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Latin America and the Caribbean - Sweet Potato - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Apr 1, 2024

Latin America and the Caribbean - Sweet Potato - Market Analysis, Forecast, Size, Trends and Insights

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Article Publishing Date: Jan 29, 2021

The Sweet Potato Market in Latin America and the Caribbean Peaked at $3.4B

IndexBox has just published a new report: 'Latin America and the Caribbean - Sweet Potato - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

In 2019, the Latin American sweet potato market was finally on the rise to reach $3.4B for the first time since 2016, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.2% over the period from 2013 to 2019; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level in 2019 and is likely to see further growth in years to come.

Consumption by Country

The countries with the highest volumes of sweet potato consumption in 2019 were Haiti (759K tons), Brazil (756K tons) and Cuba (564K tons), together accounting for 68% of total consumption. These countries were followed by Argentina, Peru, Uruguay and Mexico, which together accounted for a further 25% (IndexBox estimates).

From 2013 to 2019, the most notable rate of growth in terms of sweet potato consumption, amongst the key consuming countries, was attained by Mexico, while sweet potato consumption for the other leaders experienced more modest paces of growth.

In value terms, Haiti ($1.4B) led the market, alone. The second position in the ranking was occupied by Cuba ($619M). It was followed by Brazil.

The countries with the highest levels of sweet potato per capita consumption in 2019 were Haiti (67 kg per person), Cuba (49 kg per person) and Uruguay (24 kg per person).

Production in Latin America and the Caribbean

For the seventh year in a row, Latin America and the Caribbean recorded growth in the production of sweet potato, which increased by 4.5% to 3.1M tons in 2019. The total output volume increased at an average annual rate of +4.0% from 2013 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The generally positive trend in terms of output was largely conditioned by a perceptible increase of the harvested area and a relatively flat trend pattern in yield figures.

Production by Country

The countries with the highest volumes of sweet potato production in 2019 were Brazil (764K tons), Haiti (759K tons) and Cuba (564K tons), together comprising 67% of total production. These countries were followed by Argentina, Peru, Uruguay and Mexico, which together accounted for a further 25%.

From 2013 to 2019, the biggest increases were in Mexico, while sweet potato production for the other leaders experienced more modest paces of growth.

Sweet Potato Harvested Area and Yield

The sweet potato harvested area was estimated at 294K ha in 2019, growing by 1.6% on the year before. The harvested area increased at an average annual rate of +4.3% from 2013 to 2019; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years.

The average sweet potato yield amounted to 11 tons per ha in 2019, picking up by 2.8% compared with the previous year's figure. Overall, the yield, however, showed a relatively flat trend pattern.

Imports in Latin America and the Caribbean

In 2019, approx. 13K tons of sweet potato were imported in Latin America and the Caribbean; which is down by -5.9% against 2018. Total imports indicated a buoyant increase from 2013 to 2019: its volume increased at an average annual rate of +9.6% over the last six-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +73.4% against 2013 indices. In value terms, sweet potato imports amounted to $7M (IndexBox estimates) in 2019.

Imports by Country

Mexico was the major importer of sweet potato in Latin America and the Caribbean, with the volume of imports reaching 5.3K tons, which was near 42% of total imports in 2019. Argentina (2.3K tons) took the second position in the ranking, followed by Ecuador (1,479 tons), Uruguay (1,194 tons), Paraguay (602 tons) and Chile (583 tons). All these countries together held approx. 49% share of total imports. Trinidad and Tobago (393 tons) followed a long way behind the leaders.

Imports into Mexico increased at an average annual rate of +15.2% from 2013 to 2019. At the same time, Paraguay (+60.8%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +60.8% from 2013-2019. Ecuador experienced a relatively flat trend pattern. By contrast, Chile (-4.9%), Uruguay (-5.6%), Argentina (-8.6%) and Trinidad and Tobago (-23.2%) illustrated a downward trend over the same period.

In value terms, Mexico ($3.3M) constitutes the largest market for imported sweet potato in Latin America and the Caribbean, comprising 48% of total imports. The second position in the ranking was occupied by Chile ($772K), with an 11% share of total imports. It was followed by Argentina, with an 8.5% share.

In Mexico, sweet potato imports expanded at an average annual rate of +24.5% over the period from 2013-2019. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+20.8% per year) and Argentina (-11.0% per year).

Import Prices by Country

The sweet potato import price in Latin America and the Caribbean stood at $551 per ton in 2019, surging by 12% against the previous year. Over the last six-year period, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2017 an increase of 14% against the previous year. The level of imports peaked in 2019 and is expected to retain growth in the immediate term.

Prices varied noticeably by the country of destination; the country with the highest price was Chile ($1,324 per ton), while Ecuador ($165 per ton) was amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was attained by Chile, while the other leaders experienced more modest paces of growth.

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Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the sweet potato market in Latin America and the Caribbean. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 122 - Sweet potatoes

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in Latin America and the Caribbean, split by region and country
  • Trade (exports and imports) in Latin America and the Caribbean
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY
    3. HARVESTED AREA AND YIELD BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Anguilla
    • Antigua and Barbuda
    • Argentina
    • Aruba
    • Bahamas
    • Barbados
    • Belize
    • Bolivia
    • Brazil
    • British Virgin Islands
    • Cayman Islands
    • Chile
    • Colombia
    • Costa Rica
    • Cuba
    • Curacao
    • Dominica
    • Dominican Republic
    • Ecuador
    • El Salvador
    • Falkland Islands (Malvinas)
    • French Guiana
    • Grenada
    • Guadeloupe
    • Guatemala
    • Guyana
    • Haiti
    • Honduras
    • Jamaica
    • Martinique
    • Mexico
    • Montserrat
    • Nicaragua
    • Panama
    • Paraguay
    • Peru
    • Saint Kitts and Nevis
    • Saint Lucia
    • Saint Vincent and the Grenadines
    • Saint Maarten (Dutch part)
    • Suriname
    • Trinidad and Tobago
    • Turks and Caicos Islands
    • United States Virgin Islands
    • Uruguay
    • Venezuela
    • Puerto Rico

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Harvested Area, By Country, 2012-2023
    7. Yield, By Country, 2012-2023
    8. Imports, In Physical Terms, By Country, 2012–2023
    9. Imports, In Value Terms, By Country, 2012–2023
    10. Import Prices, By Country Of Destination, 2012–2023
    11. Exports, In Physical Terms, By Country, 2012–2023
    12. Exports, In Value Terms, By Country, 2012–2023
    13. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Yield And Growth
    12. Exports And Growth
    13. Export Prices And Growth
    14. Market Size And Growth
    15. Per Capita Consumption
    16. Imports And Growth
    17. Import Prices
    18. Production, In Physical Terms, 2012–2023
    19. Production, In Value Terms, 2012–2023
    20. Area Harvested, 2012–2023
    21. Yield, 2012–2023
    22. Production, By Country, 2023
    23. Production, In Physical Terms, By Country, 2012–2023
    24. Harvested Area, By Country, 2023
    25. Harvested Area, By Country, 2012-2023
    26. Yield, By Country, 2012-2023
    27. Imports, In Physical Terms, 2012–2023
    28. Imports, In Value Terms, 2012–2023
    29. Imports, In Physical Terms, By Country, 2023
    30. Imports, In Physical Terms, By Country, 2012–2023
    31. Imports, In Value Terms, By Country, 2012–2023
    32. Import Prices, By Country, 2012–2023
    33. Exports, In Physical Terms, 2012–2023
    34. Exports, In Value Terms, 2012–2023
    35. Exports, In Physical Terms, By Country, 2023
    36. Exports, In Physical Terms, By Country, 2012–2023
    37. Exports, In Value Terms, By Country, 2012–2023
    38. Export Prices, 2012–2023

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