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Global Stevia Market- By Product Form (Powder, Liquid, Leaf), By Application (Bakery, Dairy Food Products, Beverages, Dietary Supplements, Confectionery, Others) and By Region (North America, Europe, Asia Pacific, South America, Middle East, & Africa)- Global forecast from 2022-2030.
Global Stevia market Overview:
The global stevia market is estimated to reach USD 14.7 billion by 2030, growing at a CAGR of 10.2% during the forecast period of 2022-2030. It was valued at USD 8.2 billion in 2022. Stevia is a perennial herb plant that is 30.5–80 cm in height. Stem erect, base woody, soft upper part, densely short-hairy, corolla base light purple-red or white, upper part white. Achenes linear, slightly flattened, brown, crested. This species grows in a warm and humid environment and is sensitive to light. The leaf contains 6-12% inulin, and the exceptional product is a white powder. It is a low-calorie, high- sweetness natural sweetener. It is one of the raw materials in the food and pharmaceutical industries. Stevia is a plant with keen light sensitivity and has an optimal growth period is 100-120 days.Global Stevia market Insights
The stevia market has captured the demand based on rising per capita consumption of zero-calorie beverages and innovative stevia products that are cost-effective and healthy. The high growth potential of emerging markets and untapped areas provides new growth opportunities for market participants. Stevia has become popular in many countries due to its zero glycemic index and zero calories. Moreover, stevia can assist in the treatment of hypertension and hyperglycemia, and its mechanism of action is similar to that of calcium ion blockers in western medicine. Patients with hypertension can brew stevia as a tea drink and as a health drink to help lower blood pressure. It is also suitable for patients with obesity, diabetes, hypertension, arteriosclerosis, and dental caries. Furthermore, due to strong market demand, coupled with the level of obesity and diabetes continues to rise, calorie intake and consumption of healthy food and beverages have been widely recognized and valued. The high-intensity sweetener provides sugar with about 300 times the power of the sweetener without adding any calories. Therefore, due to its versatility, it is widely used as a top-sweet sweetener. Stevia increasingly recognized as an ingredient in finished products, mainly soft drinks.Growth Driver
Healthy ingredient
Stevia is considered a healthy natural sweetener with zero calories and, thus, found as healthy ingredients. In many countries, people are consuming in their diet for centuries, and due to its magical properties, it is highly recommended and initiate high demand in the global stevia market. Many soft drinks companies like Pepsi, Coca-cola are using stevia in their cold drinks, vitamin water, etc.Various application
The stevia plant widely used as medicine and diet. It is commonly used as a flavoring agent to correct the odor and strange smell of certain drugs and to use it as an adjunct to tablets, pills, capsules. Moreover, the stevia residue not only has a very high organic content but also contains a few amounts of minerals such as calcium and magnesium, which can be used as a natural fertilizer to improve the soil.By Product forms Segmental Analysis
Based on product forms, the global stevia market segmented into Powder, Liquid, Leaf. The liquid form of the stevia segment has dominated the market share of the global stevia market. It is owing to its natural sweetener property widely used in soft drinks companies, a pharmaceuticals company. Moreover, it commonly applies to make sweet food for obese patients, stevia beverages, or stevia candies for children, which can prevent overweight people from gaining weight childhood obesity. Therefore, the liquid forms highly recommended by people, thus propel the market demand for the global stevia market.By Application Segmental Analysis
Based on the Application, the global stevia market classified into Bakery, Dairy Food Products, Beverages, Dietary Supplements, Confectionery, Others. The beverages segment has bolstered the market share for the global stevia market. The stevia used as needed in foods and beverages, becoming a sweetener with the same safety level as sucrose. Sucrose also contains high calories and is the number one killer of human health. Sucrose is the root cause of many diseases such as obesity, diabetes, fatty liver, and heart disease. However, the advantages of stevia are incomparable with sucrose. Using steviol glycosides instead of sucrose to process foods and beverages is not only more beneficial to the health of the body, but also meets the requirements of foods and drinks to develop low sugar gradually.Region Segmental Analysis
Based on geography, the global stevia market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific has dominated the market demand for global stevia. The future of the stevia industry will increase demand for convenience foods, low-calorie drinks, and tabletop sweeteners, coupled with changing lifestyles, will increase demand for stevia in India and other developing economies in Asia. With the increase of disposable income and the tendency to western eating habits, more users are willing to spend on new stevia products and add sugar substitutes such as stevia to sweets.Competitor Analysis
Companies such as Evolva Holding S.A., Stevia Corporation, Cargill Inc., Ingredion Incorporated, PureCircle Ltd., The Coca-Cola Company, Tate & Lyle plc, Pepsico Inc., GLG Life Tech Corp. and Stevia First Corporation and others are the key players in global stevia market.Key Stakeholders
- Market research and consulting firms
- Industry associations
- Global stevia manufacturing companies
- Research organizations and consulting companies
- Organizations, associations, and alliances related to stevia
- Regulatory bodies
Scope of the report
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 610 million |
| Revenue forecast in 2027 | USD 985 million |
| Growth Rate | CAGR of 7.65% from 2020 to 2027 |
| Historical data | 2017-2019 |
| Forecast period | 2021 – 2027 |
| Region covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Key companies Profiled | Ingredion Incorporated, PureCircle Ltd., Pepsico Inc., The Coca-Cola Company, Tate & Lyle plc, Evolva Holding SA, Stevia Corporation, Cargill Inc., GLG Life Tech Corp and Stevia First Corporation and others. |
Recent Developments
- In September 2021, Ingredion entered a supply agreement with S&W Seed company for US stevia production.
- In September 2021, Pure circle collaborated with Synergy flavors to create a range of zero sugar tonics sweeteners extracted from RebMstevia.
- In July 2021, Tereos signed a strategic sourcing agreement with Swiss flavor house Firmenich for stevia extracts to offer its customers traceable stevia-based sweetening solutions globally.
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Market Modelling
By Product Form- Powder
- Liquid
- Leaf
- Dairy Food Products
- Beverages
- Dietary Supplements
- Confectionery
- Others
- Bakery
- Europe
- North America
- Asia Pacific
- South America
- Middle East & Africa
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Report Content
- Research Strategic Development
1.1. Market Modelling
1.2. Product Analysis
1.3. Market Trend and Economic Factors Analysis
1.4. Market Segmental Analysis
1.5. Geographical Mapping
1.6. Country Wise Segregation
- Research Methodology
2.1. Identification of Target Market
2.2. Data Acquisition
2.3. Refining of Data/ Data Transformations
2.4. Data Validation through Primary Techniques
2.5. Exploratory Data Analysis
2.6. Graphical Techniques/Analysis
2.7. Quantitative Techniques/Analysis
2.8. Visual Result/Presentation
- Executive Summary
- Market Insights
4.1. Supply Chain Analysis
4.2. Economic Factor Analysis
4.2.1. Drivers
4.2.2. Trends
4.2.3. Opportunities
4.2.4. Challenges
4.3. Technological Landscape
4.4. Competitors & Product Analysis
4.5. Regulatory Framework
4.6. Company market share analysis, 2022
4.7. Porter’s Five forces analysis
4.8. Price point analysis
4.9. New Investment Analysis
4.10. PESTEL Analysis
- Global Stevia Market Overview
5.1. Market Size & Forecast,2017-2030
5.1.1. Demand
5.1.1.1. By Value (USD Billion)
5.2. Market Share & Forecast, 2017-2030
5.2.1. By Product Form
5.2.1.1. Powder
5.2.1.2. Liquid
5.2.1.3. Leaf
5.2.2. By Application
5.2.2.1. Bakery
5.2.2.2. Dairy Food Products
5.2.2.3. Beverages
5.2.2.4. Dietary Supplements
5.2.2.5. Confectionery
5.2.2.6. Others
5.2.3. By Region
5.2.3.1. North America
5.2.3.2. Europe
5.2.3.3. Asia-Pacific
5.2.3.4. South America
5.2.3.5. The Middle East & Africa
- North America Stevia Market Overview
6.1. North America Stevia Market Size & Forecast,2017-2030
6.1.1. Demand
6.1.1.1. By Value (USD Billion)
6.2. Market Share & Forecast, 2017-2030
6.2.1. By Product Form
6.2.1.1. Powder
6.2.1.2. Liquid
6.2.1.3. Leaf
6.2.2. By Application
6.2.2.1. Bakery
6.2.2.2. Dairy Food Products
6.2.2.3. Beverages
6.2.2.4. Dietary Supplements
6.2.2.5. Confectionery
6.2.2.6. Others
6.2.3. By Country
6.2.3.1. US
6.2.3.2. Canada
6.2.3.3. Mexico
6.2.4. Company Market Share (Top 3-5)
6.2.5. Economic Impact Study on North America Stevia Market
- Europe Stevia Market Overview
7.1. Europe Stevia Market Size & Forecast,2017-2030
7.1.1. Demand
7.1.1.1. By Value (USD Billion)
7.2. Market Share & Forecast, 2017-2030
7.2.1. By Product Form
7.2.1.1. Powder
7.2.1.2. Liquid
7.2.1.3. Leaf
7.2.2. By Application
7.2.2.1. Bakery
7.2.2.2. Dairy Food Products
7.2.2.3. Beverages
7.2.2.4. Dietary Supplements
7.2.2.5. Confectionery
7.2.2.6. Others
7.2.3. By Country
7.2.3.1. Germany
7.2.3.2. UK
7.2.3.3. France
7.2.3.4. Italy
7.2.3.5. Rest of Europe
7.2.4. Company Market Share (Top 3-5)
7.2.5. Economic Impact Study on Europe Stevia Market
- Asia-Pacific Stevia Market Overview
8.1. Asia-Pacific Stevia Market Size & Forecast,2017-2030
8.1.1. Demand
8.1.1.1. By Value (USD Billion)
8.2. Market Share & Forecast, 2017-2030
8.2.1. By Product Form
8.2.1.1. Powder
8.2.1.2. Liquid
8.2.1.3. Leaf
8.2.2. By Application
8.2.2.1. Bakery
8.2.2.2. Dairy Food Products
8.2.2.3. Beverages
8.2.2.4. Dietary Supplements
8.2.2.5. Confectionery
8.2.2.6. Others
8.2.3. By Country
8.2.3.1. India
8.2.3.2. Japan
8.2.3.3. Australia
8.2.3.4. Rest of Asia Pacific
8.2.4. Company Market Share (Top 3-5)
8.2.5. Economic Impact Study on Asia Pacific Stevia Market
- South America Stevia Market Overview
9.1. South America Stevia Market Size & Forecast,2017-2030
9.1.1. Demand
9.1.1.1. By Value (USD Billion)
9.2. Market Share & Forecast, 2017-2030
9.2.1. By Product Form
9.2.1.1. Powder
9.2.1.2. Liquid
9.2.1.3. Leaf
9.2.2. By Application
9.2.2.1. Bakery
9.2.2.2. Dairy Food Products
9.2.2.3. Beverages
9.2.2.4. Dietary Supplements
9.2.2.5. Confectionery
9.2.2.6. Others
9.2.3. By Country
9.2.3.1. Brazil
9.2.3.2. Argentina
9.2.3.3. Rest of South America
9.2.4. Company Market Share (Top 3-5)
9.2.5. Economic Impact Study on South America Stevia Market
- The Middle East & Africa Stevia Market Overview
10.1. The Middle East & Africa Stevia Market Size & Forecast,2017-2030
10.1.1. Demand
10.1.1.1. By Value (USD Billion)
10.2. Market Share & Forecast, 2017-2030
10.2.1. By Product Form
10.2.1.1. Powder
10.2.1.2. Liquid
10.2.1.3. Leaf
10.2.2. By Application
10.2.2.1. Bakery
10.2.2.2. Dairy Food Products
10.2.2.3. Beverages
10.2.2.4. Dietary Supplements
10.2.2.5. Confectionery
10.2.2.6. Others
10.2.3. By Country
10.2.3.1. Saudi Arabia
10.2.3.2. UAE
10.2.3.3. South Africa
10.2.3.4. Rest of the Middle East & Africa
10.2.4. Company Market Share (Top 3-5)
10.2.5. Economic Impact Study on Middle East & Africa Stevia Market
- Competitor Analysis
11.1. Company Description
11.2. Financial Analysis
11.3. Key Products
11.4. Key Management Personnel
11.5. Contact Address
11.6. SWOT Analysis
11.7. Company Profile
11.7.1. Evolva Holding S.A.
11.7.2. Stevia Corporation
11.7.3. Cargill Inc.
11.7.4. Ingredion Incorporated
11.7.5. PureCircle Ltd.
11.7.6. The Coca-Cola Company
11.7.7. Tate & Lyle plc
11.7.8. Pepsico Inc.
11.7.9. GLG Life Tech Corp
11.7.10. Stevia First Corporation
11.7.11. Other Prominent Players
Frequently Asked Questions (FAQ):
Stevia is a perennial herb plant used as a sugar substitute, with a height of 30.5–80 cm.
Truvia®, Pure Via®, SPLENDA® Naturals Stevia Sweetener, SweetLeaf®, Stevia In The Raw®, and Enliten®
The global stevia market is estimated to reach USD 14.7 billion by 2030, and It was valued at USD 8.2 billion in 2022.
The growth rate of the Global Stevia market is 10.2% during the forecast period.
Healthy ingredients, applications in medicine and diets are the growth drivers of the Global Stevia market.
