South America Stevia Market - Growth, Trends, and Forecasts (2017 - 2022)
Stevia, being a plant-based sweetening product native to South America, and it is high in demand as it consists of natural ingredients. It is protein-rich and has low or zero calorific value. These factors are collectively supporting the growth of Stevia market in South America. The South America Stevia market is expected to grow at a CAGR of XX.XX % during the period 2017-2022. Manufacturers are increasingly exploring alternative sweeteners which will enable a reduction in calorific content, without sacrificing the taste. The increasing awareness of the health benefits of low-calorie consumable products is a major catalyst.
The South America Stevia market has witnessed an uptick, owing to the increasing awareness of the health benefits of low-calorie consumable products. Stevia plant grows naturally in South America, giving the Stevia extract an upper hand in the natural sweetener market in the region. Moreover, encouraging government initiatives and growing consumer awareness is auguring positive signs for the growth of Stevia market. In South America, growing urbanization and changing lifestyles due to globalization are driving the demand or Stevia. With a growing number of diabetics and calorie-watching consumers, the demand for sugar alternatives has exhibited an unprecedented rise. The major threat is the availability of other low-calorie sweeteners. The growing sports nutrition product and health drink market would further boost the industry’s growth. The food & beverage, healthcare and personal care industries create opportunities for a prospering Stevia market.
The Stevia market is segmented by type into powder, liquid and leaf. It is widely used in the powdered form; hence, this segment is the biggest and the fastest-growing in the Stevia market. It is segmented by application into food, beverages and pharmaceuticals. Stevia is widely used in a variety of food products such as confectionery, dairy, baked foods, beverages, and dietary supplements, as it can be easily incorporated and imparts sweetness to the products, with very low calorie.
The South America Stevia market has been geographically segmented into Brazil, Argentina and others. Brazil is a major market in the region. In the past decade, there has been a rapid growth in the market in this region; South America is also projected to witness a sound growth through 2022. The region offers huge potential for Stevia extracts. Stevia leaves have been used for thousands of years in the South America cuisine; it was added as a sweetener to the food, as well as, used as a health tonic and treatment for high blood pressure, heartburn, gout and type II diabetes.
The market is highly fragmented due to the presence of numerous small and large vendors. Most of the companies engage in aggressive promotion of Stevia-based products to improve the product positioning and visibility. The demand for low-calorie beverages such as juices, flavored water, sports drinks, energy drinks, and soft drinks is driving the vendors to manufacture products that are not only unique and attractive but also healthy. This is leading to tough competition in the market with vendors competing regarding price, quality, product differentiation, distribution, and promotion.
Some of the major players in the market include-
GLG Life Tech Corp.
Tate & Lyle Plc.
Sunwin Stevia International Inc.
Key Deliverables in the Study
Market analysis for the South America Stevia market, with region-specific assessments and competition analysis on a regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a regional scale.
Extensively researched competitive landscape section with profiles of major companies, along with their market share.
Identification and analysis of the macro and micro factors that affect the South America Stevia market on a regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insight about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is growing and identify the regions that are still untapped.
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