Rockville, Dec. 14, 2023 (GLOBE NEWSWIRE) -- As per a new study published by Fact.MR, a market research and competitive intelligence provider, the global Sweet Potato Flour Market is estimated at a value of US$ 850.2 million in 2024 and is forecasted to expand at 4.6% CAGR over the next 10 years (2024 to 2034). Expanding global vegan population is a key factor set to boost worldwide consumption of sweet potato flour in the long run.
Growing awareness regarding gluten intolerance, the increasing popularity of non-GMO and organic products, and evolving consumer preferences are also estimated to play their part in promoting sweet potato flour sales going forward. Shifting global consumer trends are driving food and beverage manufacturers towards choosing plant-based ingredients, thereby positively impacting the consumption of sweet potato flour.
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Key Segments of Sweet Potato Flour Industry Research Report
| By Nature | By End Use | By Distribution Channel |
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Developed regions such as Europe and North America are projected to emerge as highly lucrative spaces for sweet potato flour suppliers by the end of the study period as the popularity of veganism increases in these regions. This study by Fact.MR, a market research and competitive intelligence provider, suggests that increasing health consciousness could potentially boost the consumption of organic sweet potato flour through 2034.
Key Takeaways from Market Study
- The global sweet potato flour market is estimated at US$ 850.2 million in 2024.
- Demand for sweet potato flour is projected to rise at a CAGR of 4.6% from 2024 to 2034.
- The market is forecasted to reach US$ 1.34 billion by the end of 2034.
- Growing incidence of celiac disease, rising demand for gluten-free flour, extensive adoption of plant-based diets, and expanding vegan population are drivers that spearhead sweet potato flour demand.
- High cost of sweet potato flour and disruptions in the supply chain are estimated to be key market constraints that companies should watch out for in the future.
- Demand for sweet potato flour in the East Asian region is projected to increase at 5% CAGR over the next 10 years.
- Organic sweet potato flour is projected to account for 38.2% of global revenue share by 2034.
- Sweet potato flour sales in North America are projected to reach US$ 193.8 million in 2024.
- Sweet potato flour sales via business-to-consumer channels are projected to rise at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2034.
“Sweet potato flour companies should focus on capitalizing on the growing popularity of plant-based ingredients in the food & beverages industry going forward,” says a Fact.MR analyst
Winning Strategy
Sweet potato flour manufacturers should focus on the optimization of their manufacturing process to improve their sales and profitability in the future. Sweet potato flour suppliers should consider investing in research and development to create innovative products using sweet potato flour, to appeal to a broader customer base in the future.
Growing Demand for Sweet Potato Products in the United States
Increased awareness of the health benefits associated with sweet potatoes is driving demand for various sweet potato products in the United States. A rising number of individuals in the country are embracing plant-based diets, a trend expected to significantly boost sales of sweet potato flour, sweet potato flakes, and other related products in the years ahead.
Furthermore, the prevalence of celiac disease and an increasing number of people with gluten intolerance are anticipated to further drive the demand for sweet potato flour in the long term.
Rising Preference for Clean Label and Organic Foods in Europe
European consumers are demonstrating a willingness to invest more in food products made from clean label and organic ingredients, reflecting a growing emphasis on sustainable and ethical eating practices. The rapid expansion of the vegan population and the increasing availability of plant-based food items in the European region are poised to support the consumption of sweet potato flour in the foreseeable future.
Key markets such as the United Kingdom, Germany, France, Sweden, and the Netherlands are anticipated to emerge as particularly rewarding for sweet potato products through the year 2034.
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| Report Attribute | Details |
| Value Projection (2034) | USD 1.34 Billion |
| Growth Rate (2024-2034) | 4.6% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global sweet potato flour market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights on the market based on nature (organic conventional), distribution channel (business-to-business, business-to-consumer), and end use (food & beverage industry, foodservice industry, nutraceuticals, retail/households), across six major regions of the world (North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA).
Checkout More Related Studies Published by Fact.MR Research:
Non-GMO Flour Market: The global non-GMO flour market has reached a size of US$ 64.25 billion and is anticipated to increase to US$ 88.46 billion by the end of 2032.
Functional Flour Market: In 2023, the global functional flour market stands at US$ 45 billion and is estimated to reach a market size of US$ 93 billion by the end of 2033.
Frozen Potato Market: Across the 2022-2032 period of assessment, the frozen potato market growth is expected to accelerate at a whopping 6.0% CAGR, reaching US$ 109.72 Billion.
About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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