Global Tapioca Syrup Market To Grow At A CAGR Of 6.5% By 2030

27-Jun-2023 | Zion Market Research

The global tapioca syrup market size was worth around USD 321 million in 2022 and is predicted to grow to around USD 531 million by 2030 with a compound annual growth rate (CAGR) of roughly 6.5% between 2023 and 2030.

Global Tapioca Syrup Market Size

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.

This review is based on a report by Zion Market Research, titled "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

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.

Global Tapioca Syrup Market Size

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 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.

Recent Development:

  • 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.

Tapioca Syrup Market: Competitive Analysis

The global tapioca syrup market is dominated by players like:

  • 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.

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

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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