Known for large quantity of starch, cassava flour is witnessing an increase in demand worldwide in general, and in North America and Asia Pacific in particular. One of the major reasons for its rapid uptake among consumers and the food and beverage industry is the flour’s low gluten content. This also makes it a favorable substitute for wheat flour.
Additionally, it is worth noting that while it is being opted for use in both food and feed, it is food that will be at the forefront of growth in the market owing to being a rich source of minerals such as iron, calcium, phosphorous, potassium, and sodium. Furthermore, it also contains ample amounts of vitamins A and C. Therefore, it is great for health, especially of hair and skin. It is also a great immunity booster.
As per Transparency Market Research, the global cassava flour market is on a steady growth trajectory, credit a robust CAGR. This will bring a host of growth opportunities for the market players. It also notes that the global cassava flour market will also see demand for the flour arising from bakeries and confectionaries as it can be used as a natural sweetener.
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Top players occupying the global cassava flour market are Otto’s Naturals, Healthy Foods, American Key Food Products, Mhogo Foods, Mohan Exports (India) Pvt. Ltd, Dadtco Philafrica B.V., Woodland Foods, Tapioca Vietnam, Vaighai Agro, Psaltry International Limited, and others.
The market is fragmented and the level of competition is significant. Most players are focusing on improving production lines to meet the growing demand for the flour over the coming few years. Besides, it is significant to note here that a number of new companies are trying to enter the fray to carve off a share off the market for them. Therefore, it does not come as a surprise that investments and establishments are both on a growth curve.