The new report by Expert Market Research titled, ‘Global Stevia Market Growth, Size, Share, Analysis, Report and Forecast 2020-2025’, gives an in-depth analysis of the global stevia market, assessing the market based on its segments like types, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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Market Overview (2015-2025)
1. Historical Market Size (2019): USD 520.32 million
2. Forecast CAGR (2020-2025): 8.4%
3. Forecast Market Size (2025): USD 844.20 million
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The rising health concerns and consumer awareness about drinks with high sugar content are pushing the growth of the global stevia market. Stevia, being a low-calorie replacement, has quickly made its way into the industry, especially the food and beverage industry. Furthermore, the rapidly rising innovations, as well as increased applications in various industries is aiding the market growth. The rising number of people suffering from ailments like obesity and diabetes has forced the shift from sugar to stevia as it is a healthier substitute, acting as a healthier sweetener. The market is likely to grow further, owing to its use in the pharmaceutical sector and is expected to witness growth in the coming years.
Industry Definition and Major Segments
Stevia is a naturally occurring sweetener, which is derived from the leaves of stevia rebaudiana, a plant that is a member of the chrysanthemum family, a subgroup of the Asteraceae family. Steviol glycosides, the active compounds in stevia, are 30 to 150 times sweeter than sugar.
Based on extract types, the market can be divided into:
The powder extract segment leads the market
Based on end-uses, the industry can be divided into:
2. Food Products
3. Tabletop Sweeteners
The beverages sector dominates the market.
On the basis of region, the market is divided into:
1. Asia Pacific
3. North America
4. Latin America
5. Middle East and Africa
The Asia Pacific and Europe are the leading regional markets for stevia.
Also Read Our Latest Study on Impact of COVID-19 on Sugar Market World Wide@ https://www.expertmarketresearch.com/reports/sugar-market-report
The growing rates of obesity and diabetes, especially in Latin America and North America, have resulted in increased customer awareness and has forced the shift to low-calorie alternatives, thus propelling the global stevia market growth in these regions. The widespread use of stevia in ready-to-drink beverages, soft drinks, and pharmaceuticals is providing impetus to the market. Moreover, steps taken by governments across the globe, especially in the North American region, is further propelling the market growth. The reduction in the consumption of artificial products with the introduction of natural products like stevia is driving the market growth. Companies like PepsiCo, Inc. and The Coca-Cola Company have incorporated the product into their beverages. With increased penetration of stevia into the market, the industry is expected to witness a healthy growth.
Key Market Players
The major players in the market are PureCircle, Cargill, Incorporated, ADM, Ingredion Incorporated, and Tate & Lyle, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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