NEW YORK, July 1, 2024 /PRNewswire/ — The global tapioca market size is estimated to grow by USD 44.2 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.42% during the forecast period. Alternative to gluten and grain food products is driving market growth, with a trend towards usage of tapioca in bioplastics. However, complexities related to over consumption poses a challenge. Key market players include American Key Products Inc., Authentic Foods, Cargill Inc., Ciranda Inc., Ekta International, Emsland Starke GmbH, Hunan Kang pharmaceutical Ltd., Ingredion Inc., Jayavel Sago Factory, KengSeng Group of Co., Malt Products Corp., Parchem Fine and Specialty Chemicals Inc., PT Budi Starch and Sweetener Tbk, Royal Ingredients Group BV, Sonish Starch Technology Co. Ltd., SPAC Starch Products India Pvt. Ltd., Tapioca Vietnam, Tate and Lyle PLC, Tereos Participations, and Venus Starch Suppliers.
Technavio has announced its latest market research report titled Global tapioca market 2024-2028
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Tapioca Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 – 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.42% |
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Market growth 2024-2028 |
USD 44.2 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
4.16 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 53% |
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Key countries |
India, US, France, Thailand, and Indonesia |
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Key companies profiled |
American Key Products Inc., Authentic Foods, Cargill Inc., Ciranda Inc., Ekta International, Emsland Starke GmbH, Hunan Kang pharmaceutical Ltd., Ingredion Inc., Jayavel Sago Factory, KengSeng Group of Co., Malt Products Corp., Parchem Fine and Specialty Chemicals Inc., PT Budi Starch and Sweetener Tbk, Royal Ingredients Group BV, Sonish Starch Technology Co. Ltd., SPAC Starch Products India Pvt. Ltd., Tapioca Vietnam, Tate and Lyle PLC, Tereos Participations, and Venus Starch Suppliers |
Market Driver
Tapioca, a stable and degradable biomass, significantly contributes to the production of biodegradable bioplastics. These bioplastics, derived from tapioca, exhibit desirable properties such as odorlessness, smoothness, and transparency. The increasing utilization of tapioca in bioplastics manufacturing is anticipated to boost the global tapioca market growth during the forecast period. This trend is driven by the rising demand for eco-friendly and biodegradable alternatives to traditional plastics.
The tapioca market has seen significant growth in recent years, with increasing demand for its versatile uses. Feed production is a major sector, with allies producing large quantities for animal feed. The social scene also embraces tapiocas as a popular snack, especially in the form of chips and pudding. Producers strive to meet the demand, with strategies such as sustainable farming and innovative processing techniques. The industry’s future looks bright, with carbs and industries using tapioca in various applications, from textiles to nutritional supplements. The global market is expanding, with nuts and grains supplying the raw materials. The challenge lies in maintaining quality and consistency, as well as addressing the environmental concerns. Overall, the tapioca market is a dynamic and growing industry, with plenty of opportunities for businesses.
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Market Challenges
Tapioca, a popular carbohydrate source, offers various health benefits but presents some challenges for the market. Its high glycemic index can cause rapid increases in blood sugar levels, making it unsuitable for some consumers. Improper preparation may lead to cyanide poisoning due to linamarin. Diabetic patients and those aiming to maintain weight should limit intake. The nutrient content is also less compared to other food sources. These complexities may hinder the growth of the global tapioca market.
The tapioca market faces several challenges in the production and distribution process. The primary challenge is the dependence on climate conditions for cultivation. The crop requires a specific temperature range and adequate rainfall, making it susceptible to weather-related risks. Additionally, the market faces challenges in the production consistency due to the variability in the quality of raw tapioca. The supply chain also poses challenges due to the perishable nature of the product and the need for proper storage and transportation facilities. Furthermore, the market is subject to price volatility due to the demand-supply imbalance and the presence of several key players. To overcome these challenges, stakeholders need to focus on improving the cultivation practices, enhancing the supply chain efficiency, and implementing effective pricing strategies.
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Segment Overview
This tapioca market report extensively covers market segmentation by
Application
1.1 Animal feed
1.2 Food and beverage
1.3 Industrial
Type
2.1 Fresh
2.2 Dried
Geography
3.1 APAC
3.2 Europe
3.3 North America
3.4 South America
3.5 Middle East and Africa
1.1 Animal feed- Tapioca is a significant agricultural commodity with a steady market demand. Farmers cultivate it in tropical regions, supplying the industry with raw material. Processors transform tapioca into various forms, such as pearls, flour, and pellets, catering to diverse industries like food and pharmaceuticals. Consumers utilize tapioca in numerous applications, including pudding, desserts, and industrial uses. The market remains stable, driven by consistent demand and a reliable supply chain.
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Research Analysis
In the dynamic market of animal feed, various dietary food products play a significant role in ensuring optimal animal health and productivity. One such essential component is Tapioca, derived from the cassava root. Tapioca serves as an ideal source of carbohydrates, providing energy to animals. In political and social scenarios, the affordability and availability of Tapioca, which includes Starch, Nuts, Grains, and other dietary ingredients, significantly impact the animal feed industry. Tapioca is gluten-free, making it suitable for animals with specific dietary requirements. It also aids in lowering cholesterol levels and improving digestion by providing essential Fiber. Furthermore, Tapioca is rich in essential minerals like Calcium, Folate, Manganese, Iron, and Folic acid, contributing to the overall well-being of animals. In managing blood sugar levels and preventing constipation, Tapioca proves to be a valuable addition to animal feed formulations.
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Market Research Overview
Tapioca, a starchy root vegetable, is a significant component in various industries, including food and beverage, pharmaceuticals, and paper production. The versatile nature of tapioca allows it to be used in a wide range of applications. In the food sector, tapioca is used as a thickener, a binder, and a sweetener. In the pharmaceutical industry, it serves as an excipient in medication production. In paper manufacturing, tapioca is used as a raw material for producing paper and cardboard. The global tapioca market is driven by the increasing demand for natural food additives and the growing usage of tapioca in various industries. The market is segmented based on application, region, and end-use industry. The future outlook for the tapioca market is promising due to its numerous applications and the growing awareness of healthier food options.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Application
Animal Feed
Food And Beverage
Industrial
Type
Fresh
Dried
Geography
APAC
Europe
North America
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio