As per Future Market Insights (FMI), the global agave syrup market is currently valued at US$ 571.1 million in 2033 and it is expected to attain a valuation of US$ 1,092.4 million by 2033. Global sales of agave syrups are likely to soar at a healthy CAGR of 6.7% during the forecast period from 2023 to 2033.

The global agave syrup market is expanding due to the growing use of these products in baking, confectionery, and beverage applications. Thus, shifting consumer preferences towards sugar substitutes should increase demand for agave syrup.

Sugar’s harmful effects have led to a continuing desire for sugar substitutes. For more than 14 years, agave has been utilised as an organic sugar substitute. Twenty times more sweetness can be obtained from 100 g of agave than from sugar or honey.

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Agave syrup contains two vitamins, vitamin C and vitamin B, both of which are sugar-free. Agave syrup is commonly used in tequila manufacturing due to its sweetening and flavoring qualities. As a result, increased tequila consumption will eventually boost the demand for agave syrup.

In the past few years, there has been a significant increase in worldwide demand for clean-label foods. This is due to increasing consumer awareness about the health benefits of products containing natural ingredients.

Growing demand for clean-label products is prompting companies to use items such as agave syrups in their products. This in turn will boost the target market during the assessment period.

Agave syrup has a caramel flavor and can be used in beverages with a strong flavor. It may also enhance the flavor of fish, pork, and poultry meals.

Rising usage of agave syrup as an ideal alternative to sugar and honey across thriving bakery and confectionery sectors will create lucrative growth prospects for the market.

Key Takeaways from the Agave Syrup Report:

  • The global agave syrup industryis expected to reach a valuation of US$ 1,092.4 million by 2033.
  • Global demand for agave syrup is likely to soar at 7% CAGRover the forecast period.
  • Based on product type, light agave syrup segment is estimated to reach a valuation of US$ 1 million by 2033.
  • By application, beverages segment is expected to hold a market share of 3% during the projection period.
  • The United States agave syrup market is projected to reach a valuation of US$ 95.2 million by 2033.
  • Agave syrup sales in China are likely to rise at 6% CAGR through 2033.
  • India agave syrup industry is poised to expand at around 0% CAGR during the assessment period.

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“As health-conscious consumers actively seek out natural and alternative sweeteners demand for agave syrups is set to rise at a robust pace through 2033. While some concerns exist regarding its fructose content, agave syrup’s versatility, and perceived lower glycemic index have made it a popular choice across a wide range of products. This continued demand has contributed to its steady growth and sustained market presence, indicating its relevance in meeting the needs of health-conscious individuals.” says a lead analyst at Future Market Insights (FMI)

Who is Winning?

Malt Products Corporation, Groovy Food Company Ltd, The IIDEA Company, Swanson Health Products Inc., Madhava Natural Sweeteners, Loving Earth Pty Ltd, Domino Foods Inc., SunOpta Inc., Vita Foods Products, Inc., Nature’s Agave, Inc., Global Goods Inc., NOW Health Group, Inc., The Colibree Company, Inc., The American Beverage Marketers, The Simple Syrup Co., and Natura BioFoods are key agave syrup and its product manufacturers listed in the report.

These key companies are committed to expanding their portfolios by introducing new products. They are also showing interest in employing strategies such as partnerships, mergers, acquisitions, etc. to gain profits. For instance,

  • Recently, Global Organics Ltd. unveiled Organic Wild Salmiana Agave Syrup to meet rising end user demand.

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Agave Syrup Market by Category

By Product Type :

  • Light
  • Dark

By Function :

  • Emulsifier
  • Sweetener
  • Flavor Enhancer

By Application :

  • Bakery
  • Beverages
  • Confectionery
  • Others (Marinades, Salads)