Agave Nectar is a natural substitute to artificial sweeteners and refined sugars and is less viscous than sugar. Agave nectar is used majorly in preparation of the baked products such as bread, bread roll, bun, cake, cookies and etc. As the agave nectar is very light, it is also used as a topping on pancakes, fruit salads and ice creams. Also, agave nectar is used in lesser quantity to make beverages as it is 1:4 to 1:6 sweeter than refined sugar. Agave nectar is healthier than refined sugar. Agave nectar is used as a binding agent in breakfast cereals globally.
The Agave Nectar market is expected to grow at a CAGR of 6.3% to reach US$ 365,967.58 Mn in 2032.
Geographically, the market is divided into North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Where Europe is the most dominant in the market followed by Africa. Increasing baking industry and demand for convenient and on-go-option snack and baked food, has strengthened the growth of global agave nectar market and hence is projected to significantly expand the revenue contribution of the market over the forecast period.
The global agave nectar market trends 2018 is segmented on the basis of type, form, application, distribution channels and region. The agave nectar is segmented on the basis of types such as light, amber, raw and dark. Agave nectar with neutral flavor is used in bakery products, with light caramel flavor is used in preparing sauces and savory food products such as deserts etc. Dark agave nectar with high caramel flavor is used in poultry, meat products and seafood products. Raw agave nectar contains mild and neutral taste that is used as a sweetening substitute for raw food products.
Furthermore, agave nectar market is segmented on the basis of form such as powder and liquid. On the basis of distribution channels such as supermarkets, online stores and retails stores. The supermarket segment is increasing significantly as a result increasing demand for agave nectar by the consumers globally.
The agave nectar market is segmented on the basis application such as baked products which is further segmented into breads, cakes, pastries, and others. Agave nectar is also used in poultry and meat, savory food products, and others. Hence, the global agave nectar market is expected to significantly increase the revenue contribution over the forecast period.
A major driver is the increasing consumer awareness regarding health benefits from agave nectar as it is a substitute for honey and sugar. Also, number of supermarkets promoting agave nectar are also increasing. In addition, the agave nectar manufacturers are also providing various healthier product offerings. Hence, the global agave nectar market is expected to observe robust growth over the forecast period.
Leading players of the global avage nectar market include The IIDEA Company, Malt Products Corporation, Swanson Health Products Inc., Loving Earth Pty Ltd, Domino Foods Inc., Vita Foods Products, Inc., Nature’s Agave, Inc., NOW Health Group, Inc., Groovy Food Company Ltd, The Colibree Company, Inc., The American Beverage Marketers, Madhava Natural Sweeteners, Global Goods Inc., The Simple Syrup Co., SunOpta Inc. and Natura BioFoods.
Key Segmentation of the Global Agave Nectar Market 2018-2025
- Product outlook of the Global Agave Nectar Market 2018-2025
Functional Outlook of the Global Agave Nectar Market 2018-2025
- Flavor Enhancer
Application Outlook of the Global Agave Nectar Market 2018-2025
Distribution Channel of the Global Agave Nectar Market 2018-2025
- Store-based retailing
- Online Retailers
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, and others)
- Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Benelux, Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)