Agave nectar is a sweetener which is commercially produced from various agave species such as Agave tequilana (blue agave) and Agave salmiana. Agave nectar market is increasing significantly with CAGR of 5.5%. Agave nectar is primarily produced from blue agave which is mostly found in Southern Mexico. Agave Nectar is a natural substitute to artificial sweeteners and refined sugars which is less viscous than sugar. With its thin, light consistency, agave nectar is used as a topping for food products such as fruit salad, pancakes and ice-creams. Agave nectar is used as a sugar substitute in baked products such as bread, bread roll, bun, cake, and cookies. Agave Nectar is 1.4 to 1.6 times sweeter than sugar, which mean less quantity is required for preparing food and beverages. Agave nectar is healthier than refined sugar. Agave nectar is used as a binding agent in breakfast cereals globally.
Agave Nectar Market: Segmentation
The global agave nectar market 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. Light agave nectar has neutral flavor and mostly used in food products such as desserts, baked goods, and others. Amber agave nectar contains medium caramel flavor used for preparing sauces and savory food products. Dark agave nectar has high caramel flavor which is mostly used in food products such as poultry, meat products and other seafood products. Raw agave nectar contains mild and neutral taste that is used as a sweetening substitute for raw food products.
The global agave nectar market is also segmented on the basis of form such as powder and liquid. The global agave nectar is segmented on the basis of distribution channels such as supermarket, online stores, and retail stores. The supermarket segment is increasing significantly as a result increasing demand for agave nectar by the consumers globally.
The global agave nectar is segmented on the basis of applications such as baked products which is further sub segmented as bread, cakes, pastries, and others. Agave nectar is also used in poultry and meat products, savory food products, and others. Hence, the global agave nectar market is expected to significantly increase the revenue contribution over the forecast period.
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Agave Nectar Market: Regional Outlook
Geographically, the global agave nectar market can be divided by major regions which include North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Globally, among all regions, Europe has developed as the dominant region in global agave nectar market followed by Africa. Increasing baking industry and demand for convenient and on-go-option snack and baked foods, 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.
Agave Nectar Market: Growth Drivers
Agave nectar is a substitute for honey and sugar. Increasing consumer awareness regarding health benefits from agave nectar, which is another driving factor of the global agave nectar market. Rising number of supermarkets and retail stores are rapidly increasing the demand for agave nectar worldwide. Various agave nectar manufacturers are focusing on providing healthier product offerings. Hence, the global agave nectar market is expected to observe robust growth over the forecast period.
Agave Nectar Market: Key Players
Some of the key players identified across the value chain of the global agave nectar market includes Wholesome, Dipasa USA, The iidea Company, S.F.D (PTY) Ltd, MADHAVA NATURAL SWEETENERS, GLOBAL GOODS INC., Colibree Company, and the groovyfood company. The companies are focusing on framing certain strategies in future for gaining competitive advantage in the global agave nectar market till 2026.
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