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The Latin America stevia market is being aided by its growing stevia production. The region is the leading market for the natural sweetener after the Asia Pacific and Europe. Accounting for nearly 10% of the global output, the thriving Latin America stevia market is also driving the global market growth.
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The global stevia industry is projected to attain USD 787 million in 2026, growing at a CAGR of 8.6% in the forecast period of 2021-2026.
In Latin America, stevia finds the majority of its application in the soft drinks segment followed by the sports nutrition segment. The soft drinks and sports nutrition segments together account for over half the stevia applications in the Latin America and North America regions. Dairy is also emerging as a major application segment for the natural sweetener in the regions, accounting for over 12% of the stevia application. The Latin America stevia market is being aided by the abundance of raw material easily available for processing. The stevia plant is native to Brazil and Paraguay. Paraguay is the region’s largest producer of the natural sweetener. It accounts for over three-fourths of the total stevia production in Latin America. Paraguay is followed by Argentina and Brazil as the leading producers in the region.
The Latin America stevia market is being driven by the growing trend towards sugar reduction in foods and beverages due to increasing rates of type-2 diabetes and obesity occurrence. The growing consumer preference towards healthier food and beverages containing low or no sugar is aiding the industry for sugar-substitutes like stevia. The industry is gaining further impetus from the rising number of government regulations attempting to restrict the intake of sugar. These measures include a front-of-pack warning about high sugar, salt, and fat content on products in Latin America countries like Chile, Peru, and Uruguay. Other countries in the region are also expected to implement similar strategies to combat the growing number of sugar consumption-related diseases.
Stevia, a natural sweetener, produced by processing the leaves of Stevia rebaudiana, finds extensive application as a zero-calorie natural sweetener. It derives its sweetness from its active compounds called steviol glycosides. Stevia sweetener can be extracted as leaves, powder, or liquid. It is commonly used in the following sectors:
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The report also covers the regional markets for stevia in the Latin America region like Brazil, Argentina, Paraguay, and Colombia, among others.
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Globally, the stevia industry is driven by the growing health awareness about the adverse health impact of sugar consumption. The rising consumption of sugar-substitutes for dietary and health reasons is aiding the global industry growth of the natural sweeteners. The industry is also finding impetus in the rising preference of consumers for natural products as they are demanding natural sweeteners over artificial products.
With stevia finding the majority of its application in the carbonated drinks section in Latin America, the thriving beverage industry in the region is adding to the growth of the Latin America stevia market. The Latin America and Caribbean region, as a whole, represents a leading market for beverages with a 17.5% market share in the global industry. The beverage industry in the region generates an annual revenue of USD 17.7 million. The growing middle-class population in Latin America, leading to a rise in consumption of processed foods and RTD beverages, is further driving the Latin America stevia market. Since the consumers are becoming increasingly health conscious and are seeking out products with organic ingredients, the industry for the natural sweetener is expected to witness a healthy growth in the coming years. The rise in consumer and manufacturer awareness about the product is further pushing the Latin America stevia market forward.
The expanding application sectors for stevia is also driving the growth of the Latin America stevia market. It is finding extensive use in non-food sectors like the personal care and cosmetics section. Stevia is added to cosmetic products like lip balm and lipstick as a natural sweetener. The natural sweetener is also finding increasing use in the oral care sector in items like toothpaste and mouthwash.
The report provides a detailed insight into the following key players in the Latin America stevia market, covering their competitive landsacpe, capacity, and latest developments like plant turnarounds, capacity expansions, and mergers and acquisitions:
The EMR report looks into the manufacturing process and analyses the costs involved. The comprehensive report offers an overview of the other regional markets like North America, Europe, the Middle East and Africa, and the Asia Pacific. It also assesses the Latin America stevia market based on the Porter’s Five Forces Model. A SWOT analysis has been provided, as well.
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
2 Research Methodology
3 Executive Summary
3.1 Market Overview
3.2 Key Demand Drivers
3.3 Key Players
3.4 Supply Market Changes
4 Global Stevia Market Outlook
5 Global Stevia Market
5.1 Global Stevia Market Analysis
5.1.1 Figure: Global Stevia Historical Market (2016-2020) and Forecast (2021-2026)
5.1.2 Chart: Global Stevia Market Breakup by Extract Type
5.1.3 Chart: Global Stevia Market Breakup by Application
126.96.36.199 Food and Beverages
188.8.131.52 Oral Care
184.108.40.206 Tabletop Sweetener
5.1.4 Chart: Global Stevia Market Breakup by Region
220.127.116.11 North America
18.104.22.168 Asia Pacific
22.214.171.124 Middle East & Africa
6 Latin America Stevia Market
6.1 Latin America Stevia Market Analysis
6.1.1 Figure: Latin America Historical Market (2016-2020) and Forecast (2021-2026)
6.1.2 Chart: Latin America Stevia Market Breakup by Extract Type
6.1.3 Figure: Latin America Stevia Market Breakup by Extract Type: Historical Market (2016-2020) & Forecast (2021-2026)
6.1.4 Chart: Latin America Stevia Market Breakup by Application
126.96.36.199 Food and Beverages
188.8.131.52 Oral Care
184.108.40.206 Tabletop Sweetener
6.1.5 Figure: Latin America Stevia Market Breakup by Application: Historical Market (2016-2020) & Forecast (2021-2026)
220.127.116.11 Food and Beverages
18.104.22.168 Oral Care
22.214.171.124 Tabletop Sweetener
6.1.6 Chart: Latin America Stevia Market Breakup by Country
6.1.7 Figure: Latin America Stevia Market Breakup by Country: Historical Market (2016-2020) & Forecast (2021-2026)
6.2 SWOT Analysis
6.3 Value Chain Analysis
6.4 Porter’s Five Forces Analysis
6.4.2 Buyer’s Power
6.4.3 Supplier’s Power
6.4.4 New Entrants
6.4.5 Degree of Rivalry
7 Latin America Stevia Market Price Analysis
7.1 Brazil Historical Price Trends (2016-2020) & Forecast (2021-2026)
7.2 Argentina Historical Price Trends (2016-2020) & Forecast (2021-2026)
7.3 Paraguay Historical Price Trends (2016-2020) & Forecast (2021-2026)
7.4 Colombia Historical Price Trends (2016-2020) & Forecast (2021-2026)
8 Manufacturing Process
8.1 Detailed Process Flow
8.2 Operations Involved
8.3 Mass Balance
9 Cost Analysis
9.1 Land, Location and Site Development
9.3 Plant Machinery
9.4 Cost of Raw Material
9.9 Other Capital Investment
10 Competitive Landscape & Supplier Analysis
10.2 Cargill, Incorporated
10.3 Archer Daniels Midland Company
10.4 Ingredion Incorporated
10.5 Tate & Lyle PLC
11 Consumer Analysis
12 Industry Events and Developments
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