Global Cassava Market 2024

Cassava Market Size

The global cassava market stood at $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the global market remained at a lower figure.

Cassava Production

In value terms, cassava production declined to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, global production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Nigeria (X tons), Democratic Republic of the Congo (X tons) and Thailand (X tons), together comprising X% of global production. Ghana, Cambodia, Brazil, Indonesia, Vietnam, Angola, Mozambique, Tanzania, Cote d'Ivoire and Cameroon lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Cote d'Ivoire (with a CAGR of X%), while production for the other global leaders experienced more modest paces of growth.

In 2022, the global average cassava yield contracted modestly to X tons per ha, approximately reflecting the previous year. Over the period under review, the yield showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X%. The global yield peaked at X tons per ha in 2018; however, from 2019 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of cassava production worldwide expanded slightly to X ha, with an increase of X% against 2021. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to cassava production attained the maximum in 2022 and is expected to retain growth in years to come.

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Cassava Exports

Exports

In 2022, shipments abroad of cassava increased by X% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports saw a measured expansion. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the global exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, cassava exports rose significantly to $X in 2022. Overall, total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The global exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Thailand (X tons) represented the major exporter of cassava, constituting X% of total exports. It was distantly followed by Vietnam (X tons), comprising an X% share of total exports. The following exporters - Lao People's Democratic Republic (X tons) and Costa Rica (X tons) - each resulted at a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cassava exports from Thailand stood at X%. At the same time, Lao People's Democratic Republic (X%) and Costa Rica (X%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. Vietnam experienced a relatively flat trend pattern. Lao People's Democratic Republic (X p.p.) significantly strengthened its position in terms of the global exports, while Vietnam saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest cassava supplier worldwide, comprising X% of global exports. The second position in the ranking was held by Lao People's Democratic Republic ($X), with an X% share of global exports. It was followed by Vietnam, with a X% share.

In Thailand, cassava exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Lao People's Democratic Republic (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the average cassava export price amounted to $X per ton, approximately reflecting the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The global export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (X%), while the other global leaders experienced more modest paces of growth.

Cassava Imports

Imports

In 2022, purchases abroad of cassava increased by X% to X tons, rising for the third year in a row after two years of decline. Overall, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cassava imports surged to $X in 2022. Over the period under review, imports enjoyed resilient growth. The growth pace was the most rapid in 2021 when imports increased by X%. Global imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

China was the largest importing country with an import of around X tons, which accounted for X% of total imports. Thailand (X tons) took the second position in the ranking, distantly followed by Vietnam (X tons). All these countries together held near X% share of total imports. South Korea (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other global leaders experienced mixed trends in the imports figures.

In value terms, the largest cassava importing markets worldwide were China ($X), Vietnam ($X) and Thailand ($X), with a combined X% share of global imports.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cassava import price amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform