Agave Nectar Market Research, Share, Trend, Price, Future Analysis, Regional Outlook to 2030

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.

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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.

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Agave Nectar: Market Frontrunners

In terms of product, light agave is expected to lead the market in 2020 accounting with approximately 58.4% share. Furthermore, the segment dark agave accounts for ~41.6% of the market in terms of value.

The blue agave segment is leading the global market in terms of by source followed by salamiana agave and others (Agave American). These segments accounted for 59.0%, 31.8% and 9.3% of the market, respectively, on the basis of value in 2020.

North America leads the global market followed by Europe, Asia Pacific excluding Japan, and Oceania. Based on nature, the conventional segment accounts for approximately 87.7% of the market, while the organic segment accounts for the remaining share in the market.

Agave Nectar Market: Overview

The global agave nectar market's estimated value stood at ~ US$ 156 Mn in 2020, finds Transparency Market Research (TMR) in a recent study. According to the report, the market anticipated to reach ~US$ 272 Mn by 2030, at a CAGR of ~5.7%.

Factors impacting the purchase decision of consumers are agave nectar is a unique sugar substitute in terms of sweetness and it is less likely to cause heart diseases and diabetes. In addition to this, emergence of clean label products and increasing product innovation are creating favorable condition for growth.

The gradually increasing disposable income of consumers is in turn tending to consumption of organic products and alternative sugar products such as agave nectar or agave syrup. In addition to this, the agave nectar market is gaining traction on account of frequent purchase of sugar substitute by health conscious consumers.

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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.

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