The new report by Expert Market Research titled, ‘Global Tapioca Syrup Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global tapioca syrup market, assessing the market based on its segments like source, DE levels, application, distribution channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Forecast CAGR (2020-2025): 5.5%
The global tapioca syrup market is being driven by the rising health consciousness and the increasing preference for natural sweeteners to table sugar or sucrose. It has a lower calorie and carb content compared to sugar. The market is aided by the growing demand from the bakery, confectionery, and ready-to-drink beverages segments. Rising disposable income levels among the consumers are also propelling the market growth. The growing retail sector, coupled with the surging demand for organic and vegan products, is predicted to further boost industry growth. Pharmaceutical advancements are also anticipated to aid the market over the forecast period.
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Industry Definition and Major Segments
Tapioca syrup is obtained from starch extracted from the roots of the cassava plant. Tapioca syrup is a sweetener that is usually employed in bakery products as a substitute for corn syrup owing to its high starch content. It is also used as an alternative to honey by vegan consumers.
Based on the source, the tapioca syrup market can be segmented into:
On the basis on DE levels, the market is categorized into:
• 40 to 60
• 60 >
• High Maltose
By application, the industry is divided into:
The major distribution channels of tapioca syrup are:
• Convenience Stores
The major regional markets of the product are:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Consumers’ inclination towards non-GMO and organic products owing to the rising health consciousness is aiding the tapioca syrup industry. The changing food habits of consuming a vegan diet is supposed to be the driving factor for this trend. The acquisition of tapioca syrup in breakfast foods, especially as topping, has increased owing to the increasing consumer demand. Tapioca syrup is deemed to be the perfect substitute for corn syrup and other sugar-based products. Enhanced label-friendly appeal and certified organic lines are predicted to have a positive impact on the tapioca syrup market. Production of tapioca syrup in an extremely controlled atmosphere to match the infant grade quality requirements is expected to enhance the growth opportunities over the forecast period.
Key Market Players
The major players in the market are Cargill Inc., Grain Processing Corporation, Malt Products Corporation, Briess Products Ltd, Marigold Inc., and Sunrise International Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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