Root and Tuber Market

The article provides an in-depth analysis of the global roots and tubers market, forecasting an upward consumption trend over the next eight years. Market performance is anticipated to accelerate, with a projected increase in market volume to 909M tons and market value to $599B by the end of 2030. Key insights include consumption and production trends, major consuming countries like China, Nigeria, and India, top products such as potatoes and cassava, import/export statistics, and average prices. The article offers a comprehensive overview of the roots and tubers market dynamics and growth opportunities.

Market Forecast

Driven by increasing demand for roots and tubers worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.8% for the period from 2022 to 2030, which is projected to bring the market volume to 909M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of -0.7% for the period from 2022 to 2030, which is projected to bring the market value to $599B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Roots and Tubers

After two years of growth, consumption of roots and tubers decreased by -0.8% to 787M tons in 2022. In general, consumption, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the consumption volume increased by 2.2%. Over the period under review, global consumption reached the peak volume at 793M tons in 2021, and then shrank modestly in the following year.

The global root and tuber market value reduced slightly to $632.9B in 2022, dropping by -2.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $664.6B in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Consumption By Country

China (153M tons) constituted the country with the largest volume of root and tuber consumption, comprising approx. 19% of total volume. Moreover, root and tuber consumption in China exceeded the figures recorded by the second-largest consumer, Nigeria (66M tons), twofold. The third position in this ranking was taken by India (59M tons), with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. The remaining consuming countries recorded the following average annual rates of consumption growth: Nigeria (+1.8% per year) and India (+1.4% per year).

In value terms, China ($96.5B) led the market, alone. The second position in the ranking was held by Nigeria ($36.9B). It was followed by Democratic Republic of the Congo.

In China, the root and tuber market expanded at an average annual rate of +3.3% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Nigeria (+0.7% per year) and Democratic Republic of the Congo (+1.8% per year).

The countries with the highest levels of root and tuber per capita consumption in 2022 were Malawi (718 kg per person), Ghana (691 kg per person) and Ukraine (484 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Ghana (with a CAGR of +1.9%), while consumption for the other global leaders experienced more modest paces of growth.

Consumption By Type

The products with the highest volumes of consumption in 2022 were potatoes (370M tons), cassava (333M tons) and sweet potatoes (87M tons), with a combined 99% share of global consumption. These products were followed by roots and tubers, nes, which accounted for a further 1.1%.

From 2012 to 2022, the biggest increases were recorded for roots and tubers, nes (with a CAGR of +3.2%), while consumption for the other products experienced more modest paces of growth.

In value terms, cassava ($217.7B), potatoes ($152.7B) and sweet potatoes ($63B) appeared to be the products with the highest levels of market value in 2022, together accounting for 95% of the global market. These products were followed by roots and tubers, nes, which accounted for a further 4.7%.

Roots and tubers, nes, with a CAGR of +7.0%, recorded the highest growth rate of market size among the main consumed products over the period under review, while market for the other products experienced more modest paces of growth.

Production

World Production of Roots and Tubers

After two years of growth, production of roots and tubers decreased by -1% to 781M tons in 2022. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 2.1%. Over the period under review, global production hit record highs at 789M tons in 2021, and then contracted in the following year. The general positive trend in terms output was largely conditioned by a relatively flat trend pattern of the harvested area and a relatively flat trend pattern in yield figures.

In value terms, root and tuber production fell to $411.6B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2014 when the production volume increased by 16% against the previous year. Over the period under review, global production attained the peak level at $477.2B in 2018; however, from 2019 to 2022, production failed to regain momentum.

Production By Country

China (147M tons) constituted the country with the largest volume of root and tuber production, comprising approx. 19% of total volume. Moreover, root and tuber production in China exceeded the figures recorded by the second-largest producer, Nigeria (66M tons), twofold. The third position in this ranking was held by India (59M tons), with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest. In the other countries, the average annual rates were as follows: Nigeria (+1.8% per year) and India (+1.4% per year).

Production By Type

The products with the highest volumes of production in 2022 were potatoes (369M tons), cassava (330M tons) and sweet potatoes (87M tons), with a combined 99% share of global production. Roots and tubers, nes lagged somewhat behind, accounting for a further 1.1%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key produced products, was attained by roots and tubers, nes (with a CAGR of +3.3%), while production for the other products experienced more modest paces of growth.

In value terms, the largest types of roots and tubers in terms of market size were cassava ($217.5B), potatoes ($148.6B) and sweet potatoes ($63.2B), with a combined 95% share of global production. Roots and tubers, nes lagged somewhat behind, comprising a further 5.3%.

Roots and tubers, nes, with a CAGR of +12.0%, saw the highest growth rate of market size in terms of the main produced products over the period under review, while production for the other products experienced more modest paces of growth.

Yield

In 2022, the global average root and tuber yield amounted to 14 tons per ha, growing by 2.1% compared with the previous year. In general, the yield saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 5.3% against the previous year. As a result, the yield reached the peak level of 15 tons per ha. From 2021 to 2022, the growth of the average root and tuber yield remained at a somewhat lower figure.

Harvested Area

In 2022, the global harvested area of roots and tubers contracted modestly to 54M ha, dropping by -3.1% against the previous year's figure. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 6.5% against the previous year. As a result, the harvested area attained the peak level of 56M ha, and then declined slightly in the following year.

Imports

World Imports of Roots and Tubers

In 2022, supplies from abroad of roots and tubers increased by 18% to 31M tons, rising for the third year in a row after two years of decline. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, root and tuber imports skyrocketed to $11B in 2022. The total import value increased at an average annual rate of +5.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 24% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports By Country

In 2022, China (7.1M tons), distantly followed by Thailand (4.4M tons), Belgium (3.5M tons) and the Netherlands (1.9M tons) represented the largest importers of roots and tubers, together making up 55% of total imports. Spain (1,099K tons), Vietnam (1,096K tons), the United States (750K tons), Italy (669K tons), Germany (587K tons), Uzbekistan (555K tons), France (501K tons) and Portugal (470K tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +20.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest root and tuber importing markets worldwide were China ($2B), Vietnam ($1.2B) and Belgium ($814M), with a combined 37% share of global imports.

In terms of the main importing countries, Vietnam, with a CAGR of +21.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

Potatoes (16M tons) and cassava (12M tons) prevails in imports structure, together comprising 96% of total imports. The following types - sweet potatoes (845K tons) and roots and tubers, nes (449K tons) - together made up 4.4% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main imported products, was attained by sweet potatoes (with a CAGR of +12.4%), while imports for the other products experienced more modest paces of growth.

In value terms, potatoes ($5.4B), cassava ($3.1B) and sweet potatoes ($741M) appeared to be the products with the highest levels of imports in 2022, with a combined 94% share of global imports.

Sweet potatoes, with a CAGR of +13.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main imported products over the period under review, while purchases for the other products experienced more modest paces of growth.

Import Prices By Type

The average root and tuber import price stood at $358 per ton in 2022, increasing by 3.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2013 an increase of 15% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was roots and tubers, nes ($1,222 per ton), while the price for cassava ($258 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by potato (+0.9%), while the other products experienced more modest paces of growth.

Import Prices By Country

The average root and tuber import price stood at $358 per ton in 2022, rising by 3.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2013 when the average import price increased by 15%. Global import price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($1,116 per ton), while Uzbekistan ($146 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Roots and Tubers

In 2022, approx. 24M tons of roots and tubers were exported worldwide; surging by 13% compared with 2021. The total export volume increased at an average annual rate of +3.4% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 19% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, root and tuber exports surged to $8.9B in 2022. The total export value increased at an average annual rate of +4.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when exports increased by 24% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

Exports By Country

In 2022, Thailand (6M tons), distantly followed by France (3M tons), the Netherlands (2.7M tons), Germany (2.2M tons) and Belgium (1.1M tons) were the major exporters of roots and tubers, together mixing up 61% of total exports. Pakistan (926K tons), the United States (825K tons), Vietnam (802K tons), Egypt (794K tons), Canada (692K tons), China (586K tons), India (456K tons) and Spain (430K tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to root and tuber exports from Thailand stood at +2.5%. At the same time, India (+14.7%), Pakistan (+11.9%), Egypt (+10.9%), Canada (+5.5%), Spain (+4.5%), France (+4.2%), the Netherlands (+3.8%), the United States (+3.7%), Belgium (+1.9%) and China (+1.7%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +14.7% from 2012-2022. Germany and Vietnam experienced a relatively flat trend pattern. While the share of Pakistan (+2.1 p.p.) and Egypt (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Thailand (-2.3 p.p.) and Germany (-2.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($1.5B), the Netherlands ($1.2B) and France ($871M) constituted the countries with the highest levels of exports in 2022, together comprising 41% of global exports. The United States, Germany, Canada, China, Egypt, Vietnam, Belgium, Pakistan, Spain and India lagged somewhat behind, together accounting for a further 37%.

In terms of the main exporting countries, India, with a CAGR of +17.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Potatoes represented the key type of roots and tubers in the world, with the volume of exports resulting at 15M tons, which was near 59% of total exports in 2022. It was distantly followed by cassava (9.5M tons), making up a 37% share of total exports. Sweet potatoes (790K tons) and roots and tubers, nes (477K tons) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exported products, was attained by sweet potatoes (with a CAGR of +11.4%), while the other products experienced more modest paces of growth.

In value terms, potatoes ($5.2B), cassava ($3.6B) and sweet potatoes ($689M) constituted the products with the highest levels of exports in 2022, together accounting for 94% of global exports.

Sweet potatoes, with a CAGR of +12.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exported products over the period under review, while shipments for the other products experienced more modest paces of growth.

Export Prices By Type

In 2022, the average root and tuber export price amounted to $362 per ton, growing by 1.9% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 16%. The global export price peaked at $389 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by the product type; the product with the highest price was roots and tubers, nes ($1,313 per ton), while the average price for exports of potatoes ($341 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by cassava (+3.6%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2022, the average root and tuber export price amounted to $362 per ton, picking up by 1.9% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 16% against the previous year. The global export price peaked at $389 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($735 per ton), while Germany ($219 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+5.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform