Global Stevia Market by Application (Pharmaceutical, Food, Beverages, Tabletop Sweeteners) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

Global stevia market was valued at USD 337.7 Million in 2015. It is projected to grow at 6.1% CAGR from 2016-2024. In the near future, there will be a rise in demand for natural sweeteners in beverages. It is expected that natural sweeteners will see a rise in market penetration in the food sector due to its superior sweetening properties.

Artificial sweeteners like saccharin and sucralose dominate the overall sweeteners market. Stevia is a natural sweetener that is part of the high-intensity sweeteners segment. Due to rising awareness about the negative effects of artificial food additives on our health, there has been a growing trend in recent years to concentrate on natural sweeteners and food ingredients.

Stevia is a medicinal and culinary herb. It is well-known for its medicinal and herbal properties. Stevia is well-known for its ability in weight management and blood pressure control. Manufacturers can also benefit from continuous research and development in pharmaceutical industry.

Due to the increasing demand for confectionery, chocolates and other baking products, the food sector will continue to be a strong potential market for stevia. This will allow manufacturers to expand their market and increase its reach over the forecast period. The product is well-received in Asia Pacific and Latin America due to its growing availability and increasing awareness about its many benefits. Europe and North America have larger markets due to greater product penetration in food industry.

Application Insights

In 2015, the beverage market dominated the stevia industry. This segment is expected to see the most growth due to the rising popularity of stevia in carbonated beverages. The product can also be found in a variety of low- or zero-calorie beverages to meet the growing demand from health-conscious customers.

Producers have been concerned about the bitter taste of stevia. Companies are now looking for ways to reduce bitterness. This will increase its appeal to consumers and allow it to be used in more food products.

Regional Insights

North America accounted for 27.2% global market volume in 2015, making it the second-largest region. Consumer awareness about the benefits of natural sweeteners is expected to have a positive effect on overall demand.

Asia Pacific is forecast to experience promising growth during the forecast period. The market is expected to benefit from the growth of the food and beverage industries in Japan, South Korea, India and Taiwan. The market will be supported by increased investments from leading food and beverage manufacturers such as PepsiCo, The Coca-Cola Company and Cargill.

About 40% of Japan's sweeteners market is made up of stevia. It is consumed in various dietaryandlow-calorie supplements. China is now the largest exporter of Stevia, and this has led to a substantial increase in its consumption. South Korea has also been a major market with stevia's acceptance by consumers for a long time. The key factors driving the market in this region are strong government support and consumer awareness.

Stevia Market Share Insights

Evolva Holding S.A., Cargill, Inc., Stevia Corporation, PureCircle Ltd., Ingredion Inc., Tate & Lyle Plc, The Coca-Cola Company, GLG Life Tech Corp., and PepsiCo Inc. are key players in this market.

This market is still relatively new, so there are many opportunities for players. The product is being promoted as a beverage by beverage companies, who incorporate it in their diet soft drinks. The product is being promoted by biotechnology companies in a variety of forms, including liquids and powders.

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional and country level and offers an analysis of industry trends in each sub-segment from 2013 through 2024. Up Market Research has divided the global stevia market report by application and region.

• Application Outlook (Volume and Tons; Revenue USD Million, 2013-2024)

  • Beverages

  • Food Products

  • Pharmaceutical

  • Sweeteners for the table

  • Other

• Regional Outlook (Volume and Tons; Revenue USD Million, 2013-2024)

  • North America

    • The U.S.

  • Europe

    • Germany

  • Asia Pacific

    • China

    • Japan

    • South Korea

  • Latin America

    • Brazil

  • Middle East & Africa (MEA)

Up Market Research published a new report titled “Stevia Market research report which is segmented by Application (Pharmaceutical, Food, Beverages, Tabletop Sweeteners), By Players/Companies Evolva Holding SA; Cargill, Inc; Stevia Corporation; PureCircle Ltd; Ingredion Inc; Tate & Lyle Plc; The Coca-Cola Company; GLG Life Tech Corp; and PepsiCo Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Stevia Market Report Segments:

The market is segmented by Application (Pharmaceutical, Food, Beverages, Tabletop Sweeteners).

Stevia Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Stevia Market

Overview of the regional outlook of the Stevia Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Stevia Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Stevia Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Pharmaceutical

                2. Food

                3. Beverages

                4. Tabletop Sweeteners

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Stevia Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
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• Understanding Competition Scenario
• Product & Brand Management
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• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Stevia Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.