Key Stevia Market Players, Value, Region, and Forecast to 2030
Market Overview
The Stevia Market will obtain an
estimated valuation of USD 1.5 billion and register a CAGR of 9.45% by 2030 in
the forecast period.
Today’s generation’s preference to consume
natural sweeteners rather than artificial ones has increased the demand for
stevia. It is now used in various food products. Hence, the Stevia
Market in the application is propelling.
The rising consumer awareness of using
health-beneficial food products with low-calorie content is acting as a growth
catalyst in the market. A higher number of chronic disease patients, such as
obese and diabetic people, consider stevia a better alternative to sugar.
Moreover, it is also used to enhance the flavors of dishes. It is sprinkled on
overcooked meat, cereals, vegetables, and salads to add taste. It adds a
flavorful sweet taste and increases its nutritional value. Due to these
factors, the Stevia Market is noticing massive demand.
The industrial players of the market are
developing in the food and beverages industry to introduce natural and
low-calorie sweeteners, with the predominant focus on stevia. Consumers of
developed economies like the United States, United Kingdom, etc., are highly
inclined toward low-sugar content fruits and vegetable juices which is rising
the market demand.
The key stevia market players activities include new
product releases with innovations in the food and beverage sector. The
requirement to meet the sugar substitute demand of consumers to maintain a
healthy lifestyle is bringing great opportunities for the market. Moreover,
with effective techniques development, stevia extracts have become capable of a
flavoring agent. These growth factors and opportunities will drive
the Stevia Market growth rate and revenue in the upcoming years.
Market Segments
The Stevia Market is
segmented into two major segments – type and application.
Based on the type segment, the market
constitutes of whole leaf, powder, liquid, and others. The application segment
is classified into dairy, convenience foods, tabletop sweeteners, bakery &
confectionery, beverages, and others.
Regional Analysis
The regional growth analysis of Stevia
Market shows its tremendous growth in top regions such as
Asia-Pacific, North American region, Europe, and other regions of the
world.
The Asia Pacific region is showing dominating
growth in terms of share, followed by North America. The rising per capita
income of consumers with accelerated the demand for stevia sweeteners is
driving the regional market here. The Asia-Pacific market is noticing rapid
progress with huge investments from several multinational manufacturers of
developing countries such as China, Japan, and India. The other regions are
also showing decent growth rates with good market share.
Industry News
In July 2021, Layn built a stevia plant to meet the growing global demand for
natural sweeteners. The company invested USD 148 million in its new production
facility. The facility can process 4,000 tons of stevia leaf extract per year.
In April 2021,
Archer-Daniels-Midland Company established a new plant-based innovation lab in
Singapore at ADM’s Biopolis research hub. The lab has developed “next-level and
ongoing-trend” nutritious products to meet the rising demand for food and
beverage demand in Asia-Pacific.
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Honey), By Category (Natural, Synthetic, and Others), By Distribution Channel
(Store-Based and Non-Store-Based), And By Region (North America, Europe,
Asia-Pacific, And the Rest Of The World) – Market Forecast Till 2030.
Low-Calorie Sweeteners Market Global Research Report by
Category (Natural and Synthetic), Type (Aspartame, Saccharin, Sorbitol, Stevia,
Xylitol and others), Application (Bakery & Confectionery, Beverages, Dairy
& Frozen Dessert, Sweet & Savoury Snacks and others) and Non-Store
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Alternative Sweeteners Market Research Report:
Information by Product type (Synthetic, (Aspartame, Acesulfame-K, Sucralose,
and Saccharin,) and Natural (Stevia, Sorbitol, Xylitol, and Erythritol), by
Application (Food & Beverages (Bakery & Confectionary, Beverages, Dairy
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