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Market Overview
North America Stevia market is estimated to record a CAGR of 9.8% during the forecast period (2019-2024).
- Stevia is widely used in a variety of food products such as dairy, bakery & confectionery, beverages and pharmaceuticals, as it can be easily incorporated and as it imparts sweetness with very low calories.
- The increasing cases of diabetes, obesity and other health problems have shifted the focus toward low-calorie sweeteners which act as sugar substitutes
- A major threat is the availability of the other low-calorie sweeteners.
Scope of the Report
The market study of North America Stevia market is segmented by type as powder, liquid, and leaf. By application, the market is segmented as bakery, dairy food products, beverages, pharmaceuticals and other applications.
Key Market Trends
Rapid growth of North America Stevia Market
According to the OECD Health Statistics 2017, Mexico has one of the highest obesity rates in the world. In 2014, Mexico introduced a sugar tax, Since then food and beverage manufacturer have been increasingly looking for natural sweeteners which are zero calories substitute for sugar. This has contributed to the rapidly growing stevia market in Mexico. Using stevia helps reduce dietary sugars and calories and has a wider consumer acceptance because of taste and healthfulness. Diabetic population for the age group 20-79 years in Mexico is about 10 million, which is expected to grow at a rate of 60% in the next 20 years, which creates a great opportunity for stevia market and is a contributing factor of rapidly expanding stevia market in Mexico.
Sweetener Consumption Behaviour in USA, 2016.
In 2016, 33% of US consumers claimed that they limited their sugar consumption more than they did in last year. 45% of US consumers said that they limited the same amount of sugar consumption as they did in last year. While 4% said that they limited their sugar consumption less than they did in last year. 17% of them said that they do not limit their sugar consumption. Therefore, a total of 83% of US consumers are limiting their sugar consumption, which creates an opportunity for stevia market to expand as it is a natural, zero-calorie substitute of sugar and comes with various health benefits.
Competitive Landscape
Owing to the presence of numerous small and large vendors, the market is highly fragmented. Most of the companies involve aggressive promotion of stevia-based products to improve product positioning and visibility. Some of the major players in the market include Cargill Inc., Tate & Lyle, PureCircle, Ingredion Incorporated, Archer Daniels Midland Company.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
North America Stevia market is estimated to record a CAGR of 9.8% during the forecast period (2019-2024).
- Stevia is widely used in a variety of food products such as dairy, bakery & confectionery, beverages and pharmaceuticals, as it can be easily incorporated and as it imparts sweetness with very low calories.
- The increasing cases of diabetes, obesity and other health problems have shifted the focus toward low-calorie sweeteners which act as sugar substitutes
- A major threat is the availability of the other low-calorie sweeteners.
Scope of the Report
The market study of North America Stevia market is segmented by type as powder, liquid, and leaf. By application, the market is segmented as bakery, dairy food products, beverages, pharmaceuticals and other applications.
Key Market Trends
Rapid growth of North America Stevia Market
According to the OECD Health Statistics 2017, Mexico has one of the highest obesity rates in the world. In 2014, Mexico introduced a sugar tax, Since then food and beverage manufacturer have been increasingly looking for natural sweeteners which are zero calories substitute for sugar. This has contributed to the rapidly growing stevia market in Mexico. Using stevia helps reduce dietary sugars and calories and has a wider consumer acceptance because of taste and healthfulness. Diabetic population for the age group 20-79 years in Mexico is about 10 million, which is expected to grow at a rate of 60% in the next 20 years, which creates a great opportunity for stevia market and is a contributing factor of rapidly expanding stevia market in Mexico.
Sweetener Consumption Behaviour in USA, 2016.
In 2016, 33% of US consumers claimed that they limited their sugar consumption more than they did in last year. 45% of US consumers said that they limited the same amount of sugar consumption as they did in last year. While 4% said that they limited their sugar consumption less than they did in last year. 17% of them said that they do not limit their sugar consumption. Therefore, a total of 83% of US consumers are limiting their sugar consumption, which creates an opportunity for stevia market to expand as it is a natural, zero-calorie substitute of sugar and comes with various health benefits.
Competitive Landscape
Owing to the presence of numerous small and large vendors, the market is highly fragmented. Most of the companies involve aggressive promotion of stevia-based products to improve product positioning and visibility. Some of the major players in the market include Cargill Inc., Tate & Lyle, PureCircle, Ingredion Incorporated, Archer Daniels Midland Company.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
