LONDON--(BUSINESS WIRE)-- According to the latest market study released by Technavio, the global tapioca market is projected to grow to USD 18.86 billion by 2021, at a CAGR of more than 3% over the forecast period.
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Technavio has published a new report on the global tapioca market from 2017-2021. (Graphic: Business Wire)
This research report titled ‘Global Tapioca Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
|Tapioca is neutral in taste and is used in many food and beverage products. Tapioca is gluten-free, nut-free, and grain-free. Tapioca (flour) is preferred for making gluten-free products. The health benefits associated with tapioca and increasing demand in developing countries are some of the factors driving the market growth.|
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Based on the product type, the report categorizes the global tapioca market into the following segments:
“The animal feed segment occupied over 45% of the global tapioca market in 2016, due to the increased demand for tapioca pulp, meal, and pellets to feed farm animals including swine and poultry,” says Manjunath Reddy, a lead analyst at Technavio for food research.
Mainly cassava pomace or tapioca waste is the widely used form of animal feed. The demand for tapioca waste has increased due to rise in prices of other popular feed alternatives such as maize and other raw materials. The growing demand for tapioca animal feed from APAC can be attributed to a rise in income levels.
Tapioca flour is extracted from crushed cassava roots' pulp. It is a fine, white, and gluten-free powdered flour. The flour feed segment of the tapioca market is projected to reach 26.84 million tons by 2021, driven by its demand from the food and beverage, adhesive and glue, paper, and cosmetics and personal care industries. It is mainly consumed in the natural form in households in Africa, or as starch paste to accompany dishes, especially desserts and baked products. Also, tapioca-based sweeteners are used to enhance product traits, texture, and processing characteristics.
Chips, pellets, and pearls
“Tapioca chips, pellets, and pearls are expected to be the fastest-growing products of the tapioca market, projected to grow at a CAGR of nearly 4% over the forecast period. Tapioca pellets are most commonly used as a supplementary feed option with a high amount of carbohydrates, calories, and starch and low amount of fat and neutral detergent fiber,” says Manjunath.
Tapioca pearls are made in different sizes and are most commonly used in bubble tea. They are made by passing moist tapioca through a sieve and then rolled into balls once dry. Tapioca pearls have a neutral taste and their color, texture, and size changes when mixed with different ingredients like sugar, water, and seasoning.
The top vendors highlighted by Technavio’s research analysts in this report are:
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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Source: Technavio Research