The global sweet potato fly market is expected to be valued at US$ 51.56 Billion by 2022, projected to expand at a value CAGR of 3.8% until 2032. By the end of this decade, the market is projected to reach US$ 74.86 Billion. From 2021-2022, the industry experienced a Y-o-Y expansion of 2.5%.
Sweet potato fly, also known as sweet potato kvass, is a beverage made from sweet potato fermentation. Kvass is a non-alcoholic Russian beverage, and the Sweet Potato Fly is indigenous to Guyana (South America). Sweet potatoes have a high nutritional value since they include antioxidants and fibres, both of which are necessary for intestinal health and proper bodily functioning.
The sweet potato fly has a combination of water and sugar, which helps to maintain the body’s energy levels. Sweet potato protects against a wide range of health issues and diseases, including cancer, cardiovascular disease, obesity, and diabetes, and it also improves vision.
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Which are Some Prominent Drivers Spearheading Sweet Potato fly Market Growth?
As customers shift to more plant-based diets, rising health-consciousness is fuelling demand for sweet potato flies. Obesity is a major public health concern that affects individuals worldwide. Obesity is caused by a number of causes, including a hurried lifestyle, irregular eating habits, insufficient sleep, and others, all of which lead to inappropriate metabolism and worsening weight management problems. In 2016, around 13% of the global adult population was obese, according to the World Health Organisation.
Consumer’s perception about health is changing on a daily basis as health awareness grows. People generally prefer products that are healthy, inexpensive, and easily stored. Sweet potato fly satisfies all of these consumer requirements because it is a beverage with a negligible alcohol content that can be easily stored at room temperature for 5-6 days and in the refrigerator for a longer period of time.
Sweet potato fly is a nutritious beverage that is high in vitamins and minerals. Because of its health benefits, sweet potato fly is becoming more popular. This market is also expected to expand as the beverage industry expands. Obesity raises the risk of diseases such as diabetes and cardiovascular disease. As a result, there is an increasing demand for food and beverage products with health benefits, which is fueling the growth of the sweet potato fly market.
Why is Asia-Pacific Emerging as an Opportunistic Sweet Potato fly Market?
Because China accounts for roughly 80% of global sweet potato production, manufacturers of sweet potato fly are establishing production in the region due to the easy availability of cheaper raw materials
The demand for sweet potato fly is expected to rise in both developing and developed economies as people become more concerned about their health and fitness. China and India have the highest youth population (36%), resulting in the greatest number of consumers, resulting in a strong market opportunity for sweet potato fly over the forecast period.
How is North America Contributing to the Growth of the Sweet Potato fly Market?
Obesity is a major global issue. The United States has the most obese people, which include children, adults, and the elderly. Demand for this soft drink is expected to rise in North America as a result of weight-management issues. Furthermore, Kvass is in high demand due to the growing market for fermented beverages.
In addition, demand will rise in the coming years. As a result, many companies are launching new products across the regions to meet the demand for sweet potato products. Sweet potato applications are expanding across industries, propelling the North American sweet potato market. Furthermore, the various nutritional benefits of sweet potatoes will drive the growth of the North American sweet potato market.
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Market Competition
Key players in Global Sweet Potato Fly Market include, AV Thomas Produce, Dole Food Company Inc., Ham Farms and Jackson Farming Company.
Key Segments Covered in the Sweet Potato Fly Market Report
Nature:
- Organic Sweet Potato Fly
- Conventional Sweet Potato Fly
Flavor:
- Lime Flavored Sweet Potato Fly
- Ginger Flavored Sweet Potato Fly
- Mint Flavored Sweet Potato Fly
- Nutmeg Flavored Sweet Potato Fly
- Cinnamon Flavored Sweet Potato Fly
- Strawberry Flavored Sweet Potato Fly
- Raisin Flavored Sweet Potato Fly
- Other Flavored Sweet Potato Fly
Sales Channel:
- Store-based Sweet Potato Fly Retailing
- Hypermarkets/Supermarkets
- Convenience Stores
- Groceries
- Specialty Stores
- Online Sweet Potato Fly Retailing
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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