The global Tapioca market is changing rapidly, generating strong growth due to its benefits in enhancing consumer food products with its unique taste and sensory effects. Consumers around the world are driving demand for becoming more aware and health-conscious, promoting better health, extending lifespan and preventing the development of chronic illnesses. Changes in consumer eating habits and their tastes have led manufacturers to introduce and innovate new functional foods and beverages for the global market. So today Tapioca starch is used as a raw material for various functional foods due to the characteristics of its natural fiber, and it is driving global market growth for many products .
Tapioca in US market
In 2019, United States imported $28.1M in Tapioca, becoming the 2nd largest importer of Tapioca in the world, second only to Japan. During the same year, Tapioca was the 1015th most imported product in United States. United States imported Tapioca primarily from: Chinese Taipei ($18.5M), Thailand ($3.03M), China ($2.12M), Brazil ($1.23M), and India ($733k). The fastest growing Tapioca suppliers for United States between 2018 and 2019 were Chinese Taipei ($3M), China ($644k), and Thailand ($300k).
The value of imports to USA totaled $3 million in 2020. Top trading partners (import of “Tapioca and substitutes therefor prepared from starch, in the form of flakes, grains, pearls, siftings or in similar forms.”) of USA in 2020 included:
- Other Asia, with a share of 46% (14.4 million US$)
- Thailand with a share of 17.1% (5.35 million US$)
- China with a share of 10.9% (3.41 million US$)
- India with a share of 9.02% (2.81 million US$)
- Brazil with a share of 5.86% (1.82 million US$)
- Vietnam with a share of 3.31% (1.03 million US$)
- France with a share of 2.54% (793 thousand US$)
- Nigeria – 275 thousand US$
- United Kingdom – 222 thousand US$
- Philippines – 186 thousand US$
Tapioca in Vietnam market
In 2020, the export value of the commodity group “Tapioca and its alternatives, flakes, grains, pearls, sieves or similar forms” from Vietnam was US $398,000. Product Group sales from Vietnam decreased by 30% compared to 2019. Exports of commodity “Tapioca and its alternatives made from flakes, grains, pearls, sieves or similar shaped starch” decreased by $173,000 (cumulative exports of commodity group from Vietnam amounted $572 thousand in 2019)
Where does Vietnam export Tapioca and substitutes therefor prepared from starch, in the form of flakes, grains, pearls, siftings or in similar forms?
Top export destinations of “Tapioca and substitutes therefor prepared from starch, in the form of flakes, grains, pearls, siftings or in similar forms.” from Vietnam in 2020 included:
- Korea with a share of 48% (192 thousand US$)
- USA with a share of 31% (123 thousand US$)
- France with a share of 4.32% (17.2 thousand US$)
- Netherlands with a share of 3.24% (12.9 thousand US$)
- Australia with a share of 2.76% (11 thousand US$)
- Canada with a share of 2.41% (9.63 thousand US$)
- China with a share of 2.11% (8.42 thousand US$)
- Singapore with a share of 2.06% (8.24 thousand US$)
- Japan with a share of 2.05% (8.17 thousand US$)
- Hong Kong – 2.58 thousand US$
Although total exports of Vietnam Tapioca reduced significantly during 2020 over 2019 levels, the pre-COVID-19 trend for the prior 5 years has shown rapid global market growth. Noble Network is confident this rapid growth is due to superior quality and price and that there are ways to establish strong market growth in the USA, where Vietnam currently holds only 3% of the market today.