According to Stratistics MRC, the Global Agave Nectar Market is accounted for $131.04 million in 2023 and is expected to reach $242.64 million by 2030 growing at a CAGR of 9.2% during the forecast period.
Agave nectar, often referred to as agave syrup, is a natural sweetener derived from the sap of the agave plant. Native to Mexico, the agave plant has been used for centuries by indigenous cultures for its various culinary and medicinal purposes. The nectar is produced by extracting and filtering the sap from the core of the agave plant, which is then heated to break down complex sugars into fructose and glucose. Agave nectar is prized for its sweet taste, which is milder than honey, and its low glycemic index, making it a popular alternative for those seeking healthier sweeteners. It is commonly used as a sweetening agent in beverages, baked goods, and as a topping for pancakes and waffles.
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The Asia-Pacific region has seen significant growth due to increased consumer awareness about the health benefits associated with natural sweeteners. Changing dietary preferences towards organic and plant-based products have further fueled market growth. As the region experiences economic development and urbanization, there’s a growing trend towards convenience foods and beverages, where agave nectar finds its application as a sweetening agent. Additionally, the expanding food and beverage industry in countries like China, India, and Japan has provided ample opportunities for market players to introduce agave-based products, thereby driving market expansion in the region.
Some of the key players in Agave Nectar market include ARIZONA Beverages USA LLC, Ciranda Inc., Dipasa USA, Domino Foods Inc., Global Goods INC. , Groovy Food Company, Madhava Natural Sweeteners, Malt Products Corporation , Naturalever de Mexico, NOW Foods, Sisana Sweeteners, The Groovy Food Company, The IIDEA Company, The Tierra Group, Wholesome Sweeteners and Wildly Organic.
Key Developments:
In December 2023, Domino Foods Inc introduced the newest products to their family of sweeteners: Domino Light and C&H Light. The new Light products are an all-natural blend of pure cane sugar and stevia, with half the calories of sugar. By blending pure cane sugar with naturally sweet stevia, and a natural flavor to enhance the taste, Domino Foods has created a delicious light sweetener with no artificial ingredients or sugar alcohols, like erythritol.
In December 2023, Malt Products Corp. plans to expand its Dayton warehouse facility by more than double, adding about 170,000 square feet to its existing 110,000-square-foot space at 4744 Wolf Creek Pike in Dayton.
What our report offers:
– Market share assessments for the regional and country-level segments
– Strategic recommendations for the new entrants
– Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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