Agave Nectar Market: Introduction
A recent study published by Transparency Market Research on the agave nectar market includes global industry analysis and opportunity assessment for 2020-2030. Revenue generated from the global agave nectar market has been estimated to be valued at ~US$ 156 Mn in 2020, which is projected to rise at a CAGR of ~5.7%, to reach US$ 272 Mn by 2030.
Low-glycemic Index in Agave Nectar – Less Likely to Cause Chronic Heart Disease and Diabetes
Increasing health problems are linked to poor dietary choices. Rising health problems among children and adults have made consumers to pay more attention toward food products/issues such as sugar and calories. Owing to the change in consumer preference seeking healthier and natural products, the demand for products such as organic or natural, and clean label is increasing at a higher pace in the global market which in turn the demand for agave nectar are increasing across the globe.
Rising Demand for Sugar Substitute to Boost Growth Prospects
The demand for sugar substitutes is rising at an impressive pace. Agave is an organic sweetener, which is being used for more than 14 years as a sugar substitute. A 100 g of agave can produce 20 times more sweetness when compared to sugar and honey. Agave nectar consists of two sources of vitamins, such as vitamin C and vitamin B, which lack in sugar. This is an important factor propelling the market demand for agave nectar.
Due to sweetening and flavoring properties of agave nectar, it is being widely used in the production of tequila. Thus, an increase in the consumption of tequila will eventually aid the expansion for the market for agave nectar. For instance, in 2016, the consumption of tequila in the U.S. was 9.1 Mn nine-liter cases. 62.4% of the whole population in the U.S. has started to use agave nectar as a substitute for sugar and honey, as it has low calorie.
Increasing Demand for Low-calorie Products will Bolster Sales Prospects
Globally, there is a rising demand for low-calorie products, which directly impact the well-being of consumers. They are aware of the health benefits gained by consuming low-calorie products. Sugar has always been a high-calorie sweetener that people consume on a daily basis. In order to replace it, low-calorie sweeteners were produced which created a potential market for agave nectar. In the year 2015, the U.S. Health Commission predicted a growth of 3.3% in the usage of alternative low-calorie sweeteners, and the market reached around US$ 1.4 Bn in 2017.
Global Agave Nectar Market Segmentation
Agave Nectar Market, by Product Type
- Dark Agave
- Light Agave
Agave Nectar Market, by Form
Agave Nectar Market, by Nature
Agave Nectar Market, by Price Range
- Economy (Less Than US$ 20)
- Mid-range (US$ 20-50)
- Premium (More Than US$ 50)
Agave Nectar Market, by Source
- Blue Agave
- Salamiana Agave
- Others (Agave Americana, etc. )
Agave Nectar Market, by Flavor
- Others (Maple, Coconut, Lemon, etc.)
Agave Nectar Market, by Distributional Channel
- Stored Based Retailing
- Convenience Stores
- Discount Stores
- Wholesale Stores
- Independent Small Groceries
- Other Retail Formats
- Online Retailing
Agave Nectar Market, by Region
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
- Asia Pacific Excl. Japan
- South Korea
- Rest of APEJ
- New Zealand
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