Summary
Major players in the sweet potatoes market are Black Gold Farms, Scott Farms Inc, Ham Farms, Topashaw Farms, Vick Family Farms, McCain Foods Limited, Kgarose Kgaros (Pty) Ltd, Mano Food, Lamb Weston Meijer MEA FZ-LLC, Vegberry Middle East, Vapza, Intertropical Exotics, Sharp Farms Inc, Jones Family Farms, AO Pogar Potato Factory, Aviko, Nestlé, The Sweet Potatoes Spirit Company, China Star Food Group, Xian Shunyi Bio-Chemical Technology Co. Ltd, and Saipro Biotech Private Limited.
The global sweet potatoes market is expected to grow from $47.58 billion in 2022 to $48.89 billion in 2023 at a compound annual growth rate (CAGR) of 2.6%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The sweet potatoes arket is expected to reach $54.11 billion in 2027 at a CAGR of 2.6%.
The sweet potatoes market consists of sales of beauregard, covington and red garnet.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Sweet potatoes are nutrient-dense root vegetables that come in a variety of colors. Sweet potatoes offer several health benefits including improving insulin sensitivity in diabetes, maintaining healthful blood pressure levels, reducing risk of cancer, improving digestion power and protecting eye health.
Asia-Pacific was the largest region in the sweet potatoes market in 2022. The regions covered in sweet potatoes report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main form of sweet potatoes are whole product, processed sweet potatoes, paste or purees, and flour.The whole sweet potatoes are potatoes in whole form and can be consumed whole after baking, steaming or frying.
Sweet potatoes are steamed whole or even cooked whole after cleaning and peeling as a part of a diet.The types included are fresh, frozen, dried, and other types, that are packed in bag, pouches, box, tray and others.
The nature of these product is conventional and organic, that are used in household, food service sector, food and beverages industry, and others.
Growing demand for plant-based products is expected to drive the sweet potatoes market going forward.Major companies operating in the food and beverage market are developing plant-based snacks using sweet potatoes.
For instance, in January 2022, Spudsy, a US-based manufacturer of plant-based snacks with upcycled sweet potatoes, launched Sweet Potatoes Fries, in Whole Foods Market’s salty snack aisle.Each fry is made with sweet potatoes flour which is created from sweet potatoes that typically end up in landfills due to minor ’flaws’ like shape, size and color.
This line is vegan, non-GMO, grain-free, and gluten-free, and comes in two flavors- Hot Fry and Vegan Ranch. Therefore, increased demand and use of sweet potatoes in plant-based products is expected to propel sweet potatoes market.
Technological advancements are a key trend gaining popularity in the sweet potatoes market.Major companies operating in the sweet potatoes market are developing innovative products with advanced technologies to strengthen their position in the market.
For instance, in September 2022, researchers at the University of Pretoria (UP) boosted the nutritive benefits of sweet potatoes with novel drying technology.The technology involves combining microwave and infrared applications, which results in higher retention of beta-carotene.
The orange-fleshed sweet potatoes flour that is produced is a strong source of vitamin A.
In October 2022, Lamb Weston Holdings, Inc. an American food processing company that is one of the world’s largest producers and processors of frozen French fries, waffle fries and other frozen potato products, acquired Meijer Frozen Foods B.V. for $690 million in cash. The acquisition gives Lamb Weston a strong platform to sell frozen sweet potatoes and drive growth in Europe and the Middle East, as well as to support its global customer base across key international markets. Meijer Frozen Foods B.V. is one of the larger manufacturers of French fries and potato, which was founded in 1994
The countries covered in the sweet potatoes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The sweet potatoes market research report is one of a series of new reports that provides sweet potatoes market statistics, including sweet potatoes industry global market size, regional shares, competitors with a sweet potatoes market share, detailed sweet potatoes market segments, market trends and opportunities, and any further data you may need to thrive in the sweet potatoes industry. This sweet potatoes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
