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Cassava Starch Market to Achieve USD 7.9 Bn by 2032 - Persistence Market Research
The cassava starch market is witnessing significant growth, driven by increasing applications across industries such as food and beverages, paper, textiles, and pharmaceuticals. Known for its versatility, cassava starch is a preferred choice for natural and gluten-free starch solutions. The rising trend of clean-label products and growing demand for plant-based ingredients further fuel market expansion.
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Market Size and Forecast
The global cassava starch market is poised for substantial growth, with projections indicating it will reach a valuation of US$ 5.2 Bn by 2025. Driven by a steady compound annual growth rate (CAGR) of 5.9% during the forecast period (2025-2032), the market is expected to expand to approximately US$ 7.9 Bn by 2032. This growth trajectory is attributed to the rising adoption of cassava starch in diverse end-use applications and its role as a cost-effective alternative to other starches.
Key Growth Drivers
Increased Demand for Natural and Gluten-Free Products: The rising prevalence of gluten intolerance and celiac disease has spurred demand for cassava starch as a natural alternative in gluten-free food products.
Industrial Applications: Its usage in adhesives, paper manufacturing, and textiles is bolstering growth, particularly in developing economies with thriving industrial sectors.
Cost-Effectiveness and Versatility: Cassava starch offers a cost-effective solution with a wide range of applications, from food thickeners to bio-based packaging solutions.
Innovation in Food and Beverage Products: Manufacturers are leveraging cassava starch for its textural properties and clean-label appeal in processed foods and beverages.
Market Segmentation
By Type
Native
Modified
By Nature
Organic
Conventional
By Application
Food and Beverage
Bakery and Confectionery
Snacks and Cereals
Processed Food
Functional Food
Soups, Sauces, and Gravies
Beverages
Others
Pharmaceutical
Cosmetics and Personal Care
Paper, Textile and Adhesives
Animal Feed
By Region
North America
Latin America
Europe
East Asia
South Asia
Oceania
The Middle East & Africa
Regional Outlook
Asia-Pacific: Expected to dominate the market, led by significant production and consumption in countries like Thailand, Vietnam, and Indonesia.
North America: Increasing awareness about cassava starch's health benefits drives its adoption in gluten-free and clean-label products.
Europe: Growing demand for bio-based packaging and natural food ingredients propels the market forward.
Latin America and Africa: These regions serve as major producers and exporters, contributing significantly to global supply.
Competitive Landscape
The cassava starch market is moderately fragmented, with key players focusing on expanding their product portfolios and enhancing distribution networks. Mergers, acquisitions, and collaborations are key strategies adopted by companies to strengthen their global presence.
Key Players:
Cargill, Inc.
Ingredion Incorporated
Tate & Lyle PLC
Thai Wah Public Company Limited
SPAC Starch Products (India) Limited
Opportunities and Challenges
The cassava starch market is primed for growth, with increasing demand for eco-friendly and plant-based solutions creating lucrative opportunities. However, challenges such as fluctuating raw material prices and limited awareness in underdeveloped regions may impact growth.
Conclusion
The global cassava starch market is on a robust growth trajectory, driven by its diverse applications and increasing consumer preference for natural, gluten-free, and clean-label products. With expanding industrial and food applications, coupled with innovations in product development, the market is expected to witness sustained growth through 2032.
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