PUBLISHER: Market Research Future | PRODUCT CODE: 1176636
PUBLISHER: Market Research Future | PRODUCT CODE: 1176636
The China & ASEAN cassava starch-based products market has witnessed rapid growth over the last few years and is projected to expand at a CAGR of 4.81% during the forecast period. Rising gluten-intolerance population in China & ASEAN countries is anticipated to act as one of the significant factors for the rising growth of cassava starch-based products market during the forecast period. Moreover, the mounting growth of textile industry is expected to augment the sales of cassava starch-based products market. The fluctuating price of cassava starch is anticipated to restrict the sales of cassava starch-based products market. Starch obtained from the roots of cassava plant is known as cassava starch or tapioca starch. It is a rich source of carbohydrates and is used as a substitute of potato starch.
The China & ASEAN cassava starch-based product market is expected to register a notable growth rate during the forecast period. The increasing gluten-intolerant population and growing textile industry are considered one of the major factors for the rising growth of the China & ASEAN cassava starch-based product market. Additionally, the diverse application of cassava starch in various non-food industries provides growth opportunities to the market for the forecast period. However, price fluctuations of cassava starch and wastewater generated from cassava processing are hampering the market's growth.
Based on product type, the China & ASEAN cassava starch-based product market has been segmented into tapioca, dextrin, glucose syrup, maltodextrin, and biodegradable polymers. The tapioca segment accounted for the largest market share of 59.01% in 2020.
Based on category, the China & ASEAN cassava starch-based product market has been segmented into conventional and organic. The conventional segment accounted for the largest market share of 90.47% in 2020 and organic segment is projected to exhibit the highest CAGR of 5.47% during the review period.
Based on application, the China & ASEAN cassava starch-based product market has been segmented into food & beverages, pharmaceuticals, personal care, textile, and others. The food & beverages segment has been further segmented into bakery & confectionery, beverages, breakfast cereals, sweet & savory snacks, and others. The food & beverages segment accounted for the largest market share of 49.17% in 2020 and is projected to exhibit the highest CAGR of 4.71% during the review period.
China & ASEAN cassava starch-based products market has been segmented, based on region/country, into China and ASEAN. China accounted for a larger market share of 69.50%, with a market volume of 17,768.5 thousand tons in 2020; the market is expected to register a CAGR of 4.03%. ASEAN was sized at 7,797.7 thousand tons in 2020; the market is projected to exhibit at a higher CAGR of 4.40% during the forecast period.
The key players operating in China & ASEAN cassava starch-based products market include Starch Asia (Thailand), Vedan International (Holdings) Limited (Vietnam), Cargill Inc. (US), Asia Fructose Co., Ltd. (Thailand), Piraab Starch (Thailand), Anhui Elite Industrial Co.,ltd (China), Dongguan Dongmei Foods Co., Ltd. (China), Shandong Bailong Chuangyuan Bio-Tech Co., Ltd (China), Ingredion Incorporated (US), Tate & Lyle Plc (UK).
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