Selbyville, Delaware, June 18, 2024 (GLOBE NEWSWIRE) --
The agave nectar market valuation is predicted to exceed USD 243.9 million by 2032, as reported in a research study by Global Market Insights Inc.
The increasing consumer preference for natural and organic sweeteners is driving the market growth. Of late, health-conscious consumers are largely preferring agave nectar over traditional sugars and artificial sweeteners given its lower glycemic index and potential health benefits. The rising prevalence of diabetes and obesity is accelerating the shift towards healthier alternatives. As per data from the National Library of Medicine, nearly half of U.S. adults will be obese by 2030. The expanding vegan population is boosting the adoption of plant-based offerings.
The growing use in the food & beverage sector for the manufacturing of products like beverages, baked goods, and snacks is accelerating the product appeal. The increasing awareness of sustainable and eco-friendly agricultural practices is increasing their application scope, as agave cultivation is more environmentally sustainable compared to other sweetener crops.
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Agave nectar market from the baking application segment will grow at significant rate between 2024 and 2032, due to its natural sweetness and ability to retain moisture, agave nectar helps enhance the texture and shelf life of baked goods. Several health-conscious consumers are preferring the product given its lower glycemic index compared to traditional sugars. The increasing demand for organic and non-GMO ingredients, along with the rise of vegan and gluten-free baking trends are boosting the segment growth.
The amber type segment is projected to account for significant share of the agave nectar market by 2032, owing to its rich flavor, making it a preferred sweetener for beverages, sauces, and desserts. The increasing consumer demand for natural and organic products is driving the product popularity. The lower glycemic index of amber compared to sugar is attracting health-conscious consumers. The expanding vegan and gluten-free food markets is also driving the appeal of amber agave nectar as it is a suitable alternative for these diets.
Asia Pacific agave nectar market is projected to grow at significant rate between 2024 and 2032, owing to the increasing health awareness and the shift towards natural, low-glycemic sweeteners amid rising diabetes rates. The expanding vegan and gluten-free trends are spurring the demand for agave nectar in the region. The thriving food & beverage sector is accelerating the focus on adopting organic and natural products. The increasing disposable incomes are also enabling consumers to spend more on premium and health-focused products, further driving the regional market growth.
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Some of the leading firms operating in the agave nectar market include Wholesome Sweeteners, The Colibree Company Inc., The Simple Syrup Co., Natura Bio Foods, Dipasa USA, The idea Company, Global Organics, GLOBAL GOODS INC., NOW Foods, Malt Products Corporation, The Tierra Group, Sisana Sweeteners, Dandy Lions Ltd., Pura Foods Ltd., Naturalever de Mexico, and Domino Foods Inc.
These market leaders are adopting various corporate expansion strategies, such as mergers & acquisitions, collaborations, and establishing new manufacturing plants to increase their industry share. For instance, in January 2024, Diageo-owned Tequila brand Don Julio launched Alma Miel, crafted with oven-roasted agave nectar. This novelty aims to inspire Tequila enthusiasts exploring innovative flavors, while honoring the spirit of Mexico through the agave plant.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Data mining sources
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Global agave nectar market 3600 synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Type trends
2.5 Application trends
2.6 Distribution channel trends
Chapter 3 Global Agave Nectar Market Insights
3.1 Industry ecosystem analysis
3.1.1 Raw material suppliers
3.1.2 Manufacturers
3.1.3 Profit margin analysis
3.1.4 Distribution channel analysis
3.1.5 End-users
3.2 Vendor matrix
3.2.1 List of key raw material suppliers
3.2.2 List of key manufacturers/suppliers
3.3 Technology landscape
3.4 Regulatory landscape
3.4.1 North America
3.4.2 Europe
3.4.3 Asia Pacific
3.4.4 Latin America
3.4.5 Middle East & Africa
3.5 Impact forces
3.5.1 Growth drivers
3.5.2 Industry pitfalls & challenges
3.6 Pricing analysis
3.7 Regional pricing
3.7.1 North America
3.7.2 Europe
3.7.3 Asia Pacific
3.7.4 Latin America
3.7.5 Middle East & Africa
3.8 Cost structure analysis
3.8.1 R&D cost
3.8.2 Manufacturing & equipment cost
3.8.3 Raw material cost
3.8.4 Distribution cost
3.8.5 Operating cost
3.8.6 Miscellaneous cost
3.9 Innovation & sustainability
3.10 Growth potential analysis, 2023
3.11 Porter's analysis
3.12 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Agave nectar market
