Agave - Procurement Intelligence | ELINT Market Research

Procurement Market Intelligence Report

Agave – Procurement Best Practices & Sourcing Strategies

Agave Market – Category Definition, Cost Structure Analysis, Price Forecast, Cost Saving Opportunities, Negotiation Levers, LCCS Analysis, Supply–Demand Trends, Global Trade Dynamics, Global Imports and Exports, Procurement-Centric Five Forces Analysis, Key Suppliers, Shortlisting Criteria for Recommendation, Market Share, RFP Builder, Innovation Updates, Technology Updates, Sustainability Initiatives, Regulatory Updates

1. Category Definition
1.1. Key Attributes
1.2. Definition of Attributes & Elements
2. Cost Structure Analysis
2.1. Key Cost Components
2.2. Cost Contribution
2.3. Regional Analysis
3. Price Forecast
3.1. Price Forecast
4. Cost-Saving Opportunities
4.1. Key Destinations
4.2. Factor Analysis
4.3. Overall Impact Analysis
5. Negotiation Levers
5.1. Demand Trends
5.2. Supply Conditions
5.3. Price Outlook
5.4. Input Cost Outlook
5.5. Impact Analysis
6. LCCS Analysis
6.1. Key Destinations
6.2. Factor Analysis
6.3. Overall Impact Analysis
7. Supply–Demand Trends
7.1. Demand Trends
7.2. Supply Conditions
7.3. Capacity Updates
7.4. Operating Rate
7.5. Impact Analysis
8. Global Trade Dynamics
8.1. Trade Dynamics – Global
8.2. Trade Dynamics – Regional
9. Global Imports and Exports
9.1. Key Cost Components
9.2. Cost Contribution
9.3. Regional Analysis
10. Procurement-Centric Five Forces Analysis
10.1. Key Levers
10.2. Benefits
10.3. Enablers
10.4. Factor Analysis
11. Key Suppliers
11.1. Company Profiles
11.2. Capability Information
12. Shortlisting Criteria for Recommendation
12.1. Demand Trends
12.2. Supply Conditions
12.3. Capacity Updates
12.4. Operating Rate
12.5. Impact Analysis
13. Market Share
13.1. Trade Dynamics – Global
13.2. Trade Dynamics – Regional
14. RFP Builder
14.1. Company Profiles
14.2. Capability Information
15. Innovation Updates
15.1. Key Attributes
15.2. Definition of Attributes & Elements
16. Technology Updates
16.1. Key Cost Components
16.2. Cost Contribution
16.3. Regional Analysis
17. Sustainability Initiatives
17.1. Key Levers
17.2. Future Trend
17.3. Impact on Buyer
18. Regulatory Updates

FAQs Related to the Agave Market: 

  1. How big will be the agave trade market in the coming years?

The agave industry will reach USD 246.22 million by 2029 at a CAGR of 5.63%.

 

  1. Which countries are in a dominating position in the agave market?

APAC and North America are operating in dominating positions. 

 

  1. What is a major growth driver for the agave sector?

Rising consumer choices for sugar alternatives drive growth in the agave sector.

DESCRIPTION

Agave Market Global Size:

Consumer choices have changed promptly in the last ten years. There has been a tremendous movement toward clean-label, organic, sustainable, and healthful food products, which is expected to keep going in the upcoming years. Hence, this remarkable shift caused a USD 187.24 million in 2024 for the Global Agave Market as stated by a procurement intelligence report from ELINT Market Research.

 

Further, food manufacturers operating in the agave sector are constantly trying to provide transparency for their agave food products and draw consumer attention. Thus, the future prediction for this market is expected to reach USD 246.22 million by 2029 at a CAGR of 5.63%. Moreover, the study revealed that the potential of the tequila industry can be used to assess the dynamics of the agave business. It has been noted that tequila demand has increased dramatically recently, with Asia being the main market. This fact drives growth in the agave sector since it is a key ingredient that helps produce tequila beverages.

 

Additionally, the growing worldwide export moves show that there is an increasing requirement for 100% pure tequila over time. These exports are predicted to climb in 2022 in Mexico. Given that the need for the beverage is thought to have increased recently. Tequila consumption is unlikely to be affected by the ongoing economic trajectory in the US. Also, the beverage domain is becoming more popular in the Asian market.

Market Definition:

Agave plants have different varieties like Jerusalem artichoke, chicory, and agave, which have multiple applications in diverse segments. For instance, agave nectar operates as a versatile compound that gained popularity as a natural sweetener and has been utilized more frequently in some provinces to replace sugar. Furthermore, agave inulin, which typically appears in packaged food items, has positive health impacts. Inulin is a white granular substance that ranges in sweetness from 10% to 20%. While inulin can be found in a fluid state, its length of storage is significantly fewer than that of powder form, therefore it needs to be stored in a cool place.

Agave Market Drivers:

  1. High Demands from Food & Beverages Industry –

The food and beverage industry appeared as the major consumer of agave goods to build packaged food items. Agave syrup and agave nectar are two significant forms that are progressively employed as an organic sweetener alternative to sugar and artificial sweeteners. These compounds contain a reduced glycemic index and derive from natural sources that draw health-conscious consumers’ attention. Hence, the flourishing needs for plant-based foods and food & beverage industries are key growth drivers for the Agave market.

 

  1. Increasing Diabetic Population –

A large portion of the worldwide population deals with diabetic conditions which require staying fit and consuming less quantity of sugar. Thus, this aspect drives development in the agave syrup industry since it is an organic sweetener and does not have any negative health effects like sugar. Hence, agave operates as a natural sugar substitute and meets growing consumer awareness and concerns about obesity and diabetes conditions.

Agave Market Challenges:

  1. Negative Impacts of Processed Foods –

Agave nectar and syrup are crucial ingredients in making processed foods and rising consumer awareness about the adverse impacts of processed food on health causes less demand for agave. Thus, global agave procurement intelligence companies face challenges due to the introduction of organic and natural resources in place of processed sugar. Thus, manufacturers are pushing agave nectar as a low-GI and slow-releasing carbohydrate commodity, which propels its demand especially in developed North America and European nations.

 

  1. Unfavorable Weather Conditions –

Agave plants require suitable weather conditions to grow and climate events like droughts, frosts, and high temperatures impact their farming. Thus, manufacturers operating in the international market experience challenges in harvesting agave plants.

Agave Market Opportunities:

  1. Emergence of New Innovations –

Businesses functioning in the Agave market experience new prospects due to the emergence of technological innovations that help in agave cultivation, supply, product diversification, and more. Also, the introduction of diverse agave-based quality products like flavored and nutritional agave syrups drove consumer attention.

 

  1. Growing Disposable Income of Consumers –

Gradually rising disposable income of the worldwide population also poses major opportunities in the agave industry since individuals are more capable of investing in natural sweeteners than artificial ones. Therefore, market players are also constantly manufacturing healthier and more sustainable food options.

Agave Market Segmentation:

  1. Forms of Agave –

Liquid and dry are two key forms of agave products. Liquid agave is mainly used in the form of syrup to provide natural sweetness to food items like drinks and dairy products. It is an easily soluble substance. Further, dry agave operates in powder forms and helps make baked items, cereals, and snacks. This form of agave has extended shelf life and easy-to-transport qualities. Hence, it is a foremost choice of manufacturers to build solid food products.

 

  1. Various Applications –

In the food and beverage industries Agave has applications in dietary supplements, low-calorie food items, and drinks. Besides the food sector, agave goods also have multiple applications in nonfood domains such as medicine, industrial operations, biodegradable materials, biofuels, sustainable textiles, etc. Hence, agave manufacturing companies are required to explore this diversification of agave to drive profitability and contribute to market growth.

Regional Analysis of the Agave Market:

According to this procurement market analysis, APAC nations mainly demand agave inulin to fulfill the bread and confectionery sector’s demands. Thus, the food and beverage business of this country helped India and China to become progressive economies. Further, in North America, the USA, and Mexico regions assisted in fulfilling rising low-calorie and sugar food products needs. Also, the pharmaceutical industry is expanding in Mexico which is expected to drive growth in the agave market.

Key Suppliers in the Agave Market:

Prominent manufacturers in the agave industry constantly spend on research and development moves to enhance their products’ quality which include Jose Cuervo​, Casa Sauza​, Destileria Santa Lucia​, Fabrica De Tequilas Finos S.A. De C.V.​, Casa Tequilera Aceves​, The Iidea Company​.

 

Additional Information

Purchase Option

Single User License, Multiple User License

Report ID

121

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