The cassava market in Oceania stood at 51 thousand metric tons in 2023. From 2014 to 2023, the market has seen fluctuations and modest growth. Notably, the market experienced a significant uptick of 10.87% in 2015, followed by a 7.84% decline in 2016. The period from 2019 to 2023 showed stability with negligible variations year-on-year. The compound annual growth rate (CAGR) from 2019 to 2023 stood at 0.4%, indicating plateaued growth.
Future trends point to a steady increase, with a 5-year CAGR of 0.39% and an anticipated total growth rate of 1.96% by 2028. Factors influencing this growth include increased agricultural initiatives, better farming techniques, and rising demand for cassava-based products.
Future trends to watch for:
- Technological advancements in cassava farming
- Market expansion into new regions
- Potential impact of climate change on yield and production
