DescriptionBy 2022, the Global Stevia Market is estimated to reach US$ XX Mn, up from US$ XX Mn in 2016, growing at a CAGR of XX% during the forecast period.Stevia is a sugar substitute extracted from the leaves of the plant Stevia rebaudiana. Stevia was first cultivated for commercial usage by Japan in the 1970s, with Morita Kagaku Kogyo Co., Ltd. being the first company to market and sell stevia commercially.
Today, the growing awareness about the health benefits associated with stevia including low-calorie and high protein ingredient is leading to the extensive use of these products in the food and beverage industry, thus driving the growth of the stevia market
In recent years, the stevia market has witnessed an uptick in emerging countries across the globe owing to increasing awareness about its various health benefits. With the rise in population, coupled with an increasing GDP, the global stevia market is expected to show double digit growth in the future.
Factors like increasing urbanization, changing eating habits, encouraging government initiatives and rise in the consumption of stevia products are auguring positive signs for the growth of the market, especially in the prospering countries of Asia Pacific region such as India and China
Moreover, new product development and high levels of marketing support are expected to further boost the market growth during the forecast period. On the contrary, as a sweetener, stevia and stevia products have always been on the news due to various regulatory constraints. This poses a major threat to the growth of the stevia market. In addition, the availability of other low calorie is expected to further diminish the market growth.
The global stevia market is fragmented on the basis of Extract Type, Application, and Form.
- Extract Type – Whole leaf, Powdered, Liquid
- Application – Dairy, Bakery & Confectionery, Tabletop sweeteners, Beverages, Convenience foods, Others
- Form – Dry, Liquid
Geographically, the global stevia market analysis reveals that North America represents the most lucrative market, followed by Asia Pacific (excluding Japan) and Latin America. In Asia Pacific, India and China provide great opportunities for stevia manufacturers in the near future. Increasing exports of stevia from Japan to other regions, along with the soaring prices of stevia has resulted in a decreasing growth of the market in Japan. Moreover, the Middle East and African region is expected to rise as a potential market during the later years of the forecast period due to increasing disposable income and modern retail infrastructure.
Upstream market players offering stevia to other manufacturers in the baking industry to develop innovative baked products include Cargill (U.S.) and PureCircle Ltd. (Malaysia). The downstream market players involved in direct distribution of stevia to retail stores and customers include Ingredion Inc. (U.S.), GLG Life Tech Corporation (Canada), and Tate & Lyle PLC (U.K.).
- Global Stevia Market segments
- Global Stevia Market Drivers, Restraints and Opportunities
- Global Stevia Market Size & Forecast 2016 to 2022
- Supply & Demand Value Chain
- Global Stevia Market – Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
- North America
- US and Canada
- Latin America
- Mexico, Brazil, Argentina and Rest of Latin America
- Western Europe
- EU5 (Germany, France, Italy, Spain, U.K.)
- Nordic Countries (Denmark, Finland, Norway, and Sweden)
- Benelux (Belgium, The Netherlands, and Luxembourg)
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
- Middle East and Africa
- GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
- South Africa
- North Africa
- Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- Market Segmentation
- Estimated Market Sizing in terms of volume and value
- Recent trends in Global Stevia Market and impact
- Research Status and Technology Overview
- Extensive Industry Structure Coverage