According to the latest report by IMARC Group, titled “Stevia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” offers a comprehensive analysis of the industry, which comprises insights on stevia market share report. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global stevia market size reached US$ 763.0 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,438.3 Million by 2032, exhibiting a growth rate (CAGR) of 7.1% during 2024-2032.
Stevia Market Overview:
Stevia is a natural sweetener derived from the leaves of the Stevia rebaudiana plant, native to South America. It is prized for its intense sweetness, which is up to 300 times sweeter than sugar, yet it contains zero calories. Stevia has gained popularity as a sugar substitute in food and beverages due to its ability to sweeten without adding calories or affecting blood sugar levels, making it suitable for people looking to reduce their sugar intake or manage diabetes. Stevia is also known for its non-nutritive properties and is used in various products such as soft drinks, desserts, and dietary supplements, contributing to its growing demand in the food and beverage industry worldwide.
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Global Stevia Market Trends:
The global market is majorly driven by the increasing health consciousness among consumers, coupled with rising concerns about obesity and diabetes. As people seek alternatives to sugar that offer sweetness without the negative health effects, stevia has emerged as a preferred choice due to its zero-calorie and low-glycemic-index properties. Additionally, growing awareness about the adverse effects of artificial sweeteners has led consumers to opt for natural alternatives, further boosting the demand for stevia.
Moreover, regulatory approvals and endorsements from health authorities worldwide have bolstered consumer confidence in stevia as a safe and reliable sweetening option.
Furthermore, the expanding food and beverage industry, particularly in emerging markets, drives the adoption of stevia as a key ingredient in various products such as soft drinks, dairy products, confectionery, and baked goods. The versatility of stevia allows manufacturers to develop healthier formulations without compromising on taste, meeting the evolving preferences of health-conscious consumers. Moreover, technological advancements in stevia extraction and purification processes have improved the taste profile and cost-effectiveness of stevia-based sweeteners, further driving market growth.
Competitive Landscape with Key Players:
Archer-Daniels-Midland Company
Cargill Incorporated
GLG Life Tech Corporation
Guilin Layn Natural Ingredients Corp.
Hunan NutraMax Inc.
Ingredion Incorporated
Morita Kagaku Kogyo Co. Ltd.
Pyure Brands LLC
Sunwin Stevia International Inc
Tate & Lyle PLC
The Real Stevia Company AB
Wisdom Natural Brands
Zhucheng Haotian Pharm Co. Ltd.
Key Market Segmentation:
Breakup by Extract Type:
Powder
Liquid
Leaf
Breakup by End Use:
Beverages
Food Products
Table Top Sweeteners
Pharmaceuticals
Others
Competitive Landscape with Key Players:
The competitive landscape of the market has been examined in the report with detailed profiles of major players operating in the market.
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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