Philippines Cassava Market | Trends, Analysis, Growth, Size, Companies, Revenue, Industry, COVID-19 IMPACT, Forecast, Value & Share

Philippines Cassava Market Synopsis

The Philippines cassava market is the second largest in the world, following only Brazil. In 2019, production of cassava was estimated at 18.3 million metric tons (MMT). This marks an increase from 14 MMT in 2014. The market is projected to rise more in the near future. Approximately 75% of local cassava production is used for human consumption while the remaining 25% is directed towards animal feed and industrial applications such as starch extraction and biofuel production. The demand for cassava has been increasing due to its use as a substitute for wheat flour in baked goods and other food products. The country also exports large volumes of fresh or frozen cassava to international markets such as China, Singapore, Vietnam, Malaysia and Thailand.

Drivers of the market

The Philippines cassava market is driven by several significant factors. Cassava is a staple food in many cultures and regions, contributing to its widespread consumption. It serves as a carbohydrate-rich source of energy, making it a valuable dietary component. Cassava`s versatility in culinary applications, from traditional dishes to processed products like flour and starch, enhances its market presence. The adaptability of cassava to various soil and climate conditions makes it a resilient crop with potential for food security. Additionally, cassava`s potential for use in various industrial applications, including biofuels and animal feed, contributes to its market significance. As efforts to promote sustainable agriculture and reduce food waste increase, the value of cassava as a versatile and resource-efficient crop becomes more apparent.

Challenges of the market

The Philippines cassava market faces challenges associated with production, processing, and market acceptance. Cassava, while a staple in some regions, may face competition from other carbohydrate sources. Ensuring sustainable cassava cultivation involves addressing issues like pest and disease management, optimizing land use, and promoting efficient cultivation practices. Additionally, the market potential for cassava-based products beyond traditional consumption needs to be explored. Establishing processing facilities for cassava into value-added products requires investment and technological know-how. Moreover, promoting cassava products as a nutritious and versatile ingredient requires consumer education and changing perceptions about cassava`s potential.

Covid-19 Impact of the market

The Philippines cassava market underwent a series of adjustments and adaptations due to the COVID-19 pandemic. With disruptions in supply chains, labor shortages, and shifts in consumer behavior, the demand for cassava faced challenges. The closure of foodservice establishments and reduced food processing impacted the demand for cassava products, often used as ingredients in various culinary applications. However, the surge in home cooking and a growing interest in locally sourced ingredients led to increased demand for fresh cassava in retail markets. The market had to adjust to changing consumption patterns by emphasizing the versatility of cassava and promoting its use in home-based recipes. Ensuring a consistent supply of high-quality cassava posed challenges due to sourcing difficulties and transportation disruptions. The Philippines cassava market responded by tapping into local sourcing networks, focusing on retail distribution, and enhancing safety measures to maintain the supply of this essential root crop.

Key Players of the market

In the Philippines cassava market, various players contribute to the production and supply of this starchy root vegetable. Companies like CassavaHarvest Farms, StarchCrafters Inc., and NutriCassava Producers play a significant role in cultivating and distributing cassava, which is used in both traditional dishes and industrial applications.

Key Highlights of the Report:

• Philippines Cassava Market Outlook
• Market Size of Philippines Cassava Market, 2023
• Forecast of Philippines Cassava Market, 2030
• Historical Data and Forecast of Philippines Cassava Revenues & Volume for the Period 2020-2030
• Philippines Cassava Market Trend Evolution
• Philippines Cassava Market Drivers and Challenges
• Philippines Cassava Price Trends
• Philippines Cassava Porter's Five Forces
• Philippines Cassava Industry Life Cycle
• Historical Data and Forecast of Philippines Cassava Market Revenues & Volume By Category for the Period 2020-2030
• Historical Data and Forecast of Philippines Cassava Market Revenues & Volume By Organic for the Period 2020-2030
• Historical Data and Forecast of Philippines Cassava Market Revenues & Volume By Conventional for the Period 2020-2030
• Historical Data and Forecast of Philippines Cassava Market Revenues & Volume By Form for the Period 2020-2030
• Historical Data and Forecast of Philippines Cassava Market Revenues & Volume By Solid for the Period 2020-2030
• Historical Data and Forecast of Philippines Cassava Market Revenues & Volume By Liquid for the Period 2020-2030
• Historical Data and Forecast of Philippines Cassava Market Revenues & Volume By Application for the Period 2020-2030
• Historical Data and Forecast of Philippines Cassava Market Revenues & Volume By Food & Beverages for the Period 2020-2030
• Historical Data and Forecast of Philippines Cassava Market Revenues & Volume By Animal Feed for the Period 2020-2030
• Historical Data and Forecast of Philippines Cassava Market Revenues & Volume By Others for the Period 2020-2030
• Philippines Cassava Import Export Trade Statistics
• Market Opportunity Assessment By Category
• Market Opportunity Assessment By Form
• Market Opportunity Assessment By Application
• Philippines Cassava Top Companies Market Share
• Philippines Cassava Competitive Benchmarking By Technical and Operational Parameters
• Philippines Cassava Company Profiles
• Philippines Cassava Key Strategic Recommendations