Stevia Market Demand, Covid-19 Outbreak, Production, Functions, Trends, Regional Analysis, Segmentation and Forecast to 2027

Stevia is a zero-calorie sweetener with numerous medicinal properties, which have led to its popularity among health-conscious consumers. The growing awareness of stevia products in the food and beverage sector helps in the growth of the stevia market. The major application of stevia is in dairy, bakery & confectionery, tabletop sweeteners, convenience foods, beverages, and others. It is extracted in the form of whole leaf, powder, and liquid and is used on a large scale in the food industry. Numerous applications across various industries help to boost the stevia market growth across various regions.

Global Stevia Market – Overview

Due to the large number of health advantages associated with Stevia consumption, the market is growing at an incremental pace of development on the global stage. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Stevia Market Research Report- Forecast to 2022 that the market will demonstrate an exceptional CAGR % while achieving million dollar growth readily in the forecast period.

Health awareness and rising adoption of table sugar alternatives have prompted the growth of stevia in the daily diet of individuals. The sector is driven in a major way by the rising demand for natural plant based sweeteners. Rising health concerns among the consumers and escalating popularity of plant based sweeteners is identified to boost the demand for stevia on a global platform. Health benefits gained out of Stevia consumption are the main drivers to the development of this segment. Growth of the natural sweeteners extracts market is also supporting the growth of this market. However, conflicts related to stevia consumption and debatable correlations with weight gain would affect the growth of this market on a large scale.

Being a natural sweetener, stevia imparts several health advantages majorly to the diabetic consumers. Although there are several conflicts related to stevia consumption, it still has become very popular among the consumers based on the promotions stating health benefits obtained from it. Boost in fitness and wellness sector awareness has enhanced the market growth trajectory of this sector to an elevated level. Fast pace of lifestyle, increase in awareness related to diverse effects of sugar consumption have led to consumers demanding stevia to balance their nutritional requirements.

Latest Industry Updates

Jul 2017 Cargill has announced the launch of “EverSweet” which is a new stevia product that combines Reb M and Reb D. This sweetener is manufactured for a variety of confectionery applications including chocolate and candy production.

Jun 2017 Steviana Bioscience has launched high purity stevia product called “Viana”. The company took this step in order to provide the consumers with high quality stevia product based on the rising demand for purified and quality stevia products.

Jun 2017 COCA-Cola has launched “Coke No Sugar” manufactured with stevia in order to suffice the rising demand for natural sweetener containing beverages.

Jan 2017 Evolva has announced its plan for collaboration with Cargill on the next-generation stevia sweetener, EverSweet™. The strategy will help the company to strengthen their portfolio in the stevia market.

Global Stevia Market - Competitive Analysis

With the entry of new industry players in the Stevia segment, the demand from various food and beverage manufacturers have increased based on consumers trending demand for natural sweeteners. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing new product launch and R&D investments.

The key players profiled in stevia market are PureCircle Ltd (Malaysia), Ingredion Inc. (U.S.), Tate & Lyle Plc. (U.K.), Stevia Corp. (U.S.), Cargill Inc. (U.S.), GLG Life Tech Corp (Canada) and Stevia Biotech Pvt. Ltd (India) among many others.

Global Stevia Market – Segments

The global stevia market demand has been divided into type, application and region.

On The Basis Of Type: Whole Leaf, Powder, Liquid, and Others

On The Basis Of Application: Dairy, Bakery & Confectionery, Tabletop Sweeteners, Convenience Foods, Beverages, and Others

On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.

Global Stevia Market - Regional Analysis

The global Stevia market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global dietary market is highly dominated by North America and Europe due to high awareness and adoption of natural sweeteners by the consumers. APAC is fastest growing region due to changing lifestyle and improved disposable income in the region. The consumption of Stevia in countries like India is anticipated to grow at a high rate in the upcoming years.

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Key Players

Some of the key players profiled in the global stevia market: PureCircle Ltd (Malaysia), Ingredion Inc. (U.S.), Tate & Lyle Plc. (U.K.), Stevia Corp. (U.S.), Cargill Inc. (U.S.), GLG Life Tech Corp (Canada), and Stevia Biotech Pvt. Ltd (India), among others.

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.