North America Stevia Market Comprehensive Analysis, Opportunity Assessment by 2028

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.

The North America Stevia Market is characterized by significant fragmentation, with numerous regional and local companies offering diverse solutions for businesses in this sector. Key players with a strong presence include Ingredion Incorporated, PureCircle, GLG Life Tech Corporation, ADM, and S&W Seed Company, among others. These companies are actively engaged in innovation and the development of new stevia products with enhanced taste profiles and qualities to attract new consumers and expand their North America Stevia Market reach within the region.

A growing consumer preference for healthy food options in North America is a significant driver for the North America Stevia Market. Increased awareness of the health benefits associated with natural sweeteners is fostering market growth. The rising prevalence of health conditions such as obesity, high blood pressure, and diabetes is leading consumers to seek more nutritious products, thereby creating new opportunities for stevia manufacturers. Furthermore, technological advancements in stevia processing and production methods are bolstering demand in North America. For example, in 2019, PureCircle developed and is expanding the use of a novel stevia leaf variety offering substantial advantages over previous generations. This carefully cultivated and field-tested variety yields greater quantities of high-quality, next-generation stevia ingredients, improving cost-effectiveness through increased output per leaf. Additionally, in the same year, PureCircle entered into a supply agreement with Merisant, a specialist in low- and zero-calorie tabletop sweeteners, ensuring Merisant's long-term access to premium stevia ingredients.

North America Stevia Market Introduction

The increasing incidence of diabetes and obesity is a key factor driving consumers in North America towards natural sweetening products like stevia. According to the International Diabetes Federation, the global number of people with diabetes is projected to rise from 415 million in 2015 to 641 million by 2040. Obesity, a prevalent condition linked to diabetes and other chronic diseases such as hypertension, metabolic syndrome, cardiovascular risk, and retinopathy, further fuels this shift. Health authorities across the region are emphasizing healthier lifestyles, including reduced calorie intake, particularly from added sugars. Recommendations from organizations like the World Health Organization (WHO) to decrease added sugar consumption are encouraging consumers to opt for natural sweeteners like stevia, which aids in weight management by reducing added sugar and calorie intake. Consequently, the increasing consumer inclination towards natural sweeteners is a significant growth driver for the North America Stevia Market.

The COVID-19 pandemic initially disrupted the North America Stevia Market in the early months of 2020 due to widespread business operation disruptions, including stevia production. The downturn in other food and beverage sectors also negatively impacted stevia demand. However, the pandemic subsequently led to significant shifts in consumer behavior, with increased awareness regarding healthy lifestyles. Consumers began substituting conventional ingredients with healthier alternatives, leading to a rise in demand for natural sweeteners like stevia. The growing preference for "no added sugar" and low-carbohydrate diets further amplified this demand. The pandemic witnessed a rapid increase in demand for low-sugar and immunity-boosting products as consumers sought ways to improve their overall health and well-being. This increased health consciousness and shift towards low-calorie or sugar-free foods due to the COVID-19 pandemic has had a positive impact on the North America Stevia Market.

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 – Company Profiles

• 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 

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Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights