North America Sweet Potatoes Market, By Type (Whole Product, Processed Sweet Potatoes, Paste/Purees, and Sweet Potato Flour), Product Type (Fresh, Frozen, Dried, and Others), Nature (Organic and Conventional), Packaging Type (Bag, Pouches, Box, Tray, and Others), End User (Household, Food Service Sector, Food & Beverages Industry, and Others) Distribution Channel (Store Based Retailing and Online Retail) Industry Trends and Forecast to 2029
North America Sweet Potatoes Market Analysis and Size
North America sweet potatoes market is being driven by the increase in applications for sweet potatoes across industries. Additionally, the growth of the North America sweet potatoes market will be fueled by sweet potatoes' many nutritional advantages. At the same time, the primary factors limiting the North America sweet potato market are the higher price of sweet potato products compared to potatoes and the ease with which potatoes can be substituted. As a result of the rising demand for sweet potatoes, manufacturers are putting more effort into launching new products, promoting them, winning accolades and certifications, and participating in market events. These choices ultimately aid the market's expansion.
Some of the factors driving the market growth are growing awareness of sweet potatoes' health benefits over potatoes among consumers increasing applications of sweet potatoes in food & beverages, and growing awareness about health among consumers. However, limitations in terms of high prices of sweet potatoes are expected to hamper the market's growth.
Data Bridge Market Research analyses that the sweet potatoes market is expected to reach a value of USD 7,719.06 million by 2029, at a CAGR of 5.0% during the forecast period.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Year
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2020 (Customizable to 2019-2014)
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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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By Type (Whole Product, Processed Sweet Potatoes, Paste/Purees, and Sweet Potato Flour), Product Type (Fresh, Frozen, Dried, and Others), Nature (Organic and Conventional), Packaging Type (Bag, Pouches, Box, Tray, and Others), End User (Household, Food Service Sector, Food & Beverages Industry, and Others) Distribution Channel (Store Based Retailing and Online Retail)
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Countries Covered
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U.S., Canada, and Mexico in North America.
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Market Players Covered
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Conagra Brands, Inc., Nash Produce, Ham Farms, Dole Food Company, Inc., McCain Foods Limited, A.V. Thomas Produce, Jackson Farming Company, J.R. Simplot Company, Idahoan Foods, LLC., Jackson's Chips, Lamb Weston Holdings, Inc., The Kraft Heinz Company, and Nestlé
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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. Additionally, sweet potatoes enhance digestion and support gut health, among other advantages. Sweet potatoes are naturally anti-inflammatory and rich in antioxidants. Additionally, sweet potatoes come in various hues, including purple, orange, and other. Sweet potatoes are preferred in many functional foods and baby products because they are rich in multiple vitamins and minerals. Sweet potatoes are used in many different ways across regions, including
- Sweet potatoes are either eaten raw or processed through baking, roasting, boiling, freezing, drying, and other food products
- Sweet potatoes are used as a pigment to give cosmetics and food products color
- Beverages sweet potatoes are used to make functional beverages because of their sweetness and nutrient-rich makeup
- Nutritional supplement sweet potatoes are an appropriate choice for dietary and health supplements due to their high nutritional content
Sweet Potatoes Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Driver:
- VARIOUS NUTRITION BENEFITS OF SWEET POTATOES
Today's consumers are more inclined to nutrient-rich, naturally healthy food products. Customers have developed a special interest in foods that are low in calories, high in protein, free of gluten, and made from plants. Along with this increased awareness, customers have taken a particular interest in reading the nutrition label to ensure that the products are healthy. Due to sweet potatoes' high vitamin and mineral content, consumers have increased their consumption as this trend reaches its peak in the market.
In addition to these benefits, sweet potatoes are also rich in antioxidants, which protect the body against free radicals that can damage DNA. Due to their fibrous nature, sweet potatoes also support gut health and help in digestion. Anthocyanin and other color-related pigments in sweet potatoes are anti-inflammatory.
Moreover, sweet potatoes also promote healthy eyesight, as they are rich in beta-carotene, which converts into vitamin A in the human body and forms light-detecting receptors inside the eyes. Thus, with so many health benefits, the consumption of sweet potatoes is increasing, which is expected to drive the North America sweet potatoes market.
Restraint
- GROWTH TARIFF CHARGES ON THE SWEET POTATOES
The high import tariffs different nations have placed on sweet potatoes is one issue that significantly impacts the North America market's expansion.
The value chain of the manufacturers of sweet potato products is severely impacted by these abrupt changes in the tariff charges for sweet potatoes because higher tariff charges raise the price of raw materials. These tariff charges increase the cost of production for the goods and result in lower profits or losses for the manufacturers. Due to the difficulty of growing sweet potatoes and the rising cost of sweet potato cultivation, there has been an increase in tariff charges.
Thus, in conclusion, such increased tariff charges will increase the overall cost of production of the sweet potato product manufacturers in the world, which will result in restraining the growth of the overall market across regions.
Opportunity
- VARIOUS PRODUCT LAUNCHES AND DEVELOPMENTS
A new requirement has driven the market in these changing times. This need is expressed in the demand for natural nutrition products. Among them, there has been a surge in demand for products on the market that are used in various applications, including baking, cooking, processed foods, and others. This demand has led to some developments in the market.
Challenge
- BRAND EQUITY OF THE PRODUCT
The market has most local players rather than many major players or brand names because sweet potatoes are difficult to grow and are primarily exported from China and the United States. This has made it extremely difficult for any market brand equity. As a result, the market has faced several difficulties, including:
The market has no customer loyalty, as there are many local suppliers available in the market. Without customer loyalty, there cannot be a developed relationship between suppliers and producers.
There aren't many product developments because the market isn't very competitive.
The manufacturers can differentiate between only the quantity and quality of the products in the market.
Due to these factors, only a small number of producers specialize in sweet potatoes and their products on the market. Many producers only produce sweet potatoes and their products as a side business.
Due to a lack of brand equity, manufacturers can only expand into their local market, which limits their market growth.
Manufacturers find it difficult to enter this market due to these issues. Additionally, because sweet potatoes require a lengthy time commitment for any returns on investment, many manufacturers are hesitant to enter this market and instead opt to only pursue sweet potatoes as a side business, which limits the sweet potato's ability to spread throughout the world.
Post-COVID-19 Impact on North America Sweet Potatoes Market
Post the pandemic, the demand for Sweet potatoes has increased as there won't be any restrictions on movement; hence, the supply of products would be easy. The persistence of COVID-19 for a longer period has affected the supply chain as it got disrupted, and it became difficult to supply the food products to the consumers, initially increasing the demand for products. However, post-COVID, the need for Sweet potatoes has increased significantly owing to good nutrient content and other nutritional availability.
Recent Developments
- In August 2022, McDonald's Canada and McCain Foods Limited announced a new partnership to establish the Future of Potato Farming Fund, which will invest $1 million in education, demonstration, and cost-sharing grants to support potato farmers' adoption of regenerative practices and technology
- In December 2021, Strong Roots, a leading plant-based frozen food company, and McCain Foods, the family-owned North America leader in frozen potato specialties and appetizers, announced a strategic partnership, with McCain Foods investing USD 55 million in Strong Roots for a minority stake. The collaboration allows Strong Roots and McCain Foods to meet North America consumer demand for healthy and natural food
North America Sweet Potatoes Market Scope
North America sweet potatoes market is segmented based on end user, nature, type, packaging type, product type, and distribution channel. The growth amongst these segments will help you analyze major 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
Based on type, the North America sweet potatoes market is segmented into whole product, processed sweet potatoes, paste/purees, and sweet potato flour.
Product Type
- Fresh
- Frozen
- Dried
- Others
On the basis of product type, the North America sweet potatoes market is segmented into fresh, frozen, dried, and others.
Nature
- Conventional
- Organic
On the basis of nature, the North America sweet potatoes market is segmented into conventional and organic.
Packaging Type
- Bag
- Pouches
- Box
- Tray
- Others
On the basis of packaging type, the North America sweet potatoes market is segmented into bag, pouches, box, tray, and others.
End User
- Household
- Food service sector
- Food & beverages industry
- Others
On the basis of end user, the North America sweet potatoes market is segmented into household, food service sector, food and beverages industry, and others.
Distribution Channel
- Stored based retailing
- Online retail
On the basis of distribution channel, the North America sweet potatoes market is segmented into store-based retailing, and online retail.
Sweet potatoes Market Regional Analysis/Insights
The sweet potatoes market is analyzed, and market size insights and trends are provided by country, end user, nature, type, packaging type, product type, and distribution channel as referenced above.
The countries covered in the sweet potatoes market report are U.S., Canada, and Mexico in North America.
The U.S is the largest market for Sweet potatoes. Growing awareness of Sweet potatoes health benefits over potatoes among consumers is the major reason for the growth Sweet potatoes market in the U.S. Moreover, the plant-based food market is growing progressively in the North America. The growth of this market will directly impact the development of the Sweet potatoes market. However, high prices of Sweet potatoes will likely restrict the market growth.
The country section of the report also provides individual market-impacting factors and market regulation changes that impact the market's current and future trends. Data points like downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America 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 Sweet Potatoes Market Share Analysis
The sweet potatoes market competitive landscape provides details about the competitor. Components included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points are only related to the companies focusing on the sweet potatoes market.
Some of the major players operating in the Sweet potatoes market are Conagra Brands, Inc., Nash Produce, Ham Farms, Dole Food Company, Inc., McCain Foods Limited, A.V. Thomas Produce, Jackson Farming Company, J.R. Simplot Company, Idahoan Foods, LLC., Jackson's Chips, Lamb Weston Holdings, Inc., The Kraft Heinz Company, and Nestlé.
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