Apr 11, 2025
IndexBox has just published a new report: Asia-Pacific – Sweet Potato – Market Analysis, Forecast, Size, Trends and Insights.
The sweet potato market in the Asia-Pacific region is set to experience an upward consumption trend over the next decade, with a forecasted increase in market volume and value. A slight growth in performance is expected, with a projected CAGR of +0.2% for volume and +0.1% for value from 2024 to 2035.
Market Forecast
Driven by rising demand for sweet potato in Asia-Pacific, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.2% for the period from 2024 to 2035, which is projected to bring the market volume to 60M tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +0.1% for the period from 2024 to 2035, which is projected to bring the market value to $44.5B (in nominal wholesale prices) by the end of 2035.
Consumption
Asia-Pacific’s Consumption of Sweet Potatoes
In 2024, after three years of decline, there was growth in consumption of sweet potatoes, when its volume increased by 0.1% to 59M tons. In general, consumption, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the consumption volume increased by 2.8% against the previous year. Over the period under review, consumption attained the maximum volume at 66M tons in 2013; however, from 2014 to 2024, consumption stood at a somewhat lower figure.
The value of the sweet potato market in Asia-Pacific declined modestly to $44.1B in 2024, therefore, remained relatively stable 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). Over the period under review, consumption, however, showed a slight reduction. Over the period under review, the market attained the peak level at $62.6B in 2018; however, from 2019 to 2024, consumption failed to regain momentum.
Consumption By Country
China (51M tons) constituted the country with the largest volume of sweet potato consumption, comprising approx. 87% of total volume. Moreover, sweet potato consumption in China exceeded the figures recorded by the second-largest consumer, Indonesia (1.8M tons), more than tenfold. India (1.2M tons) ranked third in terms of total consumption with a 2.1% share.
In China, sweet potato consumption remained relatively stable over the period from 2013-2024. In the other countries, the average annual rates were as follows: Indonesia (-2.6% per year) and India (+0.8% per year).
In value terms, China ($32.3B) led the market, alone. The second position in the ranking was taken by India ($2.4B). It was followed by Vietnam.
From 2013 to 2024, the average annual growth rate of value in China amounted to -1.1%. In the other countries, the average annual rates were as follows: India (+0.4% per year) and Vietnam (-3.4% per year).
In 2024, the highest levels of sweet potato per capita consumption was registered in China (36 kg per person), followed by Vietnam (9.2 kg per person), Indonesia (6.2 kg per person) and India (0.9 kg per person), while the world average per capita consumption of sweet potato was estimated at 14 kg per person.
In China, sweet potato per capita consumption plunged by an average annual rate of -1.3% over the period from 2013-2024. In the other countries, the average annual rates were as follows: Vietnam (-4.3% per year) and Indonesia (-3.7% per year).
Production
Asia-Pacific’s Production of Sweet Potatoes
In 2024, production of sweet potatoes was finally on the rise to reach 59M tons after three years of decline. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 2.8% against the previous year. Over the period under review, production reached the maximum volume at 66M tons in 2013; however, from 2014 to 2024, production stood at a somewhat lower figure. The general negative trend in terms output was largely conditioned by a relatively flat trend pattern of the harvested area and a relatively flat trend pattern in yield figures.
In value terms, sweet potato production fell to $43.4B in 2024 estimated in export price. In general, production, however, showed a slight downturn. The most prominent rate of growth was recorded in 2016 with an increase of 32% against the previous year. Over the period under review, production hit record highs at $68.3B in 2018; however, from 2019 to 2024, production failed to regain momentum.
Production By Country
China (51M tons) remains the largest sweet potato producing country in Asia-Pacific, comprising approx. 87% of total volume. Moreover, sweet potato production in China exceeded the figures recorded by the second-largest producer, Indonesia (1.8M tons), more than tenfold. India (1.2M tons) ranked third in terms of total production with a 2.1% share.
In China, sweet potato production remained relatively stable over the period from 2013-2024. In the other countries, the average annual rates were as follows: Indonesia (-2.6% per year) and India (+0.8% per year).
Yield
The average sweet potato yield amounted to 20 tons per ha in 2024, remaining stable against 2023. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the yield increased by 4.6% against the previous year. Over the period under review, the sweet potato yield hit record highs at 20 tons per ha in 2022; afterwards, it flattened through to 2024.
Harvested Area
In 2024, the total area harvested in terms of sweet potatoes production in Asia-Pacific shrank to 3M ha, remaining stable against 2023. Over the period under review, the harvested area continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2018 when the harvested area increased by 1.7%. The level of harvested area peaked at 3.5M ha in 2013; however, from 2014 to 2024, the harvested area stood at a somewhat lower figure.
Imports
Asia-Pacific’s Imports of Sweet Potatoes
After two years of decline, purchases abroad of sweet potatoes increased by 8.5% to 79K tons in 2024. In general, imports posted a perceptible expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 280% against the previous year. As a result, imports reached the peak of 251K tons. From 2020 to 2024, the growth of imports remained at a somewhat lower figure.
In value terms, sweet potato imports amounted to $88M in 2024. Total imports indicated a buoyant expansion from 2013 to 2024: its value increased at an average annual rate of +5.7% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -10.7% against 2021 indices. The pace of growth appeared the most rapid in 2019 with an increase of 32%. Over the period under review, imports hit record highs at $98M in 2021; however, from 2022 to 2024, imports failed to regain momentum.
Imports By Country
In 2024, Malaysia (25K tons), distantly followed by Thailand (16K tons), China (10K tons), Japan (10K tons), Singapore (7.4K tons) and Hong Kong SAR (3.8K tons) represented the largest importers of sweet potatoes, together committing 92% of total imports. Macao SAR (1.4K tons) followed a long way behind the leaders.
From 2013 to 2024, the biggest increases were recorded for China (with a CAGR of +44.2%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest sweet potato importing markets in Asia-Pacific were Thailand ($22M), Japan ($18M) and Malaysia ($14M), with a combined 61% share of total imports. Singapore, Hong Kong SAR, China and Macao SAR lagged somewhat behind, together accounting for a further 30%.
Among the main importing countries, China, with a CAGR of +28.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices By Country
The import price in Asia-Pacific stood at $1,115 per ton in 2024, shrinking by -2.5% against the previous year. Import price indicated a noticeable increase from 2013 to 2024: its price increased at an average annual rate of +2.8% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 an increase of 192%. The level of import peaked at $1,144 per ton in 2023, and then declined in the following year.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($2,634 per ton), while China ($501 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Thailand (+9.3%), while the other leaders experienced more modest paces of growth.
Exports
Asia-Pacific’s Exports of Sweet Potatoes
In 2024, shipments abroad of sweet potatoes was finally on the rise to reach 95K tons after three years of decline. Overall, exports enjoyed pronounced growth. The pace of growth was the most pronounced in 2017 with an increase of 54%. As a result, the exports attained the peak of 152K tons. From 2018 to 2024, the growth of the exports failed to regain momentum.
In value terms, sweet potato exports amounted to $93M in 2024. Over the period under review, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 79% against the previous year. Over the period under review, the exports attained the peak figure at $171M in 2017; however, from 2018 to 2024, the exports remained at a lower figure.
Exports By Country
In 2024, China (36K tons), distantly followed by Vietnam (22K tons), Lao People’s Democratic Republic (10K tons), Indonesia (8.1K tons), Japan (7.4K tons) and Thailand (4.4K tons) were the largest exporters of sweet potatoes, together comprising 93% of total exports.
From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Thailand (with a CAGR of +85.6%), while the other leaders experienced more modest paces of growth.
In value terms, the largest sweet potato supplying countries in Asia-Pacific were Vietnam ($28M), Japan ($22M) and China ($20M), with a combined 76% share of total exports. Indonesia, Lao People’s Democratic Republic and Thailand lagged somewhat behind, together comprising a further 14%.
In terms of the main exporting countries, Thailand, with a CAGR of +65.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices By Country
The export price in Asia-Pacific stood at $973 per ton in 2024, which is down by -5.1% against the previous year. Over the last eleven-year period, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2016 an increase of 18%. Over the period under review, the export prices reached the peak figure at $1,187 per ton in 2018; however, from 2019 to 2024, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Japan ($2,932 per ton), while Lao People’s Democratic Republic ($466 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Lao People’s Democratic Republic (-0.2%), while the other leaders experienced a decline in the export price figures.
