Latin America Stevia Market was worth USD 52.95 million in 2021 and is estimated to be growing at a CAGR of 8.6%, to reach USD 78 million by 2027
Overview:
The market is showcasing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rapid development in the nutrition industry. Stevia has an important place in the sweeteners segment due to its advantages like low-calorie and high protein. Stevia has its special flavor and sweetness which is about 200 to 350 times more than normal sugar. Several food & beverage companies use stevia to enhance the taste of products without adding calories. Thus, stevia will be seen as a business opportunity in the coming five years. Also, many multinational companies have started venturing into the production of various types of stevia.
The Latin America Stevia market is majorly driven by the growth in awareness of the health benefits of stevia and providing profitable margins to distributors. Also, rising product visibility in retail, as well as product availability, is expected to improve the demand for stevia-based products amongst consumers across the globe. Stevia creation being a complex method, procuring raw materials to get the final product is a major problem for companies in this market.
based on Extract Type
Whole Leaf
Powdered
Liquid
Based on Application
Dairy
Bakery & Confectionery
Table top Sweeteners
Beverages
Convenience Foods
Based on Form,
Dry
Liquid
Brazil
Mexico
Argentina
Key Players:
Nestlé S.A.
The Coca-Cola Company
PepsiCo Inc.
Cargill Inc.
Evolva Holding S.A.
PureCircle Ltd.
Stevia Corp.
Ingredion Inc.
GLG Life Tech Corp
Tate & Lyle Plc
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