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Asia Pacific Cassava Starch Market Valued At US$ 1,965.2 Million In 2023, Projected To Reach US$ 3,357.0 Million By 2032
(MENAFN- EIN Presswire)
The Request of this sample Report Here-
The expansion of the cassava starch market in the Asia Pacific region is driven by increasing demand for cassava-based products in various industries, including food and beverage, pharmaceuticals, and textiles. The versatility of cassava starch as a thickening agent and its applications in diverse sectors are contributing to the market's positive outlook.
Market Dynamics
Driver: Booming Demand for Cassava Starch Across Several Industries
The versatile applications of cassava starch in the Asia-Pacific region such as food and beverage, textiles, paper, pharmaceuticals are responsible for its unprecedented growth in the cassava starch market. This was mainly driven by the food and beverages sector which accounted for 34.72% only considering that people consume more processed foods where it is used widely as an ingredient. This demand has also been stimulated by wealthier consumers who have spent about 7.2% more over last year alone on goods within this area.
In 2023, cassava starch accounted for 18% of the market demand in the textile industry. They can also serve as adhesives in paper making, which occupies 12% market share. Its role as a binder and disintegrant in tablets led to a growth rate of 4% among pharmaceutical companies this year employing them. Thailand is one such country that produces it; together with Vietnam and Indonesia they make up two-thirds (65%) of regional production output by volume as at 2023. For these three nations alone, exports were worth $2.,9bn during this same period showing an increase from last year's figure by 6.3%.
Trend: The Rise of Clean Label Products
The clean label movement has become extremely popular throughout the Asia-Pacific cassava starch market and this is changing the demand for cassava starch. People want goods that have natural components which are easy to identify as they are said to be healthier than artificial ones hence prompting manufacturers to change how they make these items. In terms of percentages; among all newly launched food and beverage products in 2023 under a clean label claim were about 55%. This organic allergen-free ingredient fits perfectly well into such criteria where its use within clean labeling increased by 7% in 2023. The market value for clean labels ingredients used in Asia Pacific was estimated at $4,300 million during 2023 and is projected to keep growing at a CAGR of around 6% from 2024 till 2032.
Health-conscious consumers are driving this trend, with 68% of consumers in the region expressing a preference for products with no artificial additives. The demand for gluten-free products, where cassava starch is a key ingredient, surged by 8.4% in 2023. In the baby food segment, the inclusion of cassava starch in formulations increased by 6.7%, reflecting parents' preference for natural ingredients. The cosmetic industry also saw a 5.9% increase in the use of cassava starch in clean label products. Additionally, the clean label trend has led to a 4.2% rise in the adoption of cassava starch in meat alternatives and plant-based products.
For more detailed insights and a comprehensive analysis of the Asia Pacific cassava starch market, including trends, opportunities, and competitive landscape, please refer to the full report:-
The report highlights several key factors influencing the market growth, including technological advancements in cassava starch production, rising consumer awareness regarding the benefits of natural and organic ingredients, and supportive government policies in major producing countries.
.ADM
.AGRANA Beteiligungs-AG
.Cargill, Incorporated.
.Chorchaiwat Industry Co., Ltd.
.Ekta International
.Global Sweeteners Holdings Ltd
.Ingredion Inc.
.KengSeng group of company
.SPAC Starch Products (India) Ltd
.Viet Delta
.Visco Starch
.Other Prominent Players
Market Segmentation Overview:
By Product Type
.Native
.Modified
.Sweetener
By Nature
.Organic
.Conventional
By Grade
.Food Grade
.Medical Grade
.Industrial Grade
By Application
.Food and Beverages
.Pharmaceuticals
.Animal Feed
.Cosmetics
.Paper
.Textiles
.Chemical
.Biodegradable Materials
.Adhesives and Glue
.Others
By Distribution Channel
.Online
.Offline
oDirect
oDistributors
By Country
.China
.India
.Japan
.South Korea
.Australia & New Zealand
.ASEAN
.Rest of APAC
Download Sample PDF Report@-
About Astute Analytica:
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.
They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyse for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.
Asia Pacific Cassava Starch market to Grow at a CAGR of 6.35% During 2024–2032
CHICAGO, UNITED STATES, August 2, 2024 /EINPresswire / -- The Asia Pacific cassava starch market achieved a valuation of US$ 1,965.2 million in 2023. According to a recent market analysis, the market is anticipated to reach a valuation of US$ 3,357.0 million by 2032. This robust growth represents a compound annual growth rate (CAGR) of 6.35% during the forecast period from 2024 to 2032.The Request of this sample Report Here-
The expansion of the cassava starch market in the Asia Pacific region is driven by increasing demand for cassava-based products in various industries, including food and beverage, pharmaceuticals, and textiles. The versatility of cassava starch as a thickening agent and its applications in diverse sectors are contributing to the market's positive outlook.
Market Dynamics
Driver: Booming Demand for Cassava Starch Across Several Industries
The versatile applications of cassava starch in the Asia-Pacific region such as food and beverage, textiles, paper, pharmaceuticals are responsible for its unprecedented growth in the cassava starch market. This was mainly driven by the food and beverages sector which accounted for 34.72% only considering that people consume more processed foods where it is used widely as an ingredient. This demand has also been stimulated by wealthier consumers who have spent about 7.2% more over last year alone on goods within this area.
In 2023, cassava starch accounted for 18% of the market demand in the textile industry. They can also serve as adhesives in paper making, which occupies 12% market share. Its role as a binder and disintegrant in tablets led to a growth rate of 4% among pharmaceutical companies this year employing them. Thailand is one such country that produces it; together with Vietnam and Indonesia they make up two-thirds (65%) of regional production output by volume as at 2023. For these three nations alone, exports were worth $2.,9bn during this same period showing an increase from last year's figure by 6.3%.
Trend: The Rise of Clean Label Products
The clean label movement has become extremely popular throughout the Asia-Pacific cassava starch market and this is changing the demand for cassava starch. People want goods that have natural components which are easy to identify as they are said to be healthier than artificial ones hence prompting manufacturers to change how they make these items. In terms of percentages; among all newly launched food and beverage products in 2023 under a clean label claim were about 55%. This organic allergen-free ingredient fits perfectly well into such criteria where its use within clean labeling increased by 7% in 2023. The market value for clean labels ingredients used in Asia Pacific was estimated at $4,300 million during 2023 and is projected to keep growing at a CAGR of around 6% from 2024 till 2032.
Health-conscious consumers are driving this trend, with 68% of consumers in the region expressing a preference for products with no artificial additives. The demand for gluten-free products, where cassava starch is a key ingredient, surged by 8.4% in 2023. In the baby food segment, the inclusion of cassava starch in formulations increased by 6.7%, reflecting parents' preference for natural ingredients. The cosmetic industry also saw a 5.9% increase in the use of cassava starch in clean label products. Additionally, the clean label trend has led to a 4.2% rise in the adoption of cassava starch in meat alternatives and plant-based products.
For more detailed insights and a comprehensive analysis of the Asia Pacific cassava starch market, including trends, opportunities, and competitive landscape, please refer to the full report:-
The report highlights several key factors influencing the market growth, including technological advancements in cassava starch production, rising consumer awareness regarding the benefits of natural and organic ingredients, and supportive government policies in major producing countries.
.ADM
.AGRANA Beteiligungs-AG
.Cargill, Incorporated.
.Chorchaiwat Industry Co., Ltd.
.Ekta International
.Global Sweeteners Holdings Ltd
.Ingredion Inc.
.KengSeng group of company
.SPAC Starch Products (India) Ltd
.Viet Delta
.Visco Starch
.Other Prominent Players
Market Segmentation Overview:
By Product Type
.Native
.Modified
.Sweetener
By Nature
.Organic
.Conventional
By Grade
.Food Grade
.Medical Grade
.Industrial Grade
By Application
.Food and Beverages
.Pharmaceuticals
.Animal Feed
.Cosmetics
.Paper
.Textiles
.Chemical
.Biodegradable Materials
.Adhesives and Glue
.Others
By Distribution Channel
.Online
.Offline
oDirect
oDistributors
By Country
.China
.India
.Japan
.South Korea
.Australia & New Zealand
.ASEAN
.Rest of APAC
Download Sample PDF Report@-
About Astute Analytica:
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.
They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyse for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.
Aamir Beg
Astute Analytica
+1 888-429-6757
email us here
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