Global Cassava Processing Market To Be Driven By Demand For Cassava Globally In The Forecast Period Of 2023-2028
Cassava Processing Market Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2023-2028
The new report by Expert Market Research titled, ‘Global Cassava Processing Market Share, Scope, Trends, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global cassava processing market, assessing the market based on its segments like product types, end uses, industrial uses and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): 276.89 million tons
- Forecast CAGR (2023-2028): 2.9%
- Forecast Market Size (2028): 328.71 million tons
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The need for cassava processing is highly dependent on worldwide cassava demand. Nigeria is the world’s top cassava grower, accounting for roughly one-fifth of global production, with Thailand, Indonesia, Brazil, Ghana, and Congo following closely after. Benue, Kogi, Enugu, Imo, Cross-River, Ondo, Ogun, Delta, Anambra, Edo, and Taraba are among the biggest producers of the crop in Nigeria.
Feed and food products, for example, are two of the most important end-use sectors. The food industry was the largest end-use market in 2020. Cassava flour and starch have the biggest market share due to their widespread use in bakeries, foods, and ice creams, among other things.
China, Japan, and Indonesia are the biggest importers of cassava goods such as flour, starch, chips, and pellets, with China, Japan, and Indonesia importing massive amounts of cassava flour, starch, chips, and pellets.
China is the world’s largest buyer of such goods. Asia is the world’s biggest importer and exporter of cassava goods. Thailand, Vietnam, the United States, Costa Rica, China, the Netherlands, Spain, Egypt, Honduras, and Indonesia are among the top cassava exporters in the world.
Cassava Processing Industry Definition and Major Segments
Cassava is a tropical plant whose many parts, such as roots, leaves, and stem, can be used to make a range of food items. Cassava leaves can be used for soup or livestock feed, fried or eaten fresh, or processed into a variety of foods, while the stem can be used as fuel or to sow more cassava.
The starchy roots of numerous food crops are recognised as the highest energy source (carbohydrates) and can be processed into pellets, chips, flour, and starch.
The majority of the cassava is consumed directly, while the remainder is processed into starch, flour, pellets, chips, and other products. Toxins are removed from the product during processing, which enhances its robustness, reduces its weight, and boosts its total value. Some of the industries that employ processed cassava are milk, fertiliser, paper and cartons, fabric, pharmaceuticals, glues, and adhesives industry.
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On the basis of product type, the cassava processing market is divided into:
- Cassava Starch
- Cassava Flour
- Cassava Chips
- Cassava Derived Ethanol
The product finds wide application end-use in the following sectors:
The industrial segment includes applications like:
- Biodegradable products
The regional cassava processing markets include:
- North America
- the Asia Pacific
- Latin America
- the Middle East and Africa
Cassava Processing Market Trends
The growing applications of cassava in end-use industries are driving the cassava processing industry. The product’s widespread use in the textile industry as a stiffening agent and to improve the threat’s weaving efficiency while protecting it is also driving the industry. The market’s expansion is being aided by increased demand from the feed industry.
The growing usage of cassava in the food industry is driving up demand for processed cassava. Cassava flour is commonly used in bakery items such as biscuits, cookies, and bread. The products are also utilised in the manufacture of confectioneries, such as gums and sweets. As a thickening, it’s used in soups, sauces, baby meals, gravies, and other dishes.
The industry’s need is also supported by its use as a binder in sausages and processed meats to keep them from drying out while cooking. Chips, shrimp sticks, butter cakes, and coconut cookies are just a few of the products made from the processed commodity.
Key Market Players
The major players in the market are Ingredion Incorporated, Tereos S.A. and Sonish Starch Technology.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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