The International Market Analysis Research and Consulting Group Official Blog
Thursday, 29 September 2016
Global Cassava Processing Market Driven by a Steady Demand in the Food and Animal Feed Industries
As a result of its highly perishable nature, cassava is processed into a number of products such as flour, chips, starch, fillets, etc. The food and animal feed industries currently represent the largest consumers of these products. According to IMARC Group, the global cassava processing market has grown at a CAGR of 2.5% during 2008-2015.
IMARC Group’s latest report “Cassava Processing Market – Industry Trends, Manufacturing Process, Plant Setup, Machinery, Raw Materials, Cost and Revenue”, provides an in-depth view of the global cassava processing market. Cassava is a tropical crop which is easy to grow and harvest even during adverse conditions. It serves as a staple food for a major portion of the global population living in the tropical and sub-tropical regions. As a result of its high perishability, cassava is processed into a number of products such as flour, starch, chips, fillets, etc. Processing enhances the value of the product by reducing its weight, lessening post-harvest losses, removing naturally occurring toxins and extending its shelf life. According to the report, the global production of cassava reached a volume of nearly 280 Million Tons in 2015, growing at a CAGR of 2.5% during 2008-2015.
Cassava products are traditionally used for direct human consumption. This trend, however, is witnessing a shift with industrial applications of cassava products increasing across various regions. In the food industry, cassava flour and starch are widely used in manufacturing bakery products, confectionaries, jams and preserves, canned fruits, MSG, caramel, etc. Cassava chips and pellets are mainly used by the animal feed industry. Other industries where cassava products are used include – paper and cardboard, ethanol, textiles, glues and adhesives, pharmaceuticals, etc. Currently, half of the total cassava produced is used by the food industry. It is followed by the animal feed industry and others.
The report has analysed the market on the basis of key global regions. Nigeria represents the largest producer of cassava accounting for around a fifth of the total global production. Other major cassava producing countries include Congo, Indonesia, Thailand and Brazil. The report has further analysed the key global players operating in this market. Some of the major companies covered by the report include – Cargill Incorporated, Global Bio-Chem Technology Group, Avebe U.A., Penford Corp and Ingredion.
The report provides a detailed roadmap for setting up a cassava processing plant. The study, which has been done by one of the world’s leading research and advisory firms, covers all the requisite aspects of the cassava processing industry. This ranges from a comprehensive view of the market to minute details of the industry performance, processing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the cassava processing industry in any manner.