Latest News- Stevia Market in North America: Powder is expected to lead the Product segment during 2024-2028
The Stevia Market in North America is being driven by Health benefits associated with stevia
The Stevia Market in North America is expected to grow at a CAGR of 6.7% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 31.9 million. The North American stevia market is experiencing a surge in demand for flavored sweetener options. Notably, major players in this market, such as Wisdom Natural Brands with SweetLeaf Stevia and Nirvana Health Products, are responding to this trend by introducing a wide range of flavored liquid stevia offerings. These include popular choices like caramel, vanilla, and chocolate, as well as more diverse options such as peach, banana, hazelnut, butterscotch, cola, strawberry, mango, mint, and others. As this trend continues, it is anticipated that additional market participants will introduce their own flavored liquid stevia products, thereby fueling market growth in North America during the forecast period.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (Powder, Liquid, Leaf) Geography (North America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Stevia Market in North America Research Report
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The Stevia market in North America is experiencing significant growth due to the increasing demand for non-caloric sweeteners and sugar substitutes. Stevia, a plant-based sweetener, is gaining popularity as a zero-calorie alternative to sugar in various food and beverage applications, including dairy products, beverages, bakery, confectionery, and tabletop sweeteners. Stevia's sweetness intensity comes from its glycosides, making it an ideal sugar substitute for health-conscious consumers following diets and looking to reduce calorie intake and manage blood sugar levels. The market for Stevia-based products is thriving in the e-commerce sector, with both domestic and international brands offering a range of options from powdered Stevia to artificial sweeteners for various food and beverage applications.
The Stevia market in North America is experiencing significant growth due to the increasing demand for non-caloric sweeteners in various food and beverage applications. Stevia, a natural sweetener derived from the leaves of the Stevia rebaudiana plant, is gaining popularity as a sugar substitute in the region. This trend is being driven by the rising health consciousness among consumers, particularly those seeking to reduce their caloric intake and combat childhood obesity. Stevia's use is not limited to beverages, but also extends to dairy products, tabletop sweeteners, and convenience foods. The sugar substitutes market, which includes Stevia, is expected to grow steadily due to the increasing demand for low-calorie alternatives to sugar, aspartame, sucrose, dextrose, corn syrups, and other conventional sweeteners. The market for Stevia-sweetened hard candy, caramel, taffy, and confectionery items is also expanding. Despite the growth potential, the Stevia market faces challenges, such as regulatory approval processes and competition from established sweeteners. However, the health benefits associated with Stevia, including its zero calorie count and natural origin, make it an attractive alternative for food and beverage manufacturers. The market's growth is expected to continue, driven by consumer preferences for healthier options and the increasing demand for sugar substitutes in various food and beverage applications.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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