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North America to Hold 45% of Tapioca Starch Market Share - Comprehensive Research by Fact.MR
NEW YORK , Jan. 20, 2022 /PRNewswire/ -- Tapioca starch sales are expected to reach US$ 4.7 billion in 2022. The growing popularity of gluten-free foods, as well as the health benefits of tapioca, are driving the tapioca starch market.
Furthermore, rising demand from the food and beverage industries, as well as tapioca pearls, is boosting tapioca starch sales. By the end of 2032, about 18,400,000 tonnes of tapioca starch are expected to be sold worldwide. Thus, sales of tapioca starch are predicted to approach US$ 9 billion in the projection period 2021-2031, with a CAGR of 6.1 percent.
To compete with the well-established corn and potato starch-based snacks, food manufacturers are experimenting with new ways to provide diverse snacks, including tapioca starch.
Consumer preference for clean-label products, as well as quality and flavor, will continue to be important growth variables for the tapioca starch market, as will this cassava extract's potential to serve as an effective alternative to modified starches used in processed food products.
Countries such as the United States and Canada have showed an increasing preference for gluten-free products in recent years. In addition, celiac disease affects about 3 million people of the region in North America . As a result, residents in the area are investing in food that will meet their demands. Furthermore, the existence of significant tapioca starch manufacturers in the region is boosting sales.
The trade association for the starch industry in Europe and international level has teamed up with Vietnam FTA to take advantage of latent opportunities in Vietnam's developing market to boost EU services, industrial, and agricultural exports. This, together with the presence of a well-established market for gluten-free foods and beverages, will support tapioca starch market expansion in Europe .
Fact.MR provides an unbiased analysis of the tapioca starch market, presenting forecast statistics for the period from (2022-2032). The study divulges compelling insights on the global tapioca starch market with a detailed segmentation on the basis of:
- The global demand for intolerance food products and gluten-free products has sparked this market's growth. It can be used as an artificial sweetener by health-conscious and diabetic people. This market is predicted to develop significantly as demand for this sweetener grows.
- The field of baking, as well as the baking mixtures that are added to it, has seen promising growth in the last decade. Various factors such as level of living, product type, recent trends, and other market dynamics are linked to the consumption of baked goods and pastries in different parts of the world.
- Due to the high consumption of beverages around the world, the tea extract industry continues to rise. The use of tea extracts in animal nutrition, functional meals, cosmetics, and personal care products has boosted the market for tea extracts.
- The global tea infusion market is primarily driven by the health benefits of drinking tea and increased consumer awareness of carbonated beverages. Furthermore, an increase in disposable income, changes in people's preferences, and a surge in coffee culture have all contributed to this trend.
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