Are you a farmer or a crop dealer? Are you into cassava farming or importation and exportation of cassava?
Do you want to know the cassava market growth, from trends to size and industry analysis? Keep reading this article.
The cassava market is experiencing unprecedented growth, driven by increasing demand for sustainable and climate-resilient crops.
Cassava, a root vegetable crop has become a staple in many cultures, and its versatility has led to a surge in its global market size.
Is it good to enter into cassava plantation and business? Are you wondering if the cassava business is lucrative? Let this article offer you all the information you need.
The cassava market is experiencing unprecedented growth, driven by increasing demand for sustainable and climate-resilient crops.
This root vegetable has become a staple food in many cultures, and its versatility has led to a surge in its global market size.
In this article, we will delve into the trends, size, and industry analysis of the cassava market and explore the factors that drive its growth and the opportunities that lie ahead.
Article Focus
Cassava Market Growth
Trends In the Cassava Market
Industry Analysis
The Key Players In The Cassava Market Growth
What Drives The Cassava Market Growth?
Challenges Of Cassava Market Growth
Opportunities In The Cassava Market Growth
Which Country Is The Largest Importer Of Cassava?
Where Did Cassava First Originate?
What Is The Price Of Cassava In Ghana In 2024?
Uses Of Cassava
Frequently Asked Questions
Conclusion
Read More: Uses And Health Benefits Of CassavaCassava Market Growth
Trends In the Cassava Market
The trends in the cassava market are:
Sustainable Agriculture
Food Security
Industrial Application
Health Benefits
If you are venturing into cassava farming or cassava business then you need to abreast yourself with the trends in the cassava market especially in Ghana. Below is detailed information on trends in the cassava market.
Sustainable Agriculture
Cassava is popular for its tolerance and ability to thrive in poor soil conditions.
This makes it an attractive crop for sustainable agriculture practices. Due to its ability to withstand drought, it is very popular in African countries and South America.
Food Security
Cassava is a staple food for millions, and its production is critical to ensuring food security, particularly in developing countries. It can be used to prepare foods like gari, which can stay very long.
Industrial Application
Most manufacturing industries use cassava to make starch, flour, and other derivatives used in various industries, such as paper, textile, and adhesive production.
Health Benefits
Cassava is well endowed with carbohydrates, fiber, vitamins, and other powerful nutrients that offer several health benefits, and these have led to the increased demand for cassava-based products.
Cassava Market Size
Globally, the cassava market is projected to reach $ 4.5 billion by 2025, growing at a Compound Annual Growth Rate (CAGR) of 8.5 from 2020 to 2025.
Asia-Pacific dominates the market, accounting for over 50% of global production, followed by Africa and Latin America.
Industry Analysis
The cassava industry is fragmented, with small-scale farmers and processors accounting for a significant share of the market.
However, large-scale industrial processors are increasingly investing in cassava production and processing, driving market growth.
Cassava is a lucrative business that any serious investor can venture into.
Read More: Fertility-Boosting FoodsThe Key Players In The Cassava Market Growth
The cassava market is experiencing significant growth as a result of the strong roles played by the following key players in the industry. They include:
Tapioca starch producers: Cargill, Ingredion, and Archer Daniels Midland (ADM)
Food Manufacturers: Unilever, Nestle and PepsiCo
Agricultural Companies: Monsanto, Syngenta, and Bayer
What Drives The Cassava Market Growth?
The cassava market growth is driven by the influence of the factors below:
Increasing demand for sustainable crops
Growing awareness of the health benefits of cassava
The expansion of industrial applications
Government initiatives supporting cassava production
Challenges Of Cassava Market Growth
The cassava market faces challenges that sometimes impede its growth. Below are some significant and pressing challenges of the cassava market:
Disease and pest management
Climate change and weather variability
Limited access to credit and markets for small-scale farmers
Opportunities In The Cassava Market Growth
When there is a significant record of growth in the cassava market, there are several opportunities that would be yielded and they may include the following:
Profitability
Cassava is a crop that is in high demand in both local and foreign markets, therefore it is quite easy to yield profit in no time when you invest in it.
Low Input Requirements
Cassava farming requires less water and fertilizers as compared to other crops. Cassava can withstand drought and survive and therefore there will be no need for a lot of water in its farming. Also, it can thrive in poor soil.
Resilience
Cassava can thrive in diverse environmental conditions, such as heat, poor soil, and drought.
Market Demand
The demand for cassava never stops, so there is a regular market for cassava farmers.
Diversification
Cassava farming offers a wide variety of products and markets for increased income streams.
Another opportunity in the cassava market growth is there is development of new industrial applications or uses.
There will be expansion into new markets and regions hence creating more opportunities.
The use of cassava flour as an import substitutes for plywood and paperboard adhesives.
Which Country Is The Largest Importer Of Cassava?
China is the highest importer of cassava and its products. They import about 71% of the world's imports of cassava.
Where Did Cassava First Originate?
Cassava first originated in South America. Africa was the second continent to start cassava plantations.
What Is The Price Of Cassava In Ghana In 2024?
As of the time of writing this article, 2nd July 2024, the price of a ton of cassava in Ghana is GHS 1519.95.The price of cassava per kilogram in Ghana is GHS 1.52
Read More: Sexual Benefits Of CassavaUses Of Cassava
cassava is used for the following:
Food
Starch
Animal feed
medicine
cosmetics
Frequently Asked Questions
Which country is the highest producer of cassava?
Nigeria is the largest producer of cassava in the world. Cassava production has contributed significantly to the growth of the Nigerian economy.
Conclusion
The cassava market is poised for significant growth, driven by trends in sustainable agriculture, food security, industrial application, and health benefits.
As the market continues to expand, industry players must address challenges and capitalize on opportunities to ensure a sustainable and equitable cassava industry for all stakeholders.
With the versatility and climate resistance of cassava, it remains an attractive crop for the future, and its market growth is expected to continue unabated.
This article has offered the information you need to know about cassava market growth, including trends, industry analysis, and more.
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