The sweet potatoes market in Vietnam has exhibited a declining trend over recent years. In 2023, the market volume stood at 410 thousand metric tons, reflecting a year-on-year decrease of -0.97%. The compounded annual growth rate (CAGR) for the last five years was -1.04%. Historically, the market showed fluctuations, with notable drops in 2017 and steady declines from 2019 onward. Future forecasts suggest continued decreases with an anticipated CAGR of -0.91% from 2024 to 2028, leading to an approximate 4.44% overall reduction in market volume over this period.
Future trends to watch for include advancements in agricultural practices, shifts in consumer preferences towards other staple foods, and potential influences of climate change on crop yields. Monitoring these factors will be critical for anticipating further market dynamics.
