India Cassava Starch Market Size Worth $364.9 Million By 2030: IndustryARC
Research Reports
Aug 23, 2024
India Cassava Starch Market size is predicted to reach $364.9 million by 2030, growing at a CAGR of 7.9% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. The India cassava starch market has shown robust demand and promising growth trends. This surge can be attributed to several key factors driving the market forward. Cassava starch serves as a vital industrial raw material, finding extensive use in sectors such as food processing, textiles, and pharmaceuticals [2]. The versatility of cassava starch, which can be processed into various value-added products like flour and sago, enhances its appeal across diverse industries. Moreover, India’s agricultural landscape supports abundant cassava production, ensuring a steady supply for domestic industries. finds IndustryARC in its recent report, titled “India Cassava Starch Market – India Cassava Starch Market – By Product Type (Native Cassava Starch, Modified Cassava Starch (Pregelatinized Cassava Starch, Cross-linked Cassava Starch, Acetylated Cassava Starch, Oxidized Cassava Starch, Cationic Cassava Starch, Hydroxy propylated Cassava Starch, Others), Sweeteners and Derivatives (Cassava Syrup, Maltodextrin, Cassava Maltose, High-Fructose Cassava Syrup, Cassava Dextrose, Others))), By Application (Food & Beverage (Cookies & Biscuits, Breads, Cakes & Pastries, Chocolates, Processed Cheese & Alternatives, Ice Creams & Frozen Foods, Non-Dairy Beverages & Specialized Nutrition, Dairy based Beverages, Noodles & Pastas, Savory & Snacks, Sauces, Dips & Dressings, Others), Paper and Packaging, Textile, Adhesives, Chemicals, Pharmaceuticals, Animal Feed and Agriculture, Personal Care and Cosmetics, Others, By Geography (North India, South India, East and Northeast India, West India) – India Opportunity Analysis & Industry Forecast, 2024-2030”
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East and Northeast India to Register Highest Growth:
The East and Northeast India is anticipated to experience the highest Growth of CAGR 9.0% in the India Cassava Starch Market between 2024 and 2030. This growth is fueled by several factors including increasing industrial applications of cassava starch, rising demand for bio-based products, and strategic government initiatives aimed at promoting agricultural processing industries in these regions. The availability of raw materials, coupled with advancements in processing technologies, is also contributing to the market expansion. Additionally, shifting consumer preferences towards natural and sustainable ingredients further bolster the demand for cassava starch across various industries such as food and beverage, pharmaceuticals, and paper manufacturing. The favorable geographical conditions in the East and Northeast regions, conducive for cassava cultivation, further support this growth trajectory, making these areas pivotal in shaping the future landscape of the cassava starch market in India.
India Cassava Starch Market 2024-2030: Scope of the Report
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Report Metric |
Details |
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Base Year Considered |
2023 |
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Forecast Period |
2024–2030 |
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CAGR |
7.9% |
|
Market Size in 2030 |
$364.9 million |
|
Segments Covered |
Product Type, Application and Region |
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Geographies Covered |
North India, South India, East and Northeast India, West India |
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Key Market Players |
|
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India Cassava Starch Market Report – Key Takeaways:
- Animal Feed and Agriculture Segment to Register Highest Growth
By application type, animal feed and agriculture segment is analyzed to grow with the highest CAGR of 8.9% during the forecast period 2024-2030. Cassava starch serves as a versatile ingredient in animal feed formulations, offering benefits such as improved digestibility and cost-effectiveness. Moreover, its application in agriculture as a binding agent in various formulations further enhances its market potential. The agricultural sector in India is adopting cassava starch for its utility in crop protection products, where it aids in enhancing the effectiveness of pesticides and herbicides. This dual role of cassava starch in both animal feed and agriculture underscores its growing importance in the Indian market. As industries seek sustainable and economically viable solutions, cassava starch emerges as a preferred choice due to its renewable sourcing and functional properties, promising continued growth and innovation in these key segments.
- Food & Beverage is Leading the Market
Food & Beverage segment held a major market share in 2023 and is analyzed to continue its dominance over the market growing at CAGR 7.7% during the forecast period 2024-2030. The application of cassava starch in the Indian market, particularly in the food and beverage sector, has seen significant growth driven by several factors. In recent years, there has been a notable increase in the demand for cassava starch due to its versatility and functional properties in food processing. Cassava starch is widely utilized as a thickening agent, stabilizer, and texture enhancer in various food products such as sauces, soups, bakery items, and snacks. Its neutral taste, excellent clarity, and binding characteristics make it a preferred choice among food manufacturers looking to improve product quality while maintaining cost efficiency. Additionally, the clean label trend in the food industry has further boosted the adoption of cassava starch as it is perceived as a natural ingredient. Beyond food, cassava starch finds applications in beverages where it serves as a substitute for other starches or thickeners, contributing to improved product consistency and mouthfeel. The expanding food and beverage industry in India, coupled with increasing consumer awareness towards clean label products, continues to drive the demand for cassava starch.
- Fluctuations In Raw Material Prices as A Major Challenge
Fluctuations in raw material prices represent a significant challenge in the Indian cassava starch market, impacting both production costs and profitability. The market heavily relies on cassava as a primary raw material, which is sensitive to price variations influenced by factors such as weather conditions, global demand shifts, and geopolitical developments affecting supply chains. These fluctuations directly affect the operational dynamics of starch manufacturers, leading to uncertainty in cost projections and pricing strategies. Managing these price swings requires robust risk management frameworks and strategic partnerships with suppliers to stabilize input costs.
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Key Opportunity Analysis:
Adoption Of Advanced Processing Technologies
The adoption of advanced processing technologies presents a compelling growth opportunity for cassava starch market in India. Traditionally an industrial crop, cassava has gained traction due to its versatility in various sectors including food, pharmaceuticals, and textiles. The integration of advanced processing methods enhances production efficiency, reduces operational costs, and improves product quality, thereby meeting the increasing demand from diverse industries. Technologies such as automated processing systems, improved extraction techniques, and sustainable practices not only streamline manufacturing processes but also align with global sustainability goals. Moreover, these advancements bolster India’s position in the global market by ensuring consistency in supply and meeting stringent quality standards. In May 2024, The ICAR-Central Tuber Crops Research Institute (CTCRI) in Thiruvananthapuram has embarked on a ?4 crore research project for developing new tapioca varieties with waxy or high-amylose starches that are useful in industry with the help of CRISPR-Cas9 genome editing technology
Rising Demand for Biodegradable Products
The increasing global awareness and regulatory focus on environmental sustainability have positioned biodegradable products as a burgeoning segment within India’s cassava starch market. Cassava, a versatile crop abundant in India, serves as a crucial raw material for manufacturing biodegradable alternatives to traditional plastics and packaging materials. This shift towards biodegradability is driven by escalating consumer preferences for eco-friendly solutions, supported by stringent environmental policies favoring sustainable practices. As businesses strive to meet these evolving consumer demands, opportunities emerge for innovation and market expansion within the cassava starch sector. The development and adoption of biodegradable products not only cater to environmental concerns but also present a strategic growth avenue for stakeholders in the Indian market, fostering economic resilience and reinforcing India’s role in the global bioplastics landscape.
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The Report also Covers the Following Areas:
- India Cassava Starch Market Size and Forecast
- India Cassava Starch Market Trends
- India Cassava Starch Market Analysis by Product Type
India Cassava Starch Market 2024-2030: Key Highlights
- CAGR of the market during the forecast period 2024-2030
- Value Chain analysis of key stake holders
- Detailed analysis of market drivers and opportunities during the forecast period
- India Cassava Starch Market size estimation and forecast
- Analysis and predictions on end users’ behavior and upcoming trends
- Competitive landscape and Vendor market analysis including offerings, developments, and financials
- Comprehensive analysis of challenges and constraints in the India Cassava Starch Market
Covid and Ukrainian Crisis Impact:
The COVID-19 pandemic significantly impacted the India Cassava starch market, reshaping various facets of its production, distribution, and demand. As a crucial industrial raw material, cassava starch faced disruptions primarily due to lockdowns and restrictions that hindered the movement of goods and labor. The initial phases of the pandemic saw a stark decline in production capacity as factories struggled with workforce shortages and stringent health regulations. Supply chain disruptions became a critical issue, with delays in the transportation of raw cassava to processing plants and the distribution of finished starch products to domestic and international market.
The Russia-Ukraine conflict has impacted global agricultural markets, including the India cassava starch market, which is intricately linked to the broader starch and agricultural sectors. Disruptions in supply chains, particularly for raw materials and agricultural inputs, have created challenges for cassava starch producers in India.
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List of Key Market Players in India Cassava Starch Market:
The India Cassava Starch Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
- Everest Starch
- Prakash Starch Products
- General Starch Limited
- SMS Corporation
- Vijaya Lakshmi Adhesives
- Ingredion
- Varalakshmi Starch Industries
- SVM Cassava
- Angel Starch and Food
- Blue Craft Agro
Related Reports:
Tapioca ingredients/extracts Market: Tapioca is increasingly used in gluten-free foods, driven by rising consumer preference for healthier and allergen-free options.
Report Code: FBR 0137
Cassava Snacks Market: size is estimated to reach $25.2 billion by 2030, growing at a CAGR of 4.1% during the forecast period 2023-2030.
Report Code: FBR 0672
Clean Label Starch Market: Consumers are seeking products with simpler ingredient lists, driving demand for clean label starch as a natural alternative to modified starches.
Report Code: FBR 75392
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Mr. Venkat Reddy Email: sales@industryarc.com USA: (+1) 518-282-4727
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