North America Stevia Market

Market Introduction

The North America stevia market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. With the increasing incidence of diabetes and obesity, consumers are progressively shifting toward natural sweetening products. According to the International Diabetes Foundation, 641 million people will have diabetes by 2040, rising from 415 million in 2015. Obesity is a prevalent disease that leads to diabetes along with other chronic diseases such as hypertension, metabolic syndrome, cardiovascular risk, and retinopathy. The authorities across the region are focusing on a healthier lifestyle, which includes a reduction in the number of calories consumed, especially added sugar. The World Health Organization (WHO) has recommended a decrease in added sugars in the daily lifestyle. To lower the amount of sugar intake, consumers prefer natural sweeteners such as stevia, which helps in weight management by reducing added sugar and calories. Along with this, the consumers are increasingly consuming products having no added sugar. Thus, an increase in consumer inclination toward natural sweeteners is driving the growth of the stevia market.

In North America, the US reported a huge number of COVID-19 cases, which led to the discontinuation of several business operations, including stevia production activities. Downfall of other food and beverages producing sectors negatively impacted the demand for stevia during the early months of 2020. However, the pandemic has led to major shifts in consumer preferences with an increased awareness about having a healthy lifestyle. Consumers are substituting conventional ingredients with healthier alternatives, which is, in turn, increasing the demand for natural sweeteners such as stevia. An increase in the diet prference for no added sugars and low carbohydrates among consumers has led to an increase in the demand for stevia. During the pandemic, there has been rapid surge in the demand for low sugar and immunity-boosting products due to which people are seeking solutions to improve their overall health and wellbeing. The COVID-19 pandemic has prompted customers to become health conscious and turn to low-calorie or sugar-free food, thereby having a positive impact on the stevia market.

North America Stevia Strategic Insights

Strategic insights for the North America Stevia provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Stevia Report Scope

North America Stevia Regional Insights

The geographic scope of the North America Stevia refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The stevia market in North America is expected to grow from US$ 122.83 million in 2021 to US$ 212.38 million by 2028; it is estimated to grow at a CAGR of 8.1% from 2021 to 2028. Several domestic and international companies have a strong foothold in the North American region. Key market players present in the North America stevia market include Ingredion Incorporated, PureCircle, GLG Life Tech Corporation, ADM, S&W Seed Company, and others. These companies are constantly working towards innovation and new product developments of stevia with improved tastes and qualities to attract new consumers and widen the consumer base in the region. Consumers in North America are developing a positive outlook for healthy food. They are becoming aware of the health benefits associated with consuming the same, which in turn fosters the growth of the stevia market in the region. An upsurge in the instances of obesity, high blood pressure, and diabetes has made people inclined towards highly nutritious products, thereby providing new opportunities for stevia manufacturers. Besides this, technological advancements in the field of stevia processing and production of stevia bolster the demand for stevia in North America. For instance, in 2019, PureCircle developed and is now expanding the use of a new stevia leaf variety which offers notable advantages compared to previous generations of stevia plants. Carefully cultivated by PureCircle and successfully field-tested, more significant quantities of its great-tasting next-generation stevia ingredients. With that greater yield, the new stevia variety provides further cost-effectiveness as more substantial quantities of ingredients can be sourced from each leaf. Besides, in the same year, PureCircle entered into a new stevia supply agreement with Merisant, specializing in producing low- and zero-calorie tabletop sweeteners for consumers. This partnership will help to ensure Merisant’s long-term supply of the best-tasting stevia ingredients.

Key Market Segments

Based on type, the powder segment accounted for the largest share of the North America stevia market in 2020. Based on application, the beverages segment accounted for the largest share of the North America stevia market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the North America stevia market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Cargill, Incorporated; Ingredion Incorporated; Tate & Lyle PLC; GLG Life Tech Corp; the Archer-Daniels-Midland Company; S&W Seed Company; Morita Kagaku Kogyo Co., Ltd.; and PureCircle.

Reasons to buy report

• To understand the North America stevia market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for North America stevia market
• Efficiently plan M&A and partnership deals in North America stevia market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America stevia market
• Obtain market revenue forecast for market by various segments from 2019-2028 in North America region.

North America Stevia Market Segmentation

North America Stevia Market -B

y Type

• Whole Leaf
• Powder
• Liquid

North America Stevia Market -By Application

• Dairy and Frozen Dessert
• Bakery and Confectionery
• Tabletop Sweetener
• Beverages
• Others

North America Stevia Market – By Country

• US
• Canada
• Mexico

North America Stevia Market – Company Profiles

• Cargill, Incorporated
• Ingredion Incorporated
• Tate & Lyle PLC
• GLG Life Tech Corp
• The Archer-Daniels-Midland Company
• S&W Seed Company
• Morita Kagaku Kogyo Co., Ltd.
• PureCircle