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Latin America Stevia Market Trends, Analysis, Report: By Extract Type: Leaf, Powder, Liquid; By Application: Food and Beverages, Oral Care, Pharmaceuticals, Tabletop Sweetener, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032
Latin America Stevia Market Outlook
The Latin America stevia market attained a value of about USD 177.68 million in 2023. The market is further expected to grow at a CAGR of 10% between 2024 and 2032. The market is projected to reach nearly USD 419.46 million by 2032.
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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.
Properties and Applications
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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- Food and Beverages
- Dairy
- Oral Care
- Pharmaceutical
- Others
The report also covers the regional markets for stevia in the Latin America region like Brazil, Mexico, Argentina, Colombia, Chile, and Peru, among others.
Market Analysis
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.
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Competitive Landscape
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:
- PureCircle Limited
- Cargill, Incorporated
- Archer Daniels Midland Company
- Ingredion Incorporated
- Tate & Lyle PLC
- Others
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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Extract Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Latin America
7 Opportunities and Challenges in the Market
8 Global Stevia Market Overview
8.1 Key Industry Highlights
8.2 Global Stevia Historical Market (2018-2023)
8.3 Global Stevia Market Forecast (2024-2032)
8.4 Global Stevia Market by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Latin America Stevia Market Analysis
9.1 Key Industry Highlights
9.2 Latin America Stevia Historical Market (2018-2023)
9.3 Latin America Stevia Market Forecast (2024-2032)
9.4 Latin America Stevia Market by Extract Type
9.4.1 Leaf
9.4.1.1 Historical Trend (2018-2023)
9.4.1.2 Forecast Trend (2024-2032)
9.4.2 Powder
9.4.2.1 Historical Trend (2018-2023)
9.4.2.2 Forecast Trend (2024-2032)
9.4.3 Liquid
9.4.3.1 Historical Trend (2018-2023)
9.4.3.2 Forecast Trend (2024-2032)
9.5 Latin America Stevia Market by Application
9.5.1 Food and Beverages
9.5.1.1 Historical Trend (2018-2023)
9.5.1.2 Forecast Trend (2024-2032)
9.5.2 Oral Care
9.5.2.1 Historical Trend (2018-2023)
9.5.2.2 Forecast Trend (2024-2032)
9.5.3 Pharmaceuticals
9.5.3.1 Historical Trend (2018-2023)
9.5.3.2 Forecast Trend (2024-2032)
9.5.4 Tabletop Sweetener
9.5.4.1 Historical Trend (2018-2023)
9.5.4.2 Forecast Trend (2024-2032)
9.5.5 Others
9.6 Latin America Stevia Market by Country
9.6.1 Brazil
9.6.2 Argentina
9.6.3 Mexico
9.6.4 Colombia
9.6.5 Chile
9.6.6 Peru
9.6.7 Others
10 Regional Analysis
10.1 Brazil
10.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
10.2 Argentina
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Mexico
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Colombia
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Chile
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Peru
10.6.1 Historical Trend (2018-2023)
10.6.2 Forecast Trend (2024-2032)
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyer’s Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Value Chain Analysis
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 PureCircle Limited
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Tate & Lyle PLC
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Cargill Inc.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Archer Daniels Midland Company
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Ingredion Incorporated
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Others
14 Consumer Analysis
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Stevia Market: Key Industry Highlights, 2017 and 2027
2. Latin America Stevia Market: Key Industry Highlights, 2017 and 2027
3. Latin America Stevia Historical Market: Breakup by Extract Type (USD Million), 2018-2023
4. Latin America Stevia Market Forecast: Breakup by Extract Type (USD Million), 2024-2032
5. Latin America Stevia Historical Market: Breakup by Application (USD Million), 2018-2023
6. Latin America Stevia Market Forecast: Breakup by Application (USD Million), 2024-2032
7. Latin America Stevia Historical Market: Breakup by Country (USD Million), 2018-2023
8. Latin America Stevia Market Forecast: Breakup by Country (USD Million), 2024-2032
9. Latin America Historical Price Trends and Forecast 2018-2028
10. Latin America Stevia Market Structure
Key Questions Answered in the Report
The Latin America stevia market is expected to grow at a CAGR of nearly 10% in the forecast period of 2024-2032.
The Latin America stevia market is projected to reach USD 419.46 million by 2032.
The major drivers of the industry include rising disposable incomes, increasing population, the rising trend towards sugar reduction in foods and beverages, rising middle-class population, and the increasing demand from the personal care and cosmetics sectors.
The increase in consumer and manufacturer awareness is expected to be a key trend guiding the growth of the industry.
Brazil, Mexico, Argentina, Colombia, Chile, and Peru, among others, are the leading regions in the market.
The leading extract types of stevia in the market are leaf, powder, and liquid.
The significant application segments of the product in the industry are food and beverages, oral care, pharmaceutical, and tabletop sweetener, among others.
The leading players in the market are PureCircle Limited, Cargill, Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, Tate & Lyle PLC, Others.
Analyst Review
The Latin America stevia market attained a value of about USD 177.68 million in 2023 driven by rising health concern and consumer awareness about drinks with high sugar content and growing demand for dietary food. The market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 10%. The stevia market is projected to reach nearly USD 419.46 million by 2032.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on extract types, the Latin America market for stevia can be segmented into include leaf, powder, or liquid. On the basis of application, the industry can be divided into food and beverages, oral care, pharmaceutical, and tabletop sweetener, among others. The major regional markets for stevia are Brazil, Mexico, Argentina, Colombia, Chile, and Peru,, among others. The key players in the above industry include PureCircle Limited, Cargill, Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, Tate & Lyle PLC, Others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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