South Korea Sweet Potato Market was valued at USD 0.8 Billion in 2022 and is projected to reach USD 1.2 Billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030.
The South Korea sweet potato market is experiencing remarkable growth, driven by increasing consumer demand and the versatile applications of sweet potatoes in various industries. South Korea’s sweet potato market has expanded due to its popularity as a staple food, especially in the form of snacks, beverages, and side dishes. The crop's rising nutritional value awareness and the shifting consumer preferences toward healthier alternatives are key drivers of this market's expansion.
One of the key factors influencing the demand for sweet potatoes in South Korea is their increasing use in processed food products. Sweet potatoes are an essential ingredient in the production of items like chips, flour, and even beverages. The food and beverage industry, in particular, is a major consumer, with a significant rise in demand for sweet potato-based drinks, soups, and baked goods. Additionally, the growing interest in plant-based diets has also contributed to the popularity of sweet potatoes as a nutritious, low-calorie, and fiber-rich alternative to other carbohydrates.
Another sector significantly benefiting from the sweet potato market is the cosmetics and skincare industry. South Korea's beauty sector has embraced sweet potatoes for their antioxidant properties, which are believed to improve skin health. Companies are increasingly utilizing sweet potato extract in skincare formulations, adding to the diversification of the market's use.
The demand from these industries has created a need for high-quality and consistent sweet potato supplies. Farmers and suppliers must meet the growing requirements for both organic and conventional varieties, as consumer preferences lean toward sustainability and eco-friendly practices. Additionally, the processing industry requires sweet potatoes of specific sizes and textures, which poses challenges for producers to maintain consistency in supply and quality.
In response to these needs, South Korea’s sweet potato market continues to innovate, focusing on expanding its domestic production capacity and increasing its export potential. While the industry faces challenges like climate change and land availability, ongoing research into more efficient farming techniques and better varieties promises to support the market's growth for years to come.
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China Custom
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Tradingeconomics
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Sweet Potato Market
Orange-fleshed Sweet Potato
White-fleshed Sweet Potato
Purple-fleshed Sweet Potato
Food & Beverages
Animal Feed
Cosmetics & Personal Care
Fresh Sweet Potato
Processed Sweet Potato (Frozen, Canned, Dried)
Household
Foodservice (Restaurants, Cafes, etc.)
Industrial
Supermarkets/Hypermarkets
Online Retail
Convenience Stores
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Sweet Potato Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Sweet Potato Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Sweet Potato Market, By Type
6. South Korea Sweet Potato Market, By Application
7. South Korea Sweet Potato Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Sweet Potato Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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