Sweet Potato Fries Market to Cross US$ 2 Bn Valuation by 2030; Covid-19 Pandemic Effect on F&B Sector to Hurt Market Growth in Near-term
Published On : Jun 08, 2020
Increasing snacking behavior among consumers is major snack manufacturers increase their sales, but as health consciousness is also a rising trend across the world, the demand for nutritional and healthy snack products is also growing. Sweet potato-processed products are emerging as a healthy and nutritional alternative to fries, chips, and other similar products, as manufacturers are keen to cater the growing health conscious consumer base. Sweet potatoes contain high amounts of beta-carotene, which makes sweet potato fries standout antioxidant food products. Moreover, the presence of high vitamin A is also a beneficial factor that sweet potato fries has to offer. White potato-made snacks do not contain as much antioxidants and vitamins in their nutritional composition. This has shifted manufacturers’ focus on producing more sweet potato fries and related products.
The global sweet potato fries market has witnessed substantial growth over the past few years, and this trend is expected to continue throughout the course of the forecast period (2020 to 2030), with the market estimated to rise at a steady CAGR of 5% during the forecast period.
Key Takeaways from Sweet Potato Fries Market Study
- Considering the fact that chips/crisps are one of the most favorite and traditionally-consumed snacks, it is leading to a better market scenario for this product segment, which has the highest market value share.
- The foodservice industry is projected to exhibit a higher growth rate in the global sweet potato fries market, attributable to the increasing utilization of sweet potato-processed products in restaurants, cafes, and hotels.
- By distribution channel, the business to consumer segment holds a prominent market value share as a result of higher retail sales of sweet potato chips and fries.
- Owing to the greater consumption of organic food products, organic sweet potato fries are expected to exhibit substantial growth during the forecast period.
“Manufactures in the sweet potato fries market could make huge profits by increasing the production of healthy snacks, catering to the growing number of health conscious consumers across the world. Moreover, increasing consumption of baked sweet potato snacks is another potential growth factor for the market. However, the growing impact of the COVID-19 disease on the food and beverages segment is expected to moderately impact the growth of the sweet potato fries market in the short term,” says a PMR analyst.
Sweet Potato Fries Market: Competitive Landscape
The sweet potato fries market is fragmented in nature. Key players operating in the landscape are adapting their market strategies to benefit the most from prevailing market trends. Leading manufacturers are adopting strategies such as business expansion and innovation, with a focus on strengthening their distribution networks. Additionally, manufacturers are aiming to cater to the rising number of health-conscious consumers to gain a competitive advantage in the market space.
Explore More Valuable Insights on Global Sweet Potato Fries Market
Persistence Market Research, in its new report, offers an unbiased analysis of the global sweet potato fries market, presenting historical data (2015-2019) and estimation statistics for the forecast period of 2020-2030. The study offers compelling insights on the sweet potato fries market based product (fries, cubes/puffs, chips/crisps, and others), nature (organic and conventional), end use (foodservice and household/retail), and distributional channel (business to business and business to consumer), across seven regions.
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Sweet Potato Fries Market
Global Market Study on Sweet Potato Fries: Increasing Demand for Nutrient-dense Snacks Boding Well for Market Growth
Global Market Study on Sweet Potato Fries: Increasing Demand for Nutrient-dense Snacks Boding Well for Market GrowthRequest TOC