How Has The Sweet Potatoes Market Size Evolved Historically?
The sweet potatoes market has seen considerable growth due to a variety of factors.
• Growth has been consistent in recent years in the sweet potatoes market. The projection is that it will increase from $48.92 billion in 2024 to $50.31 billion in 2025, with a compound annual growth rate (CAGR) of 2.8%.
The expansion during the historic phase can be linked to the increase in global population, increased awareness of the health benefits of sweet potatoes, governmental initiatives, and considerable economic growth in emerging markets.
What Is the Forecasted Market Size and Growth Rate for The Sweet Potatoes Market?
The sweet potatoes market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to witness a consistent incline in the ensuing years, the size of the sweet potatoes market is predicted to reach $56.21 billion in 2029, with a compound annual growth rate (CAGR) of 2.8%.
Factors including global population expansion and urbanization, a shift towards vegan diets, escalating investments, and rising demand for plant-derived products contribute to the growth during the projection period. Noteworthy trends within this forecast period encompass the cultivation of organic food crops, product innovation, advancements in technology, strategic alliances, and amplifying investments.
What Are The Core Factors Supporting Growth In Sweet Potatoes Market?
The surge in popularity for plant-based cuisine is anticipated to fuel the expansion of the Sweet potatoes market in the future. Various millet-based recipes can have plant-based foods seamlessly blended in, creating meals that are both tasty and packed with nutrition. Sweet potatoes, being a nutrient-rich and flexible root vegetable, can be paired with various plant-based foods for an enjoyable diet that offers numerous health advantages. For example, as reported by USA Today, a US news broadcaster, in August 2023, the U.S. restaurant industry recorded sales of $898 billion in 2022, marking an increase of $166.5 billion from the sales in 2021. Therefore, it's clear that the escalating appetite for plant-based foods is accelerating the growth of the Sweet potatoes market.
What Are The Main Segments Of The Global Sweet Potatoes Market?
The sweet potatoes market covered in this report is segmented –
1) By Form: Whole Fruit, Processed Sweet Potatoes, Paste/Purees and Flour
2) By Type: Fresh, Frozen, Dried and Other Types
3) By Nature: Conventional and Organic
4) By Packaging Type: bag, pouches, tray, box and other packaging types
5) By End Users: Household, Food and beverages Industry, Food Service Provider and Other End Users
Subsegments:
1) By Whole Fruit: Fresh Sweet Potatoes, Organic Sweet Potatoes
2) By Processed Sweet Potatoes: Canned Sweet Potatoes, Frozen Sweet Potatoes, Dehydrated Sweet Potatoes
3) By Paste/Purees: Sweet Potato Puree, Sweet Potato Paste
4) By Flour: Sweet Potato Flour, Gluten-Free Sweet Potato Flour
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What Emerging Trends Are Influencing The Growth Of The Sweet Potatoes Market?
The rise in technological innovation is driving key trends in the sweet potato market. Major players in this space are utilizing cutting-edge technology to create novel products and fortify their market standing. Take, for example, the University of Pretoria (UP). In September 2022, UP's researchers employed an innovative drying technology to enhance the nutritional value of sweet potatoes. By fusing microwave and infrared techniques, the technology results in enhanced preservation of beta-carotene. The flour produced from these orange-fleshed sweet potatoes is a potent source of vitamin A.
Who Are the Key Players in the Sweet Potatoes Market?
Major companies operating in the sweet potatoes market include:
• Black Gold Farms
• Scott Farms. Inc
• Ham Farms
• Topashaw Farms
• Vick Family Farms
• A.V. Thomas Produce. Inc
• Nash Produce
• LLC
• Edmondson Farms
• Jackson Farming Company
• Sharp Farms Inc
• China Star Food Group
• Nestlé
• The Sweet Potatoes Spirit Company
• KP Snacks
• Sacoma Sweet Potatoes
• Aviko
• Bidfood
• Mano Food
• Solan S.A
• Birds Eye Ltd
• Jones Family Farms
• Vapza
• Intertropical Exotics
• Marami food Industries Co
• Fresh Leaf Foodstuff Trading LLC
• Vegberry
• Golden Dunes General Trading LLC
• Wijhat Algetha
• Langplaas Boerdery
• Orange fleshed sweet potatoes
• Kgarose Kgaros (Pty) Ltd
What Is The Most Dominant Region In The Sweet Potatoes Market?
Asia-Pacific was the largest region in the sweet potatoes market in 2024. The regions covered in the sweet potatoes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
