MARKET OVERVIEW
Agave nectar which is also known as agave syrup is a sweetener that is commercial produced from various species of agave which includes Agave tequilana and Agave salmiana. Agave has been used as a substitute for sugar for several years and the syrup derived from it sweeter and smoother as compared to honey. The agave nectar has a low glycemic index which prevents problems such as metabolic syndrome and insulin resistance.
MARKET SCOPE
The “Global Agave Nectar Market Analysis to 2028” is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the agave nectar market with detailed market segmentation by category, type, distribution channel and geography. The report provides key statistics on the market status of the leading agave nectar market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on category, the global agave nectar market is segmented into category and application.
- Based on type, the global agave nectar market is segmented into light agave nectar and dark agave nectar.
- Based on distribution channel, the market is segmented into supermarket and hypermarket, convenience store, online retail, and others.
MARKET DYNAMICS
Drivers-
- The increased consumption of sugar results in obesity which has propelled the consumers to increase the demand for sugar substitutes such as agave nectar.
- The shift in the consumer’s preference towards a healthy lifestyle as well as an increase in consumer awareness about health-conscious products has led to an increase in demand for natural sweeteners such as agave nectar.
- The increase in awareness about the harmful effects of added flavor, colors, and preservative has led to an increase demand for transparency. Therefore, the producers focus specifically on the label claims and the agave nectar is being provided with these claims.
Restraints-
- The decreased availability of sugar substitutes and the increased development of artificial sweeteners have shifted the preferences of consumers towards artificial sweeteners which is restraining the market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The agave nectar market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the agave nectar market in these regions.
IMPACT OF COVID-19 ON AGAVE NECTAR MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries such as the food and beverages industry in various countries due to lockdowns, travel bans, and business shutdowns. The supply of agave nectar has been affected due to the disruption in the supply chain. Agave nectar is majorly consumed by the manufacturers to produce different food products. The limitations on shipping and trade along with the manufacturing unit coming to a halt has disrupted and has had a negative impact on the agave nectar market.
KEY MARKET PLAYERS
The report covers key developments in the agave nectar market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from agave nectar market are anticipated to lucrative growth opportunities in the future with the rising demand for agave nectar in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the agave nectar market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Ciranda, inc.
- Dipasa
- DOMINO FOODS INC.
- Health Garden USA
- MADHAVA LTD
- NOW Foods
- The Groovy Food Company
- The Hain Daniels Group Limited
- The iidea Company
- Wholesome Sweeteners Inc
The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.