CAGR of 5.7% Predicted for Agave Nectar Market, Reaching $300.06 Million by 2032

Agave Nectar Market Size Worth $300.06 Million By 2032 | CAGR: 5.7%


The global agave nectar market size is expected to reach USD 300.06 million by 2032, according to a new study by Polaris Market Research. The report “Agave Nectar Market Share, Size, Trends, Industry Analysis Report, By Type (Light, Amber, Raw, Dark); By Form; By Application; By Distribution Channel; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

One of the popular products of the agave plant is agave syrup, which is a naturally occurring vegan sweetener. It comes from the sap of the agave plant and has a slightly thinner consistency than honey. It usually has a brown appearance. It is widely used in the food and beverage industry, pharma, nutraceuticals, and food supplements. As it is 30% sweeter than refined sugars, less quantity is required for the production process, reducing the cost associated with additional sweeteners.

Growing innovations in the global market are creating new growth potential for agave nectar. The Groovy Food Company added spicy agave nectar to its product portfolio in 2023. This is made to be used as a topping for pizzas, tray bakes, and salads. As the manufacturers further create product innovations in various applications of agave nectar, they fuel the market's expansion during the study period.

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Agave nectar is known for its ability to enhance the taste, texture, and color of products. Its high solubility property is driving its adoption rate in households, restaurants, bakeries, and more. The USDA Food Database estimates that one tablespoon of agave has 64 calories, 16 grams of carbohydrates, and 14 grams of sugar. Fructose and glucose make up around 80% and 20%, respectively, of the sugars in agave. Agave nectar is a good alternative to sugar as it absorbs glucose, which assists in the prevention of diabetes. In fact, it aids in lowering the amount of glucose and sucrose, which is a major concern among consumers. As consumers realize the importance of agave nectar over other sugar alternatives, it will fuel the demand for agave nectar in the future.

Agave Nectar Market Report Highlights

  • The light segment is anticipated to witness faster growth in the coming years due to its low glycemic value.
  • Liquid segment accounted for the largest market share owing to its ease of use and higher level of solubility.
  • The bread segment is projected to experience a larger revenue share due to rising consumer awareness about sugar intake.
  • The online segment is expected to witness higher growth in the market owing to the availability of products to a wider audience.
  • APAC will grow at a rapid pace, owing to the rising demand for sugar substitutes and natural sugars in this region.
  • The global players include Loving Earth, Malt Products, Tierra, Sisana Sweeteners, Nature's Agave, Ciranda, Florida Crystals, Domino Foods & The Groovy Food Company.

Polaris Market Research has segmented the agave nectar market report based on type, form, application, distribution channel and region:

Agave Nectar, Type Outlook (Revenue - USD Million, 2019 - 2032)

  • Light
  • Amber
  • Raw
  • Dark

Agave Nectar, Form Outlook (Revenue - USD Million, 2019 - 2032)

  • Powder
  • Liquid

Agave Nectar, Application Outlook (Revenue - USD Million, 2019 - 2032)

  • Bread
  • Cakes
  • Pastries

Agave Nectar, Distribution Channel Outlook (Revenue - USD Million, 2019 - 2032)

  • Super Markets
  • Online Stores
  • Retail Stores

Agave Nectar, Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

Agave Nectar Market Report Scope

Report Attributes

Details

Market size value in 2023

USD 181.88 billion

Revenue forecast in 2032

USD 300.06 billion

CAGR

5.7% from 2023 - 2032

Base year

2022

Historical data

2019 - 2021

Forecast period

2023 - 2032

Quantitative units

Revenue in USD billion and CAGR from 2023 to 2032

Segments covered

By Type, By Form, By Application, By Distribution Channel, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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