Technavio's Stevia Market in North America Research Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers

Our research report on "Stevia Market in North America by Product and Geography - Forecast and Analysis 2022-2026" has extensively covered factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market share during the forecast period.

Stevia market share in North America report key highlights

• Estimated year-on-year growth rate: 7.74%
• Key market segments: Product (powder, liquid, and leaf) and geography (US, Canada, and Mexico
• Key Consumer Region & contribution: US at 83%

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Stevia market share in North America Trend

• Demand for organic, vegan, sugar-free, and gluten-free chocolates

The desire for flavored sweetener variations is rising, and this trend can be seen in the North American stevia market. As a result, many companies, including SweetLeaf, Nirvana Health Products, and others, are now selling flavored liquid stevia. SweetLeaf Stevia, for example, distributes liquid stevia in a variety of tastes, including caramel, coconut, and others. Nirvana Health Products, on the other hand, sells liquid stevia in a variety of tastes, including caramel, vanilla, cola, strawberry, mango, mint, and others. During the projected period, more prominent companies are expected to debut flavored liquid stevia solutions, which is expected to help the market's growth during the same period.

Stevia market share in North America Challenge

• Fluctuating prices of raw material

Coconut sugar, commonly known as coconut palm sugar, is an unprocessed natural sugar derived from the sap of coconut tree flower petals. It is touted as being more nutritious than ordinary sugar and having a lower glycemic index. It's also better for the environment than conventional cane sugar. As a result, chocolate confectioneries, bakery goods, snacks, and breakfast cereals are increasingly using coconut sugar as an ingredient. During the forecast period, the easy availability of these low-cost replacements is likely to pose a hindrance to the growth of the stevia market in North America.

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Key market vendors insights

The stevia market share in North America is fragmented, and the vendors are deploying various organic and inorganic strategies to compete in the market.

Some of the key market vendors are:

• Archer Daniels Midland Co.
• Cargill Inc.
• GLG Life Tech Corp.
• Ingredion Inc.
• PureCircle Ltd.
• Pyure Brands LLC
• S and W Seed Co.
• Steviva Brands Inc.
• Sunwin Stevia International Inc.
• Tate and Lyle Plc

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• Key Segment Analysis by Product
• Powder
• During the projected period, the powder stevia market in North America would expand at a rapid pace, owing to rising demand for low-calorie foods. Stevia powder, made from the sweet glycosides of stevia leaves, is widely used. By weight, it's about 200 to 300 times sweeter than sugar. The taste, sweetness, and cost of stevia extract powders vary depending on the degree of refinement and quality of the stevia plant. The aftertaste of some powder stevia extracts is stronger than others. When dissolved in liquid form, powder stevia is incredibly sweet and is used by the pinch or a drop. It comes in two varieties: white powder and green powder stevia.
•       
•     
• Liquid
• Leaf

Regional Market Analysis

US will contribute to 83% of the stevia market share in North America share growth during the forecast period. US, Canada, and Mexico are the major markets for stevia market share in North America.

The high demand for healthy food products with fewer calories along with the presence of key vendors in the US is expected to boost the stevia market share in North America in the region.

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