- Growing popularity of agave nectar as natural sweetener is helping the market grow at a notable pace
- Prevalence of diabetes is growing and it is set to support growth in the global agave nectar market
- North America and Europe are set to retain their dominant position from 2020 to 2030
ALBANY, N.Y., Oct. 20, 2020 /PRNewswire/ -- Large number of factors is helping the global agave nectar market grow over the period of 2020 to 2030. Some of the factors are growing prevalence of diabetes and increasing popularity of agave as a natural sweetener. It is important to note here that players are opting for marketing strategies that are creative and leading to increased consumer awareness and in turn, these are paving way for growth in the market.
Transparency Market Research notes, "Over the forecast period, the market would reach a valuation of about USD 272 million by 2030 from about USD 156 million in 2020. The compound annual growth rate will be approximately 5.7%."
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Key Findings of Global Agave Nectar Market Study:
- Demand for natural substitute for sugar is growing, promising market growth over the forecast period
- Low calorie products are witnessing an upward demand carve, contributing notably to growth in agave nectar market
- Large share of global agave nectar market revenue will be held by North America
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Key Drivers of Growth in Global Agave Nectar Market:
- The bakery and confectionary, and food and beverage industries are witnessing an increase in application of agave nectar, driving demand in a big way
- As more and more people opt for natural products, demand for the agave nectar increases, helping the market chart growth
- Trend of increasing demand for clean label products is helping the market stay buoyant over the forecast period
- Prevalence of diabetes is growing and this is set to propel the growth curve upward and forward
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Regional Analysis of Global Agave Nectar Market:
- Largest share of the market was held by North American region in the year 2019
- Over the forecast period of the report, the trend is set to stay strong
- Other lucrative regions will be Europe and Asia Pacific (APAC)
- Europe is anticipated to maintain its second largest position in the revenue share charts
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Competitive Landscape of Global Agave Nectar Market:
Known global agave nectar market players are The IIDEA Company, Malt Products Corporation, The Tierra Group, Sisana Sweeteners, Nature's Agave, Inc, Ciranda, Florida Crystals Corporation, Madhava Natural Sweeteners, Domino Foods, Inc., Groovy Food Company Ltd., The Colibree Company, Inc., The Simple Syrup Co., SunOpta, Inc., Natura BioFoods, NOW Foods, and Loving Earth Pty Ltd, among others.
Transparency Market Research has compiled its evaluation and findings of the competitive landscape of the market in its report. Details into recent developments, products, financials, and so on are all delineated in it. Another crucial aspect that the report delves into is the examination and enumeration of several growth strategies that players often deploy.
Innovation in product and launch of new variants hold key to future growth in the market and thus players are quite focused on research and development. A number of cup cake recipes were brought out by Bob's Red Mill Natural Foods Inc. and Pamela's Product Inc. to boost sales in 2016. Some players are eyeing the business-to-business segments for growth.
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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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