Global Stevia market was around 520 million in 2019 and projected to reach the valuation about 867 million by the year 2026 by growing at a CAGR of 7.51% during the forecast period 2020-2026

Published | 14 April 2020

Stevia is a natural sweetener taken from a plant species known as Stevia Rebaudiana. It's a healthy, zero-calorie sweetener 200 times sweeter than sugar. Stevia also contains a variety of antioxidants, including flavonoids, triterpenes, tannins, and quercetin. Despite rising recognition and a growing number of health benefits associated with its use, consumers are increasingly substituting stevia for sugar. Numerous food and beverage manufacturers also use it in coffee, tea, smoothies, and yogurt to deliver low-calorie products.

Stevia is considered to have a range of health benefits, such as diabetes control, weight loss, blood pressure, and sugar control. Increasing knowledge of these advantages has led to an increase in demand, which is now rising economically worldwide. Also, stevia serves as an antibiotic and helps prevent the spread of bacteria due to which it is used in topical skin conditions such as eczema and dermatitis. Apart from this, health-conscious customers are becoming more susceptible to low-calorie sweeteners like stevia, which increases their sales around the world.

Certain factors that affect demand growth include shifting lifestyles, rising disposable incomes, and various measures undertaken by governments of various countries to reduce sugar consumption to tackle health issues such as obesity and diabetes.

Increasing prevalence of diabetes is expected to drive the global Stevia market 

As consumers opt for plant-based and natural goods, manufacturers, especially in the F&B industry, try to integrate natural ingredients into their goods. Increasing understanding of the side-effects of the hormones and antibiotics present in animal products, the vegan population, and rising compassion for animals are expected to be some of the drivers of increasing demand for plant-based products. As a result, the growing trend towards using plant-based products is expected to have a positive effect on the stevia industry. Stevia is a natural, strong-intensity sweetener, 200-300 times sweeter than sucrose. Stevia is safe and helps grow low-calorie products. Stevia contains active mixtures such as steviol glycosides, which are heat stable and pH stable. Different advantages provided by stevia have increased demand in the end-use industry and are expected to fuel the stevia market's growth.

Ease of use is expected to drive the market growth of the global Stevia market

The growing prevalence of diabetes and obesity is expected to serve as a major driver for the stevia industry. According to the World Health Organization, about 1.6 million deaths were caused directly by diabetes in 2016 and is the seventh leading cause of death worldwide. More than 1.9 million adults were overweight in 2016, while 650 million of these adults were obese. As diabetes and obesity rates rise, customers are taking sufficient steps to maintain a safe lifestyle. Consumers are now searching for zero- natural sweeteners to control their blood sugar levels. As a result, the stevia market is expected to increase as it is aligned with consumers' needs.

Asia-Pacific expected to witness significant growth in the market during the forecast period

The Asia Pacific, followed by North America, is expected to dominate the global stevia market. The market in North America is projected to have a healthy CAGR over the forecast period, while Asia-Pacific will also display strong market development over the same period. Similarly, China has distinctive global supremacy over other countries in terms of production capacity and stevia exports. The low cost of production and availability of qualified workers is a key factor for the Asia-Pacific growth.

Global Stevia Market: Competitive Landscape

The global Stevia Market is fragmented due to several large-sized companies, mid-sized & small-sized companies, and many start-ups that are working together to develop Stevia. The leading companies of Stevia Market are Cargill Incorporated, Tate & Lyle, PureCircle, Stevia Corp., Ingredion Incorporated, Archer Daniels Midland The company, Evolva, GLG LIFE TECH CORP., HYET Sweet, Sunwin Stevia International, Inc.and other prominent players.

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The report's in-depth analysis provides the growth potential, upcoming trends, and statistics of the Stevia market size & forecast. The report promises to provide state-of-the-art technology of Stevia and industry insights that help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.

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