Arrowroot Market: Introduction
Starch obtained from the rootstock of several tropical plants i.e. maranta traditionally known as Maranta arundinacea is known as Arrowroot. Maranta is a large perennial herb found in the rainforest habitats. Arrowroot tuber contains up to 23% starch. It also contains a good amount of potassium, iron and B vitamins. Saint Vincent, one of the largest island in the Caribbean Sea located between Saint Lucia and Grenada has a long history of arrowroot production. Arrowroot powder is naturally gluten free, grain free, vegan and paleo-friendly. Arrowroot has been used as thickening agent in food products like gravies, stews, and sauces. It has a wide range of application in the food and pharmaceutical industry.
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Arrowroot Market: Dynamics
The global Gluten free product market is expected to grow at faster rate in the coming years owing to the rising awareness of its health benefits. Arrowroot being a gluten-free product will witness its growth in terms of value and volume sales globally. Due to its large-scale application in the food industry especially as a thickening agent, will help drive its demand for the product.
Arrowroot Market: Segmentation
Arrowroot market can be segmented into nature, form, end use, and distribution channel. On the basis of nature, Arrowroot can be segmented into organic and conventional. Due to rising demand for the organic product from the food and pharmaceutical industries, the volume share for organic Arrowroot is being anticipated to be higher than the conventional segment.
On the basis of form, the Arrowroot can be segmented into Liquid and powder. Arrowroot in its powder form has a wide range of application in the food industry. Arrowroot powder is being used as thickening agent in the production of sauces. It is also being used in baking, roasting, and frying. Since arrowroot contains a good amount of potassium, iron and B vitamins, it has several health benefits such improving metabolism and heart health. Owing to large-scale application in food industry, arrowroot powder is being expected to have higher volume sales as compared to its liquid form.
On the basis of end use, the Arrowroot can be segmented into the food industry, the pharmaceutical industry, and cosmetic industry. Due to the higher demand for arrowroot powder from the food industry, it is being anticipated that food industry to have higher value sales in terms of end use for arrowroot market. On the basis of distribution, Arrowroot can be segmented into a direct channel and indirect channel. An indirect channel can be further sub-segmented into Supermarket/Hypermarket, Specialty Store, E-retailers and others (Club and specialty store). Arrowroot has its main distribution flow in modern trade stores like hypermarket/supermarket and convenience store which are easily accessible to target customers. Due to rising internet penetration in the recent past globally, distribution through E- Retailers are expected to surge the market.
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Arrowroot Market: Regional Outlook
The global Arrowroot market has been categorized into seven key regions including North America and Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Japan, and the Middle East & Africa. Arrowroot plants are usually found in West Indies, Florida, Australia, South Asia, Brazil, and Thailand. However, arrowroot has its largest production occurring in one of the islands in the Caribbean Sea i.e. Saint Vincent located Saint Lucia and Grenada.
Owing to the large scale application in food industry, there will be a rise in demand for the product in the North American region which is being considered as one of the largest food industry globally.
Hence North America and Asia Pacific region has been expected to have higher value share for arrowroot market globally. On the other hand European regions has been tagged as the emerging market for arrowroot market due to the rise in demand for arrowroot powder in the cosmetic industry.
Arrowroot Market: Key Players
Some of the key players in this market are Archer Daniels Midland Company (ADM), Avebe U.A., Bob’s Red Mill Natural Foods, Britannia Industries Limited, Mountain Rose Herbs, Sainsbury’s, Great American Spice Company, Azure, Bramble Berry, Inc., Aryan International, The Sundaram Overseas Operation and other such companies.
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