Asia-Pacific Cassava Market Trends with Demand by Regional Overview, Forecast 2032
Cassava Market Overview
The Cassava Market is ready to achieve a
CAGR of 4.18% by 2032, with a value of USD 254.28 Billion by 2032.
Cassava is a type of flour considered to be
a traditional product made from the roots of Cassava. After rice and maize, the
tropical regions grow crucial Cassava crops. Cassava flour is rich in
carbohydrates and grown in over 90 countries. In adverse conditions as well,
these crops are easily produced extensively. People who belong to Asia, Africa,
and Latin America depend on this Cassava Market as this is a major source of
income for the farmers from that region. People consume Cassava directly; the
processed variants are flour, chips, starch, and pellets. Processed Cassava has
many nutritious elements, such as removing toxins and reducing weight, and the
product's value will be increased.
The Asia-Pacific
cassava market is experiencing rapid growth, driven by the increasing
demand for cassava-derived products in various industries. Cassava, also known
as manioc or yuca, is a staple food in many parts of Asia-Pacific and is also
used in the food and beverage industry, as well as the animal feed and
industrial sectors.
The cassava Market is growing enormously
because of its diverse nature. It is used for textiles, cardboard, ethanol, and
paper other than food. It is determined that the global market will increase
its growth in the future due to its flourishing demand. The food industry is
the main source of the Cassava market. Households and industries have adopted
the usage of Cassava due to its rich nutritious content.
The sudden emergence of the Covid-19
pandemic has made the global industries wrecked. The Cassava Market also faced
the ruining factors of the market on its marketing strategies. Due to the
imposition of the lockdown, people strictly lived in their homes, resulting in
low production. The market demand was not fulfilled due to the low production
of the Cassava. The consumption rate of the Cassava also degraded day by day.
But the post-Covid-19 situation will be fruitful for the market as per the
analysis.
Competitive Dashboard
Cargill Incorporated (US), Ingredion Inc.
(US), Venus Starch Suppliers (India), Grain Millers, Inc. (US), Parchem fine
& specialty chemicals (US), Psaltry International Limited (Nigeria), Dadtco
Philafrica B.V. (Netherlands), Roquette Frères (France), Archer Daniels Midland
Company (US), Woodland Foods (US), Tate & Lyle Plc (UK), Mhogo Foods Ltd.
(Kenya), American Key Food Products Inc. (US), Agrideco Vietnam Co., Ltd.
(Vietnam), and Otto's Naturals (New Jersey) are some of the global cassava key market
players.
Market Segmentation
Segmentation of the Cassava
Market is fractionated according to its category, application, form, and
region. As per the category, the market is recognized as organic and
conventional. The market is subjected to dry and liquid if we discuss the form.
The application of the Cassava market is
very ingenious and widespread. Mostly the product is used in bakeries,
beverages, confectionery, frozen desserts, dairy, animal feed, sweet and
savory, and others.
Categorizing the market based on region,
the spread of the production is highly mannered in North America, Canada,
Europe, and Mexico. Germany, Spain, Italy, and France are included in Europe.
The Asia Pacific is also a dominating region, including China, Japan, India,
Australia, and New Zealand.
Industry News
One of the multinational food processing
companies, Archer-Daniels-Midland, complied with the agreement of buying the
remaining 50 percent stake in British grain and oilseed producer Gleadell from
a French company.
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