According to a recent report from Reports and Data, the global stevia market is expected to reach USD 1,344.06 million by 2030, with a revenue CAGR of 8.5% over the forecast period. The growth is being driven by the increasing demand for natural sweeteners in the beverage industry, as well as increased investments in R&D in the food and beverage industry.

The stevia market is also benefiting from a growing public awareness regarding healthier sugar alternatives, as well as an increasing incidence of diabetes and obesity. As a high-intensity sweetener, stevia is 200 times sweeter than sucrose and can be used to develop low-calorie products. It is also a natural sweetener that does not have any harmful effects and is used in various food and beverage products, including instant beverages. Additionally, the rising demand for plant-based natural sweeteners is contributing to the growth of the market.

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Major Companies:

Cargill, Incorporated, Arboreal Stevia, Tate & Lyle, PureCircle, GLG Life Tech Corp., Sunwin Stevia International Inc., S&W Seed Co., Pyure Brands LLC, Morita Kagaku Kogyo Co., Ltd., and Layn Natural Ingredients.

Key Trends of Stevia Market

·       Increasing demand for natural sweeteners: Stevia is a natural sweetener derived from the leaves of the stevia plant. With growing health-consciousness and a preference for natural ingredients, there has been a rising demand for stevia as a substitute for artificial sweeteners like aspartame and sucralose.

·       Growing popularity in the food and beverage industry: Stevia has gained significant popularity in the food and beverage industry as a low-calorie sweetener. It is used in a wide range of products such as soft drinks, juices, yogurts, desserts, and baked goods.

·       Rising prevalence of diabetes and obesity: With the increasing prevalence of diabetes and obesity worldwide, there is a greater focus on reducing sugar consumption. Stevia offers a sugar-free or low-sugar alternative without compromising on taste, making it appealing to individuals looking to manage their blood sugar levels and reduce calorie intake.

·       Expansion of stevia product lines: As the demand for stevia continues to rise, companies are expanding their product lines to include various stevia-based products. This includes stevia extracts, liquid stevia drops, stevia-based tabletop sweeteners, and stevia-blended products.

The global Stevia market is segmented into:

·       North America (U.S.A., Canada, Mexico)

·       Europe (Italy, U.K., Germany, France, Rest of Europe)

·       Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)

·       Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

·       Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Further market segmentation

Type Outlook (Revenue, USD Billion; 2019 – 2030)

  • Reb A
  • Reb M
  • Reb D
  • Others

Form Outlook (Revenue, USD Billion; 2019 – 2030)

  • Extract Powder
  • Liquid Extract
  • Leaves

Application Outlook (Revenue, USD Billion; 2019 – 2030)

  • Beverages
  • Bakery Products
  • Confectionery Products
  • Dairy Products
  • Cereal-Based Products
  • Tabletop Sweeteners
  • Pharmaceuticals
  • Cosmetics
  • Other Applications

Key Questions Addressed in the Report:

·       What are the dominating factors that are influencing the growth of the industry?

·       In the forecast period, which market segment is expected to rise the most?

·       What are the risks and challenges that the industry is facing?

·       In the coming years, which area is projected to dominate the market?

·       Who are the major players in the market? What kind of strategic business plans have they made?

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