Cassava Market Overview
The Cassava Market is ready to achieve a CAGR of 4.18% by 2032, with a value of USD 254.28 Billion by 2032.
Cassava is a type of flour considered to be a traditional product made from the roots of Cassava. After rice and maize, the tropical regions grow crucial Cassava crops. Cassava flour is rich in carbohydrates and grown in over 90 countries. In adverse conditions as well, these crops are easily produced extensively. People who belong to Asia, Africa, and Latin America depend on this Cassava Market as this is a major source of income for the farmers from that region. People consume Cassava directly; the processed variants are flour, chips, starch, and pellets. Processed Cassava has many nutritious elements, such as removing toxins and reducing weight, and the product's value will be increased.
The cassava market in Spain is a niche but growing segment of the food industry, driven by the increasing demand for gluten-free and alternative flour products. Cassava, also known as yuca or manioc, is a starchy root vegetable native to South America but cultivated in tropical and subtropical regions worldwide, including Spain. It is a staple food for millions of people in developing countries and is gaining popularity in developed countries due to its versatility and nutritional benefits.
The cassava Market is growing enormously because of its diverse nature. It is used for textiles, cardboard, ethanol, and paper other than food. It is determined that the global market will increase its growth in the future due to its flourishing demand. The food industry is the main source of the Cassava market. Households and industries have adopted the usage of Cassava due to its rich nutritious content.
The sudden emergence of the Covid-19 pandemic has made the global industries wrecked. The Cassava Market also faced the ruining factors of the market on its marketing strategies. Due to the imposition of the lockdown, people strictly lived in their homes, resulting in low production. The market demand was not fulfilled due to the low production of the Cassava. The consumption rate of the Cassava also degraded day by day. But the post-Covid-19 situation will be fruitful for the market as per the analysis.
Competitive Dashboard
Cargill Incorporated (US), Ingredion Inc. (US), Venus Starch Suppliers (India), Grain Millers, Inc. (US), Parchem fine & specialty chemicals (US), Psaltry International Limited (Nigeria), Dadtco Philafrica B.V. (Netherlands), Roquette Frères (France), Archer Daniels Midland Company (US), Woodland Foods (US), Tate & Lyle Plc (UK), Mhogo Foods Ltd. (Kenya), American Key Food Products Inc. (US), Agrideco Vietnam Co., Ltd. (Vietnam), and Otto's Naturals (New Jersey) are some of the global cassava key market players.
Market Segmentation
Segmentation of the Cassava Market is fractionated according to its category, application, form, and region. As per the category, the market is recognized as organic and conventional. The market is subjected to dry and liquid if we discuss the form.
The application of the Cassava market is very ingenious and widespread. Mostly the product is used in bakeries, beverages, confectionery, frozen desserts, dairy, animal feed, sweet and savory, and others.
Categorizing the market based on region, the spread of the production is highly mannered in North America, Canada, Europe, and Mexico. Germany, Spain, Italy, and France are included in Europe. The Asia Pacific is also a dominating region, including China, Japan, India, Australia, and New Zealand.
Industry News
One of the multinational food processing companies, Archer-Daniels-Midland, complied with the agreement of buying the remaining 50 percent stake in British grain and oilseed producer Gleadell from a French company.
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