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South America Stevia Market is segmented by Form into Powder, Liquid, and Leaf; by Application into Bakery, Dairy Products, Beverages, Confectionery, Dietary Supplements, and Other Applications; and by Geography.
South America Stevia Market is projected to grow at a CAGR of 8.9% during the forecast period.
The South America Stevia Market is segmented by Form into Powder, Liquid, and Leaf; and by Application into Bakery, Dairy Products, Beverages, Confectionery, Dietary Supplements, and Other Applications. Also, the study provides an analysis of the stevia market in the emerging and established markets across the South American countries, including Brazil, Argentina, and Rest of South America.
|Rest of South America|
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As health awareness is growing, most of the population thoroughly checks the label of a product before buying it, especially in developing economies like Brazil, Argentina, Chile, etc. This awareness among consumers has prompted manufacturers to undertake the replacement of high-calorie polyols with natural sweeteners. Sugar alcohols, such as sorbitol and maltitol are proven to be the cause of digestive problems, and thus, are being fast replaced by natural sweeteners stevia in the market. Clean Label has triggered the demand for natural sweeteners especially stevia, and both food and beverage producers have supported innovation and product launches by using stevia as a natural clean labeled sweetener. According to the Global Stevia Institute's internal survey, approximately 60% of Americans prefer low-calorie sugar alcohol in their food purchase decisions. Hence, companies are publicly committing to removing artificial sweeteners from at least some of their products.
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Argentina accounts for the highest share in the South American stevia market, owing to the significant increasing rate of overweight and obesity and the dietary guidance recommendations to reduce energy intake, particularly from sugars. According to a survey supported by the Global Stevia Institute in Argentina, the respondents preferred natural sweeteners, with stevia among the top choices in the country. Considering the growing demand for stevia globally, the government is also taking initiatives in utilizing the stevia sources in the country. The Government of Argentina has planned for elaboration in The Elaborated Missionary Bioproducts (Biomiel) plant located in the Posadas Industrial Park to produce stevia of very high quality, destined for the national markets, as well as for export. Also, the National Program for the Study, Promotion, and Development of Stevia introduced a new law in the country, aiming at the development of regional economies. The law declares the promotion, development of production, marketing, and research of stevia for the national interest.
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The South America stevia market is competitive in nature having a large number of domestic and multinational players competing for market share. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. For instance, in 2018, Coca-Cola launched Coke “Coca-Cola Life” sweetened with 100% stevia in New Zealand. The company is also planning to introduce this product in the South Pacific region in the upcoming years. Key players dominating the regional market include Cargill, Incorporated, Tate & Lyle PLC, Archer Daniels Midland, Glg Life Tech Corp., and Ingredion Incorporated among others
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.2.2 Dairy Products
5.2.5 Dietary Supplements
5.2.6 Other Applications
5.3.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Cargill, Inc.
6.3.2 Tate & Lyle PLC
6.3.3 Archer Daniels Midland Company
6.3.4 GLG Life Tech Corp.
6.3.5 Ingredion Incorporated
6.3.6 Tereos Pure Circle Solutions
6.3.7 HYET Sweet
7. MARKET OPPORTUNITIES AND FUTURE TRENDS