Asia Pacific Cassava Processing Market Share, Trends, Growth, Analysis, Report, Forecast 2023-2028
The new report by Expert Market Research titled, ‘Asia Pacific Cassava Processing Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the Asia Pacific cassava processing market, assessing the market based on its segments like product type, application and major regions like Indonesia, China, Thailand, Vietnam, Japan, and the Philippines, among others.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): 261 million tons
- Forecast CAGR (2023-2028): 3%
The market for Asia Pacific cassava processing has seen substantial growth due to factors such as its growing applications in the end-use industries. It is also widely used in the textile industry as a stiffening and protective agent to improve the thread’s weaving speed. It may also be used as a substitute for maize or barley in animal feed. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the Asia Pacific cassava processing market.
The increased use of cassava in the food industry has a major impact on the demand for processed cassava. Cassava flour is commonly used in the production of bakery goods such as cakes, biscuits, cookies, and bread. Processed cassava is commonly used in the production of confectioneries such as gums, candy, and other similar products. Soups, sauces, baby food, gravies, and other dishes will all benefit from it.
The use of cassava as a binder for sausages and processed meats to keep the cassava from drying has aided the demand for processed cassava. It is also used to make things like cassava chips, shrimp sticks, cassava butter cakes, and cookies. The market is growing due to the increasingly increasing demand for HFCS and paper production.
Industry Definition and Major Segments
Cassava is a tropical plant whose various sections, such as roots, leaves, and stem, can be used to make a variety of foods. Cassava’s starchy roots are a high-energy (carbohydrate) source for a variety of food crops, and they can be processed into cassava pellets, chips, flour, and starch. The majority of the commodity is consumed, while the remainder is processed into starch, flour, pellets, chips, and other forms. Cassava processing aids in the removal of toxins, enhances durability, reduces weight, and increases overall value. Milk, fertiliser, paper and carton, cloth, medicine, glues, and adhesives are only a few of the industries that use processed cassava.
Based on the product type, the industry is divided into:
- Cassava Starch
- Cassava Flour
- Cassava Chips
- Cassava Derived Ethanol
Based on the application, the industry is divided into:
- Food
- Feed
- Industrial
Industrial applications are further divided into the following:
- Biodegradable Products
- Biofuels
- Papers
- Textiles
Based on the country, the industry is divided into:
- Indonesia
- China
- Thailand
- Vietnam
- Japan
- Philippines
Market Trends
Asia Pacific is one of the market’s most significant regions. With countries like China, Japan, and Indonesia, the region is a leading producer of cassava. These countries import massive amounts of refined cassava products like flour, starch, chips, and pellets. China is the world’s largest importer of cassava goods. For both import and export of cassava products, Asia Pacific is the most important field. Thailand, Vietnam, China, and Indonesia are the top exporters of the products in the Asia Pacific region. Thailand and Indonesia will produce approximately 31 million tons and 20 million tons of cassava, respectively, in 2020.
Key Market Players
The major players in the market are Ingredion Incorporated, Siam Quality Starch Co., Ltd., SPAC Starch Products (India) Limited, Sonish Starch Technology Co., Ltd., Eiamheng Tapioca Starch Industry Company Limited, PT Sinar Pematang Mulia, Agrideco Vietnam Co., Ltd., Bangchak Corporation Public Company Limited, Nigerian Starch Mills Limited (NSM Foods), PTT Public Company Limited, Avani Eco, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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