Global Tapioca Syrup Market to Grow at a CAGR of 5.5% During 2024-2032, Aided by the Product’s Versatile Functionality

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.

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Market Breakup by Source, DE Level, Application, Distribution Channel, and Regions:

• Based on source, the market can be bifurcated into organic and conventional.

• On the basis of DE level, the market is divided into less than 40, 40 to 60, greater than 60, and high maltose level.

• Based on application, the industry has been categorised into bakery, beverage, bars and cereals, confectionery and snacks, dressings and sauces, dairy, and pharmaceutical, among others.

• By distribution channel, the market can be segmented into supermarkets/hypermarkets, convenience stores, and online, among others.

• Region-wise, the global tapioca syrup industry can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for tapioca syrup is being driven by the increasing demand for natural sweeteners over sucrose or table sugar, and the growing health awareness among consumers.

• The thriving food and beverages sector and the growing demand for organic and vegan products are expected to further boost the industry growth.

• The market is receiving a further impetus with the growing retail sector and increasing consumer disposable incomes.

• The advancing pharmaceutical industry is also propelling the industry growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for tapioca syrup for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for sources, DE levels, applications, distribution channels, and regional markets of tapioca syrup.

• The report also gives the regional historical (2018-2023) and forecast (2024-2032) price trends of the product.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter's Five Forces models.

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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