The new report by Expert Market Research titled, ‘Latin America Natural Sweeteners Market Report and Forecast 2021-2026’, gives an in-depth analysis of the Latin America natural sweeteners market, assessing the market based on its segments like types, distribution channels, applications and regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 520 million
- Forecast CAGR (2021-2026): 8.5%
- Forecast Market Size (2026): USD 849 million
The industry’s expansion was fueled by rising customer demand for zero-calorie products as a result of increased health consciousness.
Following the Asia Pacific and Europe, Latin America is a major natural sweetener market. It produces about 9% of the world’s stevia, making it a major player in the natural sweeteners business. Paraguay is one of the most important stevia producers in Latin America, accounting for more than three-quarters of the overall Latin American stevia market. Argentina and Brazil are the region’s other significant marketplaces.
Soft drinks are the most common use of stevia in Latin America, followed by sports nutrition and dairy. In Latin America and North America, the soft drinks and sports nutrition segments account for more than half of all stevia applications. Because the stevia plant is native to Paraguay and Brazil, there is an abundance of raw material available in the region for processing.
Industry Definition and Major Segments
Sweeteners are used to enhance the sweetness or palatability of food goods, as well as to extend the shelf life of the products to which they are added. Depending on the technique of creation, they can be natural or artificial. Plants or other natural sources, such as beehives, can provide them. Sweeteners are classified as low intensity sweeteners or high intensity sweeteners based on their intensity.
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Their major types are:
- Maple Syrup
- Raw Honey
- Coconut Sugar
Based on application, the market can be further categorised as:
- Canned foods
- Personal Care
The leading distribution channels for the distribution for the product are:
- Convenience stores
- Retail stores
- Online retailers
Major regional markets in Latin America:
The increased demand for low-calorie goods and beverages, particularly soft drinks, where stevia is utilised as a sugar alternative is driving the Latin American natural sweeteners market. The use of natural sweeteners in the production of various packaged foods and beverages has expanded as customers’ health concerns have grown.
The increased number of people suffering from ailments linked to sugar use, such as obesity and diabetes, has led to several government programmes aimed at discouraging sugar consumption, which is helping the market even more. By 2022, the Brazilian Ministry of Health hopes to reduce sugar consumption in a variety of processed foods by 144, 000 tonnes. As a step to raise awareness, governments in the region have put a front-of-pack warning regarding high sugar, salt, and fat content on numerous items in nations such as Chile, Peru, and Uruguay. Other countries in the region may use similar strategies to combat diseases linked to sugar consumption.
The growing popularity of sports and energy drinks is fueling the industry’s growth. Latin America and the Caribbean combined makes up the world’s largest beverage market, accounting for about 17.5 percent of total market share. The beverage industry in the region contributes USD 17.7 million in annual revenue. Low-calorie sweeteners are becoming more popular as a flavouring component in products such as cosmetics and toothpastes, assisting the natural sweeteners industry’s expansion throughout Latin America. Their use in the pharmaceutical industry has also grown, boosting market growth in the next years.
Key Market Players
The major players in the market are PureCircle, Cargill, Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, Tate & Lyle PLC and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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