Cassava Market Scope
Cassava also called manioc or tapioca root is cultivated as an annual crop in tropical and subtropical regions for its edible starchy, tuberous root. Cassava residue has applications in the production of animal feed, fermentative production of biogas, as fuel, and in culture media for mushrooms. Owing to its high nutritional value, relatively low cost, and tremendous application in the production of starch and alcohol, the cassava market is expected to grow at a significant rate during the forecast period. In addition, with growing awareness and inclination of the population towards eco-friendly and healthy products coupled with their rising disposable income, there is an upsurge in the adoption of cassava in various sectors which drives market growth.
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|Key Companies Profiled||Otto's Naturals (United States), Ingredion Inc. (United States), Cargill Incorporated (United States), Parchem Fine & Specialty Chemicals (United States), Archer Daniels Midland Company (United States), Psaltry International Limited (Nigeria), Cargill Incorporated (United States), Tate & Lyle Plc (UK), Dadtco Philafrica B.V. (Netherlands) and Roquette Frères (France)|
Several large and small industry players participate extensively in environmentally sustainable tactics in order to cultivate cassava and enhance their manufacturing capabilities by leveraging modern agriculture technology. Numerous collaboration and partnerships with the government pertaining to cassava production also aids in strengthening the market competencies of the key players. This offers them a competitive edge to sustain their market position. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Cassava market throughout the predicted period.
Otto's Naturals (United States), Ingredion Inc. (United States), Cargill Incorporated (United States), Parchem Fine & Specialty Chemicals (United States), Archer Daniels Midland Company (United States), Psaltry International Limited (Nigeria), Cargill Incorporated (United States), Tate & Lyle Plc (UK), Dadtco Philafrica B.V. (Netherlands) and Roquette Frères (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Venus Starch Suppliers (India), Agrideco Vietnam Co. Ltd. (Vietnam), Grain Millers Inc. (United States), Mhogo Foods Ltd. (Kenya), American Key Food Products Inc. (United States), Cargill Incorporated (United States) and Parchem fine & specialty chemicals (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Cassava market by Type , by Application (Food and Beverage, Industrial, Animal Feed and Others) and Region with country level break-up.
On the basis of geography, the market of Cassava has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2021.
Market Leaders and their expansionary development strategiesOn 10th February 2021, Tate & Lyle PLC acquired 85% of shares of Chaodee Modified Starch Co., Ltd., a Thailand-based tapioca-modified food starch manufacturer. Through this acquisition, the company established a dedicated production facility in Thailand to offer a broader range of tapioca-based solutions, thereby expanding its manufacturing footprint in the Asia-Pacific.
On 11th August 2022, Psaltry International, a Nigerian agro-processing company, partnered with Unilever Nigeria, and FCMB to establish Africa’s first cassava-based Sorbitol factory in Oyo State. This inauguration enhanced the importation of raw materials for local production and generated employment for numerous residents, thereby expanding the company’s operational abilities.
Influencing Trend:Growing Consumer Preference for Cassava as an Alternative Source of Carbohydrates
Market Growth Drivers:Rising Inclination of the Population towards Healthy Food Products and Food Ingredients and Surge in the Number of Cassava Farmers Adopting Cutting-Edge Innovations
Challenges:Declining Soil Fertility and Poor Farming Practices
Restraints:Rising Greenhouse Gas Emissions Due to Agricultural Production, Transport and Energy Use in Cassava Processing
Opportunities:Increasing Technological Advancements to Enhance Cassava Production and Use of Cassava Starch in Textile Industry to Improve Weaving Efficiency
Key Target AudienceCassava Manufacturers, Sellers, and Suppliers, Agricultural Institutions, Government Agencies, Regulatory Bodies, Potential Investors, Research and Development Institutes, Customers, End User Industry and Others