywood and paperboard industries. The growing demand for cassava starch products for food and industrial applications has directed the global attention towards the cassava starch market. As a result, this market is projected to reach a volume of 7.2 Million Tons by 2022.
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On the basis of aforementioned applications, the report has segmented the market into sweeteners, textile, modified starch, paper, sago pearl and MSG/Lysine. Sweeteners currently represent the largest consumer of cassava starch accounting for the majority of the total global consumption. The report has further analysed the market region-wise. Currently, Asia represents the largest producer of cassava starch accounting for the majority of the total global production. Within Asia, Thailand and Indonesia account for around half of the production value. The report has also analysed the competitive landscape of the report covering the key global players currently operating in this market.
The report provides a comprehensive analysis for setting up a cassava starch processing plant. The study covers all the requisite aspects of the cassava starch market and provides an in-depth analysis of the industry performance, 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 are planning to foray into the cassava starch market manner.
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