Food and Beverage Industry to Dominate Tapioca Starch Market, accumulating 45% Revenue: Fact.MR Study
Published : 12 Jan 2022 Industry: Food & Beverage
Fact.MR states the global sales of tapioca starch to surpass US$ 8500 Mn by registering a positive CAGR of 6.7% in the assessment period 2022-2032. Tapioca starches’ quality of preventing food allergies and celiac diseases is making it popular for using it in everyday food.
Historically, between 2017 and 2021, the sales of tapioca starch surpassed US$ 4.7 Bn by the end of the aforementioned period. Due to the novel coronavirus pandemic, the demand and supply of tapioca starch suffered losses in the initial quarters. As people are getting concerned about a healthier lifestyle, sales of tapioca starch are expected to retrieve.
Furthermore, different forms of tapioca starch are positively influencing the sales of tapioca starch industry. Moreover, increasing prevalence of gluten-free food from North America and Europe is a key factor driving sales of tapioca starch. Thus, due to the factors mentioned above, demand for tapioca starch will bolster in the forthcoming sales indicator period.
Key Takeaways from the Market Study
- By form, tapioca pearls are expected to hold more than 30% market share for tapioca starch market.
- By application, food and beverage industry is expected to possess more than 45% market share for tapioca starch market.
- Tapioca starch industry expected to garner US$ 60 Mn market revenue for North America.
- Tapioca starch industry expected to possess nearly 35% market share throughout Europe.
“Growing inclination towards a healthy lifestyle has made tapioca starch a popular ingredient for various dishes. Thus, the use of tapioca starch has increased in everyday life. This, in turn, is expected to drive the sales for tapioca starch.” states a Fact.MR analyst.
- In March 2021, Cargill, Inc. added label-friendly tapioca starches to its Slim-Pure line of label-friendly starches. The company is focusing on delivering creamy textures and offering cold storage stability.
- In January 2021, Tate & Lyle PLC announced the expansion of its line of tapioca based starches. The company launched REZISTA MAX thickening starches and BRIOGEL gelling starches. The company is focusing on improving the texture and fluidity of tapioca starches.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global tapioca starch market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of source (Bitter Cassava, Sweet Cassava), form (Tapioca Pearls, Tapioca Flour, Tapioca Granules, Tapioca Flakes, Tapioca Pellets and Tapioca Syrup), packaging (cartons, sachets, stand-up pouches and tins), application (Food & Beverages, Industrial Processing, Animal Feed, Other Applications) across six regions (North America, Latin America, Europe, Japan, Asia-Pacific excluding Japan and Middle East & Africa).
Fact.MR’s Domain Knowledge in Food & Beverages
Our food and beverages consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the food and beverages sector. Our expertise in recognizing the challenges and trends impacting the global food and beverages industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
For more information, refer to our market research report or contact the PR author.
Nandini Roy Choudhury
Sr. Consultant – Food and Beverages