Global Sweet Potato Market 2024

Sweet Potato Market Size

The global sweet potato market contracted to $X in 2022, reducing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Sweet Potato Production

In value terms, sweet potato production reduced to $X in 2022 estimated in export price. In general, the total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. Global production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

China (X tons) constituted the country with the largest volume of sweet potato production, accounting for X% of total volume. Moreover, sweet potato production in China exceeded the figures recorded by the second-largest producer, Malawi (X tons), sixfold. Tanzania (X tons) ranked third in terms of total production with a X% share.

In China, sweet potato production plunged by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malawi (X% per year) and Tanzania (X% per year).

In 2022, the global average yield of sweet potatoes shrank to X tons per ha, therefore, remained relatively stable against 2021. Overall, the yield recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the yield increased by X% against the previous year. Over the period under review, the average sweet potato yield attained the peak level at X tons per ha in 2019; however, from 2020 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the global sweet potato harvested area contracted modestly to X ha, standing approx. at 2021. In general, the harvested area showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the harvested area increased by X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2014 to 2022, the growth of the global sweet potato harvested area remained at a lower figure.

Sweet Potato Exports

Exports

Global sweet potato exports stood at X tons in 2022, surging by X% on the year before. Over the period under review, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, sweet potato exports declined modestly to $X in 2022. Overall, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the global exports reached the peak figure at $X in 2021, and then fell modestly in the following year.

Exports by Country

In 2022, the United States (X tons), distantly followed by the Netherlands (X tons), Egypt (X tons), Canada (X tons) and Spain (X tons) represented the main exporters of sweet potatoes, together creating X% of total exports. Belgium (X tons), Vietnam (X tons), China (X tons), Indonesia (X tons), South Africa (X tons), Honduras (X tons) and Portugal (X tons) followed a long way behind the leaders.

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

In value terms, the largest sweet potato supplying countries worldwide were the United States ($X), the Netherlands ($X) and Egypt ($X), together accounting for X% of global exports. Spain, Vietnam, Canada, Belgium, Portugal, Honduras, China, Indonesia and South Africa lagged somewhat behind, together comprising a further X%.

Portugal, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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

The average sweet potato export price stood at $X per ton in 2022, falling by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 when the average export price increased by X%. The global export price peaked at $X per ton in 2021, and then dropped slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Canada ($X per ton) was amongst the lowest.

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

Sweet Potato Imports

Imports

Global sweet potato imports was estimated at X tons in 2022, approximately equating 2021 figures. Over the period under review, imports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Global imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, sweet potato imports contracted to $X in 2022. In general, imports enjoyed prominent growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Global imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

The Netherlands (X tons) and the UK (X tons) represented roughly X% of total imports in 2022. Canada (X tons) took the next position in the ranking, followed by Belgium (X tons), France (X tons) and Germany (X tons). All these countries together took approx. X% share of total imports. The United States (X tons), Thailand (X tons), Saudi Arabia (X tons), Malaysia (X tons), Italy (X tons) and the United Arab Emirates (X tons) took a minor share of total imports.

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

In value terms, the Netherlands ($X), the UK ($X) and Canada ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of global imports. Germany, Belgium, France, the United States, Thailand, Saudi Arabia, the United Arab Emirates, Malaysia and Italy lagged somewhat behind, together accounting for a further X%.

Belgium, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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 $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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 Germany ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform