South America Stevia Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The South American 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 Size

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South America Stevia Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 8.90 %
Market Concentration High

Major Players

South America Stevia Market

*Disclaimer: Major Players sorted in no particular order


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South America Stevia Market Analysis

The South American stevia market is projected to record a CAGR of 8.9% during the forecast period.

  • The market is driven by the increasing demand for low-calorie sweeteners from food and beverage manufacturers, which has increased from the past few years. This is primarily due to the rising concern of obesity and diabetes across the region. Therefore, many key players in food and beverages are introducing the products with natural low-calorie sweeteners, mainly stevia. In addition, the rising consumer demand from developing economies toward low-sugar beverages and functional foods is boosting the demand for stevia for the food and beverage industry.
  • However, factors such as limited production and price fluctuation of stevia leaf in the country are restraining the market growth of the region.

South America Stevia Market Trends

This section covers the major market trends shaping the South America Stevia Market according to our research experts:

Increasing Consumer Inclination Toward Clean Label Stevia

As health awareness is growing, most of the population thoroughly check 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 label 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.

South America Stevia Market1

Argentina to Drive the South American Market

Argentina accounts for the largest share in the South American stevia market, owing to the significant increasing rate of obesity and 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, production, marketing, and research of stevia for the national interest.

South America Stevia Market2

South America Stevia Industry Overview

The South American stevia market is competitive in nature, having a large number of domestic and multinational players competing for market shares. Emphasis is given on mergers, expansions, acquisitions, and partnerships among the companies, along with new product development as a strategic approach 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.

South America Stevia Market Leaders

  1. Cargill, Incorporated

  2. Tate & Lyle PLC

  3. ADM

  4. Glg Life Tech Corp.

  5. Ingredion Incorporated

*Disclaimer: Major Players sorted in no particular order

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South America Stevia Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 Form

      1. 5.1.1 Powder

      2. 5.1.2 Liquid

      3. 5.1.3 Leaf

    2. 5.2 Application

      1. 5.2.1 Bakery

      2. 5.2.2 Dairy Products

      3. 5.2.3 Beverages

      4. 5.2.4 Confectionery

      5. 5.2.5 Dietary Supplements

      6. 5.2.6 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Brazil

      2. 5.3.2 Argentina

      3. 5.3.3 Rest of South America


    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Cargill Inc.

      2. 6.3.2 Tate & Lyle PLC

      3. 6.3.3 Archer Daniels Midland Company

      4. 6.3.4 GLG Life Tech Corp.

      5. 6.3.5 Ingredion Incorporated

      6. 6.3.6 Tereos Pure Circle Solutions

      7. 6.3.7 HYET Sweet

    4. *List Not Exhaustive

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South America Stevia Industry Segmentation

The South American 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.

Dairy Products
Dietary Supplements
Other Applications
Rest of South America
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South America Stevia Market Research FAQs

The South America Stevia Market is projected to register a CAGR of 8.90% during the forecast period (2024-2029)

Cargill, Incorporated , Tate & Lyle PLC, ADM, Glg Life Tech Corp. and Ingredion Incorporated are the major companies operating in the South America Stevia Market.

The report covers the South America Stevia Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Stevia Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

South America Stevia Industry Report

Statistics for the 2024 South America Stevia market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Stevia analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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South America Stevia Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)