The demand for natural sweeteners has substantially increased in recent years, owing to rising prevalence of various diseases and allergies related to artificial sweeteners. Agave syrup is emerging as a healthy alternative for applications in the food processing industry.
Agave syrup is said to have a low glycemic index, which does not cause high blood glucose and helps prevent problems such as metabolic syndrome and insulin resistance. Increased awareness regarding these benefits of agave syrup for human health along with supporting wellness in diabetic patients is aiding the growth of the global agave syrup market.
- Agave syrup has sweetening properties with 56% fructose, and is also 1.5 times sweeter than sugar, which makes it a healthy substitute for sugar.
As such, the global agave syrup market is set to experience decent growth over the forecast period of 2020 to 2030.
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- The iidea Company
- The Agave Sweetener Company
- NOW Health Group, INC.
- Best Ground International
- NATURAL SUBSTITUTE DE MEXICO, S.A. DE C.V.
- Naturalever de México
- Malt Products Corporation
- Natura Bio Foods.
- MADHAVA LTD.
- Colibree Company
- DOMINO FOODS INC.
- Sisana Sweeteners
- Maretai Organics Australia.
- Hain Daniels Group
- Nature’s Agave
- The Simple Syrup Co
- The Groovy Food Company
- The Tierra Group
- Wholesome Sweeteners Inc.
- Dandy Lions Ltd
Agave Syrup Market Trends
Demand for Clean Label Products Offering Growth Opportunities: Increase in awareness regarding the harmful effects of added colors, flavors, and preservatives has led to consumers demanding transparency. Hence, there is a strong push from consumers demanding more information about the food that they consume. With the help of technology, consumers are tracing the journey of the food, from the source to consumption, to ensure safety. Customers today read the labels on packaging more than ever to check for the ingredients.
- MADHAVA LTD. provides agave syrup which is Clean Label Project verified and ensures that the syrup is free from hundreds of toxins and contaminants.
Demand for Natural Sweeteners Promoting Sales of Agave Syrup: The way consumers are perceiving natural food ingredients can be seen in their purchasing patterns, which are changing continuously with time. The adequacy of natural products and their health benefits is the most affecting factor for the expansion of the natural sweeteners market.
Customer preferences have been influenced by natural sweeteners - reason being - increasing population suffering from various diseases and being allergic toward synthetic sweeteners, which has a positive impact on the natural sweeteners market, such as agave syrup, thus, driving the growth of the agave syrup market.
- Colibree Company provides all-natural agave syrup that is ideal for natural food and beverage products, catering to rising customer demand for natural sweeteners.
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Regional Outlook of Global Agave Syrup Market
The global agave syrup market space is dominated by the established market of Europe, owing to the rising trend of adopting vegan diets in this region. Agave syrup is sourced from the blue agave plant, which primarily grows in Mexico. With key manufactures located in this region, Latin America accounts for around 19% value share.
South Asia and East Asia are witnessing fast growth and increasing their global agave syrup market share, owing to increasing adoption of natural products. Rising awareness about the health benefits of agave syrup, coupled with increasing application in the pharmaceutical and cosmetics industry, is boosting the growth of the agave syrup market in these regions.
Economies from South Asia and East Asia, such as China, India, South Korea, and others, are the next potential markets for manufacturers that are involved in constant research & development for innovating agave syrup with added flavors for increased application in the food & beverage industry.
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COVID-19 Impact on Agave Syrup Market
With the spread of COVID-19 bringing stringent lockdowns across many regions, industries have been severely hampered. Limitations on shipping and trade, disruption of supply chain, and manufacturing coming to a grinding halt, are factors that have adversely affected the food industry. Agave syrup is majorly used by manufacturers involved in producing different food products. Thus, the agave syrup market is expected to witness a moderate slowdown over the next two to three quarters.
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The global agave syrup market size is expected to witness substantial expansion over the coming years, with East Asia and South Asia anticipated to offer advantageous opportunities during the forecast period of 2020-2030. Increasing use of agave syrup as a key ingredient in the food processing industry, along with increased applications in different smoothies and juices, is a considerable factor for the growth of the global agave syrup market in the foreseeable future.
Leading market players such as Malt Products Corporation, DOMINO FOODS INC., Wholesome Sweeteners Inc., NOW Health Group, Inc., and others are focusing on innovation and strengthening their distribution channel for increasing their market share and position in the global agave syrup market. Increasing customer service and enhancement in quality are other strategies being adopted by key players to gain a competitive edge in the global agave syrup market.
Key Segments of Global Agave Syrup Market
PMR’s report on the global agave syrup market offers information divided into six segments – type, nature, application, function, distribution channel, and region.
Key Questions Answered in PMR’s Global Agave Syrup Market
- Which region will hold the highest market share in the global agave syrup market during the forecast period?
- Which region is experiencing the highest growth (CAGR)?
- Which factors are impacting the global agave syrup market?
- What are the global trends impacting the agave syrup market?
- What strategies must emerging players adopt to capture opportunities in various regions in the agave syrup market?
- What is the market structure of the global agave syrup market?