Market Overview:

Cassava is a woody shrub and is extensively cultivated as an annual crop in subtropical and tropical regions. Its starchy tuberous roots are rich source of carbohydrates, after rice and maize. Market Research Future (MRFR) has published a report stating that the global cassava market is marked to expand steadily during the forecast period of 2017-2023.

Market Drivers and Restraints:

Cassava is majorly used for in the form of flour, as a gluten-free source of carbohydrates. Increasing popularity of gluten-free and nut-free diet is inducing high demand for cassava in the food and beverages industry as a substitute for gluten-rich flour, which in turn is propelling the growth of the global cassava market. Currently, cassava is represented as one of the most famous feedstocks. Rise in demand for cassava as a feedstock owing to its high nutritive value is one of the factors that are driving the global cassava market towards higher verticals.

cassava starch can be extracted by using easy extraction procedure, unlike other starches. Increasing demand for cassava as a cheap source of raw material which contains high concentration of starch is fueling the growth of the global cassava market. The neutral taste of cassava flour and excellent textural quality makes it ideal for use in starch beverages, sweeteners and other. Increasing utilization of cassava for manufacturing textiles, adhesives and paper is generating demand for cassava in the global market, resulting in the expansion of the global cassava market.

introduction of processed products which have longer shelf life and are made by removing the toxins from cassava is impacting positively on the growth of the global cassava market. However, shift of consumer interest towards organic cassava rather than processed products is likely to pose a threat to the expansion of the global cassava market during the forecast period.

Market Segmentation:

The global cassava market has been segmented on the basis of form, application and product type. based on form, the cassava market has been segmented into animal feed, chips, flour, pearls and others. Based on product type, the global cassava market has been segmented into conventional and organic product. The conventional product segment accounts for the major share in the global cassava market due to the high production capacity. however, the shift of consumer interest towards organic products is aiding the growth of the organic product segment in the global cassava market. Based on application, the cassava market has been segmented into animal feed, food beverages, industrial and others. The food and beverages segment accounts for the major share in the global cassava market owing to the widespread application of cassava in the production of gluten-free products.

Regional Analysis:

Geographically, the global cassava market has been segmented into Europe, North America, Asia Pacific and the rest of the world. The Asia Pacific market is leading the global cassava market with a major market share owing to the high cultivation and export of cassava in the tropical areas of this region. The North America region is anticipated to expand rapidly in the global cassava market owing to the increasing demand for rich source of carbohydrate for gluten-free food products.

Industry Updates:

In October 2018, the Federal Government has announced that it is partnering with the International Institute of Tropical Agriculture (IITA) for developing an application that is designed to transform analogue certification system to a digital system and is called Cassava seed Tracker. This app is equipped with digitalized processes that make real-time reporting of cassava seed field certification easier.

In September 2018, the International Institute of Tropical Agriculture (IITA) has announced that it is planning to work with the Taraba State Government To transform cassava in the framework of the African Development Bank-funded Technologies for African Agriculture Transformation (TAAT) program.

Key players:

The prominent players profiled by MRFR that are operating in the global cassava market are Food Products LLC (the U.S.), Cargill (the U.S.), Ingredion Inc. (the U.S.), Tate Lyle (the U.K.), Venus Starch Suppliers (India), Grain Millers, Inc. (the U.S.), Parchem fine specialty chemicals (the U.S.) and others.