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World - Sweet Potato - Market Analysis, Forecast, Size, Trends and Insights
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The global sweet potato market is projected to experience growth in both consumption and production over the next eight years. China dominates in both consumption and production, while the Netherlands and the UK lead in sweet potato imports. Despite a decline in the average sweet potato import price in 2022, overall market trends indicate a positive trajectory in the global sweet potato industry.
Market Forecast
Driven by rising demand for sweet potato worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.5% for the period from 2022 to 2030, which is projected to bring the market volume to 97M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market value to $80.6B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Sweet Potatoes
In 2022, global consumption of sweet potatoes declined modestly to 87M tons, approximately mirroring the previous year. Over the period under review, consumption showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 1.6%. Over the period under review, global consumption attained the peak volume at 94M tons in 2012; however, from 2013 to 2022, consumption remained at a lower figure.
The global sweet potato market size was estimated at $63B in 2022, increasing by 3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the global market reached the maximum level at $87B in 2018; however, from 2019 to 2022, consumption remained at a lower figure.
Consumption By Country
China (47M tons) constituted the country with the largest volume of sweet potato consumption, accounting for 54% of total volume. Moreover, sweet potato consumption in China exceeded the figures recorded by the second-largest consumer, Malawi (8.1M tons), sixfold. The third position in this ranking was taken by Tanzania (4.3M tons), with a 4.9% share.
In China, sweet potato consumption decreased by an average annual rate of -2.5% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: Malawi (+8.4% per year) and Tanzania (+3.5% per year).
In value terms, China ($31.1B) led the market, alone. The second position in the ranking was held by Malawi ($3B). It was followed by Tanzania.
In China, the sweet potato market remained relatively stable over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Malawi (+4.5% per year) and Tanzania (+3.0% per year).
In 2022, the highest levels of sweet potato per capita consumption was registered in Malawi (399 kg per person), followed by Rwanda (101 kg per person), Tanzania (67 kg per person) and Angola (53 kg per person), while the world average per capita consumption of sweet potato was estimated at 11 kg per person.
From 2012 to 2022, the average annual rate of growth in terms of the sweet potato per capita consumption in Malawi stood at +5.5%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Rwanda (+0.6% per year) and Tanzania (+0.5% per year).
Production
World Production of Sweet Potatoes
For the fifth year in a row, the global market recorded decline in production of sweet potatoes, which decreased by -1.2% to 87M tons in 2022. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 1.7% against the previous year. Over the period under review, global production attained the peak volume at 94M tons in 2012; however, from 2013 to 2022, production remained at a lower figure. The general negative trend in terms output was largely conditioned by a relatively flat trend pattern of the harvested area and a relatively flat trend pattern in yield figures.
In value terms, sweet potato production stood at $63.2B in 2022 estimated in export price. Overall, the total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -38.4% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 50%. Global production peaked at $102.6B in 2018; however, from 2019 to 2022, production remained at a lower figure.
Production By Country
China (47M tons) remains the largest sweet potato producing country worldwide, comprising approx. 54% of total volume. Moreover, sweet potato production in China exceeded the figures recorded by the second-largest producer, Malawi (8.1M tons), sixfold. Tanzania (4.3M tons) ranked third in terms of total production with a 4.9% share.
In China, sweet potato production declined by an average annual rate of -2.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malawi (+8.4% per year) and Tanzania (+3.5% per year).
Yield
The global average sweet potato yield shrank to 12 tons per ha in 2022, therefore, remained relatively stable against 2021. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 2.2%. Over the period under review, the average sweet potato yield hit record highs at 12 tons per ha in 2019; however, from 2020 to 2022, the yield remained at a lower figure.
Harvested Area
In 2022, the global sweet potato harvested area shrank modestly to 7.3M ha, stabilizing at the previous year's figure. In general, the harvested area saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 1.6%. As a result, the harvested area attained the peak level of 7.9M ha. From 2014 to 2022, the growth of the global sweet potato harvested area remained at a somewhat lower figure.
Imports
World Imports of Sweet Potatoes
After ten years of growth, purchases abroad of sweet potatoes decreased by -1.5% to 845K tons in 2022. Overall, imports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2016 when imports increased by 29%. Over the period under review, global imports reached the peak figure at 857K tons in 2021, and then declined in the following year.
In value terms, sweet potato imports reduced to $741M in 2022. In general, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 33% against the previous year. Global imports peaked at $804M in 2021, and then contracted in the following year.
Imports By Country
In 2022, the Netherlands (182K tons) and the UK (125K tons) represented the major importers of sweet potatoesin the world, together achieving 36% of total imports. It was distantly followed by Canada (82K tons), Belgium (70K tons), France (63K tons), Germany (48K tons) and the United States (47K tons), together making up a 37% share of total imports. Thailand (23K tons), Malaysia (19K tons), Italy (16K tons), the United Arab Emirates (14K tons) and Japan (13K tons) followed a long way behind the leaders.
From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +44.3%), while purchases for the other global leaders experienced more modest paces of growth.
In value terms, the largest sweet potato importing markets worldwide were the Netherlands ($157M), the UK ($94M) and Canada ($61M), with a combined 42% share of global imports. Germany, Belgium, France, the United States, Thailand, Japan, Malaysia, Italy and the United Arab Emirates lagged somewhat behind, together accounting for a further 37%.
Belgium, with a CAGR of +38.9%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices By Country
The average sweet potato import price stood at $877 per ton in 2022, which is down by -6.5% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 14%. As a result, import price reached the peak level of $967 per ton. From 2015 to 2022, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($1,431 per ton), while Malaysia ($540 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+7.4%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Sweet Potatoes
For the eleventh consecutive year, the global market recorded growth in overseas shipments of sweet potatoes, which increased by 1.3% to 790K tons in 2022. In general, exports posted a prominent increase. The pace of growth appeared the most rapid in 2016 with an increase of 39%. The global exports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, sweet potato exports shrank modestly to $689M in 2022. Overall, exports saw a strong increase. The pace of growth appeared the most rapid in 2016 when exports increased by 35% against the previous year. Over the period under review, the global exports attained the maximum at $710M in 2021, and then dropped modestly in the following year.
Exports By Country
In 2022, the United States (252K tons), distantly followed by the Netherlands (156K tons), Egypt (73K tons), Canada (47K tons) and Spain (46K tons) were the largest exporters of sweet potatoes, together committing 73% of total exports. The following exporters - Belgium (25K tons), Vietnam (25K tons), China (22K tons), Indonesia (15K tons), South Africa (14K tons), Portugal (14K tons) and Lao People's Democratic Republic (14K tons) - together made up 16% of total exports.
From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Portugal (with a CAGR of +54.5%), while the other global leaders experienced more modest paces of growth.
In value terms, the largest sweet potato supplying countries worldwide were the United States ($166M), the Netherlands ($162M) and Egypt ($81M), together accounting for 59% of global exports. Spain, Vietnam, Canada, Belgium, Portugal, China, Indonesia, South Africa and Lao People's Democratic Republic lagged somewhat behind, together comprising a further 26%.
Portugal, with a CAGR of +55.8%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
In 2022, the average sweet potato export price amounted to $873 per ton, which is down by -4.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The growth pace was the most rapid in 2014 an increase of 10%. The global export price peaked at $910 per ton in 2021, and then contracted in the following year.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($1,209 per ton), while Lao People's Democratic Republic ($478 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+8.0%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global sweet potato market. 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:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- 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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
- HARVESTED AREA AND YIELD BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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