Sweet Potato Flour Market Segmented By Sweet Potatoes in Organic and Conventional Nature Used in Bakery, Sauces and Dressings, Smoothies and Juices, Nutraceuticals, Foodservice Industry
Industry: Food and Beverages
Published Date: January-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 273
Report ID: PMRREP19249
The global market for sweet potato flour is set to enjoy a valuation of US$ 820.5 Mn in 2023, and further expand at a CAGR of 4.9% to reach US$ 1,257.1 Mn by the year 2033.
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Sweet Potato Flour Market Size (2023E) |
US$ 820.5 Mn |
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Projected Sales of Sweet Potato Flour (2033F) |
US$ 1,257.1 Mn |
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Value CAGR (2023-2033) |
4.9% |
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Value Share of Top 4 Countries (2022E) |
61.3% |
The global sweet potato flour market has witnessed significant growth in the historical period registering a CAGR of 3.2% in the historical period and was valued at US$ 162.6 Mn in 2023. The market is expected to grow steadily with increasing awareness about applications of sweet potato flour.
Sweet potato flour is a rich source of vitamins A and C, carbohydrates, and other nutrients. It has a low glycaemic index (GI). Manufacturers of sweet potato flour are presenting their products as dietary and nutritional supplements to consumers. These products can be mixed with cakes, pancakes, protein shakes, and energy drinks to add nutritional value to the food. This strategy is expected to fuel the growth of the global sweet potato flour market over the coming years.
Sweet potato flour can be used as a substitute for other flours, as well as be mixed with any other flour. It can be used to make pasta, pancakes, bread, cookies, etc., as well as a thickening agent in soups, sausages, and gravies. Manufacturers in the foodservice industry and food and beverage industry are anticipated to fuel the demand for sweet potato flour during the forecast period.
The global market for sweet potato flour is estimated to reach an approximate valuation of US$ 1,257.1 Mn in the forecast period.
“Rising Demand for Enriched Flour among Health-Conscious Consumers”
The ongoing health-consciousness trend is expected to have a positive impact on the global sweet potato flour market. Sweet potato flour is versatile and has more nutritional content than traditional flours such as wheat and soy. Sweet potato flour is also rich in carbohydrates, vitamins, calories, iron, and is gluten-free. This makes it attractive to consumers, especially professional athletes and sportsmen who consume it for instant energy and carbs. Thus, manufacturers are expected to increasingly incorporate sweet potato flour into their product offerings.
“Bakery Products: Lucrative Target for Sweet Potato Flour Manufacturers”
Sweet potato flour is becoming the best alternative to wheat flour. Manufacturers in the sweet potato flour market are promoting the product as an alternative to wheat flour for use in bakery products such as bread, cakes, and muffins, which can now be wholly made from sweet potato flour. Manufacturers are also promoting the use of sweet potato flour as a flour that can be mixed with soy flour, wheat flour, rice flour, cassava flour, maize flour, etc., to improve the taste and texture of final products.
“Demand for Organic, Non-GMO, Gluten-free Products”
Organic food is an ongoing trend in the global food and beverage industry due to which consumers are becoming more aware of impact of food on health. This boosts demand for healthy food products and ingredients. Manufacturers of food and beverage products seek organic ingredients and raw materials to enhance their portfolio by including organic offerings.
“Increasing Per-capita Incomes and Disposable Incomes in Emerging Economies”
Consumer per-capita income is increasing in emerging and established markets. This enables increasing consumer spending on exotic food in emerging markets. Additionally, consumers that seek healthy and natural products are more willing to pay high prices for such products.
The increase in disposable income of consumers which naturally leads to rise in consumption of various food and beverage products. This proves to have a positive impact on growth of global sweet potato flour market.
“Complex and Longer Manufacturing Process to Hamper Profits”
Sweet potato flour is a more complex and time-consuming process than grated sweet potato or puree products. Beta-carotene is easily lost during flour preparation, especially if the product is stored for an extended period of time. In addition, the drying process requires more labour and equipment than the boiling process. To ensure high-quality products, good drying conditions, as well as qualified personnel and processors, are required. The high production costs of sweet potato flour raise the final product's price, which may have an adverse effect on market growth.
What is the Regional Market for Sweet Potato Flour Expected to Look Like?
East Asia is one of the largest producers and consumers of sweet potatoes and sweet potato flour. China, with its huge population, is the largest consumer of sweet potatoes. Key players in the global sweet potato flour market can capitalize on lucrative opportunities in this region.
Africa is one of the leading producers of sweet potatoes, consumed as a staple food in this region. It is also one of the leading importers of wheat flour. The cost of production of sweet potato flour in Africa is much lesser than the cost of importing wheat flour. Thus, governing bodies and organizations in Africa are promoting sweet potato flour as the best alternative to wheat flour. This promotion of sweet potato flour is anticipated to reduce the consumption and import of wheat and other flours, thereby fuelling the growth of the sweet potato flour market.
What is the Outlook for European Sweet Potato Flour market?
The Europe Sweet Potato Flour market is estimated to be valued at US$ 43.9 Mn by the end of 2023, and is expected to reach US$ 71.5 Mn by the end of 2033, registering a CAGR of 6.2% over the forecast period. European consumers are extremely health conscious and the demand for ingredients included in nutraceutical products are very specific and in accordance to which companies customize their product for each target group.
Which Nature of Sweet Potato Flour Accounts for High Revenue Generation?
The largest share is contributed by the conventionally farmed potatoes with a value of US$ 775.4 Mn in 2023 with a value CAGR of 4.6% and around 94% of the market value share. Organic farming is cost and water intensive requiring more input as compared to conventional farming. This coupled with the high cost of potato flour production shifts industrial focus to conventionally farmed potatoes.
Which End Use Accounts for Greater Footprint in the Sweet Potato Flour Market?
The food and beverage segment accounts for a total valuation of US$ 349.0 Mn in 2023 and is expected to be overtaken in its segment by the nutraceutical segment based on forecast value CAGR of 4.5% and 5.2% respectively. The increasing usage of potato flour by manufacturers in the food and beverage sector has resulted for the higher value share.
The enormous number of regional competitors dominate the market for sweet potato flour on a global scale. Businesses operating on a regional scale make up about 40–50% of the market. Manufacturers of sweet potato flour primarily sell to the food market and for industrial purposes. Some of the prominent players in the worldwide sweet potato flour market include Saipro Biotech Private Limited, FutureCeuticals, Inc., Milne MicroDried, Xian Shunyi Bio-Chemical Technology Co., Ltd., BULK POWDERS, Hearthy Foods, and Azuri Health Ltd. Market shares for international and domestic companies are 20–30% and 15–25%, respectively. These businesses are smaller-scale and more focused on exports.
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Attribute |
Details |
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Forecast period |
2023-2033 |
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Historical data available for |
2018-2022 |
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Market analysis |
USD million for value |
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Key regions covered |
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Key countries covered |
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Key market segments covered |
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Key companies profiled |
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Report coverage |
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Customization & pricing |
Available upon request |
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The global market for sweet potato flour has a value of US$ 820.5 Mn in 2023.
The global market for sweet potato flour has a value CAGR of 3.2% from 2018-2022.
The global market for sweet potato flour has a value of US$ 1,257.1 Mn in 2033.
The global market for sweet potato flour has a value CAGR 4.9% from 2023-2033.
There are various types of sweet potatoes being cultivated as of now, like purple sweet potato, white sweet potato, and yellow sweet potato. This is the ongoing trend.
The fact that sweet potato flour is being increasingly used amongst professional athletes needing instant carbohydrates is driving the demand therein. Also, sweet potato flour is being used in bakeries for enhancing quality of the subsequent product.
The top 5 players such as Glean, LLC, Saipro Biotech Pvt. Ltd., Azuri Health Ltd., Sacoma Sweet Potatoes, and BULK POWDERS dictate the growth for sweet potato flour market. They control more than 70% of the market share.
The top 5 countries driving the demand for sweet potato flour market include the US, UK, Russia, China, and Japan.
