According to a recent report from Reports and Data, the global stevia market is expected to reach USD 1,344.06 million by 2030, with a revenue CAGR of 8.5% over the forecast period. The growth is being driven by the increasing demand for natural sweeteners in the beverage industry, as well as increased investments in RD in the food and beverage industry.
The stevia market is also benefiting from a growing public awareness regarding healthier sugar alternatives, as well as an increasing incidence of diabetes and obesity. As a high-intensity sweetener, stevia is 200 times sweeter than sucrose and can be used to develop low-calorie products. It is also a natural sweetener that does not have any harmful effects and is used in various food and beverage products, including instant beverages. Additionally, the rising demand for plant-based natural sweeteners is contributing to the growth of the market.
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Major Companies:
Cargill, Incorporated, Arboreal Stevia, Tate Lyle, PureCircle, GLG Life Tech Corp., Sunwin Stevia International Inc., SW Seed Co., Pyure Brands LLC, Morita Kagaku Kogyo Co., Ltd., and Layn Natural Ingredients.
Key Trends of Stevia Market
- Increasing demand for natural sweeteners: Stevia is a natural sweetener derived from the leaves of the stevia plant. With growing health-consciousness and a preference for natural ingredients, there has been a rising demand for stevia as a substitute for artificial sweeteners like aspartame and sucralose.
- Growing popularity in the food and beverage industry: Stevia has gained significant popularity in the food and beverage industry as a low-calorie sweetener. It is used in a wide range of products such as soft drinks, juices, yogurts, desserts, and baked goods.
- Rising prevalence of diabetes and obesity: With the increasing prevalence of diabetes and obesity worldwide, there is a greater focus on reducing sugar consumption. Stevia offers a sugar-free or low-sugar alternative without compromising on taste, making it appealing to individuals looking to manage their blood sugar levels and reduce calorie intake.
- Expansion of stevia product lines: As the demand for stevia continues to rise, companies are expanding their product lines to include various stevia-based products. This includes stevia extracts, liquid stevia drops, stevia-based tabletop sweeteners, and stevia-blended products.
The global Stevia market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Further market segmentation
Type Outlook (Revenue, USD Billion; 2019 – 2030)
- Reb A
- Reb M
- Reb D
- Others
Form Outlook (Revenue, USD Billion; 2019 – 2030)
- Extract Powder
- Liquid Extract
- Leaves
Application Outlook (Revenue, USD Billion; 2019 – 2030)
- Beverages
- Bakery Products
- Confectionery Products
- Dairy Products
- Cereal-Based Products
- Tabletop Sweeteners
- Pharmaceuticals
- Cosmetics
- Other Applications
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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