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North American Stevia Market is Segmented on the basis of Type (Powder, Liquid, and Leaf), Application (Bakery, Dairy Food Products, Beverages, Pharmaceuticals, and Other Applications), and Geography.
North American stevia market is estimated to record a CAGR of 9.8%, during the forecast period (2020-2025).
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.
|Dairy Food Products|
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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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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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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.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
3.1 Market Overview
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.2 By Application
5.2.2 Dairy Food Products
5.2.6 Other Applications
5.3.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market-share Analysis
6.4 Company Profiles
6.4.2 Ingredion Inc.
6.4.3 Tate & Lyle
6.4.5 Archer Daniels Midland Company
6.4.6 GLG Life Tech Corp.
6.4.7 S&W Seed Co.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability