The North America Stevia Market would witness market growth of 7.4% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 2,255.41 tonnes, showcasing a growth of 11.3% (2020-2023).
In recent years, stevia sales through offline distribution channels have seen a steady upward trend, mirroring the growing consumer demand for natural sweeteners and healthier alternatives to sugar. Traditional brick-and-mortar stores such as supermarkets, grocery stores, and health food stores have been key players in driving these sales, leveraging their established presence and consumer trust to promote stevia products. Therefore, the US market would consume 2,434.27 tonnes of stevia through offline distribution channels by 2031.
The US market dominated the North America Stevia Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $276.5 million by 2031. The Canada market is experiencing a CAGR of 9.8% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 8.9% during (2024 - 2031).
The market has witnessed remarkable growth and evolution in recent years, driven by increasing consumer demand for natural, low-calorie sweeteners amid rising health consciousness and concerns about the adverse effects of sugar consumption. Stevia, derived from the leaves of the Stevia rebaudiana plant, has emerged as a popular alternative to traditional sugar and artificial sweeteners due to its natural origin, zero-calorie properties, and potential health benefits.
Additionally, as consumer consciousness regarding the detrimental health effects of excessive sugar intake, such as obesity, diabetes, and cardiovascular disease, has grown, stevia has gained significant traction as a sweetening agent. Health-conscious consumers increasingly seek alternatives to sugar and artificial sweeteners, driving the demand for natural, plant-based sweeteners like stevia. The adoption of stevia is further fueled by regulatory initiatives aimed at reducing sugar intake and promoting healthier dietary choices.
Canadians are becoming more conscious of the ingredients in their food and beverages, opting for products made with natural and minimally processed ingredients. As a plant-derived sweetener extracted from the leaves of the Stevia rebaudiana plant, stevia is perceived as a natural alternative to artificial sweeteners and high-fructose corn syrup. As per the data from the Government of Canada, in 2022, the food and beverage processing industry were the largest manufacturing industry in Canada in terms of production value, with sales of goods manufactured worth $156.5 billion. In 2022, processed food and beverage product exports reached a noteworthy $54.3 billion in value, reflecting a 14.1% growth compared to 2021. This figure accounted for 34.7% of the total value of production. Hence, North America’s rising food and beverage sector will boost the demand for stevia in the region.
Free Valuable Insights: The Stevia Market is Predict to reach USD 1.5 Billion by 2031, at a CAGR of 7.8%
Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Form, the market is segmented into Powder, Liquid, and Leaf. Based on End User, the market is segmented into Food & Beverages, Retail, Pharmaceuticals, and Others. Based on Type, the market is segmented into Reb A, Reb M, and Reb D. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Distribution Channel (Volume, Tonnes, USD Billion, 2020-2031)
By Form (Volume, Tonnes, USD Billion, 2020-2031)
By End User (Volume, Tonnes, USD Billion, 2020-2031)
By Type (Volume, Tonnes, USD Billion, 2020-2031)
By Country (Volume, Tonnes, USD Billion, 2020-2031)
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