Sweet Potatoes Market to Observe Utmost Growth of USD 50,534.33 Million by 2029, Size, Share, Trends, Key Drivers, Development Trends and Revenue Outlook
NEW YORK, Sept. 22, 2022
NEW YORK, Sept. 22, 2022 /PRNewswire/ -- "Global Sweet Potatoes Market" from Data Bridge Market Research, This research helps businesses thrive by offering in-depth market analyses and insights. The information in Sweet Potatoes report is very helpful for this industry in terms of what is now accessible, what the market is expecting, the state of the competition, and what needs to be done to outdo the competition. Companies and individuals interested in the market will find the report's presentation of critical facts on the market status of global and regional manufacturers to be an invaluable resource. This Sweet Potatoes research is essential for maximizing return on investment (ROI) because it details crucial market aspects like brand awareness, market landscape, potential future issues, industry trends, and customer behavior. This global Sweet Potatoes market research report has complete overview of the market, covering various aspects such as product definition, segmentation based on various parameters, and the prevailing vendor landscape. Information and data provided through the Sweet Potatoes report can be very decisive for the industry when it comes to dominating the market or creating a mark in the market as a new emergent.
Data Bridge Market Research analyses that the sweet potatoes market is expected to reach USD 50,534.33 million by 2029, with a CAGR of 5.9% during the forecast period.
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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 food products because they are rich in a variety of vitamins and minerals. Sweet potatoes are used in many different ways across regions.
The global sweet potatoes market is driven by increased applications for sweet potatoes across industries. Additionally, the global sweet potatoes market will be fueled by sweet potatoes' many nutritional advantages. At the same time, the primary factors limiting the global sweet potato market are the higher price of sweet potato products compared to potatoes and the ease with which potatoes can be substituted in the market. 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 factors driving the market growth are growing awareness of sweet potatoes' health benefits over potatoes, 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.
- 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
Some of the major players operating in the potatoes market are
- Conagra Brands, Inc.,
- Nash Produce,
- Sweet Potato Spirit Company,
- Ham Farms,
- Dole Food Company, Inc.,
- McCain Foods Limited,
- A.V. Thomas Produce,
- Jackson Farming Company,
- J.R. Simplot Company,
- Idahoan Foods, LLC.,
- KP Snacks,
- Urban Platter,
- Jackson's Chips,
- Lamb Weston Holdings, Inc.,
- BIRDS EYE LIMITED,
- The Kraft Heinz Company,
- Bhanu Farms
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Important Facts about This Market Report:
- Sweet Potatoes research report reveals this business overview, product overview, market share, demand and supply ratio, supply chain analysis, and import/export details
- The Industry report captivates different approaches and procedures endorsed by the market key players to make crucial business decisions
- This research presents some parameters such as production value, marketing strategy analysis, Distributors/Traders and effect factors are also mentioned
- The historical and current data is provided in the report based on which the future projections are made and the industry analysis is performed
- The import and export details along with consumption value and production capability of every region is mentioned in the report
- Porter's five forces analysis, value chain analysis, SWOT analysis are some additional important parameters used for the analysis of market growth
- The report provides the clients with the facts and figures about the market on the basis of evaluation of the Sweet Potatoes industry through primary and secondary research methodologies
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:
Key Industry 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 in the population.
- INCREASING CONSUMPTION OF PROCESSED FOOD
The market consumption trend towards processed food has been driven by people's changing lifestyles and hectic schedules. The unfortunate global spread of the coronavirus has caused this consumption to rise even further. Because of the rise in consumption, businesses have been forced to develop new products and healthier alternatives. Despite all the innovations, sweet potatoes are the only ones used as an ingredient in processed foods.
- GROWING MARKET FOR FOODSERVICE IN THE SWEET POTATO SECTOR
Any food-related trend in the market is not just limited to producers of food and beverages. The movement spreads across industries and results in fresh ideas. Foodservice sectors have been incorporating this change in their strategic advancements as the food and beverage sector has seen progressive growth in the consumption and demand for sweet potato products. Many food service businesses have been introducing new products based on sweet potatoes as an ingredient in various regions.
- HIGHER PRICE OF SWEET POTATO PRODUCTS COMPARED TO POTATOES
Sweet potato products are more expensive than potato products 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.
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Global Sweet Potatoes Market: Segmentation
The global sweet potatoes market is segmented into six notable segments based on type, product type, nature, packaging type, end user, 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.
- Whole Product
- Processed Sweet Potatoes
- Sweet Potato Flour
By Product Type
By Packaging Type
By End User
- Food Service Sector
- Food & Beverages Industry
By Distribution Channel
- Stored based retailing
- Online retail
Global Sweet Potatoes Market: Regional Analysis
The countries covered in the sweet potatoes market report are the U.S., Canada, and Mexico in North America. Germany, the U.K., Italy, France, Spain, Switzerland, Netherlands, Belgium, Russia, Turkey, Rest of Europe in Europe. Japan, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific in Asia-Pacific. South Africa, UAE., Saudi Arabia, Kuwait, and the Middle East and Africa (MEA) in the Middle East and Africa. Brazil, Argentina, and Rest of South America in South America
Asia-Pacific dominates the global sweet potatoes market with a CAGR of around 6.4%. Asia-Pacific 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 Asia-Pacific. Moreover, the plant-based food market is growing progressively in the Asia-Pacific region. The growth of this market will directly impact the development of the sweet potatoes market. However, high prices of sweet potatoes are likely to restrict the market growth.
TABLE OF CONTENTS
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers And Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
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