Agave Nectar Global Market Report 2023
Major players in the agave nectar market are Whole Earth Brands, Pura Foods Ltd., Malt Products Corporation, The Groovy Food Company, Sisana Sweetener, Domino Foods Inc., The IIDEA Company, Madhava Foods, The Agave Sweetener Company, Nekutli, The Tierra Group, and LOC Industries Inc.
New York, March 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Agave Nectar Global Market Report 2023" - https://www.reportlinker.com/p06284577/?utm_source=GNW
The global agave nectar market grew from $0.22 billion in 2022 to $0.25 billion in 2023 at a compound annual growth rate (CAGR) of 13.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The agave nectar market is expected to grow to $0.36 billion in 2027 at a CAGR of 9.5%.
The agave nectar market consists of sales of agave tequilana, agave salmiana.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Agave nectar is a sweetener used as a natural substitute for artificial sweeteners and refined sugars. It has a low glycemic index, which does not cause high blood glucose and helps prevent problems such as metabolic syndrome and insulin resistance.
Asia-Pacific was the largest region in the agave nectar market in 2022. The regions covered in the agave nectar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of agave nectar are light agave nectar and dark agave nectar.The lighter agave nectar grades are flavor neutral, complementing the natural flavors of coffee, tea, fruit drinks, bakery items, fresh fruits, fruit smoothies, salad dressings jams and jellies, ice cream, yogurts, and other prepared meals without changing their flavor.
The different functional types include emulsifier, sweeteners, flavor enhancers and are made available to customers through various distribution channels such as supermarkets, online stores, retail stores, others. It is used in bakeries, beverages, confectionery, and others.
Increasing awareness of fitness among people coupled with a surge in the number of health-conscious consumers is expected to drive the market for agave nectar during the forecast period.Consumers are moving towards maintaining good health through various diets including keto, vegan, and fitness training including gyms.
Agave nectar is a tasty natural sweetener that can be substituted for high-glycemic and refined sugars by dieters, diabetics, and health-conscious cooks in proportion.According to a new survey conducted in 2021 by biotechnology company Gelesis, 60% of Americans desire to feel healthier and 51% want to reduce weight by exercising and modifying their diets including attempting to eat more plant-based foods.
Therefore, the increasing awareness of fitness among people and the growing number of health-conscious consumers propels the growth of the agave nectar market.
The introduction of biodegradable agave-based straws is an emerging trend in the agave nectar market.Major companies operating in the agave nectar sector are focused on introducing biodegradable agave-based straws as an alternative to conventional plastic straws.
For instance, in October 2020, ziggi’s coffee, a US-based coffee shop chain, launched newly developed agave compostable straws.It has a robust texture similar to typical plastic straws.
These straws are 100% natural and won’t get soggy or break down as quickly as other paper straws as they are made from leftovers from tequila and nectar production.
In December 2020, Whole Earth Brands, a US-based company that focuses on consumer transition towards natural alternatives, plant-based, clean label, and non-sugar products acquired Wholesome Sweeteners, Inc. for $180 million-plus an earnout. This acquisition will help Whole Earth Brands to enhance its competitive position and expand consumers’ access to delicious foods. Wholesome Sweeteners, Inc. is a US-based manufacturer of organic sweeteners, including sugar, honey, agave, allulose, and other liquid products.
The countries covered in the agave nectar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The agave nectar market research report is one of a series of new reports that provides agave nectar market statistics, including agave nectar industry global market size, regional shares, competitors with a agave nectar market share, detailed agave nectar market segments, market trends and opportunities, and any further data you may need to thrive in the agave nectar industry. This agave nectar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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