The global cassava starch market sizeis predicted to reach USD 66.84 billion by 2026, exhibiting a CAGRof 6.50% during the forecast period. The expansion of the textileindustry will simultaneously aid the expansion of the cassava starch marketduring the forecast period. The increasing applications of starches in thetextile industry such as warp sizing, printing, cloth finishing, and otherswill facilitate the healthy growth of the market. As per theU.S. Department of Commerce, the U.S. textile andapparel industry is an estimated $70 billion sector. By the value ofindustry shipments, it is still one of the most significant sectors of themanufacturing industry and ranks among the top markets in the world by exportvalue: $23 billion in 2018.
In addition, thegrowing job employments in the textile industry in developed as well developingnations will contribute positively to the growth of the market in theforthcoming years. For instance, as per the U.S. Department of Commerce,the U.S. textile industry generated around 341,300 jobs in the textile rawmaterials, yarns, fabrics, apparel, home furnishings, and other textileareas.
According to thereport published by Fortune Business Insights in a report, titled “CassavaStarch Market Size, Share & Industry Analysis, By Type (Native Starch, ModifiedStarch, and Sweeteners), End-Use (Food & Beverages, Paper and Board, andOthers), and Regional Forecasts, 2019 – 2026” the market sizestood at USD 40.53 billion in 2018.
The report is aimed at delivering a comprehensive description of the cassavastarch market dynamics and structure by identifying and providing informationregarding the key market segments. It also focuses on an all-encompassinganalysis of leading market players by financial position, product, productportfolio, price, growth strategies, and regional presence. It offers PORTER’sanalysis and SWOT analysis to record the question of shareholders andhighlights the investment potential in the upcoming future. It also showcaseswhat procedures and strategies, companies are currently implementing in themarket. It further examines the components, convincing market expansion, growthpatterns, restricting factors, and market strategies.
Escalating Demand for Functional Food to Spur Business Opportunities
The surge in thenumber of health-conscious consumers around the world will spur demand forcassava starch, which in turn will boost the cassava starch market trends. Theincreasing awareness regarding the benefits of functional food such as theprevention of chronic diseases, promotes better health, and increases longevitywill contribute significantly to the cassava starch market growth. Moreover,the change in consumer’s eating habits and taste preferences has impelledmanufacturers to launch innovative functional food and beverages. Hencepropelling the growth of the market.
Variationsin Cassava Starch Prices to Hamper Market Prospects
The difference inthe cost of raw materials, as the production of cassava starch, is completelyon the availability and prices of raw materials. This factor is expected tohamper the growth of the market. The variation such as an increase in price,unavailability, and low-quality of raw materials will have a negative impact onthe production of cassava starch. Moreover, the surge in economies will have aneffect on the price of the various raw materials and other commodities, whichin turn will dampen the cassava starch market revenue. In addition, theincreasing prices of the raw materials will subsequently restrict theconsumption of cassava starch in the forthcoming years.
HighAdoption of Dietary Supplements to Facilitate Growth in North America
Asia Pacific isexpected to grow rapidly during the forecast period owing to the risingconsumption of functional foods and nutritional drinks in the region. Thegrowing population and medicinal applications will contribute positively to thegrowth of the Asia Pacific. The market in North America stood at USD 10.90billion and can remain dominant during the forecast period. The expansion ofthe food and beverage industry will bolster the healthy growth of the market inNorth America during the forecast period. Moreover, the implementation of costreduction techniques by key players in the region will further stimulate thecassava starch market share in North America.
GetDetailed Market Insights of this Research Report:
https://www.fortunebusinessinsights.com/cassava-starch-market-102415
