Dried Cassava Pulp Market was valued at USD 0.87 Billion in 2022 and is projected to reach USD 1.35 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.

Key Market Insights on the Dried Cassava Pulp Market: Trends, Growth Drivers, and Future Prospects

The global dried cassava pulp market is experiencing significant growth, driven by increasing demand across various industries. In 2023, the market was valued at approximately USD 1.5 billion and is projected to reach around USD 2.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.1% during the forecast period. This growth is attributed to factors such as the rising need for sustainable animal feed alternatives, the expansion of the biofuel sector, and the versatility of cassava pulp in industrial applications.

Understanding Dried Cassava Pulp

Cassava pulp is the solid by-product obtained during the extraction of starch from cassava roots, representing approximately 10% to 15% of the original root weight. When dried, this pulp becomes a valuable resource utilized in various sectors due to its high carbohydrate content and cost-effectiveness.

Market Segmentation

The dried cassava pulp market can be segmented based on product type, application, distribution channel, and region.

By Product Type

• Pellets: Compressed forms of dried cassava pulp, commonly used in animal feed.
• Powder: Finely ground dried cassava pulp, utilized in food and industrial applications.
• Chips: Coarsely cut dried cassava pulp, used in various processing industries.

By Application

• Animal Feed: A cost-effective feed ingredient due to its high carbohydrate content.
• Biofuel: Serves as a raw material for ethanol production, contributing to renewable energy sources.
• Food and Beverage: Used as a thickening agent and carbohydrate source in various products.
• Industrial Use: Employed in the production of biodegradable products and adhesives.

By Distribution Channel

• Online Stores: E-commerce platforms offering a wide range of cassava pulp products.
• Supermarkets/Hypermarkets: Physical retail stores providing accessibility to consumers.
• Specialty Stores: Outlets focusing on specific product categories, including cassava-based items.

Growth Drivers

1. Increasing Demand in the Animal Feed Industry

The global rise in animal protein consumption has led to an increased need for efficient and economical animal feed solutions. Dried cassava pulp, known for its high carbohydrate content and nutritional benefits, has emerged as a viable option. Additionally, the easy availability and low price of cassava pulp compared to other feed materials have further propelled its market growth.

2. Expansion of the Biofuel Sector

Environmental concerns and the need to reduce dependency on fossil fuels have spurred the development of biofuels, where dried cassava pulp is being increasingly utilized. The cassava pulp, when processed, can be used to produce ethanol, a cleaner alternative to gasoline. Several countries are promoting the use of biofuels through favorable regulations and subsidies, thereby boosting the dried cassava pulp market.

3. Versatility in Industrial Applications

Cassava pulp is used as an ingredient in various food products due to its carbohydrate content and ability to act as a thickening agent. The growing trend towards gluten-free and plant-based diets has increased the demand for cassava-based products. Additionally, the industrial applications of cassava pulp, such as in the production of biodegradable products and adhesives, contribute to market expansion.

Regional Insights

The Asia Pacific region dominates the dried cassava pulp market, owing to the extensive cultivation and production of cassava in countries like Thailand, Indonesia, and Vietnam. These countries are not only large producers but also major exporters of cassava pulp. The market in North America and Europe is also witnessing growth, driven by the rising demand for biofuels and sustainable animal feed. Latin America and Africa, being significant producers of cassava, are also expected to contribute substantially to the market.

Competitive Landscape

The global cassava pulp market is moderately fragmented, with key players including ROI ET Group, FOCOCEV, Guangxi High Starch Co., Ltd., Hung Duy, SPAC Tapioca, Banpong Tapioca, Thai Wah, Bangkok Starch, TCS Tapioca Starch Industry Co., Ltd., Thanawat Group, North Eastern Starch, CP Intertrade, Chaiyaphum Plant Products, and PT. Budi Starch & Sweetener. These companies focus on expanding their production capacities and enhancing product quality to maintain a competitive edge.

Future Prospects

The dried cassava pulp market is poised for substantial growth in the coming years. Factors such as increasing demand for sustainable and cost-effective animal feed alternatives, expansion of the biofuel sector, and versatility in industrial applications are expected to drive market expansion. Additionally, innovations in product development and the increasing awareness of the benefits of cassava pulp are expected to further drive market growth.

Conclusion

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Who are the largest Global manufacturers in the Dried Cassava Pulp industry?

• SPAC Tapioca
• ROI ET Group
• Thai Wah
• FOCOCEV
• TCS Tapioca Starch Industry
• Hung Duy
• Banpong Tapioca
• CP Intertrade
• Bangkok Starch
• Thanawat Group
• Chaiyaphum Plant Products
• North Eastern Starch

By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.

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What are the factors driving the growth of the Global Dried Cassava Pulp Market?

Growing demand for below applications around the world has had a direct impact on the growth of the Global Dried Cassava Pulp Market

• Poultry Feed
• Fertilizer
• Others

What are the types of Dried Cassava Pulp available in the Market?

Based on Types the Market is categorized into Below types that held the largest Dried Cassava Pulp market share In 2023.

• Fermented Cassava Pulp
• Frozen Cassava Pulp

Which regions are leading the Global Dried Cassava Pulp Market?

• Global (United States, Global and Mexico)
• Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
• South America (Brazil, Argentina, Columbia, etc.)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Detailed TOC of Global Dried Cassava Pulp Market Research Report, 2024-2032

1. Introduction of the Global Dried Cassava Pulp Market

• Overview of the Market
• Scope of Report
• Assumptions

2. Executive Summary

3. Research Methodology of Verified Market Reports

• Data Mining
• Validation
• Primary Interviews
• List of Data Sources

4. Global Dried Cassava Pulp Market Outlook

• Overview
• Market Dynamics
• Drivers
• Restraints
• Opportunities
• Porters Five Force Model
• Value Chain Analysis

5. Global Dried Cassava Pulp Market, By Type

6. Global Dried Cassava Pulp Market, By Application

7. Global Dried Cassava Pulp Market, By Geography

• Global
• Europe
• Asia Pacific
• Rest of the World

8. Global Dried Cassava Pulp Market Competitive Landscape

• Overview
• Company Market Ranking
• Key Development Strategies

9. Company Profiles

10. Appendix

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