South and Central America Stevia Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Whole Leaf, Powder, and Liquid) and Application (Dairy & Frozen Dessert, Bakery & Confectionery, Tabletop Sweetener, Beverages, and Others)
Market Introduction
The South and Central America stevia market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Stevia is now predominantly used to control calorie, carbohydrate, and sugar intake. Liquid stevia is used as an alternative for cane sugar in sweetening coffee, tea, and smoothies. Stevia is gaining traction in the beverage industry and being preferred by leading beverage manufacturers for strategic approaches such as innovation, artificial sweetener replacement, sugar moderation for kids, and cost savings. In 2017, Coca-Cola introduced a soft drink that included stevia. The coke containing stevia has less sugar and provides a unique taste. Various features of stevia such as zero calories, tooth-friendly, pH stable, non-fermenting, highly soluble, heat stable, and shelf-stable have increased the demand for stevia in the beverage industry. In a few instances, stevia can be applied as a flavor enhancer depending upon the type of beverage. Stevia can also be used for reducing the sugar levels in alcoholic beverages such as beer and cocktails. Thus, an increased application of stevia in the beverage industry is expected to drive the stevia market across the region.
In South and Central America, Brazil reported a huge number of COVID-19 cases, which led to the discontinuation of several business operations, including stevia production activities. Downfall of other food and beverages producing sectors negatively impacted the demand for stevia during the early months of 2020. However, the pandemic has been a reason for major shifts in consumer preferences with an increased awareness about having a healthy lifestyle. Consumers are substituting conventional ingredients with healthier alternatives, which is, in turn, increasing the demand for natural sweeteners such as stevia. An increase in the diet preference for no added sugars and low carbohydrates among consumers during the pandemic has led to an increase in the demand for stevia. During the pandemic, there has been rapid surge in demand for low sugar and immunity-boosting products due to which people are seeking solutions to improve their overall health and wellbeing. The COVID-19 pandemic has prompted customers to become health conscious and turn to low-calorie or sugar-free food. Hence, increasing health consciousness and high demand for sugar-reducing solutions among the populace of South and Central America has had a positive impact on the stevia market.
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Market Overview and Dynamics
The stevia market in South and Central America is expected to grow from US$ 75.82 million in 2021 to US$ 138.40 million by 2028; it is estimated to grow at a CAGR of 9.0% from 2021 to 2028. The various developments in stevia sweeteners have led to increased use of the ingredient in a variety of product categories. Stevia-containing products are gaining more importance by the consumers, which helps to drive product purchases. Additionally, players operating in the stevia market are focusing on expanding their manufacturing facilities to support their customers in the region. Such efforts and high investment by the key players helps food and beverage manufactures in creation of zero-added sugar and reduced-sugar products. Thus, all these factors supports for the growth of the market in South and Central America region.
Key Market Segments
Based on type, the powder segment accounted for the largest share of the South and Central America stevia market in 2020. Based on application, the beverages segment accounted for the largest share of the South and Central America stevia market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the South and Central America stevia market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Cargill, Incorporated; Ingredion Incorporated; Tate & Lyle PLC; the Archer-Daniels-Midland Company; Sunwin Stevia International, Inc.; S&W Seed Company and PureCircle.
Reasons to buy report
- To understand the South and Central America stevia market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for South and Central America stevia market
- Efficiently plan M&A and partnership deals in South and Central America stevia market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form South and Central America stevia market
- Obtain market revenue forecast for market by various segments from 2019-2028 in South and Central America region.
South and Central America Stevia Market Segmentation
South and Central America Stevia Market -By Type
- Whole Leaf
- Powder
- Liquid
South and Central America Stevia Market -By Application
- Dairy and Frozen Dessert
- Bakery and Confectionery
- Tabletop Sweetener
- Beverages
- Others
South and Central America Stevia Market – By Country
- Brazil
- Argentina
- Rest of South and Central America
South and Central America Stevia Market – Company Profiles
- Cargill, Incorporated
- Ingredion Incorporated
- Tate & Lyle PLC
- The Archer-Daniels-Midland Company
- Sunwin Stevia International, Inc.
- S&W Seed Company
- PureCircle
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country Level Data
4. South and Central America Stevia Market Landscape
4.1 Market Overview
4.2 Porter’s Analysis
4.2.1 Threat of New Entrants:
4.2.2 Bargaining Power of Buyers:
4.2.3 Bargaining Power of Suppliers:
4.2.4 Competitive Rivalry:
4.2.5 Threat of Substitutes:
4.3 Value Chain Analysis
4.4 Expert Opinion
5. Stevia Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Shift in the Preference of Consumer Towards Natural Sweeteners
5.1.2 Wide Application Scope of Stevia in Beverage Industry
5.2 Market Restraints
5.2.1 Frequent Changes in the Prices of Stevia Leaf
5.3 Market Opportunities
5.3.1 New Advancements in Stevia Market
5.4 Future Trend
5.4.1 Upgradation in the Taste of Stevia
5.5 Impact Analysis of Drivers and Restraints
6. Stevia Market – South and Central America Market Analysis
6.1 Stevia Market Overview
6.2 Stevia Market –Revenue and Forecast to 2028 (USD Million)
7. South and Central America Stevia Market Analysis – By Type
7.1 Stevia Market, By Type (2020 and 2028)
7.2 Whole Leaf
7.2.1 Overview
7.2.2 Whole Leaf: Stevia Market – Revenue and Forecast to 2028 (USD Million)
7.3 Powder
7.3.1 Overview
7.3.2 Powder: Stevia Market – Revenue and Forecast to 2028 (USD Million)
7.4 Liquid
7.4.1 Overview
7.4.2 Liquid: Stevia Market – Revenue and Forecast to 2028 (USD Million)
8. South and Central America Stevia Market Analysis – By Application
8.1 Overview
8.2 Stevia Market, By Application (2020 and 2028)
8.3 Dairy and Frozen Dessert
8.3.1 Overview
8.3.2 Dairy and Frozen Dessert: Stevia Market – Revenue and Forecast to 2028 (USD Million)
8.4 Bakery and Confectionery
8.4.1 Overview
8.4.2 Bakery and Confectionery: Stevia Market – Revenue and Forecast to 2028 (USD Million)
8.5 Tabletop Sweeteners
8.5.1 Overview
8.5.2 Tabletop Sweeteners: Stevia Market – Revenue and Forecast to 2028 (USD Million)
8.6 Beverages
8.6.1 Overview
8.6.2 Beverages: Stevia Market – Revenue and Forecast to 2028 (USD Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: Stevia Market – Revenue and Forecast to 2028 (USD Million)
9. South and Central America Stevia Market – Country Analysis
9.1 South & Central America: Stevia Market
9.1.1 South & Central America: Stevia Market, by Key Country
9.1.1.1 Brazil: Stevia Market – Revenue, and Forecast to 2028 (USD Million)
9.1.1.1.1 Brazil: Stevia Market, by Type
9.1.1.1.2 Brazil: Stevia Market, by Application
9.1.1.2 Argentina: Stevia Market – Revenue, and Forecast to 2028 (USD Million)
9.1.1.2.1 Argentina: Stevia Market, by Type
9.1.1.2.2 Argentina: Stevia Market, by Application
9.1.1.3 Rest of South & Central America: Stevia Market – Revenue, and Forecast to 2028 (USD Million)
9.1.1.3.1 Rest of South and Central America: Stevia Market, by Type
9.1.1.3.2 Rest of South & Central America: Stevia Market, by Application
10. Overview- Impact of Coronavirus Outbreak on South and Central America
10.1 Impact of COVID-19 on Stevia Market
10.2 South and Central America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Product Launch
11.3 Product News
11.4 Strategy and Business Planning
11.5 Merger and Acquisition
12. Company Profiles
12.1 Cargill, Incorporated.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Ingredion Incorporated
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Tate & Lyle PLC
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 The Archer-Daniels-Midland Company
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Sunwin Stevia International, Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 S&W Seed Company
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 PureCircle
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word IndexLIST OF TABLES
Table 1. South and Central America: Stevia Market –Revenue and Forecast to 2028 (USD Million)
Table 2. Brazil Stevia Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 3. Brazil Stevia Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 4. Argentina Stevia Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 5. Argentina Stevia Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 6. Rest of South and Central America Stevia Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 7. Rest of South and Central America Stevia Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 8. List of AbbreviationLIST OF FIGURES
Figure 1. South and Central America Stevia Market Segmentation
Figure 2. Stevia Market Segmentation – By Country
Figure 3. South and Central America Stevia Market Overview
Figure 4. Powder Segment Held Largest Share of South and Central America Stevia Market
Figure 5. Rest of South and Central America Held Largest Share of South and Central America Stevia Market
Figure 6. South and Central America Stevia Market, Industry Landscape
Figure 7. Porter’s Five Forces Analysis
Figure 8. Value Chain: Stevia Market
Figure 9. Expert Opinion
Figure 10. South and Central America Stevia Market Impact Analysis of Drivers and Restraints
Figure 11. South and Central America: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 12. Stevia Market Revenue Share, By Type (2020 and 2028)
Figure 13. Whole Leaf: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 14. Powder: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 15. Liquid: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 16. Stevia Market Revenue Share, By Application (2020 and 2028)
Figure 17. Dairy and Frozen Dessert: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 18. Bakery and Confectionery: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 19. Tabletop Sweeteners: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 20. Beverages: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 21. Others: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 22. South and Central America: Stevia Market, by Key Country – Revenue (2020) (USD Million)
Figure 23. South & Central America: Stevia Market Revenue Share, by Key Country (2020 and 2028)
Figure 24. Brazil: Stevia Market – Revenue, and Forecast to 2028 (USD Million)
Figure 25. Argentina: Stevia Market – Revenue, and Forecast to 2028 (USD Million)
Figure 26. Rest of South & Central America: Stevia Market – Revenue, and Forecast to 2028 (USD Million)
Figure 27. Impact of COVID-19 Pandemic in South and Central America- Cargill, Incorporated
- Ingredion Incorporated
- Tate & Lyle PLC
- The Archer-Daniels-Midland Company
- Sunwin Stevia International, Inc.
- S&W Seed Company
- PureCircle
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South and Central America stevia market.
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- Scrutinize in-depth South and Central America market trends and outlook coupled with the factors driving the South and Central America stevia market, as well as those hindering it
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