NEW YORK, United States, June 28, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Tapioca Syrup Market Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database. According to the latest research study, the demand of global tapioca syrup market size was valued at USD 321 million in 2022 and it is expected to surpass around USD 531 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.5% during the forecast period 2023 to 2030.
The report analyzes the global tapioca syrup industry drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the tapioca syrup market.
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What is Tapioca Syrup? How big is the Tapioca Syrup Industry?
Report Overview:
Tapioca syrup is a natural sweetener derived from tapioca starch, which is extracted from the cassava plant (Manihot esculenta). It is a versatile and increasingly popular alternative to traditional sweeteners like cane sugar, corn syrup, and artificial sweeteners. Tapioca syrup offers a range of benefits, including its natural origin, clean label appeal, and lower glycemic index compared to refined sugars. One of the key advantages of tapioca syrup is its natural origin. It is free from artificial additives, colors, and flavors, making it a desirable choice for consumers seeking clean labels and natural food products. Tapioca syrup is derived from cassava, a root vegetable widely cultivated in tropical and subtropical regions, such as Southeast Asia, South America, and Africa. The tapioca syrup market has witnessed growth due to the increasing demand for natural and clean-label sweeteners. Consumers are increasingly conscious of their dietary choices and are seeking healthier alternatives to refined sugars. Tapioca syrup's natural attributes, lower glycemic index, and versatility have contributed to its popularity and adoption by manufacturers in the food and beverage industry.
Global Tapioca Syrup Market: Growth Factors & Restraints
Increased consumer health awareness is the primary driver of the demand for natural and healthier sweeteners from the major end-use industries. Tapioca syrup is increasingly used in food, drinks, dairy, and medicines because it is more nutritious than sucrose, has less calories & carbohydrates, and is a plant-based alternative. The expansion of the market for baked goods, candies, ready-to-drink drinks, and other commodities is helping the tapioca syrup business's growth. The industry is supported by increased disposable incomes, a growing retail sector, improved living standards, and technological advancements.
Throughout the forecast period, the demand for tapioca syrup in a variety of applications is projected to increase due to the rising popularity of organic and vegan food products. Over the projected period, this is anticipated to have a favorable effect on tapioca syrup market growth. Many businesses are providing healthier product choices in response to the rising demand for tapioca syrup as a flavoring component in various food products. On the other hand, the factors such as availability of substitutes, price volatility, and lack of awareness in emerging economies might be hampering the market growth during the forecast period.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 321 Million |
| Projected Market Size in 2030 | USD 531 Million |
| CAGR Growth Rate | 6.5% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Hunan Er-Kang Pharmaceutical Co. Ltd, American Key Food Products, Cargill, Incorporated, SPAC Starch Products (India) Ltd, Ingredion, Tapioca Starch Industry Co. Ltd, EIAMHENG TAPIOCA STARCH INDUSTRY CO. LTD., Psaltry International Limited, Dadtco Philafrica B.V., Tapioca Vietnam, Lentus Foods & Agro Ltd, and kengSeng Group Of Company among others. |
| Key Segment | By Source, By DE Level, By Form, By Application, By Distribution Channel, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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Tapioca Syrup Market: Segmentation Analysis
The global tapioca syrup industry is segmented based on source, DE level, form, application, distribution channel, and region.
Based on the source, the global market is bifurcated into organic and conventional. The conventional segment is expected to hold the largest market share during the forecast period. The segment of conventional tapioca syrup appeals to consumers who prioritize affordability and accessibility. It targets individuals who may not specifically seek organic or premium-priced products but still desire a natural alternative to refined sugars. Moreover, Tapioca syrup sourced from conventional methods finds applications in various industries, including food, beverage, confectionery, bakery, and more. It is used as a sweetener in a diverse range of products, such as baked goods, snacks, sauces, beverages, and processed foods. Thereby, propelling the segment growth.
Based on the DE level, the global tapioca syrup industry is divided into <40, 40 to 60, >60, and high maltose. Based on the form, the global tapioca syrup industry is bifurcated into tapioca syrup, tapioca maltodextrins, and tapioca syrup solids. Based on the application, the market is segmented into bakery, beverages, bars and cereals, confectionery and snacks, dressings and sauces, dairy, pharmaceuticals, and others.
Based on the distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, online, and others.
The global Tapioca Syrup market is segmented as follows:
By Source
- Organic
- Conventional
By DE Level
- <40
- 40 to 60
- >60
- High Maltose
By Form
- Tapioca Syrup
- Tapioca Maltodextrins
- Tapioca Syrup Solids
By Application
- Bakery
- Beverage
- Bars and Cereals
- Confectionery and Snacks
- Dressings and Sauces
- Dairy
- Pharmaceuticals
- Others
By Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Online
- Others
Browse the full “Tapioca Syrup Market By Source (Organic And Conventional), By DE Level (<40, 40 To 60, >60 And High Maltose), By Form (Tapioca Syrup, Tapioca Maltodextrins, And Tapioca Syrup Solids), By Application (Bakery, Beverage, Bars & Cereals, Confectionery & Snacks, Dressings & Sauces, Dairy, Pharmaceuticals, And Others), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online, And Others) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030?"- Report at https://www.zionmarketresearch.com/report/tapioca-syrup-market
Competitive Landscape
Some of the main competitors dominating the global Tapioca Syrup market include -
- Hunan Er-Kang Pharmaceutical Co. Ltd
- American Key Food Products
- Cargill
- Incorporated
- SPAC Starch Products (India) Ltd
- Ingredion
- Tapioca Starch Industry Co. Ltd
- EIAMHENG TAPIOCA STARCH INDUSTRY CO. LTD.
- Psaltry International Limited
- Dadtco Philafrica B.V.
- Tapioca Vietnam
- Lentus Foods & Agro Ltd
- kengSeng Group Of Company
- Others.
Key Insights from Primary Research:
- According to the analysis shared by our research analyst, the Tapioca Syrup market is likely to expand at a CAGR of around 6.5% during the forecast period (2023-2030).
- In terms of revenue, the Tapioca Syrup market size was valued at around US$ 321 million in 2022 and is projected to reach US$ 531 million by 2030.
- The increasing demand for natural and clean-label products is expected to propel the growth of the tapioca syrup market during the forecast period.
- Based on the source, the organic segment is expected to grow at a significant rate over the forecast period.
- Based on the form, the tapioca syrup segment is expected to dominate the market during the forecast period.
- Based on region, the Asia Pacific is expected to dominate the market during the forecast period.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Tapioca Syrup industry?
- What are the main driving factors propelling the Tapioca Syrup Market forward?
- What are the leading companies in the Tapioca Syrup Industry?
- What segments does the Tapioca Syrup Market cover?
- How can I receive a free copy of the Tapioca Syrup Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Source, By DE Level, By Form, By Application, By Distribution Channel, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
The Asia Pacific is expected to dominate the global tapioca syrup market over the forecast period. The regional growth is driven by several factors including the growing disposable income of the population and the increasing prevalence of chronic disease which includes diabetes and others. For instance, according to the World Health Organization, in India, it is estimated that 77 million adults over the age of 18 have type 2 diabetes and that almost 25 million are prediabetics (with an increased risk of getting the disease in the future). More than 50% of people may not know they have diabetes, which can cause serious health problems if not caught early and managed. Thus, the aforementioned facts support the market growth in the region over the forecast period.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In October 2022, Cargill increased the processing capabilities of its sweetener facility in Cikande, Indonesia, more than doubling the company's ability to produce organic, non-GMO tapioca syrup in response to persistent market demand for ingredients that are label-friendly.
To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/tapioca-syrup-market
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