The Stevia Market in North America is expected to grow from US$ 122.83 million in 2021 to US$ 212.38 million by 2028; it is estimated to grow at a CAGR of 8.1% from 2021 to 2028.
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The List of Companies
Cargill, Incorporated
Ingredion Incorporated
Tate & Lyle PLC
GLG Life Tech Corp
The Archer-Daniels-Midland Company
S&W Seed Company
Morita Kagaku Kogyo Co., Ltd.
PureCircle
Several domestic and international companies have a strong foothold in the North American region. Key market players present in the North America stevia market include Ingredion Incorporated, PureCircle, GLG Life Tech Corporation, ADM, S&W Seed Company, and others. These companies are constantly working towards innovation and new product developments of stevia with improved tastes and qualities to attract new consumers and widen the consumer base in the region.
North America Stevia Market Segmentation
North America Stevia Market -By Type
Whole Leaf
Powder
Liquid
North America Stevia Market -By Application
Dairy and Frozen Dessert
Bakery and Confectionery
Tabletop Sweetener
Beverages
Others
North America Stevia Market – By Country
US
Canada
Mexico
North America Stevia Market: A Landscape of Innovation and Health-Conscious Consumers
The North American stevia market is dynamic and competitive, featuring key players like Ingredion, PureCircle, GLG Life Tech, ADM, and S&W Seed Company. These companies are driving growth through continuous innovation, developing stevia products with improved taste and quality to expand their consumer base.
A significant driver of this market is the growing health consciousness among North American consumers. Increased awareness of the health benefits of natural sweeteners like stevia, coupled with rising rates of obesity, high blood pressure, and diabetes, is fueling demand. This shift towards healthier eating habits creates substantial opportunities for stevia manufacturers.
Technological advancements in stevia processing and production are also pivotal. For instance, PureCircle's development of a new stevia leaf variety in 2019, yielding greater quantities of high-quality stevia ingredients, significantly improves cost-effectiveness. Furthermore, their partnership with Merisant ensures a stable supply of premium stevia for low- and zero-calorie sweeteners.
Market Dynamics: Health, Diabetes, and Consumer Shifts
The North American stevia market is highly fragmented, with numerous regional and local players. The increasing prevalence of diabetes and obesity is a major catalyst for market growth. The International Diabetes Foundation predicts a surge in diabetes cases globally, and obesity, a significant contributor to chronic diseases, is a widespread concern. Public health organizations, like the WHO, are advocating for reduced sugar intake, driving consumers towards natural sweeteners like stevia for weight management and calorie reduction. The demand for "no added sugar" and low-calorie products is steadily rising.
COVID-19 Impact and Accelerated Health Trends
The COVID-19 pandemic initially disrupted the North American stevia market, with business operations, including stevia production, facing interruptions. However, the pandemic also accelerated a significant shift in consumer preferences. Increased health awareness has led to a surge in demand for natural sweeteners like stevia as consumers seek healthier alternatives. The focus on low-sugar, low-carbohydrate, and immunity-boosting products has intensified, positively impacting the stevia market. Consumers are now more inclined towards low-calorie and sugar-free options, driving the demand for stevia as a key ingredient in health-conscious products.
Key Improvements in the Rewrite:
Stronger Opening: The rewrite begins with a more impactful introduction, highlighting the market's dynamism and key drivers.
Concise Language: Redundant phrases and lengthy sentences have been streamlined for better readability.
Logical Flow: Information is presented in a more organized and coherent manner, making it easier to follow.
Emphasis on Key Points: The rewrite emphasizes the core drivers of the market, such as health consciousness, technological advancements, and the impact of the pandemic.
Active Voice: The use of active voice enhances clarity and engagement.
Integrated Information: information regarding the pandemic is woven into the market dynamics section to show the before and after effects, rather than being a stand alone section.
Summarized data: The data points have been summarized to keep the text more readable, while still keeping the key information.
This revised version provides a more compelling and easily digestible overview of the North American stevia market.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights