Growing Demand for Functional Foods with Nutritional and Health Benefits Driving Cassava Starch Market Expansion
Rockville, Dec. 14, 2023 (GLOBE NEWSWIRE) — According to a new study published by Fact.MR, a market research and competitive intelligence provider, the global Cassava Starch Market is pegged at a valuation of US$ 4.19 billion in 2024. Worldwide demand for cassava starch is forecasted to increase at 4.9% CAGR from 2024 to 2034.
Increasing utilization of cassava starch by several food manufacturers to produce food products, including dairy, bakery, meat, ready-to-eat meals, cereals & snacks, and functional foods, is contributing to revenue streams. Cassava starch is used extensively as one of the prominent ingredients in the manufacturing of biscuits and bread. The increasing use of both modified and native starches further contributes to the growing demand for cassava starch.
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Key Segments of Cassava Starch Industry Research Report
| By Type | By Nature | By Form | By Application |
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Functional foods come with a perfect balance of nutritional and health benefits. More consumers are adopting functional foods to maintain a healthy lifestyle and minimize the risk of certain diseases. The low glycemic index of cassava starch is also driving its demand across regions. Textile manufacturers are adopting cassava starch in several operations. Significant growth of the textile industry is forecasted to propel the demand for cassava starch as a viable solution.
Key Takeaway from Market Study
- The global cassava starch market is pegged at US$ 4.19 billion in 2024.
- Worldwide demand for cassava starch is forecasted to reach a market valuation of US$ 6.78 billion by the end of 2034.
- The global market is predicted to expand at 4.9% CAGR from 2024 to 2034.
- East Asia is projected to contribute 24.8% share of the global market by 2034.
- Sales of cassava starch in South Korea are forecasted to rise at a CAGR of 8% from 2024 to 2034.
- Solid cassava starch is predicted to account for 62.2% share of global market revenue by 2034.
“The cassava starch market is projected to be driven by rising consumption of functional foods and growing use of cassava starch in snacks and cereals,” says a Fact.MR analyst.
Rising Use of Cassava Starch in Food & Beverages Due to its Excellent Binding Property
Cassava starch comes with excellent gelling, binding, and thickening properties, which contribute to its adoption as a versatile ingredient in several foods & beverages. Cassava starch is utilized in the food industry as a texturizing, stabilizing, and thickening agent in various products such as beverages, bakery items, sauces, and soups.
Key Market Players
Leading manufacturers of cassava starch are Tate & Lyle, Cargill, Incorporated, Ingredion, AGRANA Starch, Psaltry International Limited, KPN Pharma Co., Ltd., Visco Starch, SPAC STARCH PRODUCTS LTD., Vaighai Agro, Ekta Internation, Aryan Internation, Sanstar Bio – Polymers Ltd., Asia Fructose Co., Ltd., Thai Foods Product International Co., Ltd., and Ng Wah International Development Limited.
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| Report Attribute | Details |
| Value Projection (2034) | USD 6.78 Billion |
| Growth Rate (2024-2034) | 4.9% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 80 Tables |
| No. of Figures | 219 Figures |
Cassava starch plays a crucial role as a key ingredient in the food and beverages industry, finding widespread application in snacks, dairy, bakery, and similar food products. Certain food manufacturers are incorporating cassava starch into cereal and snack items to elevate their overall quality. Additionally, its usage as a water-binding and texturizing agent aids in achieving the desired viscosity in various food products.
As the demand for hot extruded pretzels, snacks, ready-to-eat cereals, and fried foods continues to rise, the sales of cassava starch are expected to experience a notable increase in the future.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the cassava starch market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on type (native, modified, sweeteners), nature (organic, conventional), form (liquid, solid), and application (food & beverages, pharmaceuticals, cosmetics & personal care, animal feed, paper, textiles, & adhesives), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
Checkout More Related Studies Published by Fact.MR Research:
Tapioca Starch Market: Global sales of tapioca starch market is likely to reach US$ 4.7 Bn in 2022. Growing inclination towards gluten-free food along with tapiocas health benefits is playing a key role in the increasing demand for tapioca starch.
Starchy Roots Market: The global starchy roots market is valued at US$ 476 billion in 2023 and is forecasted to reach US$ 870 billion by 2033-end. Global sales of starchy roots are estimated to increase at a CAGR of 6.2% from 2023 to 2033.
Waxy Maize Starch Market: The waxy maize starch market is valued to be worth US$ 3.68 Billion in 2022 and during the forecast period, it is anticipated to grow at a CAGR of 5.8%. In 2032, the market for waxy maize starch is expected to be worth US$ 6.49 Billion.
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