Market Size of South America Stevia Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.90 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Stevia Market Analysis
The South American stevia market is projected to record a CAGR of 8.9% during the forecast period.
- The market is driven by the increasing demand for low-calorie sweeteners from food and beverage manufacturers, which has increased from the past few years. This is primarily due to the rising concern of obesity and diabetes across the region. Therefore, many key players in food and beverages are introducing the products with natural low-calorie sweeteners, mainly stevia. In addition, the rising consumer demand from developing economies toward low-sugar beverages and functional foods is boosting the demand for stevia for the food and beverage industry.
- However, factors such as limited production and price fluctuation of stevia leaf in the country are restraining the market growth of the region.
South America Stevia Industry Segmentation
The South American stevia market is segmented by form into powder, liquid, and leaf, and by application into bakery, dairy products, beverages, confectionery, dietary supplements, and other applications. Also, the study provides an analysis of the stevia market in the emerging and established markets across the South American countries, including Brazil, Argentina, and Rest of South America.
| Form | |
| Powder | |
| Liquid | |
| Leaf |
| Application | |
| Bakery | |
| Dairy Products | |
| Beverages | |
| Confectionery | |
| Dietary Supplements | |
| Other Applications |
| Geography | |
| Brazil | |
| Argentina | |
| Rest of South America |
South America Stevia Market Size Summary
The South American stevia market is experiencing significant growth, driven by the increasing demand for low-calorie sweeteners in the food and beverage sector. This demand is largely fueled by rising health concerns related to obesity and diabetes, prompting manufacturers to incorporate natural sweeteners like stevia into their products. The trend towards low-sugar beverages and functional foods, particularly in developing economies, is further boosting the market. However, challenges such as limited production and price fluctuations of stevia leaves pose constraints to market expansion. Consumer awareness and preference for clean label products are encouraging manufacturers to replace high-calorie polyols with natural alternatives, enhancing the appeal of stevia as a digestive-friendly sweetener.
Argentina holds a prominent position in the South American stevia market, driven by the country's focus on reducing sugar intake and promoting natural sweeteners. Government initiatives, such as the development of high-quality stevia production facilities and supportive legislation, are fostering regional economic growth and enhancing stevia's market presence. The competitive landscape is characterized by numerous domestic and multinational companies engaging in strategic activities like mergers, acquisitions, and new product launches to strengthen their market share. Key players such as Cargill Incorporated, Tate & Lyle PLC, and Archer Daniels Midland are actively participating in this dynamic market, with companies like Coca-Cola expanding their product offerings to include stevia-sweetened beverages.
South America Stevia Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Form
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2.1.1 Powder
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2.1.2 Liquid
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2.1.3 Leaf
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2.2 Application
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2.2.1 Bakery
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2.2.2 Dairy Products
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2.2.3 Beverages
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2.2.4 Confectionery
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2.2.5 Dietary Supplements
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2.2.6 Other Applications
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2.3 Geography
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2.3.1 Brazil
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2.3.2 Argentina
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2.3.3 Rest of South America
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South America Stevia Market Size FAQs
What is the current South America Stevia Market size?
The South America Stevia Market is projected to register a CAGR of 8.90% during the forecast period (2024-2029)
Who are the key players in South America Stevia Market?
Cargill, Incorporated , Tate & Lyle PLC, ADM, Glg Life Tech Corp. and Ingredion Incorporated are the major companies operating in the South America Stevia Market.
