QYResearch: In Sweet Potato consumption market, the growth rate of global consumption is smooth relatively
Sweet potato is a herbaceous perennial vine, bearing alternate heart-shaped or palmately lobed leaves and medium-sized sympetalous flowers. The edible tuberous root is long and tapered, with a smooth skin whose color ranges between yellow, orange, red, brown, purple, and beige. Its flesh ranges from beige through white, red, pink, violet, yellow, orange, and purple. Sweet potato varieties with white or pale yellow flesh are less sweet and moist than those with red, pink or orange flesh.
Globally, the Sweet Potato industry market is concentrated. At the same time, some countries such as China, Tanzania, and Nigeria etc. are remarkable in the global Sweet Potato industry because of their market share and climatic environment status of Sweet Potato. The production of Sweet Potato will increase to 105.47 Million MT in 2015. In consumption market, the growth rate of global consumption is smooth relatively.
According to QYResearch, Sweet potatoes are grown and consumed all over the world. The part of the production traded on the global market, is relatively small. A lot of countries mainly grow for the domestic market. China is the largest producer, but the consumption is low. The European market for sweet potatoes is still relatively small, but is growing fast. The US is the largest supplier of sweet potatoes for the European market. European traders prefer the large volumes and stability of the American suppliers. The main competitor in Europe is Spain, but according to an American trader the Spanish product can't compete with the American quality. Over the next few years South Africa is expected to take over a larger market share.
The consumption volume of Sweet Potato is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of Sweet Potato industry may not keep that fast. But it is surely forecasted that the market of Sweet Potato is still promising.
The product average price Increased in the past few years due to the market competition, and the average price will keep the trend in the few future years.
Although the market competition of Sweet Potato is fierce globally, there are many enterprises can obtain considerable profit form the manufacturing and marketing of Sweet Potato and that is the reason that we believe there will also be enterprises enter this market. But it is suggested that enterprises those have plans to enter this industry have careful analysis of this market and the advantages or disadvantages of themselves.
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