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North America Stevia Market to Grow at a CAGR of 10.5% between 2022 and 2027

According to a new report by EMR titled, ‘North America Stevia Market Report and Forecast 2022-2027’, the North America stevia market attained a value of nearly USD 218.45 million in 2021. It is further estimated to grow at a CAGR of 10.5% in the forecast period of 2022-2027.

The North America stevia market is one of the leading stevia markets globally. Within North America, the US has emerged as a leading stevia market owing to an increased demand for natural sweeteners in the country. The US stevia output, in 2018, recorded an increase of 12% in comparison to the previous year. The stevia market has gained a boost from an increasing demand for sugar substitutes in the food and beverage sector. The soft drinks segment lead in the stevia application in North America. Soft drinks, being a leading sector in both the North America and Latin America stevia markets, account for over 30% of stevia application in these two regions. The increasing cases of diabetes and obesity in North America, along with the strict government regulations on the use of sugar, are further propelling the market growth.

Due to the growing innovations, the North America stevia market has witnessed a healthy growth. The leading companies are incorporating Reb M based stevia sweeteners in their products due to their superior taste and zero-calorie content. In North and Latin America, as soft drinks lead in stevia application, their growing popularity provides a further boost to the stevia market with major beverage companies like Coca Cola (NYSE: KO) introducing diet drinks with stevia as the sweetener. In 2018, Tate & Lyle PLC (LON: TATE) launched its first premium Reb M stevia sweetener, TASTEVA® M Stevia Sweetener, providing a natural alternative to sugar and, thus, allowing for new innovations in the food and beverage sector.

Market Breakup by Extract Type, Application, and Region:

  • On the basis of extract type, stevia can be divided into leaf, powder, and liquid form.
  • Food and beverages, pharmaceutical, oral care, and tabletop sweetener, among others, are the common application sectors for stevia.
  • The United States of America and Canada, among others, are the major regional markets in the North America stevia market.

Key Findings of the Report:

  • The increase in the demand for low-calorie products due to rising health concerns among the consumers is propelling the stevia market forward.
  • The steps taken by the government to reduce sugar consumption level is further propelling the North America stevia market.
  • With the increasing popularity of energy drinks in the beverage sector, the companies are producing stevia-based products due to their low-calorie content, which is propelling the market forward.
  • The reduction in the consumption of artificial products with the introduction of natural products is driving the market growth.

Key Offerings of the Report:

  • The EMR report gives a detailed analysis of the extract type, application, and regions for the North America stevia market for the periods (2017-2021) and (2022-2027). 
  • The report gives an in-depth analysis of the regional historical (2017-2021) and forecast (2022-2027) price trends of stevia.
  • The report provides an assessment of the market based on the Porter’s Five Forces model along with a SWOT and value chain analysis.

The major players in the North America stevia market are PureCircle, Cargill, Incorporated, Archer-Daniels-Midland Company, Ingredion Incorporated, GLG Life Teach Corporation, Tate & Lyle, Stevia First Corporation and Sweegen, among others. The report provided by EMR covers the market share, capacity, and latest developments like mergers and acquisitions of the major players, along with their plant turnarounds and capacity expansion.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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