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Global Sweet Potatoes Market - Industry Trends and Forecast to 2031

Food & Beverage

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Global Sweet Potatoes Market - Industry Trends and Forecast to 2031

  • Food & Beverage
  • Upcoming Report
  • Apr 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Sweet Potatoes Market - Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 34.98 Billion
Diagram Market Size (Forecast Year) USD 56.17 Billion
Diagram CAGR %

Major Markets Players

  • Conagra Brands
  • Nash Produce
  • Sweet Potato Spirit Company
  • Ham Farms
  • Dole Food Company

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

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

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)

Countries Covered

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

Market Players Covered

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.)

Market Opportunities

  • Increase in the number of emerging markets
  • Technological advancement
  • Rise in strategic collaborations

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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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

Increasing Demand for Natural and Organic Products and the Rise of Health Awareness among Consumers are the growth drivers of the sweet potatoes market.
The type, product type, nature, packaging type, end user, and distribution channel are the factors on which the sweet potatoes market research is based.
Major companies 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.), and KP Snacks (U.K.)
The Sweet Potatoes Market size will be worth USD 56.17 billion by 2031.
The Sweet Potatoes Market growth rate will be 6.1% by 2031.
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