The new report by Expert Market Research titled, ‘Global Tapioca Syrup Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global tapioca syrup market size, assessing the market based on its segments like sources, DE levels, applications, 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.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5.5%
The increasing application of tapioca syrup in the food and beverages, to add sweetness, to provide texture to the beverages, and to sustain the moisture in meat products, is driving the market growth. The increasing awareness about the nutritional benefits of the product, coupled with the increasing inclination towards health and fitness is further bolstering the demand for the product.
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Moreover, the increasing acceptance of tapioca syrup as a replacement of corn syrup is likely to add to the market growth. In terms of region, the Asia Pacific region accounts for a significant share of the market owing to the large population base in the region, which is encouraging the demand for tapioca syrup in various food products.
Tapioca Syrup Industry Definition and Major Segments
Tapioca syrup is defined as a type of syrup which is obtained from cassava tuber. Tapioca syrup is utilised as a healthy sweetener in the food and beverage industry. The flavour of this syrup is neutral with light golden colour. Moreover, the syrup is high in starch and also keeps food products from drying out.
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On the basis of source, the market can be segmented into:
- Organic
- Conventional
Based on DE levels, the market has been segmented into:
- <40
- 40 to 60
- >60
- High Maltose
The significant applications included in the market are as follows:
- Bakery
- Beverage
- Bars and Cereals
- Confectionery and Snacks
- Dressings and Sauces
- Dairy
- Pharmaceuticals
- Others
By distribution channel, the market has been segmented into:
- Supermarkets/Hypermarkets
- Convenience Stores
- Online
- Others
The regional markets for tapioca syrup include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Tapioca Syrup Market Trends
The key trends in the tapioca syrup market include the thriving e-commerce industry, which is accelerating the sales of bakery and confectionery, diary, and beverage products. The growing research and development activities in the pharmaceutical sector are likely to generate a significant demand for tapioca syrup to explore its potential uses.
Moreover, the increasing popularity of downstream food products of tapioca syrup, such as condiments, soups, and frozen desserts, among others, is driving the market growth. Other factors contributing to the market development are rapid urbanisation, increasing disposable income, rising dine-out activities, and increasing inclination towards food and beverages with nutritional benefits.
Furthermore, the market development is anticipated to be aided by the robust development of supermarkets/hypermarkets across the emerging economies.
Key Market Players
The major players in the market are:
- Cargill Inc.
- Grain Processing Corporation
- Malt Products Corporation
- Briess Products Ltd
- Marigold Inc
- Sunrise International Inc.
- 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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