Global Cassava Processing Market By Region, Growth, Opportunities and Forecast 2018-2023
Global Cassava Processing Market Stimulated by Flourishing Food Industry
United States, 5 February 2018 -- The global cassava processing market has been witnessing a positive growth. This is due to the longer shelf-life and easier transportability of processed cassava products along with an increasing demand for starch and starch products across food industry.
Cassava is a carbohydrate-rich starchy vegetable with a tuberous nature, snowy white inner flesh and brown fibrous skin. It is also known as mandioca, yuca or manioc and is cultivated in subtropical and tropical regions in the form of an annual root. Cassava is grown in more than 90 countries across the world owing to its ability to yield a better production in adverse conditions as compared to other crops. It is processed by using several methods to transform into different products which are consumed in various forms. A new research report by IMARC Group, titled “Cassava Processing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market reached a volume of 284.9 Million Tons in 2017. The report further anticipates the market to reach a volume of 309.7 Million Tons by 2023, exhibiting a CAGR of 1.4% over the forecast period.
Global Cassava Processing Market Drivers/Constraints:
The demand for processed cassava products is rapidly increasing as they have longer shelf-life and are easier to be transported as compared to fresh cassava roots which are perishable and bulky in nature.
Processed cassava products find their applications in several industries including ethanol, paper and cardboard, textiles, food and pharmaceuticals. This, in turn, is driving the growth of the global cassava processing market.
Cassava has a higher concentration of starch which can be easily extracted on a small scale with limited capital. This is another factor which is positively adding to the rise in demand for the products that are prepared with cassava processing.
However, the root of the cassava plant includes cyanide which may cause vomiting, dizziness, nausea, diarrhoea, weakness and death, if not processed properly. This acts as a hindrance towards the growth of the market.
Based on end-use, the report finds that food use currently represents the largest segment of cassava processing. This is due to the rising demand for starch and starch products across the food industry. Food use is followed by feed use.
On a geographical front, Nigeria is the leading region in the global cassava processing market. This can be accredited to the development of improved varieties of cassava in the region. Nigeria is followed by Thailand, Indonesia, Brazil and Congo.
The global cassava processing market is highly fragmented with a presence of various small and large manufacturers who compete in terms of quality and prices. As a result, it becomes difficult for small players to survive as there is an intense competition in the market. Some of the leading players operating in the market are:
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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