Market Research Report
Global Tapioca Syrup Market - 2022-2029
|Global Tapioca Syrup Market - 2022-2029|
Published: May 7, 2022
Content info: 180 Pages
Delivery time: 2 business days
The global tapioca syrup market is valued at USD XX million in 2021 and is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
Tapioca syrup is a natural liquid sweetener made from tapioca starch from the cassava root. This clear, flavorless syrup is commonly used in the food and beverage sector to sweeten various goods. Tapioca syrup is used as a substitute for sucrose since it has a higher nutritional value than sugar crystals and has a similar composition to sucrose. The growing consumption of bakery products, such as waffles, pancakes, French toast, and others, along with the increasing demand for healthier beverages like energy drinks, is aiding the growth of the industry.
Growing health consciousness to boost tapioca syrup market growth
The demand for natural and healthier sweeteners from the key end-use sectors is driven by increased consumer health awareness. Because tapioca syrup has fewer calories and carbs than sugar, is plant-based, and has additional health benefits over sucrose, its use in food, beverages, dairy, and pharmaceuticals is rising. The rising demand for baked goods, confectionery, ready-to-drink beverages, and other products are helping to propel the business forward. Improved disposable incomes, a burgeoning retail sector, rising living standards, and technology improvements support the industry. The growing demand for organic and vegan food products is likely to fuel demand for tapioca syrup in various applications throughout the forecast period. This is predicted to positively impact market growth over the next five years. Because of the growing demand for tapioca syrup as a flavoring element in various food products, several producers are introducing healthier product options.
Additionally, tapioca syrup's nutritional and other advantages over sucrose lead to increased demand in the food and beverage industry. It can be used as a substitute for highly processed sugar and corn syrup and more natural alternatives like honey and maple syrup. Moreover, tapioca syrup has even gained approval for gluten-free and grain-free diets, and, if organic, it is free from pesticides or genetically modified elements. Thus, the highly adaptable character of tapioca syrup allows the makers to utilize it as a natural or healthier sweetener and as binding or texturizing agents for anything from beverages to sweets and processed meats to pie fillings and sauces.
Tapioca syrup is the dominating segment during the forecast period
Tapioca syrup is used as a flavoring agent in bakery items such as baking powder, waffles, pancakes, French toast, and oatmeal, among others. As a result, this segment is experiencing significant expansion. Tapioca syrup is also used for flavoring a wide range of food products such as hot cereal, ice cream, sausages, fruit juices, corn fritters, baked beans, baking powder, fresh donuts and baked apples. Based on distribution channels, online channels held the highest market revenue share of XX% in 2020. The expansion of end-product distribution channels, aided by the growth of big retailers such as Walmart and Amazon, is likely to move the market forward.
Asia Pacific is expected to be the fastest growing region during the forecast period
The thriving food and beverage industry in the Asia Pacific is likely to see higher product demand because of the thriving food and beverage industry. Increased demand for tapioca syrup as a flavoring agent in various food products has boosted the worldwide tapioca syrup market's growth. As a result, the market's revenue contribution is expected to grow significantly over the forecast period. Cargill is expanding its specialized tapioca starch capabilities in Asia-Pacific by working with Starpro, a significant food-grade tapioca starch producer in Thailand. The deal will encompass a wide range of locally manufactured modified tapioca starches for use in the food industry in markets throughout the region and around the world. The collaboration will help food manufacturers satisfy their product processing needs while meeting consumer sensory expectations.
The global tapioca syrup market is highly competitive in nature having a large number of domestic and multinational players competing for sizeable market share. Sunrise International Inc., Briess Products Ltd., Ciranda, Marigold Inc., KB Ingredients, and others are among them. In the worldwide tapioca syrup market, the firms are likely to develop their business by diversifying their product portfolio. Grain Processing Corporation introduced MALTRIN® T-Series in December 2016, a new tapioca-based MALTRIN® maltodextrin and syrup solids product line extension that offers a wide range of dextrose equivalents (DE) in powdered form, ranging from 4 to 40. To meet the infant grade quality requirements and assure consistency, the product is manufactured to exacting specifications. Over the projection period, such changes are expected to present the industry with increased growth potential.
Negative impact on the global tapioca syrup
The outbreak of COVID-19 has had a significant impact on the tapioca syrup business, as supply chains have been disrupted due to trade restrictions, and consumption has decreased as a result of government-imposed lockdowns around the world. Food and beverage industries rely on domestic and foreign sources for raw materials. Because many governments-imposed restrictions on the transportation of products across borders and within countries, firms were forced to suspend production owing to a scarcity of raw materials. The reduction was further aided by limitations on the sale of non-essential products and the fear of contamination through manufacturing facilities.
Understand the current market scenario and viability of global tapioca syrup market over the forecast period
Visualize the composition of the global tapioca syrup market in terms of source, DE levels, application and distribution channel to identify major players, growth potential, and market strategies
Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Excel data sheet with valuable data points of the global tapioca syrup market - Regional and Country level segmentation
Product mapping in excel for the key products of all major market players
Market Share Analysis covering business revenues ($) and revenue share (%) of key market players
The global tapioca syrup market report would provide an access to approximately 60 market data tables, 57 figures and 180 pages
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