Central And South America And The Caribbean To Show Considerable Growth Agave Nectar

(MENAFN- Straits Research) Introduction

Increased investments and advancements in the hospitality and tourism sector have led to an increase in the demand for agave nectar by the food industry. Over the past five years, the hospitality industry has witnessed great interest in the region due to its diversity and natural resources. Most of its popularity can be awarded to the government's commitment to promoting the hospitality and tourism sector by creating a favorable climate for FDI by foreign players and countries like China that are looking for an alternative for the U.S. due to the continuing cold war.

The World Economic Forums Travel and Tourism Competitiveness Index report listed six Latin American countries among the top 50 as the most competitive countries worldwide. Chile experienced a 6.4% increase in European tourists and a 33.9% rise in Chinese tourists' arrival in the year 2017.

COVID-19 Impact Analysis

COVID-19 pandemic has severely affected global trade. International orders have been sealed while economies and international organizations are looking for an easy way out. The number of cases has been high in countries such as the U.S, Canada, and Mexico, which are also the major shareholders in the agave nectar market. The prevailing situation, coupled with disruption in supply chains, will further affect the procurement cycle to a large extent and increase the prices for the products that use agave nectar. Furthermore, companies have lowered production capacities due to a falling demand curve.

Agave nectar is derived from plants, and the pandemic has affected the agriculture market equally, thereby hampering the market further. Since agave nectar is a consumer product and its consumption is largely dependent on the consumption power of the end-user, the ongoing situation has reduced consumer spending, which is estimated to have a considerable impact on the market growth.

Key Players

Wholesome Dipasa USA
F.D (PTY) Ltd
Colibree Company,
The Groovyfood company
Ciranda Inc.
Dandy Lions Limited
Susana Sweeteners
Maretai Organics
Global Goods, Inc.
The idea Company
American Beverage Marketers
Malt Products Corporation
Madhava Natural Sweeteners

Competitive Players

Wholesome Dipasa USA

F.D (PTY) Ltd

Colibree Company

The Groovyfood company

Whole Earth Sweetener Co

Ciranda Inc.

Dandy Lions Limited

Susana Sweeteners

Maretai Organics

Global Goods, Inc.

The Idea Company

American Beverage Marketers

Malt Products Corporation

Madhava Natural Sweeteners

Recent Developments

February 2024- The Mexican agave producer, the iidea Company, expanded its operations in the U.S. by launching a new line of organic agave syrup targeted at health-conscious consumers.

April 2024- Madhava Natural Sweeteners introduced a new product line of flavored agave syrups, including vanilla and cinnamon-infused options. These are aimed at the European market, where demand for innovative sweeteners is growing.

January 2024- Whole Earth Sweetener Co. expanded its product range by adding organic agave-based sweeteners in Asia-Pacific, particularly in China and India, tapping into the region's rising demand for plant-based alternatives.

Segmentation

By Nature

Organic

Conventional

By Applications

Dairy

Beverages

Alimentary

Chocolate

Others

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