Ghana – Africa Newswire – Cassava is the increasingly popular feed material for starch extraction. Cassava is the oldest source for starch, after maize, wheat or potato. Cassava leaves have the healthiest form of protein and beta-carotenoids, are also used as a vegetable and forage in the world. Cassava raw material is a relatively inexpensive source for starch, which has three types: native, modified & sweetener. The cassava starch market will represent a considerable CAGR growth over the forecast period. According to the Global Cassava Starch Market will surpass US$ 8.1 Billion by 2026.
Almost half per cent of world cassava consumption is concentrated in two Regions, namely America and the Asia Pacific. Cassava is increasingly popular, particularly in African countries due to its production and rapidly increasing populations. In the world cassava market, Thailand is the leading producer followed by Vietnam and Cambodia through their production level was not as high as that of Nigeria. Apart from cassava processing into foods, this can also be processed for feeding animal, confectionery & drinks, Corrugating & Paper Making, Non-food and Pharmaceuticals & Chemicals. The growth of the cassava starch market in the future appears to be very promising due to its usage in Indonesia, United States, China and other countries.
Key players such as Cargill, Ingredion, ADM (Archer Daniels, Midland Company) & Tate & Lyle are dominated in the world cassava industry in recent years. In July 2020, Cargill’s has added the newest sweetener portfolio, which has offered food and beverage manufactures 30% sugar reduction. Covid-19 pandemic has a severe impact on supply chain & production of the Cassava starch industry globally.
Renub Research report titled “Cassava Starch Market, Consumption & Forecast, by Product (Native Starch, Modified Starch, Sweeteners), Region (Asia Pacific, Americas, Rest of World) Applications (Processed Food, Confectionery & Drinks, Corrugating & Paper Making, Feed, Pharmaceuticals & Chemicals, Non-food) Companies (Ingredion, Cargill, Midland Company, Archer Daniels & Tate & Lyle)” studies the global Cassava Starch Industry market and volume.