The latest report by IMARC Group, titled “North America Stevia Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” finds that the North America stevia market size reached 2,635 Tons in 2019. Stevia, scientifically known as Stevia rebaudiana, is a nonnutritive sweetener that is used as a flavoring ingredient and natural sugar substitute. It is made from the highly refined stevia leaf extract, rebaudioside A (Reb-A). Stevia requires lower inputs of water, land and energy to produce the same amount of sweetness as compared to other sugar substitutes. Purified stevia leaf extracts are up to 250 to 300 times sweeter than sucrose. Owing to this, it is widely used by manufacturers in North America to reduce the energy and added sugar content in foods and beverages.
North America Stevia Market Trends:
According to the International Diabetes Federation Diabetes Atlas, an estimated 47.6 million adults aged 20-29 years were living with diabetes in the North America and Caribbean (IDF NAC) region in 2019, representing a regional prevalence of 13.3%. As a result of the increasing incidences of diabetes and other chronic diseases, there has been a rise in the demand for stevia, which does not accumulate in the body during metabolism and is, therefore, suitable for people with diabetes. Stevia also offers various health benefits, such as regulating blood pressure and lowering energy intake, which help in the reduction and prevention of obesity. The increasing obesity rates in the region and the consequent rise in health consciousness among people have encouraged them to opt for natural and naturally derived products, like stevia. Moreover, many companies are expanding their capacity to offer new-generation stevia sweeteners to consumers at affordable prices. Owing to these factors, the market is projected to reach a volume of 3,759 Tons by 2025, expanding at a CAGR of 6.1% during 2020-2025.
- Based on the extract type, the market has been segmented into powder, liquid and leaf. The powdered form of stevia is the most popular extract type sold in the region.
- On the basis of the end use, beverages represent the largest segment, accounting for the majority of the overall market share. Other major segments include food products, table-top sweeteners, pharmaceuticals and others.
- Country-wise, the United States holds the leading position in the market. Other major countries are Canada and Mexico.
- The competitive landscape of the market has also been examined with the detailed profiles of the key players operating in the industry.
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