According to the latest report by IMARC Group, titled “Cassava Processing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached 253 Million Tons in 2018. Cassava is one of the most popular feedstocks for starch production that offers numerous advantages for starch production including a high level of purity. Cassava starch also has excellent thickening characteristics, neutral taste and desirable textural characteristics which are advantageous in many industrial applications. Cassava processing is often seen as an attractive option as it provides a means of converting a relatively low-cost raw material into high-value products.
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Global Cassava Processing Market Trends:
Cassava products are utilized in numerous industries which represents the key factor driving the industry growth. In the textile industry, cassava starch is applied as a sizing agent to stiffen and protect the thread for improved weaving efficiency. Besides this, many feeding experiments have shown that cassava provides a good quality carbohydrate which can substitute maize or barley in animal feed, especially for swine, dairy cattle and poultry. In the food industry, cassava starch is used in bakery items, such as biscuits, cookies and bread as well as to manufacture confectioneries like gums, pastes and other types of sweets. In addition, it acts as a thickener in soups, baby foods, sauces and gravies and as a binder in sausages and processed meats to prevent them from drying out during cooking. Further, cassava is processed into various ready-to-cook or ready-to-eat products such as cassava chips, cassava-shrimp sticks, cassava butter cakes and cassava coconut cookies. This value-addition is expected to augment the market for cassava and cassava processing in both small and medium terms. Moreover, technological advancements in the cassava drying technique have made cassava processing energy efficient. As a result of these factors, the market is projected to reach a volume of 346 Million Tons by 2024, growing at a CAGR of 2.2% during 2019-2024.
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- Based on the end use, the market has been segregated into food industry, feed industry and others. Food industry currently represents the largest segment, accounting for the majority of the global market share.
- On the basis of the country, Nigeria is the largest producer of cassava worldwide. Other major countries include Thailand, Indonesia, Brazil, Ghana, Congo and others.
- The competitive landscape of the market has also been examined with some of the key players being Cargill, Avebe Food Investments B.V., Global Bio-Chem Technology Group Company Limited, Ingredion Incorporated, Emsland-Stärke Gesellschaft Mit Beschränkter Haftung, Siam Modified Starch Company Limited and Eiamheng Tapioca Starch Industry Company Limited.
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