(MENAFN- The Express Wire)
Posted on Apr 25 2022 7:40 AM
'Key Players Covered The prominent players operating in the global manioc powder market are Healthy Foods, American Key Food Products, Mhogo Foods, Tapioca Vietnam, Woodland Foods, Psaltry International Limited, Otto's Naturals, Dadtco Philafrica B.V., and Others.
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The global manioc powder market size is projected to rise in the upcoming years, as it has become an alternative to wheat flour in bakeries, suggests Fortune Business Insights™ , in its report, titled,“ Manioc Powder Market, 2021-2028 ”.
Manioc powder is majorly used in bakery products as it traps moisture in a gel, thus preventing baked foods, such as biscuits and breads from becoming soggy. It is also added to meat products as a binder and stabilizer before frying.
In the processed food industry, bakery holds the largest section as per The American Bakers Association reports published in 2019, states baked goods produced accounts for $423 billion. Thus the rising demand for baked food will positively promote the manioc powder industry.
COVID-19 Impact
The COVID-19 pandemic has led to a severe economic downturn, impacting the manioc powder market growth negatively since it is used extensively in the processed food industry. Lockdowns, social distancing, and reduced workforce have caused unprecedented upheavals in this industry, which inevitably harmed the market growth.
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Segmentation
Based on the product type, the market is divided into organic and conventional. On the basis of its application, it is divided into food and beverages, bakery, confectionery, dairy, savory snacks, sweets, and animal feed. In terms of geography, the market is categorized into North America, South America, Europe, Asia Pacific, and the Middle East & Africa.
Highlights of the Report
The report gives a thorough analysis of the latest market trends, top market segments, and factors that are majorly driving the market. The different market segments and their regional analysis are also comprehensively discussed in the report. Additionally, it talks about the dominant strategies adopted by key market players and the impact of COVID-19 on the market for manioc powder.
Drivers and Restraints
Increased Utilization of Manioc Powder by Processed Food Industry to Promote Market Growth
The rising awareness about the health benefits is expected to propel the demand for manioc powder from the processed food industry. The growing demand for gluten-free products and nutrient-rich properties of manioc is replacing conventional grains, such as wheat and rice. This powder also holds sweetening properties and is used in making sweets and desserts, and is a good replacement for corn syrup for making baked food. Recently, Forager Project, a U.S.-based brand, launched grain-free cereal using manioc powder and navy beans in three variants, namely, plain, cinnamon, and chocolate.
However, the fluctuating price of raw materials, availability of cheap synthetic food ingredients, and their adulteration are the main restraints of this market.
Regional Insights
The Middle East & Africa to Dominate Globally Owing to Easy Availability of Raw Materials
Among regions, Middle East & Africa holds a significant share in manioc powder's global market as this region is its largest producer and raw materials are easily available here. Manioc Powder is expected to raise farmers' income and as it is the main source of food and is consumed by 500 million people in this region every day, reports Global Cassava Development Strategy. In the Asia Pacific, especially in China, India, and Indonesia, the market is set to experience booming growth as there is a rise in bakeries and confectionery stores in this region due to rapid urbanization.
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In North America, the rapid expansion of the food and beverages industry and increased demand of healthy baked food have increased the consumption of manioc powder and positively impact its market growth in this region.
Competitive Landscape
Key Players Focus on Launching Healthy & Innovative Products to Energize the Market
Leading entities in this market are concentrating on creating innovative products to widen their business horizons and maximize profitability. For example, in January 2020, Campbell Soup Company launched No-grain Tortilla Chips using cassava flour and chia seeds.
Industry Development
April 2018 : Thai firm, Chorchaiwat Industry Company Limited launched Sava flour, gluten-free all-purpose flour made from manioc, which will be extensively used in baking.
List of Key Players Profiled in the Manioc Powder Market Report:
- American Key Food Products,
- Mhogo (BS) Foods
- Tapioca Vietnam
- Woodland Foods
- Psaltry International Limited
- Otto's Naturals.
- Dadtco Philafrica B.v
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Phone: US +1424 253 0390 / UK +44 2071 939123
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