/PRNewswire/ The tapioca market size is set to grow by 2.47 mn tons from 2020 to 2024, according to Technavio. The growth momentum of the market is expected.
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Technavio Research: Tapioca Market Report (2020-2024) - Market Size, Share, Price, Trend and Forecast
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Technavio has announced its latest market research report titled Global Tapioca Market 2020-2024 (Graphic: Business Wire)
The tapioca market is expected to grow by 2.47 million tons, progressing at a CAGR of almost 1% during the forecast period.
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The Health benefits of tapioca is one of the major factors propelling market growth. However, factors such as complexities related to overconsumption will hamper the market growth.
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Tapioca Market: Application Landscape
One of the most important application areas of tapioca is animal feed. Tapioca is economical compared to other starches and is thus present in most of the compounded animal feeds. It is extensively used as a filler. The demand for tapioca feed (cassava pomace) is expanding rapidly in APAC due to a rise in income levels, which is boosting the demand for livestock products. All these factors are expected to contribute significantly to the growth of this segment during the forecast period.
Tapioca Market: Geographic Landscape