Market Size of South America Stevia Industry
| 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
*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.
