The ‘Global Stevia Market Report and Forecast 2022-2027’ by Expert Market Research gives an extensive outlook of the global stevia market, assessing the market on the basis of its segments like extract type, end-use, and major regions.
The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): 8412.60 MT
• Forecast CAGR (2022-2027): 9.2%
• Forecast Market Size (2027): 14,317.09 MT
|Market Size in 2021||8412.60 MT|
|Revenue Forecast in 2027||14,317.09 MT|
|Growth Rate CAGR||9.2%|
|Major Players||Layn Corp., Cargill, Incorporated, ADM, Ingredion Incorporated, Tate & Lyle, others.|
The growing demand for low-calorie sweeteners in the food and beverages industry is likely to drive the stevia market growth across world. With the increasing consciousness of diabetes and obesity, the shift from artificial sweeteners to natural sweeteners is expected to increase among consumers over the coming years. The increase in the demand for nutrition-rich products is likely to fuel the market growth of stevia due to the rapid urbanisation and changing tastes and preferences of consumers.
Stevia includes several healthy components like caffeic acid, antioxidant compounds, quercetin, tannins, and flavonoids, which are further expected to gain more consumer traction and is likely to propel the stevia market growth globally. Surging awareness regarding the health benefits of low-calorie consumable products is expected to drive market growth over the upcoming years.
The health benefits offered by stevia include help in weight loss, diabetes control, regulated blood pressure, possible anticancer potential, reduced cholesterol levels, maintenance of oral health, improved skin, and prevention of osteoporosis, among others. These benefits are likely to positively influence the market demand for stevia among consumers across the globe.
Stevia Industry Definition and Major Segments
Stevia is also known as Stevia rebaudiana and is made from the leaves of the stevia plant, that is a part of the chrysanthemum family. It is also considered a subgroup of the Asteraceae family. Stevia is often used as an alternative to sugar.
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By extract type, the market is segmented into:
By end-use, the market is classified into:
• Food Products
• Tabletop Sweeteners
Based on region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
Stevia Market Trends
The global stevia market is expected to witness significant growth in the span of the forecast period on account of the increasing number of product innovations and launches in the food and beverage industry by major market players. With more effective techniques, the demand for stevia extracts is likely to enhance with more pleasant flavour profiles.
As a result of the increasing popularity of stevia for use by those suffering from hyperglycaemia and hypertension, the market demand for stevia is likely to enhance over the coming years. The powder segment is expected to gain momentum in the market growth of stevia across the globe. This is on account of the availability of powder stevia in various convenient packaging types such as jars, sachets, and bottles along with it being less grainy as compared to sugar granules.
Geographically, the North American region is augmenting the stevia market share during the forecast period on account of the surging rate of chronic diseases. The rising incidences of obesity and diabetes along with developing trends of clean labels and low carbs as well as increasing demand for sugar-free products are driving the market demand for stevia in the region.
Meanwhile, the Asia Pacific region is expected to witness growth in the market share of stevia on account of the high demand for the product across the beverage industry. There is a growing prevalence of obesity, rise in the income of consumers, and stringent curbs on the production and applications of some artificial high-intensity sweeteners. These factors are expected to fuel the demand for stevia in the region over the upcoming years.
Key Market Players
The major players in the global stevia market report are:
- Layn Corp
- Ingredion Incorporated
- Tate & Lyle
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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