Stevia Market

Stevia Market witnessed USD 591 million in 2019, growing at a robust CAGR of 9.8% during forecast period.

Stevia Market Overview

Stevia is a sugar substitute natural sweetener derived from the stevia plant extracts which is widely used as a viable alternative sugary agent with low calories and no effect on blood sugar level. It is a natural and zero-sugar sweetener with a low glycaemic index which helps in managing blood sugar levels for diabetic patients. In addition to this, stevia control blood sugar and insulin levels to decrease both systolic and diastolic blood pressure. Stevia comprises of two types of steviol glycosides molecules named as Stevioside and Rebaudioside.

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Major Stevia Market Drivers

Growing health awareness among consumers regarding the consumption of healthy, low-calorie and sugar-free consumable food products is a key factor driving the growth of the global Stevia market. The other factors surging the growth of the global stevia market are increasing disposable income, changing lifestyle, and various government initiatives by multiple countries to minimize sugar intake to combat health issues among consumers. Moreover, the increasing organic food habits to mitigate the health issues related to the risk of diabetes, heart strokes, cardiovascular diseases, obesity, and LDL cholesterol among the end-users will further boost the global Stevia market.

The rising vegan population and sustainable food culture trend will further bolster the growth of the global Stevia market. Growing demand for natural ingredients and natural sugar substitutes among consumers will further increase the demand for stevia across the globe. However, the price variations in stevia leaf and some harmful side effects such as bloating, nausea, and gastric problems may hamper the global Stevia market.

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Based on extract type, the global stevia market is segmented into the whole leaf, powdered, and liquid. Whole leaf segment is predicted to grow at a faster CAGR over the forecast period owing to the growing demand among food and beverage manufacturers and processors across the globe.

Based on nature, the global stevia market is segmented into organic and Inorganic. Organic segment is expected to grow at a higher CAGR during the forecast period owing to the increasing popularity of health benefits. Moreover, organic Stevia incorporates no dosage of the fertilization to conserve sustainability and human health.

Based on application, the global Stevia market is segmented into dairy food products, bakery products, beverages, packaged food products, dietary supplements, confectionery products, snacks, tabletop sweeteners and others. Beverages segment is predicted to grow at a faster CAGR over the forecast period as it is widely used stevia ingredient as a natural sweetening agent in various beverages such as RTDs, juices, soft drinks, energy drinks, among others.

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Regional – Segment Analysis

Based on region, Asia-Pacific region is expected to grow at a faster CAGR rate over the forecast period owing to the increasing disposable income, along with the growing health consciousness among consumers. Moreover, the consumers are shifting towards low-calorie products and growing sugar-free diet options in the food industry will surge the demand of the stevia market in this region. Growing awareness among consumers regarding the products with lower sugar and lower calorie content will further drive the market growth in the Asia-Pacific region. Furthermore, an inclination of the marketing and promotional strategies is delivering proper usage of the Stevia-based products amongst the consumer base ,which will further fuel the stevia market in this region.

Top Market Players

Various notable players operating in the market include Cargill Inc., Ingredion Incorporated, PureCircle Ltd., Koninklijke DSM NV, Tate and Lyle Plc., Sunwin Stevia International, Inc., GLG Life Tech Corp, Evolva Holding SA Nemours & Co., Archer Daniels Midland Company, and Pyure Brands LLC, among others.

Key Developments: 

• • In 2019, Cargill Inc. signed a joint venture with Royal DSM and formed Avansya to start its new production facility for stevia sweeteners in the US. This commercial-scale fermentation facility will produce EverSweet which is zero-calorie stevia sweetener. In addition to this, both are companies planned to meet the growing demand for reduce calorie food and beverages among consumers.
  • In 2019, PureCircle Ltd. completed a supply agreement with Merisant to expand low and zero-calorie tabletop stevia sweeteners amongst the consumer base. Through this agreement, the company planned to deliver an extensive generation of the stevia sweetener ingredients such as Reb M.
  • In 2018, Sweegen and Ingredion Inc. launched a non-GMO Reb D sweetener extracted from the Stevia leaf extracts. The Secretary of State for Agriculture and Procurement (SEAB) has approved the Reb D to use as a table-top sweetener and used as a sweet ingredient in food industries. The Reb D already approved from Codex for steviol glycosides as a key molecule.

Segments covered in the Report:

The global Stevia market has been segmented based on extract type, nature, application, and regions. Based on extract type, the market is segmented whole leaf, powdered and liquid. Based on nature, the market is segmented Organic and Inorganic. Based on the application, the market is segmented Dairy Food Products, Bakery Products, Beverages, Packaged Food Products, Dietary Supplements, Confectionery Products, Snacks, Tabletop Sweeteners and Others.

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Key questions answered in this research report:

• • At what pace is the global Stevia market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Stevia market?
  • Which Extract Type generated maximum revenues in 2019 and identify the most promising Extract Type during the forecast period?
  • What are the various application areas of global Stevia market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Stevia Market by Extract Type

• • Whole Leaf
  • Powdered
  • Liquid

Global Stevia Market by Nature

• • Organic
  • Inorganic

Global Stevia Market by Application

• • Dairy Food Products
    • Ice Cream
    • Yogurt
    • Flavoured Milk
  • Bakery Products
    • Breads & Rolls
    • Biscuits & Cookies
    • Cakes & Pastries
    • Other Bakery Products
  • Beverages
    • Energy Drinks
    • Soft Drinks
    • Hot Drinks
    • Flavoured Drinks
    • Natural Sweetened Water
  • Packaged Food Products
    • Pickles
    • Jam
    • Sauce
    • Chilled Food Products
    • Nutritional Products
    • Frozen Food
  • Dietary Supplements
  • Confectionery Products
  • Snacks
  • Tabletop Sweeteners
  • Others

Global Stevia Market by Region

• • North America Stevia Market (Option 1: As a part of the free 25% customization)

    • North America Stevia Market by Extract Type
    • North America Stevia Market by Nature
    • North America Stevia Market by Application
    • US Stevia Market All-Up
    • Canada Stevia Market All-Up

  • Europe Stevia Market (Option 2: As a part of the free 25% customization)

    • Europe Stevia Market by Extract Type
    • Europe Stevia Market by Nature
    • Europe Stevia Market by Application
    • UK Stevia Market All-Up
    • Germany Stevia Market All-Up
    • France Stevia Market All-Up
    • Spain Stevia Market All-Up
    • Rest of Europe Stevia Market All-Up

  • Asia-Pacific Stevia Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Stevia Market by Extract Type
    • Asia-Pacific Stevia Market by Nature
    • Asia-Pacific Stevia Market by Application
    • China Stevia Market All-Up
    • India Stevia Market All-Up
    • Japan Stevia Market All-Up
    • Rest of APAC Stevia Market All-Up

  • RoW Stevia Market (Option 4: As a part of the free 25% customization)

    • RoW Stevia Market by Extract Type
    • RoW Stevia Market by Nature
    • RoW Stevia Market by Application
    • Brazil Stevia Market All-Up
    • South Africa Stevia Market All-Up
    • Saudi Arabia Stevia Market All-Up
    • UAE Stevia Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Stevia Market All-Up

Major Players Operating the Stevia (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Cargill Inc.
  • Ingredion Incorporated
  • PureCircle Ltd.
  • Koninklijke DSM NV
  • Tate and Lyle Plc.
  • Sunwin Stevia International, Inc.
  • GLG Life Tech Corp
  • Evolva Holding SA Nemours & Co
  • Archer Daniels Midland Company
  • Pyure Brands LLC