North America Stevia Market - Growth, Trends, and Forecast (2019 - 2024)

The North American Stevia Market is Segmented on the basis of Type (Powder, Liquid, and Leaf), Application (Bakery, Dairy Food Products, Beverages, Pharmaceuaticals, and Other Applications), and Geography.

Market Snapshot

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Study Period:

2016-2024

Base Year:

2018

CAGR% (2019-2024):

9.8%

Key Players:

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Market Overview

The North American 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, and confectionery, beverages, and pharmaceuticals, as it can be easily incorporated,  imparting a sweet taste, using very little 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 to this market is the prompt availability of other low-calorie sweeteners.

Scope of the Report

The North American stevia market is segmented on the basis of type, into powder, liquid, and leaf. By application, the market is segmented into bakery, dairy food products, beverages, pharmaceuticals, and other applications.

By Type
Powder
Liquid
Leaf
By Application
Bakery
Dairy Food Products
Beverages
Pharmaceuticals
Other Applications
Geography
North America
United States
Canada
Mexico
Rest of North America

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Key Market Trends

Rapid Growth in the North America Stevia Market

According to the OECD Health Statistics 2017, Mexico had one of the highest obesity rates in the world. In 2014, Mexico introduced a sugar tax. Since then, food and beverage manufacturers have been increasingly looking forward to using natural sweetners, which have zero calories and are potential substitutes for sugar. This trend has contributed to the rapidly growing stevia market in Mexico. Stevia helps reduce dietary sugar and calories, and has a wider consumer acceptance because of its taste and health quotient. In Mexico, the diabetic population in the age group of 20 years to 79 years is about 10 million, which is expected to grow at a rate of 60%, over the next 20 years. This is a contributing factor to the rapidly expanding stevia market in Mexico.

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Sweetener Consumption Behavior in the United States, in 2016

In 2016, 33% of the US consumers claimed that they had limited their sugar consumption more than they did in the previous year. About 45% of the US consumers said that they had limited the same amount of sugar consumption as they did in the previous year. While 4% said that they had limited their sugar consumption less than they did in the previous year, 17% of them said that they did not limit their sugar consumption. Therefore, 83% of the US consumers are limiting their sugar consumption, which creates an opportunity for the stevia market to expand, as it is a natural, zero-calorie subtitute for sugar, and comes with various health benefits.

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Competitive Landscape

Owing to the presence of numerous small and large vendors, the market is highly fragmented. Most of the companies engage in aggressive promotion of stevia-based products, to improve their product positioning and visibility. Some of the major players in the market are Cargill Inc., Tate & Lyle, PureCircle, Ingredion Incorporated, and Archer Daniels Midland Company.

Major Players

  1. PureCircle
  2. Ingredion Incorporated
  3. Tate & Lyle
  4. Cargill Incorporated
  5. Archer Daniels Midland Company

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Powder

      2. 5.1.2 Liquid

      3. 5.1.3 Leaf

    2. 5.2 By Application

      1. 5.2.1 Bakery

      2. 5.2.2 Dairy Food Products

      3. 5.2.3 Beverages

      4. 5.2.4 Pharmaceuticals

      5. 5.2.5 Other Applications

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market-share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 PureCircle

      2. 6.4.2 Ingredion Inc.

      3. 6.4.3 Tate & Lyle

      4. 6.4.4 Cargill

      5. 6.4.5 Archer Daniels Midland Company

      6. 6.4.6 Evolva

      7. 6.4.7 Biosweet Ventures

      8. 6.4.8 GLG Life Tech Corp.

      9. 6.4.9 S&W Seed Co.

      10. 6.4.10 Whole Earth Sweetener Co.

      11. 6.4.11 HYET Sweet

      12. 6.4.12 Hunan huacheng Biotech Inc.

      13. 6.4.13 Cumberland Packing Corporation

      14. 6.4.14 SweetLife Stevia Sweetener

      15. 6.4.15 Stevia First Corporation

      16. 6.4.16 Stevita Stevia

      17. 6.4.17 PureSweet

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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