The global market for tapioca, estimated at USD 4.1 billion in the year 2023, is projected to reach a revised size of USD 6.3 billion by 2033. This is growing at a CAGR of 4.4% over the analysis period.
Due to its wide agroecological adaptability and ability to produce higher yields for lower investment, cassava plants are helping end-use industries meet the increasing demand for tapioca starch. Market growth is expected to continue to be driven by the widespread application of tapioca starch across a wide range of industries, including food and beverage and animal feed.
It is anticipated that the market will grow by 6,999 thousand tons by 2023. Market growth is influenced by several factors, such as alternatives to gluten and grain foods, the health benefits of tapioca, and the increasing demand for sweet, savory, and bakery products.
Various growth opportunities are forecast for the tapioca market in the upcoming years since tapioca is used in various industries. Considering that tapioca is gluten-free, grain-free, and high in carbohydrates, it has an imperative role to play in preventing celiac disease, gluten sensitivity, and food allergies. Therefore, the tapioca market is expected to grow significantly as a result of these medical benefits.
Tapioca is the starch that has been extracted from the roots of cassava. In tropical countries, tapioca is also widely consumed as a staple food. It is native to South Africa. Several manufacturers and industrial companies use tapioca starch for multiple purposes in developed regions. It is also used for thickening and stabilizing.
As a result, starch is expected to gain traction in various dietary food products in the coming years. Consequently, the tapioca market is expected to grow.
| Attributes | Details |
|---|---|
| Tapioca Market Value (2023) | USD 4.1 billion |
| Tapioca Market Expected Value (2033) | USD 6.3 billion |
| Tapioca Market Projected CAGR (2023 to 2033) | 4.4% |
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The global tapioca market expanded at 5% CAGR over the past ten years. Tapioca flour is one of the main products made from Tapioca. It is used to make many infant foods such as biscuits, bread, custard powder, salad dressings, ice cream powder, vermicelli, flakes, etc. Various foods can be prepared with this product, which is why it has been imported to North America from Asia and Africa. As a result, such uses of Tapioca in such industries are likely to propel market growth. The market is expected to expand at a CAGR of close to 4.4% over the forthcoming decade.
Short Term (2022 to 2025): Due to inflation fears and decreased demand, companies will slow down investments as they seek to combat inflation by raising interest rates. This will affect economic activity and growth as well as new job creation.
Medium Term (2025 to 2028): Volatile financial markets, growing trade tensions, and the stricter regulatory environment are on the rise, which may compound the complexity of the challenges faced.
Long Term (2028 to 2033): Leaders and businesses can chart a path forward with resilience and adaptability when they can chart a path forward with resilience and adaptability.
| Historical CAGR (2016 to 2022) | 5% |
|---|---|
| Historical Market Value (2021) | USD 3.76 billion |
| Forecast CAGR | 4.4% |
Health Benefits are Notably Driving Market Growth
Unlike nuts, grains, or gluten, tapioca does not cause food allergies, celiac disease, or gluten sensitivity due to its high carbohydrate content. Besides lowering cholesterol, tapioca flour is rich in fiber, which helps maintain blood sugar, prevent constipation and lower cholesterol.
This flour contains more energy and calories than other flours made from nuts and grains. It is also to digest than other flours made from nuts and grains. The nutrients found in tapioca flour include calcium, folate, manganese, and iron. It also contains folic acid, which prevents neural tube defects and anemia in pregnant women.
Moreover, it also contains a low level of sodium. This increase will boost the growth of the global market during the forecast period as sodium-rich foods cause high blood pressure, strokes, and heart disease. They also prolong the feeling of satiety and prevent overeating.
Tapioca Starch is Used in Numerous Applications
In addition to thickening and stabilizing food, tapioca starch is widely used. As a result, the global tapioca starch market is expected to grow in the coming years due to its high carbohydrate content and ability to prevent various food allergies. Tapioca starch also helps maintain blood sugar levels and reduces cholesterol levels.
A Rise in Demand for Organic Meat
The tapioca starch market is expected to grow in the coming years due to increased female labor force participation, which has boosted the demand for infant formula. Tapioca starch is widely used as a bulking agent in baby food products and infant nutritional supplements available commercially. In India, cassava extract is popular as a superfood because of its many health benefits.
Principal Consultant
The global dry tapioca market is expected to record strong growth owing to the medical benefits associated with tapioca products. Furthermore, dry tapioca can also be used to create corrective items, which contributes to the growth of the dry market.
As a result, the worldwide dry market is expected to expand rapidly during the estimated time frame owing to these driving variables. The popularity of tapioca starch has led manufacturers to introduce more innovative ways to process and package it.
Additionally, new recipes using tapioca starch have recently gained popularity around the world. Modern consumers are becoming more aware of product labeling and prefer clean-labeled products, in response to changing consumer consumption patterns. Manufacturers see novel packaging designs as a key sales strategy for modern customers.
Due to improper processing methods, tapioca contains increasing levels of cyanide, which causes chronic toxic effects. This is likely to continue to challenge the tapioca market in the forecast period.
Market growth is slowed by health issues related to excessive consumption of tapioca. However, some side effects may limit the market's growth. The Glycemic index scale is a numerical index that measures the effect of certain foods on blood sugar levels.
Tapioca is rich in carbohydrates and has a high Glycemic index. A higher value is assigned to foods that cause a rapid rise in blood sugar, so consuming more tapioca can increase blood glucose levels in the human body rapidly.
The high amount of carbohydrates in tapioca makes it undesirable for diabetics. Tapioca contains the compound linamarin, which converts into cyanide in the body, causing cyanide poisoning if not cooked properly.
Moreover, it has fewer nutrients than other foods, making it not suitable for consumers who want to maintain their weight because it increases weight without increasing fat levels. Therefore, several complex issues relating to excessive consumption may hinder the market growth during the forecast period.
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Animal feed is one of the most significant application areas for tapioca. It is projected to grow by 5% CAGR and reach USD 2.3 billion by the end of the analysis period. Compared to other starches, tapioca is more economical and is therefore used extensively in compound animal feeds.
Growing income levels in Asia Pacific (APAC) are driving a rapid increase in the demand for tapioca feed (cassava pomace), which in turn is boosting the demand for livestock products. All these factors are expected to boost the growth of this segment during the forecast period. Tapioca flour's growth rate for the next ten years will be revised to 4.2%.
There are several growth opportunities for market vendors in the Asia Pacific region during the forecast period, as the Asia Pacific is the largest tapioca market in 2023. Over the forecast period, tapioca market growth in India and China will be largely driven by the consumption of confectionery and bakery products.
The market in Asia Pacific is forecast to reach USD 738.6 million by the year 2033. The Chinese, Thai, and Indonesian markets are the biggest markets for tapioca in the Asia Pacific, with market growth in these regions being faster than in other regions.
The USA dominates the North American Tapioca market with a total share of 65% in 2023 and is projected to continue exhibiting high demand through the course of the forecast period.
The USA Tapioca market is estimated to grow at a CAGR of 2.2% and is projected to surpass the value of USD 1.1 billion in 2023. Since tapioca is fed to animals (such as swine, poultry, and others) in the form of pulp, meal, and pellets, its use as animal feed will drive market growth during the forecast period.
Germany dominates the Europe Tapioca market, with a share of 25%. The German Tapioca market is estimated to grow at a CAGR of 2.2%. Many cassava by-products are being offered by market players, further boosting the growth of the regional market. Cassava starch, cassava chips, cassava meal, and fresh cassava are exported to Europe in large quantities.
Increasingly, gluten-free products are used due to significant amounts of consumers suffering from gluten allergies or coeliac disease. Adults and youth are being diagnosed at an increasing rate; these products have significantly influenced the market growth.
China holds a 50% share of the East Asia market and is projected to expand at a CAGR of over 8.1%. The market size of USD 1.8 billion by the year 2033. Among the world's largest importers of tapioca products, primarily chips, and flour, China ranks among the top three countries.
Furthermore, vendors on the market have begun to incorporate e-commerce channels into their sales strategy. Additionally, bakeries and confectioneries have reopened to increase demand for tapioca in the country. There has been a rise in tapioca consumption in China due to tapioca's related benefits among the rising millennial population. Such factors are anticipated to drive the regional market during the forecast period.
Tapioca manufacturing can produce high-quality products at an affordable price, but starting a business can be difficult. As a result of the availability of cost-effective raw materials, tapioca products are expected to be launched in the near future, providing ample market potential.
Several businesses will offer this product if the market continues to grow. Small producers and companies will develop cost-effective solutions to meet the increasing demand as a result of unabated market growth.
Several strategies are employed by key manufacturers to compete in an increasingly competitive environment, including new product launches and approvals, mergers and acquisitions, partnerships, and collaborations.
Recent Development:
Key players are focusing on novel and innovative approaches for the development of new products. The strategy of expansion, new product launches, and approvals, by key manufacturers, is further strengthening their market presence and staying ahead of the competition.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2023 |
| Market Analysis | USD million for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; The Middle East and Africa; East Asia |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Chile, Peru, Germany, The United Kingdom, Spain, Italy, France, Russia, Poland, China, India, Japan, Australia, New Zealand, GCC Countries, North Africa, South Africa, and Turkey |
| Key Segments Covered | Type, Uses, Applications, Product, Region |
| Key Companies Profiled | Authentic Foods; Cargill Inc.; Ciranda Inc.; Ekta International; Emsland Starke GmbH; Hunan Kang pharmaceutical Ltd.; Ingredion Inc.; Jayavel Sago Factory; KengSeng Group of Co.; Malt Products Corp.; Parchem Fine and Specialty Chemicals Inc.; PT Budi Starch and Sweetener Tbk; Royal Ingredients Group BV; Sonish Starch Technology Co. Ltd.; SPAC Starch Products India Pvt. Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is valued at USD 4.1 billion in 2023.
Authentic Foods, Cargill Inc. and Ciranda Inc. are key market players.
The market will reach USD 6.3 billion by 2033.
Texture, versatility, and gluten-free appeal drive tapioca sales.
Animal feed is likely to remain preferred through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 5.1. Bitter Cassava 5.2. Sweet Cassava 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 6.1. Pearls 6.2. Flour 6.3. Granules 6.4. Flakes 6.5. Pellets 6.6. Syrup 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Food & Beverages 7.2. Industrial Processing 7.3. Animal Feed 7.4. Other Applications 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Function 8.1. Thickening Agent 8.2. Stabilizing Agent 8.3. Binding Agent 8.4. Other Functions 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. Middle East and Africa (MEA) 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Cargill, Inc. 17.2. Tate & Lyle PLC 17.3. Emsland-Stärke GmbH 17.4. Navin Chemicals 17.5. Pruthvi’s Foods Pvt. Ltd. 17.6. Vaighai Agro Products Ltd. 17.7. Sonish Starch Technology Co. Ltd. 17.8. American Key Food Products 17.9. Ingredion Inc. 17.10. Vietnam 18. Assumptions & Acronyms Used 19. Research Methodology
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Tapioca Market
