The tapioca market is experiencing robust growth as consumers seek gluten-free and versatile alternatives to traditional starches. Tapioca, derived from cassava roots, is gaining popularity due to its natural properties. It is crucial in various food products, including tapioca pearls for bubble tea and tapioca flour for gluten-free baking. Moreover, tapioca’s neutral flavor profile makes it adaptable for sweet and savory dishes, contributing to its widespread appeal.
In 2023, tapioca industry valuation reached approximately US$ 4.1 billion, projected to expand significantly to around US$ 6.3 billion by 2033. This upward trajectory bolsters tapioca’s market share, with a projected Compound Annual Growth Rate (CAGR) of 4.4%.
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 various industries, including food and beverage and animal feed, market growth is expected to continue.
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In the coming years, the tapioca market will have various growth opportunities due to its use in various industries. In addition to being gluten-free, grain-free, and high in carbohydrates, tapioca is essential in preventing food allergies, celiac disease, and gluten sensitivity. Therefore, the tapioca market is expected to grow significantly due to these medical benefits.
“The market is anticipated to 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 the 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 industry in the Asia Pacific will remain strong throughout the length of the forecast period.
- Animal feed is one of tapioca’s most significant application areas, projected to grow by 5% CAGR and reach US$ 2.3 Bn by 2033.
- China’s tapioca industry holds a 50% share of the East Asia market and is projected to expand at a CAGR of over 8.1%—a market size of US$ 1.8 Bn by 2033.
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Competitive Landscape:
In developed regions, tapioca starch is used by several industrial companies for multiple purposes, such as thickening and stabilizing. The company has adopted other growth strategies, including partnerships, acquisitions, and research and development, to extract tapioca efficiently. These strategies have resulted in major developments in the tapioca industry.
Key Companies Profiled in the Tapioca Market
- 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 Developments:
- Starpro is Thailand’s largest manufacturer and supplier of tapioca starch. Cargill, Inc. plans to expand its operations throughout the Asia Pacific region in 2021 due to this partnership.
- It was announced in February 2021 that Tate & Lyle PLC would acquire 85 percent of Thailand’s Chaodee Modified Starch Co Ltd.
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Tapioca Market Segmentation by Category
By Types:
- Fresh
- Dried
By Uses:
- Thickening Agent
- Stabilizer Agent
- Bodying Agent
- Binding Agent
By Applications:
- Food, Beverage
- Textile Industry
- Glue Industry
- Pharmaceutical Industry
- Cosmetics Industry, Mining Industry, Constructions Industry
- Others
By Product:
- Tapioca Animal Feed
- Tapioca Flour
- Tapioca Chips
- Pellets
- Pearls
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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