The global agave syrup market is growing at a CAGR of 5.8% during the forecast period (2020-2025).

  • The market is mainly driven by diabetic patients and the health consciousness of consumers due to the rising demand for natural sugar substitute products, awareness regarding negative health effects of sugar that results in an increase in obesity and diabetes and increasing demand for clean label food products. Also, innovations with new product formulations have further fueled market growth. For instance, the iidea company launched a new range of agave syrup-clean and organic sweetener for food manufacturers to fulfill the demand for clean label food products. Geographically, Asia Pacific is the leading country in the agave syrup market, followed by North America and Europe.
  • However, the decreased availability of the sugar substitutes and development of artificial sweeteners have shifted preferences of consumers towards artificial sweeteners and is thus restraining the market.



Key Market Trends

Decreased Sugar Consumption Due to Increasing Obese and Diabetic Population

Sugar consumption results in increased overweight as it immediately upsurges the blood sugar. OECD in the year 2015, has surveyed for the prevalence of overweight including obesity among the adults and has found it to be significantly high in Europe and North American region as compared to Asian countries. Therefore, these regions have been majorly shifting towards sugar substitutes such as agave syrup that are better alternatives for sugar.

Asia Pacific to Drive the Agave Syrup Market

Asia-Pacific region accounts for the largest share in the agave syrup market owing to the increased demand as a flavoring agent in several types of food products including baked goods, confectioneries, dairy products and various beverages in the region. Also, with the increasing internet penetration, online market for the purchase of such food products has seen a rapid growth globally in last 3-4 years, therefore attracting a few vertical specialists like Amazon, Walmart, Carrefour etc. who are riding on increasing e-retailing growth and vying for a significant pie in online natural sweeteners space.

Competitive Landscape

The global market for agave syrup is fragmented, owing to the presence of large regional and domestic players in different countries. Emphasis is given on the merger, expansion, acquisition and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. For instance, in January 2018, Tacoma-based Moctezuma’s Mexican Restaurant launched its own line of orange liqueur for its margaritas using dark agave nectar from Mexico.

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