Healthcare

Global Stevia Market

March 25, 2020
ID: SR/CG-23
Format:Pdf
Pages:220

Global Stevia Market- By Product Form (Powder, Liquid, Leaf), By Application (Bakery, Dairy Food Products, Beverages, Dietary Supplements, Confectionery, Others) and By Region (North America, Europe, Asia Pacific, South America, Middle East, & Africa)- Global forecast from 2020-2027.

Description

Global Stevia market Overview:

Stevia is a perennial herb plant that is 30.5–80 cm in height. Stem erect, base woody, soft upper part, densely short-hairy, corolla base light purple-red or white, upper part white. Achenes linear, slightly flattened, brown, crested. This species grows in a warm and humid environment and is sensitive to light. The leaf contains 6-12% inulin, and the exceptional product is a white powder. It is a low-calorie, high- sweetness natural sweetener. It is one of the raw materials in the food and pharmaceutical industries. Stevia is a plant with keen light sensitivity and has an optimal growth period is 100-120 days.

Global Stevia market Insights

The global stevia market expected to fuel the market growth at substantial CAGR in the forecast period from 2020-2027. The stevia market has captured the demand based on rising per capita consumption of zero-calorie beverages and innovative stevia products that are cost-effective and healthy. The high growth potential of emerging markets and untapped areas provides new growth opportunities for market participants. Stevia has become popular in many countries due to its zero glycemic index and zero calories.

Moreover, stevia can assist in the treatment of hypertension and hyperglycemia, and its mechanism of action is similar to that of calcium ion blockers in western medicine. Patients with hypertension can brew stevia as a tea drink and as a health drink to help lower blood pressure. It is also suitable for patients with obesity, diabetes, hypertension, arteriosclerosis, and dental caries.

Furthermore, due to strong market demand, coupled with the level of obesity and diabetes continues to rise, calorie intake and consumption of healthy food and beverages have been widely recognized and valued. The high-intensity sweetener provides sugar with about 300 times the power of the sweetener without adding any calories. Therefore, due to its versatility, it is widely used as a top-sweet sweetener. Stevia increasingly recognized as an ingredient in finished products, mainly soft drinks.

Growth Driver

Healthy ingredient

Stevia is considered a healthy natural sweetener with zero calories and, thus, found as healthy ingredients. In many countries, people are consuming in their diet for centuries, and due to its magical properties, it is highly recommended and initiate high demand in the global stevia market. Many soft drinks companies like Pepsi, Coca-cola are using stevia in their cold drinks, vitamin water, etc.

Various application

The stevia plant widely used as medicine and diet. It is commonly used as a flavoring agent to correct the odor and strange smell of certain drugs and to use it as an adjunct to tablets, pills, capsules. Moreover, the stevia residue not only has a very high organic content but also contains a few amounts of minerals such as calcium and magnesium, which can be used as a natural fertilizer to improve the soil.

By Product forms Segmental Analysis

Based on product forms, the global stevia market segmented into Powder, Liquid, Leaf. The liquid form of the stevia segment has dominated the market share of the global stevia market. It is owing to its natural sweetener property widely used in soft drinks companies, a pharmaceuticals company. Moreover, it commonly applies to make sweet food for obese patients, stevia beverages, or stevia candies for children, which can prevent overweight people from gaining weight childhood obesity. Therefore, the liquid forms highly recommended by people, thus propel the market demand for the global stevia market.

By Application Segmental Analysis

Based on the Application, the global stevia market classified into Bakery, Dairy Food Products, Beverages, Dietary Supplements, Confectionery, Others. The beverages segment has bolstered the market share for the global stevia market. The stevia used as needed in foods and beverages, becoming a sweetener with the same safety level as sucrose. Sucrose also contains high calories and is the number one killer of human health. Sucrose is the root cause of many diseases such as obesity, diabetes, fatty liver, and heart disease.

However, the advantages of stevia are incomparable with sucrose. Using steviol glycosides instead of sucrose to process foods and beverages is not only more beneficial to the health of the body, but also meets the requirements of foods and drinks to develop low sugar gradually.

Region Segmental Analysis

Based on geography, the global stevia market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific has dominated the market demand for global stevia. The future of the stevia industry will increase demand for convenience foods, low-calorie drinks, and tabletop sweeteners, coupled with changing lifestyles, will increase demand for stevia in India and other developing economies in Asia. With the increase of disposable income and the tendency to western eating habits, more users are willing to spend on new stevia products and add sugar substitutes such as stevia to sweets.

Competitor Analysis

Companies such as Evolva Holding S.A., Stevia Corporation, Cargill Inc., Ingredion Incorporated, PureCircle Ltd., The Coca-Cola Company, Tate & Lyle plc, Pepsico Inc., GLG Life Tech Corp. and Stevia First Corporation and others are the key players in global stevia market.

Key Stakeholders

Market research and consulting firms
Industry associations
Global stevia manufacturing companies
Research organizations and consulting companies
Organizations, associations, and alliances related to stevia
Regulatory bodies

Scope of the report

Report Attribute	Details
Market size value in 2020	USD 610 million
Revenue forecast in 2027	USD 985 million
Growth Rate	CAGR of 7.65% from 2020 to 2027
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Ingredion Incorporated, PureCircle Ltd., Pepsico Inc., The Coca-Cola Company, Tate & Lyle plc, Evolva Holding SA, Stevia Corporation, Cargill Inc., GLG Life Tech Corp and Stevia First Corporation and others.

Recent Developments

In September 2021, Ingredion entered a supply agreement with S&W Seed company for US stevia production.
In September 2021, Pure circle collaborated with Synergy flavors to create a range of zero sugar tonics sweeteners extracted from RebMstevia.
In July 2021, Tereos signed a strategic sourcing agreement with Swiss flavor house Firmenich for stevia extracts to offer its customers traceable stevia-based sweetening solutions globally.

The objective of the Research

Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.

Market Modelling

By Product Form

Powder
Liquid
Leaf

By Application

By Region

Europe
North America
Asia Pacific
South America
Middle East & Africa

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What does stevia mean?

Stevia is a perennial herb plant used as a sugar substitute, with a height of 30.5–80 cm.

What are examples of stevia?

Truvia®, Pure Via®, SPLENDA® Naturals Stevia Sweetener, SweetLeaf®, Stevia In The Raw®, and Enliten®

What is the size of the Global Stevia market?

The global stevia market size will reach USD 985 million by 2027 from USD 610 million in 2020.

What is the growth rate of the Global Stevia market?

The growth rate of the Global Stevia market is 7.65% during the forecast period.

What are the growth drivers of the Global Stevia market?

Healthy ingredients, applications in medicine and diets are the growth drivers of the Global Stevia market.

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