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The tapioca syrup industry is witnessing a healthy growth due to the versatile functionality offered by tapioca syrup. The product is majorly consumed in the food and beverages sector. Although, the growing pharmaceuticals industry is expected to provide new opportunities for the market expansion over the forecast period. With the growing R&D activities and increasing clinical trials taking place across the globe, the pharmaceuticals sector is expected to flourish over the next five years. The rising distribution channels for the end-products supported by the growth of major retailers like Walmart (NYSE: WMT) and Amazon is expected to propel the market forward. Within the Asia Pacific, various countries consume tapioca and tapioca derived food products, which is expected to impact the tapioca syrup industry positively in the coming years.
The surge in the demand for non-GMO and organic products is also aiding the market growth. Cargill Inc., one of the leading players in the industry, provides non-GMO tapioca syrup that can serve as a label-friendly swap for corn syrup while maintaining a delicate balance between functionality and sensory expectations like flavour and taste. Cargill's portfolio of tapioca syrups contains Certified Organic lines to meet the growing consumer demand and enhance the products' label-friendly appeal. Moreover, the growing investments by the major players to enhance their product portfolio is significantly boosting the industry growth. In December 2016, Grain Processing Corporation launched MALTRIN® T-Series, a new tapioca-based MALTRIN® maltodextrin and syrup solids product line extension that offers a wide range of dextrose equivalents (DE), ranging from 4 to 40, in powdered form. The product is produced to stringent specifications to meet the infant grade quality requirements and ensure consistent quality. Such developments are expected to provide enhanced growth opportunities to the industry over the forecast period.
Market Breakup by Source, DE Level, Application, Distribution Channel, and Regions:
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The major players in the global tapioca syrup market are Cargill Inc., Grain Processing Corporation, Malt Products Corporation, Briess Products Ltd, Marigold Inc, and Sunrise International Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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