The Global Tapioca Market is witnessing significant growth due to the cassava plant's adaptability and cost-effectiveness in producing tapioca starch. As tapioca starch finds versatile applications in various industries, such as food and beverages, pharmaceuticals, and textiles, the demand remains robust. Its properties as a thickening agent, stabilizer, and binder in food products drive its popularity. Additionally, tapioca starch's use as a gluten-free and non-GMO alternative further enhances its market appeal, fostering steady growth and opportunities for manufacturers and end-use industries.
According to Data Bridge Market Research, the global tapioca market is expected to reach a value of USD 3.96 billion in 2021 and is expected to reach a value of USD 6.61 billion by 2029, at a CAGR of 6.62% during the forecast period of 2022-2029.
"Growth in the food and beverage industry surge market demand"
The food and beverage industry's increasing demand for tapioca is attributed to its multifunctional properties as a thickener, stabilizer, and texturizer. Tapioca starch enhances the texture and consistency of various food products, including puddings, soups, and desserts, offering consumers a pleasant eating experience. Its ability to withstand high temperatures and acidic conditions makes it a preferred choice for food processing and cooking. As consumer preferences for texture and mouthfeel continue to evolve, the versatility and efficacy of tapioca in food applications drive its widespread usage in the industry.
What restraints the growth of the global tapioca market?
"Price fluctuations can impede the market growth”
Price fluctuations in tapioca production can disrupt the market's stability and impact manufacturers' profitability. Weather-related factors, pest infestations, and diseases can lead to varying crop yields and affect tapioca prices. Uncertainty in prices can make it challenging for manufacturers to plan their production and pricing strategies, potentially leading to supply chain disruptions. As a result, the tapioca market may experience periods of volatility, requiring industry players to adapt and manage risks effectively.
Segmentation: Global Tapioca Market
The Tapioca market is segmented on the basis of types, uses, application, and product.
- On the basis of types, the tapioca market is segmented into fresh, dried
- On the basis of uses, the tapioca market is segmented into thickening agent, stabilizer agent, bodying agent, binding agent
- On the basis of applications, the tapioca market is segmented into food, beverage, textile industry, glue industry, pharmaceutical industry, cosmetics industry, mining industry, constructions industry, others
- On the basis of product, the tapioca market is segmented into tapioca animal feed, tapioca flour, tapioca chips, pellets, and pearls.
Regional Insights: Europe dominates the Global Tapioca Market
Europe is emerging as the dominating region in the global tapioca market due to the high prevalence of celiac disease in the continent. Tapioca starch's gluten-free nature makes it a sought-after ingredient in processed foods, ensuring the safety of consumers with gluten intolerance. Moreover, its ability to enhance dough texture, chewiness, and oil release further boosts its demand in gluten-free foods and beverages. As the popularity of gluten-free products grows in Europe, tapioca starch manufacturers are experiencing a surge in demand, consolidating Europe's leading position in the tapioca market.
North America is emerging as a dominant region in the global tapioca market, primarily due to the rising prevalence of celiac disease among its population. Tapioca starch's gluten-free nature makes it a crucial ingredient in various processed foods, ensuring the safety and well-being of individuals with gluten intolerance. Moreover, its ability to improve dough texture, chewiness, and oil release further enhances its appeal in gluten-free food and beverage products. As consumer demand for gluten-free options continues to grow, tapioca starch manufacturers in North America are experiencing a substantial increase in demand, driving the region's prominence in the tapioca market.
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Recent Developments in Global Tapioca Market
- In 2021, Cargill, Inc. formed a strategic partnership with Starpro, Thailand's prominent tapioca starch manufacturer and supplier, with the aim of strengthening its presence in the Asia Pacific market.
- In 2021, Tate & Lyle PLC successfully acquired an 85 percent stake in Chaodee Modified Starch Co Ltd., a prominent player in Thailand's tapioca starch industry, further expanding its portfolio and market reach in the region.
The Prominent Key Players Operating in the Global Tapioca Market Include:
- Hunan Er-Kang Pharmaceutical Co., Ltd (China)
- American Key Food Products (U.S.)
- Cargill, Incorporated (U.S.)
- SPAC Starch Products (India) Ltd (India)
- Ingredion (U.S.)
- Tapioca Starch Industry Co., Ltd (Thailand)
- EIAMHENG TAPIOCA STARCH INDUSTRY CO., LTD. (Thailand)
- Psaltry International Limited (Nigeria)
- Dadtco Philafrica B.V. (South Africa)
- Tapioca Vietnam (Vietnam)
- Lentus Foods & Agro Ltd (Nigeria)
- kengSeng Group Of Company (China)
Above are the key players covered in the report, to know about more and exhaustive list of global tapioca market companies contact, https://www.databridgemarketresearch.com/ko/contact
Research Methodology: Global Tapioca Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
