Blue Agave Market: Introduction
Blue agave is also known as Weber Azul a part of Agave tequilana species. The blue agave has a number of economic importance and is mostly cultivated in South America and South Africa. The blue agave extract is the major raw material used for the production of tequila drink native to the region consumed globally and other distilled beverages.
The fructose present in the core of the stem is of the economic importance which is used in the production of nectar and natural sweetener ingredient. The Blue agave market is expected to experience substantial growth over the forecast period. North America is expected to dominate the global blue agave market in terms of volume consumption resulted by rising demand for the natural ingredient in the region and presence of large processed food industry. The blue agave market is expected to be driven by the increasing demand for alternative sweetener and alcoholic beverages over the forecast period.
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Blue Agave Market: Dynamics
The blue agave market is expected to be driven by the benefits of the product usage such as a natural alternative to harmful sweeteners in process foods. The blue agave market is expected to be driven by the increasing demand for distilled products such as tequila at a global scale. Robust investment into innovative growing techniques for the blue agave plant is expected to drop down the price and increase the per unit yield of the crop. Restriction to growing condition and slow crop cycles is expected to cause restraint for the blue agave market over the forecast period.
Blue Agave Market: Segmentation
The blue agave market is segmented on the basis of nature, end-product, and end-use. Segmentation on the basis of nature in the blue agave market is organic and conventional. The conventional segment is expected to dominate the global market in terms of volume share owing to the easier availability and cheaper price point over organically grown blue agave. The organic segment is anticipated to experience comparatively higher CAGR over the forecast period resulted in the large adoption of organic food in developed regions.
On the basis of end-product, the global blue agave market is segmented into tequila, sweetener and nectar. The tequila segment is expected to dominate the global blue agave market resulted by larger demand base for the alcoholic products, globally. The sweetener segment is expected to see a substantial demand over the forecast period owing to the rapid adoption of natural alternative sweetener over the food and beverage industry. On the basis of the end–use, the blue agave market is segmented into food and beverage, pharmaceutical, nutraceutical, and others. The food and beverage segment is further segmented into confectionary, dressings, bakery, dairy, and beverage. The food and beverage sector is expected to dominate the global blue agave market over the forecast period resulted by the larger application of the products in the sector. The nutraceutical sector is expected to capture a substantial volume share in the global market owing to the increasing adoption of supplement based lifestyle over the developed and developing regions, globally.
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Blue Agave Market: Regional Outlook
North America is expected to dominate the global blue agave market resulted in higher demand for alternative sweeteners from the food industry. Europe region to follow the next owing to mature consumer base for the natural sweetener and nectar which is expected boost demand for blue agave products over the forecast period.
The Asia Pacific is expected to form an attractive market to play for the manufacturers of blue agave products owing to the increasing purchasing power of the consumer in the region and raising awareness over natural based products. The Latin America Region is expected to witness a steady market owing to the fact that the region is a traditional market for the blue agave products.
Blue Agave Market: Key Players
The global player for the Blue Agave market are Wholesome Inc., San Marcos Growers, Dipasa USA, Madhava Natural Sweeteners, Colibree Company, Global Goods Inc., and The Groovyfood Company.
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