DUBLIN–(BUSINESS WIRE)–Feb 26, 2019–The “Cassava Starch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024” report has been added to ResearchAndMarkets.com’s offering.

The global cassava starch market reached a production volume of more than 8 Million Tons in 2018, registering a CAGR of 4.73% during 2011-2018. The market volume is further projected to cross 10 Million Tons by 2024, at a CAGR of 3.76% during 2019-2024.

Market Drivers

Being a rich source of carbohydrates, cassava starch is used as a major ingredient in a number of food products. The global food industry is currently growing at a rapid pace due to urbanization, expanding working population and rising household incomes, especially in the emerging nations like India and China. This is has led to an increase in the demand for ready-to-eat food products which has stimulated the growth of the cassava starch industry.

Earlier, the usage of cassava starch was largely confined to food applications, however, owing to its easy availability, it is also being utilized for non-food applications like manufacturing pharmaceuticals, adhesives, papers, etc. Growth in these end-use industries is providing a thrust to the market growth.

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In the textile industry, cassava starch is used for sizing, finishing and printing due to its flexibility, resistance to abrasion and the ability to form a bond with the fiber. In finishing, cassava starch is utilized to cover blemishes or defects and provide a finishing look to the end product. Increasing westernization is fueling the growth of the textile industry, in turn, boosting the cassava starch market.

The growing health consciousness along with the rising cases of diabetes have stimulated the demand for artificial sweeteners across the globe. The increasing demand for these sweeteners is expected to drive the cassava starch market in the coming years.

Breakup by End-Use

Based on end-use, the report finds that the sweeteners industry accounts for the majority of the total market share. Cassava starch is highly preferred for the production of sweeteners as a result of its high level of purity, excellent texture, thickening properties and neutral taste. It is followed by MSG/lysine, food industries, paper industries, modified starch, sago pearl and textile.

Regional Insights

On a geographical front, Asia Pacific represents the largest producer of cassava starch, holding around three-fourths of the total share. Cassava starch is comparatively cheaper and occupies agriculturally marginal areas due to which economically backward farmers are able to cultivate the crop. Asia Pacific is followed by Africa, Latin America and Others.

Competitive Landscape: