Social Media Marketing and Growing Consumer Awareness to Boost Demand for Agave Nectar
Over the past decade, consumer preferences have evolved at a rapid pace. A tectonic shift toward healthy, organic, natural, and clean-label food products can be observed– a trend that is expected to continue in the upcoming years. The notable shift toward healthier food alternatives, growing consumer demand for transparency from food manufacturers, and the advent of social media are some of the leading factors that have played an important role in augmenting the demand for niche food products such as agave nectar. The demand for agave syrup and agave nectar has witnessed a considerable surge over the past few years.
Agave nectar has gained a great amount of popularity as a natural sweetener and is increasingly being used as a substitute for sugar in several regions. Growing prevalence of diabetes worldwide, the surge in demand for agave nectar from the food & beverages industry, product diversification, and soaring consumer appetite for organic and natural ingredients are some of the leading factors that are expected to boost the growth of the agave nectar market during the forecast period. At the back of these factors, along with a growing focus on launching new products, the global agave nectar market is projected to attain a market value of ~US$ 272 Mn by the end of 2030.
Processed Food Products See Red Flags from Consumers
The demand for agave nectar is predominantly influenced by the rising consumer awareness pertaining to the benefits of agave nectar and syrup. In addition, as more number of consumers turn their back on processed sugars and high-fructose syrups, organic and natural alternatives, including agave nectar have received a great degree of attention. Companies operating in the current agave nectar market are marketing agave nectar as a product with low glycemic index and slow-release carbohydrate due to which, the demand for the same is on the rise, particularly in developed regions of North America and Europe.
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At present, the demand for agave nectar particularly from the food & beverages sector is moving in the upward trajectory– a trend that is likely to continue during the forecast period, thereby boosting the growth of the agave nectar market. Although research activities continue to reveal the adverse effects of agave nectar on human health, companies operating in the current market landscape are increasingly investing resources to produce new products that are expected to appeal the health-conscious consumers.
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Market Players Launch New Products to Gain Edge
Players operating in the current agave nectar market are expected to focus on product development, product diversification, pricing strategies, and promotional and marketing strategies to gain a competitive edge. While several companies continue to target the health-conscious consumers via impactful marketing strategies, brands are also expected to launch new products to strengthen their foothold in the agave nectar market during the forecast period. For instance, in 2017, Silver Spoon launched a new line of flavored agave nectar. Apart from launching a new product range, the company also focused on enhancing the packaging and designs of their products to attract more consumers. In addition, while sales via conventional sales channels, including supermarkets, hypermarkets, and retail stores are increasing at a consistent pace, brands are also expected to boost sales via listing their products on e-Commerce platforms. Companies are also expected to focus on branding and packaging strategies to gain a competitive edge.