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
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.
• Reb A
• Reb D
• Reb M
Extract Types Covered:
• Whole Leaf
Distribution Channels Covered:
• Direct Sales
• Bakery & Confectionery
• Convenience Foods
• Dairy Food Products
• Dietary Supplements
• Packaged Food Products
• Table Top Sweeteners
• Other Applications
End Users Covered:
• Cosmetics Industry
• Food & Beverage Industry
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
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