Technavio analyzes that the Yams Market is expected to grow at a CAGR of 3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 29.9 million.There are various factors that contribute to the growth of the market. Yam, a rich source of essential nutrients, offers numerous health benefits. It is high in fiber, vitamin C, potassium, and vitamin B6, contributing to digestive health, immune system function, and energy production. Additionally, yams are low in fat and calories, making them an ideal food choice for weight management. Their high antioxidant content also helps protect against cellular damage and chronic diseases. Incorporating yams into your diet can significantly enhance your overall health and well-being.
In the global yams market, the non-organic sector experiences significant growth due to increasing consumer demand for affordable and easily accessible yam varieties. This segment relies on conventional farming practices utilizing synthetic fertilizers, pesticides, and herbicides to optimize yield, pest control, and crop resilience. The resulting yams are more widely distributed and less expensive than organic alternatives. This affordability, coupled with the ability to produce larger quantities through conventional farming methods, supports the expanding demand for yams in various forms, including fresh yams and processed products like dried yam flour, yam chips, and yam cakes. The non-organic yams' longer shelf life and monetary value appeal to consumers in regions such as Africa, the Caribbean, and parts of Asia, where yams are a dietary staple.
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Yams Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The yams market encompasses various yam-derived products, including flour, sticks, chips, and more, offering numerous health benefits. Yam flour, rich in nutrition, aids in cancer prevention, infection prevention, and immunity boosting. Yam sticks and chips make delicious snacks, promoting blood vessel health and providing a healthy calorie intake. Yam flour uses extend beyond baking, with recipes for infection prevention and nutrition enhancement. The industry's financial impact is significant, with market insights, forecasts, competition, and drivers shaping its growth. Yam production logistics ensure the availability of these products online and wholesale, with substitutes available for those with dietary restrictions.
In the agricultural products and services market, the pre-production phase encompasses crucial steps such as crop or species selection and land or pond preparation. This stage sets the foundation for successful farming, particularly in the horticulture sector focusing on yams. Millennials' growing preference for healthier food options and increased awareness of social impact have heightened the demand for yams. To meet this demand, operational maintenance and cost considerations, including inflation and raw material prices, must be closely monitored. Effective pre-production planning, including packaging solutions and sales forecasting, is essential to ensure a steady supply of high-quality yams while maintaining profitability.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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