Cassava Market Share, Industry Trend, Future Demand and Expected to Grow at CAGR of 3% During 2018 to 2023

pune, India -- (SBWire) -- 05/14/2018 --Market Overview:
Cassava Market is projected to grow at a CAGR of 3% over the forecast period. Cassava is a woody shrub, which belongs to euphorbiaceous family, cultivated in tropical and subtropical regions. It a rich source of carbohydrates, calcium, manganese, and iron. Cassava has a neutral taste and is used in the food and beverage products. It is used for producing gluten-free flour, animal feed, confectionary products, and a substitute of sucrose in beverages. Cassava is helpful in reducing cholesterol level owing to high amount of fiber content. Furthermore, it has the high demand from the paper, textile, adhesive and other commercial industries

Asia Pacific is the leading market for cassava and is expected to grow substantially over the forecast period 2017-2023. In Asia Pacific region, China, Thailand, and Indonesia are the major consumers of cassava. The high demand for gluten-free carbohydrate food and commercial industrial applications has increased the demand for cassava in this region.

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Furthermore, the demand for organic cassava by the health-conscious population is expected to hinder the growth rate of the market in the upcoming years. Considering these factors, Asia Pacific is projected to grow at a CAGR of 2.5% during the forecast period 2017-2023

Major Key Players:
This report includes a study of strategies such as mergers, acquisitions, and product launches by the major cassava market players. It further includes product portfolios, developments of leading players, which includes

Ingredion Inc. (U.S.)
Tate & Lyle (U.K.)
Venus Starch Suppliers (India)
American Key Food Products LLC (U.S.)
Cargill (U.S.)
Grain Millers, Inc. (U.S.) and
Parchem fine & specialty chemicals (U.S.)

The global cassava market is segmented on the basis of form, chips, pellets, and pearls holds a major share amongst the forms available. On the basis of application, the food & beverage segment holds a major market share. Furthermore, on the basis of product type, the conventional cassava has a high demand in market.

Key Findings:
The demand for cassava has increased from the food & beverage and commercial industries

Top exporters of cassava across the globe are Thailand, Vietnam, Cambodia, and the Netherlands

Segments:
On the basis of form, the market is segmented into animal feed, flour, chips, pellets, and pearls, and others. Among all, chips, pellets, and pearls forms have the highest share in the market. These forms are easy to synthesize and have a wide range application.

The global cassava market is segmented on the basis of application, which includes food and beverage, animal feed, and others. Among all, the food and beverage segment holds a major share followed by industrial applications. It is used in the making of gluten-free flour owing to high carbohydrate content, which is beneficial for gluten intolerance patients. It is also used in the laundry industry owing to high starch content.

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Cassava market is segmented on the basis of product type, which comprises of conventional and organic product. Conventional cassava product holds major market share is due to high production capacity. However, organic cassava is expected to contribute more to the market growth. Consumer shift towards organic products is considered to be the major factor for such rise.