Market Trends of North America Stevia Industry
This section covers the major market trends shaping the North America Stevia Market according to our research experts:
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.
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.
