Yautia (cocoyam) Market

The global yautia (cocoyam) market is expected to see an upward consumption trend over the next eight years, with a forecasted increase in market volume and value. Consumption patterns have been relatively stable, with the United States showing the highest growth rates in both consumption and imports. Key producing and exporting countries include Cuba, Venezuela, Ecuador, and Mexico. Import prices have fluctuated, with the United States dominating import structures. Export volumes have seen strong increases, particularly from Mexico and Ecuador. Despite some fluctuations, export prices have shown a mild increase over the last decade.

Market Forecast

Driven by rising demand for yautia (cocoyam) worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.9% for the period from 2022 to 2030, which is projected to bring the market volume to 469K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.0% for the period from 2022 to 2030, which is projected to bring the market value to $471M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Yautia

Global yautia (cocoyam) consumption fell slightly to 404K tons in 2022, standing approx. at the year before. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak volume of 541K tons. From 2015 to 2022, the growth of the global (cocoyam) consumption failed to regain momentum.

The global yautia (cocoyam) market size contracted to $344M in 2022, waning by -8.4% 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 saw a relatively flat trend pattern. As a result, consumption attained the peak level of $489M. From 2017 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Cuba (117K tons), Venezuela (85K tons) and Nicaragua (50K tons), together comprising 62% of global consumption. El Salvador, Mexico, the Dominican Republic and the United States lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +15.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Cuba ($101M), Venezuela ($70M) and the Dominican Republic ($41M) appeared to be the countries with the highest levels of market value in 2022, with a combined 61% share of the global market. El Salvador, Mexico, Nicaragua and the United States lagged somewhat behind, together comprising a further 30%.

In terms of the main consuming countries, the United States, with a CAGR of +17.8%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of yautia (cocoyam) per capita consumption in 2022 were Cuba (10 kg per person), Nicaragua (7.4 kg per person) and El Salvador (7.3 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the United States (with a CAGR of +14.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Yautia

Global yautia (cocoyam) production was estimated at 430K tons in 2022, picking up by 3.7% on the previous year. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 14% against the previous year. As a result, production reached the peak volume of 565K tons. From 2015 to 2022, global (cocoyam) production growth remained at a somewhat lower figure. The general negative trend in terms (cocoyam) output was largely conditioned by a relatively flat trend pattern of the harvested area and temperate growth in yield figures.

In value terms, yautia (cocoyam) production contracted to $351M in 2022 estimated in export price. In general, production, however, saw a slight decline. The pace of growth appeared the most rapid in 2016 with an increase of 48%. As a result, production attained the peak level of $536M. From 2017 to 2022, global (cocoyam) production growth failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were Cuba (117K tons), Venezuela (85K tons) and Nicaragua (52K tons), with a combined 59% share of global production. El Salvador, Mexico, the Dominican Republic and Ecuador lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of +16.3%), while production for the other global leaders experienced more modest paces of growth.

Yield

In 2022, the global average yield of yautia was estimated at 13 tons per ha, increasing by 4.8% on the previous year's figure. The yield figure increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 24%. The global yield peaked in 2022 and is likely to continue growth in years to come.

Harvested Area

In 2022, approx. 32K ha of yautia were harvested worldwide; approximately equating 2021. Overall, the harvested area recorded a perceptible downturn. The most prominent rate of growth was recorded in 2018 when the harvested area increased by 2.3% against the previous year. Over the period under review, the harvested area dedicated to yautia (cocoyam) production attained the maximum at 47K ha in 2013; however, from 2014 to 2022, the harvested area failed to regain momentum.

Imports

World Imports of Yautia

In 2022, overseas purchases of yautia increased by 8.7% to 18K tons, rising for the second year in a row after three years of decline. Over the period under review, imports saw a resilient expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 132%. Over the period under review, global (cocoyam) imports reached the maximum at 18K tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, yautia (cocoyam) imports skyrocketed to $22M in 2022. In general, imports saw a strong expansion. The growth pace was the most rapid in 2013 with an increase of 165% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports By Country

The United States dominates imports structure, amounting to 13K tons, which was near 69% of total imports in 2022. Vietnam (1.7K tons) took the second position in the ranking, followed by Taiwan (Chinese) (1.6K tons) and Canada (1K tons). All these countries together took approx. 24% share of total imports. The Netherlands (302 tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to yautia (cocoyam) imports into the United States stood at +16.1%. At the same time, the Netherlands (+23.2%), Canada (+17.9%), Vietnam (+12.0%) and Taiwan (Chinese) (+10.4%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +23.2% from 2012-2022. The United States (+14 p.p.) and Canada (+1.7 p.p.) significantly strengthened its position in terms of the global imports, while Taiwan (Chinese) saw its share reduced by -2.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($15M) constitutes the largest market for imported yautia worldwide, comprising 69% of global imports. The second position in the ranking was taken by Vietnam ($2.3M), with an 11% share of global imports. It was followed by Taiwan (Chinese), with a 6.7% share.

In the United States, yautia (cocoyam) imports expanded at an average annual rate of +20.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+23.2% per year) and Taiwan (Chinese) (+3.8% per year).

Import Prices By Country

The average yautia (cocoyam) import price stood at $1,180 per ton in 2022, with an increase of 26% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2018 an increase of 33% against the previous year. Global import price peaked at $1,221 per ton in 2019; afterwards, it flattened through to 2022.

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 the Netherlands ($1,694 per ton), while Taiwan (Chinese) ($909 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+10.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Yautia

In 2022, approx. 45K tons of yautia were exported worldwide; with an increase of 101% compared with 2021. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, yautia (cocoyam) exports skyrocketed to $47M in 2022. Overall, exports continue to indicate a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports By Country

Mexico (15K tons) and Ecuador (13K tons) represented roughly 62% of total exports in 2022. It was distantly followed by Costa Rica (7.7K tons), Vietnam (3.3K tons) and the Dominican Republic (2.6K tons), together achieving a 30% share of total exports. Nicaragua (2K tons) and the United States (1K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Mexico (with a CAGR of +100.2%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest yautia (cocoyam) supplying countries worldwide were Ecuador ($17M), Costa Rica ($11M) and Mexico ($9M), together comprising 78% of global exports.

Among the main exporting countries, Mexico, with a CAGR of +95.0%, recorded the highest rates of growth with regard to the value of exports, 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 yautia (cocoyam) export price amounted to $1,043 per ton, surging by 41% against the previous year. Over the period under review, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, yautia (cocoyam) export price increased by +48.8% against 2020 indices. The most prominent rate of growth was recorded in 2016 an increase of 65%. As a result, the export price reached the peak level of $1,065 per ton. From 2017 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Costa Rica ($1,382 per ton), while Nicaragua ($450 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform