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 has witnessed significant growth over the years, driven by both domestic consumption and industrial demand. South Korea, known for its love of sweet potatoes, has integrated this versatile crop into various sectors, ranging from food products to cosmetics and health supplements. The market for sweet potatoes is now expanding beyond the traditional culinary uses, adapting to the increasing need for innovative applications across different industries.
The food and beverage sector remains the largest consumer of sweet potatoes in South Korea. This market has evolved beyond simple roasting or boiling, with sweet potatoes being used in an array of processed products such as snacks, chips, pies, and beverages. The demand for healthy, natural ingredients has spurred the growth of sweet potato-based items, appealing to health-conscious consumers. With the growing awareness of the nutritional benefits of sweet potatoes, the food industry is continuously exploring new ways to incorporate them into diets, such as in soups, salads, and smoothies. The nutritional profile of sweet potatoes, including high fiber, antioxidants, and vitamins, positions them as a preferred option for health-focused consumers.
Another area of expansion is the cosmetics industry. Sweet potato extracts, known for their antioxidant and anti-aging properties, are increasingly being used in skincare products. With the rising demand for natural ingredients in beauty and skincare products, sweet potato-based creams, serums, and face masks are becoming popular in the South Korean market. This trend is not only confined to South Korea but is gaining international attention due to the increasing preference for organic beauty products.
Additionally, the sweet potato market in South Korea is being influenced by technological advancements in agriculture and processing techniques. Innovative farming methods, such as vertical farming and controlled-environment agriculture, are helping meet the rising demand for high-quality sweet potatoes. This also ensures a more sustainable supply chain, which is vital as the industry strives to keep up with the growing demand from multiple sectors.
As the South Korean sweet potato market continues to develop, industries are looking for high-quality raw materials that meet stringent standards. These industries require sweet potatoes that are grown with minimal pesticide use, ensuring both quality and sustainability. Furthermore, consistent supply and predictable yields are essential for manufacturers relying on sweet potatoes as an ingredient. This has led to increased collaboration between farmers and industry players, with a strong focus on maintaining the quality of sweet potatoes while meeting the ever-growing market demand.
The South Korean sweet potato market is expected to continue expanding as more sectors discover the benefits of this nutrient-packed vegetable. With diverse applications ranging from food production to beauty products, sweet potatoes are poised to remain a valuable crop in the country’s agricultural and industrial landscape.
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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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