Global Agave Syrup Market

Agave Syrup is produced from the agave plant through its nectar. It acts as a sweetener and is produced naturally. The global Agave Syrup market is being driven by growing demand for healthy sweetener products. Another major driving factor for the market is the introduction of the new products by the manufacturers. For instance, in May 2021, Arkay launched the world’s first alcohol-free aromatic bitter which includes Agave Syrup as one of the ingredients. Furthermore, the increase in diabetic patients is influencing the market positively. For instance, according to the World Health Organization, in 2019, around 1.5 million deaths were directly caused by diabetes. Also, the growth in health-conscious consumers, will provide new opportunities for the global Agave Syrup industry. However, development of artificial sweeteners and lack of awareness among the consumers to use natural sweeteners may impede market growth over the forecast period of 2021-2027.

Global Agave Syrup Market is valued approximately at USD 1.07 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 3.95% over the forecast period 2021-2027 and is estimated to reach USD 1.40 billion by 2027.

The key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World are evaluated for regional analysis of the global Agave Syrup Market. Asia Pacific is the leading region across the world in terms of market share due to increased demand of flavoring agents in different types of food products and expansion of e-commerce. Whereas Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2021-2027 due to the increasing number of diabetic patients and increasing per capita income in the region.

Major market players included in this report are The iidea Company, The Agave Sweetener Company, NOW Health Group Inc, Best Ground International, Natural Substitute De Mexico S.A. DE C.V., Naturalever de México, Malt Products Corporation, Natura Bio Foods, Madhava Ltd, and Colibree Company.

The detailed segments and sub-segment of the market are explained below:

By Product Type: Light, Dark
By Industry: Food, Beverage, Others
By Distribution Channel: Offline, Hypermarkets, Online, Others

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Bizwit Research & Consulting LLP