Stevia Market Size, Share, Growth, Industry & Revenue [2031]
Stevia Market Size, Share, Growth, Industry & Revenue [2031]
Segments - Global Stevia Market by Applications (Beverages, Dietary Supplements, Bakery, Dairy Food Products, Confectionery, and Others), Product Form (Liquid, Powder, and Leaf), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
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| Report ID :FB-4229
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Report Description
The global stevia market size is projected to expand at a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to rising demand for low calorie food and beverages.
During the projected period, the stevia market is likely to have favorable growth due to rising consumer demand for nutrition-rich goods in order to live a healthy lifestyle. This is due to the presence of antioxidant chemicals, caffeic acid, quercetin, flavonoids, and tannins in the contents.
Stevia is powdered and sprinkled on cooked vegetables, salads, cereals, and meat to lend a special flavor to it, in addition is being used in the manufacture of go-to-drinks. As a result, stevia producers are researching and developing new techniques to minimize the calorific content of the product without sacrificing its flavors.
Due to the interruption in the distribution network during the COVID-19 crisis, stevia demand remained mild. When compared to artificial sweeteners, stevia still lacks the required popularity. As a result, it has a low demand in supermarkets while having a high demand online.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing adoption of natural and plant-based goods is projected to drive the market during the forecast period.
- Growing awareness of the negative consequences of hormones and antibiotics found in animal goods is anticipated to fuel the market in the coming years.
- The demand for stevia is projected to rise as the millennial population opts for low-calorie foods and beverages.
- Increased prevalence of diabetes and obesity is expected to propel the stevia market.
- Rapid growth and development of the food & beverages industry are major factors fueling the market.
- Fluctuating supply is anticipated to hinder the market growth.
- R&D investment and technological advancement in artificial flavor sugar is expected to create a lucrative opportunity for the market players.
Scope of the Report
The report on the global stevia market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
| Attributes | Details |
| Report Title | Stevia Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
| Base Year | 2020 |
| Historic Data | 2018–2019 |
| Forecast Period | 2021–2028 |
| Segmentation | Applications (Beverages, Dietary Supplements, Bakery, Dairy Food Products, Confectionery, and Others), Product Forms (Liquid, Powder, and Leaf) |
| Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
| Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
| Key Players Covered in the Report | Cargill Incorporated; Glg Life Tech Corp; Archer Daniels Midland Company; Tate & Lyle PLC; Ingredion Incorporated |
Market Segment Insights
The confectionery segment is projected to hold a large market share
Based on applications, the stevia market is divided into beverages, dietary supplements, bakery, dairy food products, confectionery, and others. The confectionery segment is expected to account for a key share of the market during the forecast period owing to rising demand for low calorie bakers' confectionery product such as sweet pastries, cakes, and similar baked goods. On the other hand, the beverages segment is anticipated to expand at a rapid pace during the forecast period due to increasing awareness about obesity and diabetes. Moreover, many major beverage companies are releasing products with natural low-calorie sweeteners, mostly stevia.
The liquid segment is projected to expand at a rapid pace
In terms of product forms, the stevia market is segmented into liquid, powder, and leaf. The liquid segment is expected to represent a key share of the market in the coming years owing to increased solubility and rising usage of liquid stevia in beverages such as tea, coffee and others.
North America is expected to dominate the market
On the basis of regions, the stevia market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period. The regional market growth can be attributed to changing consumer tastes and increased usage of sugar substitutes and low-calorie sweeteners. North America is a prominent producer and user of sweeteners, owing to the increased popularity of prepared foods and convenience foods.
Segments
The stevia market has been segmented on the basis of
Applications
- Beverages
- Dietary Supplements
- Bakery
- Dairy Food Products
- Confectionery
- Others
Product Forms
- Liquid
- Powder
- Leaf
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Cargill Incorporated
- Glg Life Tech Corp
- Archer Daniels Midland Company
- Tate & Lyle PLC
- Ingredion Incorporated
Competitive Landscape
Key players competing in the stevia market include Cargill Incorporated; Glg Life Tech Corp; Archer Daniels Midland Company; Tate & Lyle PLC; Ingredion Incorporated.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years. For instance,
In 2019 Sweet Green Fields (SGF) and Tate & Lyle announced a cooperation to introduce ZOLESSE, a glycosylated stevia extract labelled as a natural taste.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Stevia Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Stevia Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Stevia Market - Supply Chain
4.5. Global Stevia Market Forecast
4.5.1. Stevia Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Stevia Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Stevia Market Absolute $ Opportunity
5. Global Stevia Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Stevia Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Stevia Demand Share Forecast, 2019-2026
6. North America Stevia Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Stevia Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Stevia Demand Share Forecast, 2019-2026
7. Latin America Stevia Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Stevia Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Stevia Demand Share Forecast, 2019-2026
8. Europe Stevia Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Stevia Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Stevia Demand Share Forecast, 2019-2026
9. Asia Pacific Stevia Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Stevia Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Stevia Demand Share Forecast, 2019-2026
10. Middle East & Africa Stevia Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Stevia Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Stevia Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Stevia Market: Market Share Analysis
11.2. Stevia Distributors and Customers
11.3. Stevia Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Cargill Incorporated
11.4.2. Glg Life Tech Corp
11.4.3. Archer Daniels Midland Company
11.4.4. Tate & Lyle PLC
11.4.5. Ingredion Incorporated
Methodology
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