Agave Nectar Market Scope
Agave nectar is a syrup which is fluid comes from blue agave plant. It is natural substitute to artificial sweeteners and refined sugars. It has less viscosity than sugar. Agave nectar is used in for production of bakery, confectionery products such as bread, bread roll, bun, cake, cookies and etc. varieties of Agave nectars includes light, amber, dark, and raw. Light agave nectar has neutral flavour and it is mostly used in deserts, sauces, and beverages. Amber agave nectar has caramel flavour and it is used for savoury dishes. Dark agave nectar used in poultry, meat, and seafood dishes. It is gluten and allergen free, and has a low Glycemic Index of 32. Further, it contains good quantity of Iron, Calcium, and Potassium & Magnesium. It can be used as a substitute for sugar, honey, simple syrup, and molasses as sweetener for variety of cocktails, coffee, and tea. Increased food and beverages industry, growing inclination towards natural food additives and raised awareness regarding health benefits associated with agave nectar are responsible for market growth. Geographically, North America is expected to grow with highest growth rate owing to the high availability of agave nectar in Mexican region.
According to AMA, the Global Agave Nectar market is expected to see growth rate of 6.6%There are various companies are operating in the market to provides agave nectar for food and beverages industry. Increased demand for sweetener in food products, beverages and other confectionery is impacting on the demand for agave nectar in positive manner. Hence to grab the opportunity associated with the market, many new market players are entering to the market. The market leaders are investing on organic and non-organic strategic growth initiatives to become dominant in this industry. Market leaders are emphasising on merger, expansion, acquisition and partnership, new product development to boost their brand presence among consumers. Research Analyst at AMA estimates that North America Vendors will contribute to the maximum growth of Global Agave Nectar market throughout the predicted period.
The IIDEA Company (Mexico), Global Goods Inc (United State), Malt Products Corporation (United State), Groovy Food Company Ltd, (United Kingdom), The Colibree Company, Inc (United State), Madhava Natural Sweeteners (India), Brown-Forman Tequila Mexico, S.A. De C.V. (Mexico.), Goindiaorganic (India) and Nectave(United State) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Pura Foods Ltd. (United Kingdom) and Vita Foods Products, Inc. (United State).
Segmentation Overview
The study have segmented the market of Global Agave Nectar market by Type (Raw, Light, Umber and Dark), by Application (Bakery, Beverages, Confectionery and Others) and Region with country level break-up.
On the basis of geography, the market of Agave Nectar has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Growing Inclination towards Use of Natural Sweeteners
Market Growth Drivers:
Raised Awareness Regarding Health Benefits Associated With Agave Nectar and More Prone Towards Use of Agave Nectar as It Has Low Glycemic Index
Challenges:
Presence of Substitutes like Honey, Margarita or Corn
Restraints:
Adverse Side Effects Associated With Excess Consumption
Opportunities:
Growing Bakery Industry and Increasing Demand for Natural Flavours, Sweeteners in Confectionery
Market Leaders and their Expansionary Development Strategies
In 2022, Nektar’s confirmed acquisition of PureTech presents a potential lifeline for the former Bristol-Myers Squibb (BMS) partner. This strategic move holds the promise of renewed opportunities and growth prospects for both companies in the healthcare sector.
In June 2023, British brand The Groovy Food Company has launched a duo of Hot Agave Nectars in two flavours, Hot and Chipotle, expanding its line of plant-based sauces. Both products are available in 250ml bottles (RRP £3.25) from Ocado
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Agave Nectar Manufacturers, Suppliers and Distributors, Government Regulatory and End-Use Industries
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.