Strategic Insights into the Tapioca Market: Projected USD 6.3 Billion Valuation and the Role of a 4.4% CAGR in Shaping F

In 2023, the tapioca market was valued at approximately USD 4.1 billion. By 2033, its value is projected to reach USD 6.3 billion, reflecting an anticipated compound annual growth rate (CAGR) of 4.4%. This growth is expected to significantly enhance the market share of tapioca.

Agroecological adaptability and producing higher yields at a lower investment, cassava plants are helping end-use industries meet the growing demand for tapioca starch. Due to tapioca starch's widespread application across a wide range of industries, including food and beverage and animal feed, market growth is expected to continue.

In the coming years, there will be various growth opportunities for the tapioca market due to its use in a variety of industries. In addition to being gluten-free, grain-free, and high in carbohydrates, tapioca plays an essential role in preventing food allergies, celiac disease, and gluten sensitivity. Therefore, the tapioca market is expected to grow the market significantly as a result of these medical benefits.

"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." says a lead analyst at Future Market Insights.

Key Takeaways from Market Study

The market for tapioca is expected to grow at a CAGR of 4.4% over the forecast period.
According to estimates, the Tapioca market in the Asia Pacific will remain strong throughout the length of the forecast period.
Animal feed is one of the most significant application areas for tapioca, projected to grow by 5% CAGR and reach US$ 2.3 Bn by 2033.
China’s tapioca market 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 US$ 1.8 Bn by the year 2033.

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Competitive Landscape

Key manufacturers employ several strategies to stay competitive in a rapidly evolving market. These include launching and approving new products, pursuing mergers and acquisitions, and forming strategic partnerships and collaborations.

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.

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.

As a result of this partnership, Cargill, Inc. plans to expand its operations throughout the Asia Pacific region in 2021. Starpro is Thailand's leading manufacturer and supplier of tapioca starch.
In February 2021, Tate & Lyle PLC acquired an 85 percent stake in Thailand's Chaodee Modified Starch Co Ltd.

Tapioca Market Segmentation by Category

By Types: