Global Tapioca Market to Reach US$5.7 Billion by 2030
The global market for Tapioca estimated at US$4.4 Billion in the year 2024, is expected to reach US$5.7 Billion by 2030, growing at a CAGR of 4.4% over the analysis period 2024-2030. Animal Feed, one of the segments analyzed in the report, is expected to record a 4.9% CAGR and reach US$2.7 Billion by the end of the analysis period. Growth in the Tapioca Flour segment is estimated at 4.1% CAGR over the analysis period.
The U.S. Market is Estimated at US$1.2 Billion While China is Forecast to Grow at 7.8% CAGR
The Tapioca market in the U.S. is estimated at US$1.2 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2030 trailing a CAGR of 7.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.7% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR.
Global Tapioca Market - Key Trends and Drivers Summarized
What Is Tapioca and Why Is It in High Demand?
Tapioca is a starch extracted from the roots of the cassava plant, which is native to South America but is now cultivated in various tropical and subtropical regions. It has been a dietary staple for centuries, particularly in regions like Africa, Southeast Asia, and South America, due to its ability to provide a significant source of carbohydrates. Tapioca is known for its versatility as it can be processed into different forms, such as pearls, flakes, and powders, making it a valuable ingredient in a wide range of food products, from puddings to bubble tea. Its gluten-free nature has further heightened its popularity in markets that cater to individuals with gluten sensitivities, adding to its already robust global demand. Moreover, tapioca is used as a thickening agent and stabilizer in a variety of processed foods, including sauces, soups, and baked goods, owing to its neutral taste and ability to enhance texture.
How Is Tapioca Being Used Across Industries?
While tapioca has long been a staple in traditional cooking, its industrial uses have expanded significantly in recent years. The food and beverage industry remains the largest consumer, utilizing tapioca as a core ingredient in gluten-free products, beverages like bubble tea, and snacks. In addition to its role in food, tapioca is also used in non-food applications, including pharmaceuticals and textiles. In the pharmaceutical industry, tapioca starch is used as a binder in tablet formulation, while in textiles, it serves as a starching agent in fabric production. Furthermore, the animal feed industry uses tapioca due to its high carbohydrate content, making it an energy-dense ingredient in feed formulations for livestock.
Which Segments and Technologies Are Leading the Tapioca Market?
Based on form, the market includes tapioca pearls, flour, and flakes, with pearls getting popular due to their use in beverages such as bubble tea. The application segment includes food, industrial, and pharmaceutical uses, with food applications leading the market. Regionally, Asia-Pacific holds the largest market share due to the high cultivation of cassava in countries like Thailand and Vietnam, as well as the rising demand for tapioca-based products in these regions. Meanwhile, the demand for tapioca is also growing in North America and Europe, driven by the increasing popularity of gluten-free diets and the rise of Asian-inspired beverages and desserts.
What Is Driving the Growth in the Tapioca Market?
The growth in the tapioca market is driven by several factors, including the rising demand for gluten-free products, the popularity of bubble tea, and the increasing use of tapioca as a cost-effective thickening and stabilizing agent in the food industry. Additionally, the versatility of tapioca and its ability to cater to various industrial needs, including pharmaceuticals and animal feed, has expanded its market reach. Technological advancements in tapioca processing, such as improved extraction techniques and the development of modified tapioca starches for industrial applications, are also contributing to market growth. Moreover, favorable government policies in cassava-producing countries and the rising export of tapioca products to international markets are fueling the expansion of this market.
TARIFF IMPACT FACTOR
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