Persistence Market Research (PMR) delivers key insights on the global agave syrup market in its upcoming outlook titled, “Agave Syrup Market: Global Industry Analysis and Forecast 2018-2026”. In terms of value, the global agave syrup market is projected to register a healthy CAGR of 6.7% during the forecast period due to various factors, regarding which PMR offers vital insights in detail.
The demand for sugar substitutes is always high considering the after effects of sugar. Agave is an organic sweetener which is being used for several years as a sugar substitute. 100 grams of agave can produce 20 times more sweetness when compared to sugar and honey. Agave syrup consists of two sources of vitamins, such as vitamin C and vitamin B, which lacks sugar content. Due to the sweetening and flavoring properties of agave syrup, it is being widely used in the production of tequila. Thus, an increase in the consumption of tequila will eventually contribute to the growth of the market for agave syrup.
Increasing health problems are linked to poor dietary choices. Rising health problems among children and adults have shifted the preference of consumers to pay more attention towards food products/issues such as sugar and calories. Owing to the change in consumer preference seeking healthier and natural products, the demand for products such as organic or natural, and clean label products is increasing at a rapid pace in markets in the U.S. and Western Europe, which can be a key factor driving the usage of agave syrup.
The demand for clean label food has been witnessing substantial growth, globally, in the past few years. Increasing consumer awareness regarding the health benefits of products containing natural ingredients and strong support from multinational ingredient manufacturing companies for the development of such products, especially those incorporating natural sweeteners such as agave syrup are key factors driving the demand for clean label ingredients, such as those produced without any use of additives, chemicals, and artificial ingredients, and minimally processed.
Agave syrup has a caramel flavor in it, which can be used in strong-flavored beverages. It is used to give a distinct flavor to seafood, meat, and poultry dishes. There has been a steady growth in the agave syrup market since its launch, and several bakeries have incorporated the use of agave syrup instead of sugar and honey.
This report on agave syrup covers trends driving each segment and offers analysis and insights into the potential of the agave syrup market in specific regions. On the basis of product type, the agave syrup market is segmented as light and dark. On the basis of function, the agave syrup market is segmented as emulsifier, sweetener and flavor enhancer. On the basis of application, the agave syrup market is segmented as bakery, beverages, confectionery, and others.
On the basis of the distribution channel, the agave syrup market is segmented as direct and indirect. North America is expected to register high growth rates between 2018 and 2026. APAC is expected to remain the largest market through 2026, followed by MEA. China region accounted for nearly 40% value market share in 2018 and the overall APAC market expected to account for 31.1% market share by 2026 in the global agave syrup market.
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Detailed profiles of the providers are also included in the scope of the agave syrup market report to evaluate their long-term and short-term strategies, key offerings and recent developments in the agave syrup space. Some of the key players in the agave syrup market include The IIDEA Company, Malt Products Corporation, Swanson Health Products Inc., Loving Earth Pty Ltd, Domino Foods Inc., Vita Foods Products, Inc., Nature’s Agave, Inc., NOW Health Group, Inc., Groovy Food Company Ltd, The Colibree Company, Inc., The American Beverage Marketers, Madhava Natural Sweeteners, Global Goods Inc., The Simple Syrup Co., SunOpta Inc. and Natura BioFoods.