Global Yam Market: Continued Growth Expected with +4.0% CAGR from 2024 to 2030

IndexBox has just published a new report: World - Yams - Market Analysis, Forecast, Size, Trends and Insights.

The yam market is expected to continue its upward consumption trend, reaching 113M tons in volume and $81.5B in value by the end of 2030. This growth is driven by a rising global demand for yams, with market performance projected to expand steadily over the forecast period.

Market Forecast

Driven by increasing demand for yams worldwide, the market is expected to continue an upward consumption trend over the next six years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +4.0% for the period from 2024 to 2030, which is projected to bring the market volume to 113M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.7% for the period from 2024 to 2030, which is projected to bring the market value to $81.5B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Yams

After four years of growth, consumption of yams decreased by -0.3% to 89M tons in 2024. The total consumption volume increased at an average annual rate of +4.2% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption attained the maximum volume at 89M tons in 2023, and then declined slightly in the following year.

The global yams market value stood at $58.5B in 2024, approximately equating 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 +2.1% over the period from 2013 to 2024; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Global consumption peaked at $60.6B in 2020; however, from 2021 to 2024, consumption failed to regain momentum.

Consumption By Country

Nigeria (62M tons) remains the largest yams consuming country worldwide, accounting for 69% of total volume. Moreover, yams consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Ghana (11M tons), sixfold. Cote d'Ivoire (7.9M tons) ranked third in terms of total consumption with an 8.8% share.

In Nigeria, yams consumption expanded at an average annual rate of +5.1% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of consumption growth: Ghana (+3.7% per year) and Cote d'Ivoire (+2.9% per year).

In value terms, Nigeria ($29.7B), Cote d'Ivoire ($15.6B) and Ghana ($5.1B) constituted the countries with the highest levels of market value in 2024, with a combined 86% share of the global market.

Among the main consuming countries, Cote d'Ivoire, with a CAGR of +4.6%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of yams per capita consumption in 2024 were Ghana (313 kg per person), Nigeria (271 kg per person) and Cote d'Ivoire (270 kg per person).

From 2013 to 2024, the biggest increases were recorded for Nigeria (with a CAGR of +2.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Yams

In 2024, production of yams decreased by -0.4% to 89M tons for the first time since 2019, thus ending a four-year rising trend. The total output volume increased at an average annual rate of +4.2% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 15%. Global production peaked at 89M tons in 2023, and then fell slightly in the following year. The general positive trend in terms output was largely conditioned by tangible growth of the harvested area and a relatively flat trend pattern in yield figures.

In value terms, yams production amounted to $55.4B in 2024 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2013 to 2024; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 12% against the previous year. Over the period under review, global production hit record highs at $60.1B in 2020; however, from 2021 to 2024, production remained at a lower figure.

Production By Country

The country with the largest volume of yams production was Nigeria (62M tons), accounting for 69% of total volume. Moreover, yams production in Nigeria exceeded the figures recorded by the second-largest producer, Ghana (11M tons), sixfold. Cote d'Ivoire (7.9M tons) ranked third in terms of total production with an 8.8% share.

In Nigeria, yams production expanded at an average annual rate of +5.1% over the period from 2013-2024. In the other countries, the average annual rates were as follows: Ghana (+3.8% per year) and Cote d'Ivoire (+2.9% per year).

Yield

In 2024, the global average yield of yams reached 8.5 tons per ha, almost unchanged from the previous year. Overall, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the yield increased by 9.9% against the previous year. The global yield peaked at 9.8 tons per ha in 2018; however, from 2019 to 2024, the yield remained at a lower figure.

Harvested Area

The global yams harvested area fell slightly to 11M ha in 2024, approximately reflecting the previous year. The harvested area increased at an average annual rate of +3.4% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 18%. Over the period under review, the harvested area dedicated to yams production attained the peak figure at 11M ha in 2023, and then fell slightly in the following year.

Imports

World Imports of Yams

In 2024, approx. 159K tons of yams were imported worldwide; growing by 3.2% compared with the year before. Overall, total imports indicated a prominent increase from 2013 to 2024: its volume increased at an average annual rate of +5.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports increased by +71.5% against 2013 indices. The growth pace was the most rapid in 2020 when imports increased by 22% against the previous year. Global imports peaked in 2024 and are likely to see steady growth in the immediate term.

In value terms, yams imports expanded slightly to $240M in 2024. Over the period under review, total imports indicated a strong increase from 2013 to 2024: its value increased at an average annual rate of +5.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports increased by +70.7% against 2013 indices. The most prominent rate of growth was recorded in 2023 when imports increased by 15% against the previous year. Over the period under review, global imports attained the maximum in 2024 and are expected to retain growth in years to come.

Imports By Country

The United States was the largest importer of yams in the world, with the volume of imports amounting to 61K tons, which was near 38% of total imports in 2024. The UK (19K tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Canada (11%) and the United Arab Emirates (4.5%). France (7.2K tons), the Netherlands (6.8K tons), Belgium (5.6K tons), South Africa (5.1K tons), Malaysia (4.8K tons) and Taiwan (Chinese) (4.4K tons) held a little share of total imports.

Imports into the United States increased at an average annual rate of +4.7% from 2013 to 2024. At the same time, Belgium (+33.1%), South Africa (+31.6%), Malaysia (+9.9%), the United Arab Emirates (+6.5%), the Netherlands (+5.9%), the UK (+4.4%), France (+2.3%) and Taiwan (Chinese) (+1.8%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing importer imported in the world, with a CAGR of +33.1% from 2013-2024. Canada experienced a relatively flat trend pattern. From 2013 to 2024, the share of Belgium and South Africa increased by +3.3 and +2.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($106M) constitutes the largest market for imported yams worldwide, comprising 44% of global imports. The second position in the ranking was held by Canada ($33M), with a 14% share of global imports. It was followed by the UK, with an 8% share.

In the United States, yams imports expanded at an average annual rate of +4.9% over the period from 2013-2024. The remaining importing countries recorded the following average annual rates of imports growth: Canada (+5.1% per year) and the UK (+3.5% per year).

Import Prices By Country

In 2024, the average yams import price amounted to $1,506 per ton, remaining constant against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2023 an increase of 13% against the previous year. Over the period under review, average import prices reached the maximum at $1,513 per ton in 2013; however, from 2014 to 2024, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was Taiwan (Chinese) ($3,060 per ton), while South Africa ($409 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by South Africa (+8.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Yams

In 2024, approx. 140K tons of yams were exported worldwide; therefore, remained relatively stable against 2023 figures. The total export volume increased at an average annual rate of +4.5% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. Over the period under review, the global exports hit record highs at 141K tons in 2023, and then dropped modestly in the following year.

In value terms, yams exports declined modestly to $195M in 2024. The total export value increased at an average annual rate of +2.9% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2023 when exports increased by 21%. As a result, the exports reached the peak of $204M, and then fell in the following year.

Exports By Country

Ghana was the major exporter of yams in the world, with the volume of exports recording 37K tons, which was approx. 26% of total exports in 2024. Jamaica (15K tons) ranks second in terms of the total exports with an 11% share, followed by China (9.2%), the United States (9%), Costa Rica (6.9%), Colombia (6.6%), Brazil (5.6%) and Japan (5.3%). The following exporters - India (6.3K tons) and Belgium (5.5K tons) - each finished at an 8.4% share of total exports.

From 2013 to 2024, average annual rates of growth with regard to yams exports from Ghana stood at +5.4%. At the same time, Belgium (+78.6%), Brazil (+47.9%), Colombia (+30.3%), Jamaica (+5.0%), India (+5.0%), China (+4.4%) and Japan (+2.3%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the world, with a CAGR of +78.6% from 2013-2024. The United States experienced a relatively flat trend pattern. By contrast, Costa Rica (-6.2%) illustrated a downward trend over the same period. From 2013 to 2024, the share of Colombia, Brazil, Belgium and Ghana increased by +6, +5.4, +3.9 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest yams supplying countries worldwide were Jamaica ($46M), China ($28M) and Japan ($22M), together comprising 49% of global exports. The United States, Costa Rica, Colombia, Brazil, Ghana, Belgium and India lagged somewhat behind, together accounting for a further 39%.

Belgium, with a CAGR of +70.9%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2024, the average yams export price amounted to $1,395 per ton, reducing by -3.6% against the previous year. Overall, the export price continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2020 when the average export price increased by 20%. The global export price peaked at $1,656 per ton in 2013; however, from 2014 to 2024, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Jamaica ($3,021 per ton), while Ghana ($223 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United States (+3.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform