The global sweet potato market is accounted to US$ 48,628.8 Mn in 2018 and is expected to grow at a CAGR of 2.1% during the forecast period 2019 – 2027, to account to US$ 58,470.0 Mn by 2027.
The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Under the applications segment, the food segment accounted for the largest share in the global sweet potato market. The high nutritional profile of sweet potato and rising demand from developing countries such as Mexico, Greece, Italy, and Indonesia among are the key factors that promote the need for sweet potato in the global sweet potato market. Furthermore, sweet potato is a rich source of fibers, minerals, and vitamins, which help to provides numerous health benefits. Sweet potato has essential fatty acids, and its consumption helps to reduce the risk of cardiovascular diseases. Therefore, the rise in awareness about the health benefits associated with sweet potato consumption is driving the food segment growth in the global sweet potato market.
Sweet potato is a part of traditional food in many regions and is mostly consumed owing to its nutritional benefits and several health benefits. It is considered as a good source of fatty acids, vitamins, minerals, fibers, and essential micronutrients. Also, the Food and Drug Administration (FDA) has approved the sweet potatoes with nutrient content descriptors, which characterize it as saturated fat-free, fat-free, cholesterol-free, low sodium, high in vitamin C and vitamin A, and a good source of fiber. Currently, high growth in population and growing awareness amongst consumer about sweet potato as a good source of fiber have fueled the growth of the sweet potato market. Along with this, the increase in purchasing power of people in developing nations has also supported the market growth. Thus, the global rise in food application is driving the growth of the sweet potato market.
The market for global sweet potato is concentrated with some very well-established players. Some of the key players in the global sweet potato market include AV Thomas Produce, Dole Food Company Inc., Ham Farms, Jackson Farming Company, Lamb Weston Holdings, Inc., McCain Foods Limited, Nash Produce, Simplot Food Group, The Kraft Heinz Company, Yantai China Pet Foods Co., Ltd, among others.
Global Sweet Potato Market — By Region Breakdown, 2018
