Global Sweet Potatoes Market, By Type (Whole Product, Processed Sweet Potatoes, Paste/Purees, Sweet Potato Flour), Product Type (Fresh, Frozen, Dried, Others), Nature (Organic, Conventional), Packaging Type (Bag, Pouches, Box, Tray, Others), End User (House-hold, Food Service Sector, Food and Beverages Industry, Others) Distribution Channel (Store-Based Retailing, Online Retail) - Industry Trends and Forecast to 2031.
Sweet Potatoes Market Analysis and Size
The sweet potatoes market is experiencing robust growth, driven by a combination of factors including increasing consumer awareness of their health benefits, versatility in culinary applications, and their popularity as a sustainable and affordable food source. Sweet potatoes are rich in fiber, vitamins, and minerals, making them a popular choice among health-conscious consumers looking for nutritious alternatives. Overall, the global sweet potatoes market is poised for continued growth, driven by consumer preferences for healthier and sustainable food options.
Data Bridge Market Research analyzes that the global sweet potatoes market which was USD 34.98 billion in 2023, is likely to reach up to USD 56.17 billion by 2031, and is expected to undergo a CAGR of 6.1% during the forecast period of 2024 to 2031.
“Processed sweet potatoes” dominates the type segment of the sweet potatoes market due to increased demand for convenience foods and the versatile use of processed sweet potatoes in various culinary applications.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Whole Product, Processed Sweet Potatoes, Paste/Purees, Sweet Potato Flour), Product Type (Fresh, Frozen, Dried, Others), Nature (Organic, Conventional), Packaging Type (Bag, Pouches, Box, Tray, Others), End User (House-hold, Food Service Sector, Food and Beverages Industry, Others) Distribution Channel (Store-Based Retailing, Online Retail)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa
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Market Players Covered
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Conagra Brands, Inc. (U.S.), Nash Produce (U.S.), Sweet Potato Spirit Company (U.K.), Ham Farms (U.S.), Dole Food Company, Inc. (Ireland), McCain Foods Limited (Canada), A.V. Thomas Produce (U.S.), Jackson Farming Company (U.S.), J.R. Simplot Company(U.S.), Idahoan Foods, LLC. (U.S.), KP Snacks (U.K.)
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Market Opportunities
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Market Definition
Sweet potatoes are a type of root vegetable with a sweet flavor and a starchy texture. Sweet potatoes have a fibrous texture and are incredibly nutrient and mineral-dense. Sweet potatoes enhance digestion and support gut health, among other advantages. They are naturally anti-inflammatory and rich in antioxidants. They come in various hues, including purple, orange, and others. Sweet potatoes are preferred in many functional foods and baby food products because they are rich in a variety of vitamins and minerals.
Global Sweet Potatoes Market Dynamics
Drivers
- Rise of Health Awareness among Consumers
Consumers are now more conscious of their health due to their changing lifestyles, so they are paying closer attention to what they have to eat. This alteration has increased consumers' popularity of plant-based, low-calorie, sugar-free, dairy-free, and gluten-free foods. Growing rates of non-communicable diseases like cardiovascular disease, diabetes, cancer, obesity, and overweight among consumers contribute to this change, which is driving the market growth.
- Increasing Demand for Natural and Organic Products
As consumers become more health-conscious and concerned about the environment, there is a growing preference for foods that are perceived as natural, sustainable, and free from harmful chemicals. Sweet potatoes, being a natural and nutritious crop, are well-positioned to capitalize on this trend. Producers and marketers can leverage this opportunity by promoting sweet potatoes as a healthy and environmentally friendly food choice, which is driving the market growth.
Opportunity
- Growing Market of Functional Food and Dietary Supplements
The market for sweet potatoes will see many new and upcoming opportunities with the growth of functional food and dietary supplements in light of such developments and growing consumer and manufacturer awareness of the health benefits of the sweet potato. The increasing market of available food and nutritional supplements will create opportunities for the global sweet potatoes market due to the growing health consciousness among people.
- Development of Value-Added Products
While sweet potatoes are commonly consumed as a whole food, there is a growing trend towards the use of sweet potato-based ingredients in processed foods and beverages. Sweet potato flour, puree, and extracts are increasingly being used in bakery products, snacks, and beverages due to their nutritional benefits and unique flavor profile. By innovating and diversifying their product offerings, sweet potato producers can tap into new market segments and enhance the value of their crop which is can be a big opportunity for the market.
Restraints/Challenges
- High Price of Sweet Potato Products
Sweet potato products are expensive because of the high cost of raw materials. The fact that sweet potatoes are challenging to grow and demand more labor and money during cultivation is another factor contributing to the increase in the price of sweet potato products. Due to the high cost of raw materials and the labor-intensive manufacturing process, there are now only a handful of significant market players, leading to sweet potato products' premium and pricey status. This is another factor contributing to the increase in the price of sweet potato products which is challenging the market growth.
- Storage and Transportation Infrastructure
Sweet potatoes are perishable and require specific storage conditions to maintain their quality and shelf life. In regions where storage and transportation infrastructure is lacking, there is a risk of post-harvest losses and reduced market access. Addressing this challenge will require investment in cold storage facilities, improved packaging technologies, and efficient transportation systems to ensure that sweet potatoes reach consumers in optimal condition.
This sweet potatoes market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the sweet potatoes market contact Data Bridge Market Research for an analyst brief, our team will help you make an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In October 2023, Jackson's, a prominent sweet potato chip manufacturer, has unveiled plans to triple its production capacity for kettle-cooked sweet potato chips. The expansion involves incorporating two high-capacity kettles, along with additional packaging lines and seasoning systems, enabling the company to substantially increase its output.
Global Sweet Potatoes Market Scope
The sweet potatoes market is segmented on the basis type, product type, nature, packaging type, end user, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Whole Product
- Processed Sweet Potatoes
- Paste/Purees
- Sweet Potato Flour
Product Type
- Fresh
- Frozen
- Dried
- Others
Nature
- Conventional
- Organic
Packaging Type
- Bag
- Pouches
- Box
- Tray
- Others
End User
- Household
- Food Service Sector
- Food and Beverages Industry
- Others
Distribution Channel
- Stored Based Retailing
- Online Retail
Global Sweet Potatoes Market Regional Analysis/Insights
The sweet potatoes market is analysed and market size insights and trends are provided by type, product type, nature, packaging type, end user, and distribution channel are referenced above.
The countries covered in the Sweet Potatoes market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.
North America is expected to dominate the market due to growing awareness of sweet potatoes health benefits over potatoes among consumers
Asia-Pacific is expected to show the highest growth rate in the market due to the growing market for foodservice in the sweet potato sector in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Sweet Potatoes Market Share Analysis
The sweet potatoes market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the sweet potatoes market.
Some of the major players operating in the sweet potatoes market are:
- Conagra Brands, Inc. (U.S.)
- Nash Produce (U.S.)
- Sweet Potato Spirit Company (U.K.)
- Ham Farms (U.S.)
- Dole Food Company, Inc. (Ireland)
- McCain Foods Limited (Canada)
- A.V. Thomas Produce (U.S.)
- Jackson Farming Company (U.S.)
- J.R. Simplot Company (U.S.)
- Idahoan Foods, LLC. (U.S.)
- KP Snacks (U.K.)
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