Report Overview

  Global Stevia Market Forecast and Trends

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

Growing demand for natural sweeteners, especially in beverages, is estimated to increase the demand for Stevia during the forecast period. Stevia's market penetration in the food industry due to its superior sweetening properties is anticipated to propel the market growth.

Stevia is gained from a medicinal and culinary herb and is famous for its superior medicinal and herbal properties. It is also known for its strength to control blood pressure and in weight control, and continuous research and advancements in the pharmaceutical industry will help in opening new avenues for manufacturers.

As the demand for cookies, chocolates, confectionery, and other baked goods grows, the food market will remain a high potential sector for Stevia. It would continue to broaden the manufacturing business and increase its reach over the projected era. In the Asia Pacific and Latin America, it has strong market acceptability due to the growing availability of the food product in these regions and rising knowledge of its many benefits. Europe and North America are comparatively more significant markets, due to the increased demand for various food products.

Global Stevia Market: Overview

The overall sweeteners market is now dominated by artificial sweeteners such as saccharin, sucralose, aspartame, and cyclamate. In contrast, Stevia is a natural sweetener and is a niche segment within the high-intensity sweeteners market. There has been an increasing trend over the past few years to concentrate on naturally derived sweeteners and food additives due to rising consumer awareness concerning the adverse consequences of artificial additives on human health.

In a search for substitute sweeteners, especially for obese and diabetic patients, attempts are made to obtain them from the plant world. Stevia rebaudiana (Stevia) is one of the best-known plants containing sweeteners. As steviol glycosides contained in Stevia are about 30 to 320 times sweeter than white sugar (saccharose), Stevia is widely used to sweeten various drinks and dishes. In comparison to traditional sugar, it is characterized by very low-calorie content. Moreover, steviol glycosides themselves exhibit several health-promoting properties. Apart from antibacterial and antifungal properties, they can lower blood pressure.

Growth drivers

Use in food various food products

Some foods containing Stevia include Tea, chewing gum, candies, soft drinks, and soy sauce. The United States Food and Drug Administration (FDA) approved the import of Stevia in 1995, passing the sweetener to be used only as a dietary supplement. After years of further research, in December of 2008, the FDA added Stevia to the list of food additives usually recognized as safe. Stevia was then permitted to be added to flavored water, sports drinks as well as soft drinks and other foods and beverage products.

Health benefits

Herbal plants have gained attention as alternative medications because of their therapeutic properties against a wide range of infectious diseases caused by bacteria, fungi, and viruses. Stevia preparations have been reported to have the potential to inhibit the activity of pathogenic bacteria. Still, it is not known which compound in Stevia leaves is responsible for this effect. Trials on the influence of Stevia preparations on the activity of pathogenic bacteria appeared to be promising. Various research has confirmed the antibacterial and antifungal activity of Stevia extracts.

Restraint

Health Concerns

Stevia is acknowledged as a diuretic, which means that it increases the speed at which the body discharges to water and electrolytes from the body in the urine. Since the kidney is responsible for filtering and producing urine, researchers initially thought that long-term stevia consumption could harm the organ.

Global Stevia Market: Extract Type

Based on Extract Type, the Global Stevia Market segmented into Powder, Liquid, and Leaf. Powder extract type is expected to dominate at the market during the forecast period. Stevia has its own distinctive flavor that improves the taste of the food in which it is used. Stevia provides a variety of benefits, such as sweetness, texture, sugar preplacement, calorie reduction, color, and taste enhancement.

Global Stevia Market: Application

Based on the Application, the Global Stevia Market segmented into Bakery, Tabletop Sweetener, Dairy Product, Packaged Food, Beverages, and others. The beverage segment is expected to grow at a high CAGR during the forecast period. The segment is expected to see the highest growth in the forecast period due to the growing use of Stevia in various carbonated drinks. Apart from this, the product also finds its use in a range of low-calorie and zero-calorie beverages, which cater to rising demand from health-conscious consumers.

Global Stevia Market: Regional Insights

Based on the region, the global stevia market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific is expected to see promising growth over the projected period. The booming food and beverage industries in Taiwan, China, South Korea, India and Japan are likely to be a favorable business driver. Increased investment by leading food and beverage manufacturing companies such as Cargill, Coca-Cola, and PepsiCo are also anticipated to fuel demand over the forecast period.

The North America market is also expected to grow at a high CAGR during the forecast period due to growing customer perception of the benefits of natural sweeteners would have a positive effect on overall demand.

Competitive Landscape

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.

Recent Development

Ø  March 2020: Tate & Lyle PLC (Tate & Lyle), a leading global food and beverage ingredients and solutions provider announced that Food Standards Australia New Zealand (FSANZ) has published the health claim that PROMITOR® Soluble Fibre supports a positive change in gut microbiota. This benefit is now listed as a general level health claim, which means that food and drink manufacturers in Australia and New Zealand can include it on the packaging for products containing PROMITOR® Soluble Fibre.

Ø  March 2020: Retail food and foodservice businesses can now capture their share of the growing plant-based protein market under their own brands thanks to Cargill. The global food and agriculture company today announced its new private label plant-based patties and ground products will hit retailers and restaurants in early April.

Scope of the Report

By Extract Type

Ø  Powder

Ø  Liquid

Ø  Leaf

By Application

Ø  Bakery

Ø  Table top Sweetener

Ø  Dairy Product

Ø  Packaged Food

Ø  Beverages

Ø  Others

By Region:  

Ø  North America

Ø  Europe

Ø  Asia Pacific

Ø  Latin America

Ø  Middle East & Africa

The objective of the Study:

Ø  To analyze and forecast the global Stevia Market size of the market in terms of value.

Ø  To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.

Ø  The Global Stevia Market segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, Middle East & Africa and their leading countries.

Ø  To outline, categorized, and forecast the global Stevia Market-based on the extract type, and application.

Ø  To examine competitive developments like technological advancement, services, and regulative framework within the global Stevia Market.

Ø  To highlight the impact analysis of the factors affecting market dynamics such as drivers, restraints, opportunities, and challenges.

Ø  To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.