Stevia Market

Stevia Market

Stevia Market Forecasts to 2028 – Global Analysis By Nature (Conventional, Organic), Application (Bakery & Confectionery, Other Applications), End User (Cosmetics Industry, Food & Beverage Industry) and By Geography

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Published: 2021 ID: SMRC20919

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Stevia Market is accounted for $664.86 million in 2020 and is expected to reach $1,499.37 million by 2028 growing at a CAGR of 10.7% during the forecast period. Consumer demand for natural sugar substitutes, changing lifestyles, large number of health benefits associated with its consumption, growing disposable incomes, and several initiatives undertaken by the governments of various countries to minimize sugar intake so as to combat health problems are the major factors propelling the market growth. However, fluctuation in stevia leaf prices and advances in extraction technologies and formulations are hampering the market growth.

Stevia is a natural sweetener extracted from the plant species called Stevia Rebaudiana which is a plant native to South America whose leaf extracts are naturally sweet and are used to sweeten food & beverages. Stevia has its unique taste profile and sweetness intensity, which is approximately 200 to 350 times greater than regular sugar. Commercially, stevia is a white powder composed of one or more intensely sweet glycosides derived from the leaves of stevia; it finds usage as a non-caloric sweetener. Stevia also contains a wealth of antioxidant compounds, including flavonoids, triterpenes, tannins, caffeic acid, kaempferol, and quercetin.

Based on extract type, the liquid segment is estimated to have a lucrative growth due to the increasing consumers prefer for liquid form of stevia to sweeten recipes. A few drops of the liquid stevia extract replace a teaspoon of cane sugar, which can be used for sweetening coffee, teas, and smoothies. Liquid stevia is available in several forms, such as syrups, resulting from boiling the leaves in water. The syrup is used to enhance the flavor of many foods. In addition, the commercial scale applications choose liquid stevia as they're concentrated, and really little quantity is required. Furthermore, the demand for alcohol-free liquid is growing at a greater pace within the segment, thus, further augmenting the market growth.

By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the growing awareness about healthy diet and increasing health consciousness among people across the region. Countries such as China, Japan, and South Korea are the major contributors for the market growth in the region. Moreover, the consumers are seeking simpler labels and natural ingredients as they become more conscious of their own nutrition. In addition, the growing awareness of weight control, obesity, and therefore the significance of eating a healthy diet is driving the demand for stevia-based products across the region.

Some of the key players profiled in the Stevia Market include Archer Daniels Midland Company, Cargill, Evolva Holding SA, GLG Life Tech Corporation, Ingredion Incorporated, Morita Kagakau Kogyo Co. Ltd, Purecircle Limited, Pyure Brands LLC, S&W Seed Company, Sunwin Stevia International, Inc, Tate & Lyle PLC, and Zhucheng Haotian Pharm Co. Ltd.
Natures Covered:

• Conventional
• Organic

Types Covered:
• Reb A
• Reb D
• Reb M

Extract Types Covered:
• Liquid
• Powder
• Whole Leaf

Distribution Channels Covered:
• Direct Sales
• Online
• Retail

Applications Covered:
• Bakery & Confectionery
• Convenience Foods
• Dairy Food Products
• Dietary Supplements
• Packaged Food Products
• Pharmaceuticals
• Snacks
• Table Top Sweeteners
• Other Applications

End Users Covered:
• Cosmetics Industry
• Food & Beverage Industry

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary          
2 Preface      
 2.1 Abstract          
 2.2 Stake Holders         
 2.3 Research Scope         
 2.4 Research Methodology        
  2.4.1 Data Mining        
  2.4.2 Data Analysis        
  2.4.3 Data Validation        
  2.4.4 Research Approach        
 2.5 Research Sources         
  2.5.1 Primary Research Sources       
  2.5.2 Secondary Research Sources       
  2.5.3 Assumptions        
3 Market Trend Analysis         

 3.1 Introduction         
 3.2 Drivers          
 3.3 Restraints         
 3.4 Opportunities         
 3.5 Threats          
 3.6 Application Analysis        
 3.7 End User Analysis         
 3.8 Emerging Markets         
 3.9 Impact of Covid-19         
4 Porters Five Force Analysis         
 4.1 Bargaining power of suppliers        
 4.2 Bargaining power of buyers        
 4.3 Threat of substitutes        
 4.4 Threat of new entrants         
 4.5 Competitive rivalry         
5 Global Stevia Market, By Nature        
 5.1 Introduction         
 5.2 Conventional         
 5.3 Organic          
6 Global Stevia Market, By Type         
 6.1 Introduction          
 6.2 Reb A          
 6.3 Reb D          
 6.4 Reb M          
7 Global Stevia Market, By Extract Type        
 7.1 Introduction         
 7.2 Liquid          
  7.2.1 Clear         
  7.2.2 Dark         
 7.3 Powder          
  7.3.1 Glycoside (40%-79%)       
  7.3.2 Glycoside (80% and above)       
  7.3.3 Stevia Blends        
 7.4 Whole Leaf         
8 Global Stevia Market, By Distribution Channel       
 8.1 Introduction         
 8.2 Direct Sales         
 8.3 Online          
 8.4 Retail          
9 Global Stevia Market, By Application        
 9.1 Introduction         
 9.2 Bakery & Confectionery        
 9.3 Convenience Foods         
 9.4 Dairy Food Products         
 9.5 Dietary Supplements        
 9.6 Packaged Food Products        
 9.7 Pharmaceuticals         
 9.8 Snacks          
 9.9 Table Top Sweeteners        
 9.10 Other Applications         
  9.10.1 Electrolyte Mixes        
  9.10.2 Medicinal Formulations       
10 Global Stevia Market, By End User        
 10.1 Introduction         
 10.2 Cosmetics Industry         
 10.3 Food & Beverage Industry        
11 Global Stevia Market, By Geography        
 11.1 Introduction         
 11.2 North America         
  11.2.1 US         
  11.2.2 Canada         
  11.2.3 Mexico         
 11.3 Europe          
  11.3.1 Germany         
  11.3.2 UK         
  11.3.3 Italy         
  11.3.4 France         
  11.3.5 Spain         
  11.3.6 Rest of Europe        
 11.4 Asia Pacific         
  11.4.1 Japan         
  11.4.2 China         
  11.4.3 India         
  11.4.4 Australia         
  11.4.5 New Zealand        
  11.4.6 South Korea        
  11.4.7 Rest of Asia Pacific         
 11.5 South America         
  11.5.1 Argentina        
  11.5.2 Brazil         
  11.5.3 Chile         
  11.5.4 Rest of South America       
 11.6 Middle East & Africa        
  11.6.1 Saudi Arabia        
  11.6.2 UAE         
  11.6.3 Qatar         
  11.6.4 South Africa        
  11.6.5 Rest of Middle East & Africa       
12 Key Developments          
 12.1 Agreements, Partnerships, Collaborations and Joint Ventures     
 12.2 Acquisitions & Mergers        
 12.3 New Product Launch        
 12.4 Expansions         
 12.5 Other Key Strategies        
13 Company Profiling          
 13.1 Archer Daniels Midland Company       
 13.2 Cargill          
 13.3 Evolva Holding SA         
 13.4 GLG Life Tech Corporation        
 13.5 Ingredion Incorporated        
 13.6 Morita Kagakau Kogyo Co. Ltd        
 13.7 Purecircle Limited         
 13.8 Pyure Brands LLC         
 13.9 S&W Seed Company        
 13.10 Sunwin Stevia International, Inc       
 13.11 Tate & Lyle PLC         
 13.12 Zhucheng Haotian Pharm Co. Ltd       

List of Tables           
1 Global Stevia Market Outlook, By Region (2019-2028) ($MN)      
2 Global Stevia Market Outlook, By Nature (2019-2028) ($MN)      
3 Global Stevia Market Outlook, By Conventional (2019-2028) ($MN)     
4 Global Stevia Market Outlook, By Organic (2019-2028) ($MN)      
5 Global Stevia Market Outlook, By Type (2019-2028) ($MN)      
6 Global Stevia Market Outlook, By Reb A (2019-2028) ($MN)      
7 Global Stevia Market Outlook, By Reb D (2019-2028) ($MN)      
8 Global Stevia Market Outlook, By Reb M (2019-2028) ($MN)      
9 Global Stevia Market Outlook, By Extract Type (2019-2028) ($MN)     
10 Global Stevia Market Outlook, By Liquid (2019-2028) ($MN)      
11 Global Stevia Market Outlook, By Clear (2019-2028) ($MN)      
12 Global Stevia Market Outlook, By Dark (2019-2028) ($MN)      
13 Global Stevia Market Outlook, By Powder (2019-2028) ($MN)      
14 Global Stevia Market Outlook, By Glycoside (40%-79%) (2019-2028) ($MN)    
15 Global Stevia Market Outlook, By Glycoside (80% and above) (2019-2028) ($MN)    
16 Global Stevia Market Outlook, By Stevia Blends (2019-2028) ($MN)     
17 Global Stevia Market Outlook, By Whole Leaf (2019-2028) ($MN)     
18 Global Stevia Market Outlook, By Distribution Channel (2019-2028) ($MN)    
19 Global Stevia Market Outlook, By Direct Sales (2019-2028) ($MN)     
20 Global Stevia Market Outlook, By Online (2019-2028) ($MN)      
21 Global Stevia Market Outlook, By Retail (2019-2028) ($MN)      
22 Global Stevia Market Outlook, By Application (2019-2028) ($MN)     
23 Global Stevia Market Outlook, By Bakery & Confectionery (2019-2028) ($MN)    
24 Global Stevia Market Outlook, By Convenience Foods (2019-2028) ($MN)     
25 Global Stevia Market Outlook, By Dairy Food Products (2019-2028) ($MN)    
26 Global Stevia Market Outlook, By Dietary Supplements (2019-2028) ($MN)    
27 Global Stevia Market Outlook, By Packaged Food Products (2019-2028) ($MN)    
28 Global Stevia Market Outlook, By Pharmaceuticals (2019-2028) ($MN)     
29 Global Stevia Market Outlook, By Snacks (2019-2028) ($MN)      
30 Global Stevia Market Outlook, By Table Top Sweeteners (2019-2028) ($MN)    
31 Global Stevia Market Outlook, By Other Applications (2019-2028) ($MN)     
32 Global Stevia Market Outlook, By Electrolyte Mixes (2019-2028) ($MN)     
33 Global Stevia Market Outlook, By Medicinal Formulations (2019-2028) ($MN)    
34 Global Stevia Market Outlook, By End User (2019-2028) ($MN)      
35 Global Stevia Market Outlook, By Cosmetics Industry (2019-2028) ($MN)     
36 Global Stevia Market Outlook, By Food & Beverage Industry (2019-2028) ($MN)    
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

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