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The sweet potato flour industry observed a healthy growth in the historical period and is expected to continue the trend over the forecast period. This can be attributed to the rising use of the product in bakeries for the production of cakes, cookies, and muffins. Sweet potato flour finds a majority of its usage in the foods and beverages segment as it is extensively used in the segment as a thickening agent, taste enhancer, and nutritional supplement.
Regionally, the Asia Pacific and Europe are some of the significant markets for sweet potato flour. China, owing to its huge population, accounts for a major consumption of sweet potato flour within the Asia Pacific. The market is also expected to witness a significant growth in the Middle East and Africa region, especially in the Sub-Saharan region. Sub-Sahara Africa spends about USD 4.1 billion on wheat flour. The sweet potato flour manufacturers are keen on capturing this opportunity by substituting wheat flour with the more nutritious sweet potato flour.
Azuri Health Ltd, one of the key players in the industry, has started employing solar dryers for better returns on sweet potato flour. Also, the rising demand for products with sweet potato flour due to emerging health consciousness among consumers is aiding the market growth. Walmart (NYSE: WMT), a major retail company, which offers an extensive range of products, along with occasional discounts and schemes, is further propelling the market growth as it stocks a wide range of gluten-free and value-added alternative to wheat flour, including sweet potato flour.
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The major players in the global sweet potato flour market are Glean, LLC, Saipro Biotech Private Limited, Azuri Health Ltd, and Sacoma Sweet Potatoes, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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