The tapioca market is valued at US$4.1 billion

DUBAI, UAE, Jan. 15, 2023 (GLOBE NEWSWIRE) — In 2023, the market share of tapioca is estimated to be worth US$4.1 billion. By 2033, it will be valued at US$6.3 billion. This is expected to further consolidate the tapioca market share and achieve a CAGR of 4.4%.

The ability to adapt to agro-environment and produce higher yields with less investment, cassava mills help the end-use industries meet the growing demand for tapioca starch. As tapioca starch is widely used in a wide range of industries, including food, beverage, and animal feed, the market is expected to continue growing.

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In the coming years, there will be different growth opportunities for the tapioca market due to its use in a variety of industries. In addition to being gluten-free, grain-free, and high in carbohydrates, tapioca plays an essential role in preventing food allergies, celiac disease, and gluten sensitivity. Therefore, the tapioca market is expected to grow significantly as a result of these medicinal benefits.

“The market is expected to grow by 6,999 thousand tons by 2023. Market growth is influenced by several factors, such as substitutes for gluten and grain foods, health benefits of tapioca, and growing demand for sweet, savory and bakery products.” says a lead analyst at Future Market Insights.

Key takeaways from the market study

  • The tapioca market is expected to grow at a compound annual growth rate of 4.4% during the forecast period.
  • According to estimates, the tapioca market in the Asia Pacific region will remain strong throughout the forecast period.
  • Animal feed is one of the most important areas of use for tapioca and is expected to grow at a 5% CAGR and reach US$2.3 billion by 2033.
  • Maintains tapioca market in China 50% share of the East Asian market and is expected to expand at a compound annual growth rate of more than 8.1%. Market size of US$ 1.8 billion by 2033.

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Competitive scene:

This market is dominated by several notable companies, including Authentic Foods, Cargill Inc. and Ciranda Inc. and Ekta International, Emsland Starke GmbH, and Hunan Kang Pharmaceutical Ltd. and Ingredion Inc. Jayavel Sago Factory, KengSeng Group of Co., Ltd. and Malt Products Corp. and Parchem Fine and Specialty Chemicals Inc. And PT Budi Starch and Sweetener Tbk, Royal Ingredients Group BV, Sonish Starch Technology Co., Ltd. Ltd. and SPAC Starch Products India Pvt. Ltd.

In developed areas, tapioca starch is used by many industrial companies for various purposes, such as thickening and stabilization. The company has adopted other growth strategies, including partnerships, acquisitions, and research and development to efficiently extract tapioca. These strategies led to major developments in the tapioca industry.

Recent developments:

  • Starpro is Thailand’s largest producer and supplier of tapioca starch. Cargill, Inc. plans to to expand operations across the Asia Pacific region in 2021 as a result of this partnership.
  • It was announced in February 2021 that Tate & Lyle PLC will acquire 85 percent of Chaodee Modified Starch Co Ltd in Thailand.

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Segmentation of the tapioca market by category

By types:

By uses:

  • thickening agent
  • stabilizer
  • Bodying agent
  • binding agent

By applications:

  • Food and drink
  • textile industry
  • glue industry
  • Pharmaceutical industry
  • Cosmetic industry, mining industry, construction industry
  • others

High School:

  • Tapioca animal feed
  • tapioca flour
  • Tapioca chips
  • pellets
  • pearls

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content list

1. Executive summary

1.1 Global Market Outlook

1.2 Demand Side Trends

1.3 Supply-side trends

1.4 Technology Roadmap Analysis

1.5 Analysis and recommendations

2. Market overview

2.1. Market coverage/classification

2.2. Market definition/scope/constraints

3. Market background

3.1. Market dynamics

3.1.1. drivers

3.1.2. restrictions

3.1.3. chance

3.1.4. trends

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR accredited business advisory and market research firm, a member of the Greater New York Chamber of Commerce and headquartered in Delaware, USA. Recipient of the Clutch Leaders Award 2022 based on high client scores (4.9/5), we partner with global organizations on their business transformation journey and help them achieve their commercial ambitions. 80% of the largest Forbes 1000 companies are our clients. We serve global clients in all leading market sectors specializing in all major industries.

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