Global Stevia Market size was valued at USD 780 Mn. in 2023 and the total Stevia Market size is expected to grow at a CAGR of 12.53% from 2024 to 2030, reaching nearly USD 1751 Mn. by 2030.

Stevia Market Overview

Stevia is a natural sweetener derived from the leaves of the Stevia rebaudiana plant. It is highly valued for its intense sweetness, attributed to the steviol glycosides found within the leaves. As a popular sugar substitute, stevia is frequently used in food and beverages, particularly due to its zero-calorie content and its minimal impact on blood sugar levels, making it a healthier alternative to traditional sugar.

The market for stevia has experienced substantial growth and diversification, largely fueled by innovations in extraction techniques and enhancements in product purity. These technological advancements have broadened the scope of stevia's applications across the food and beverage industry. Additionally, improved production methods have led to reduced costs, positioning stevia as a more economically viable alternative to conventional sweeteners.

Stevia Market Report Scope and Research Methodology

The report analyzes the strategies of the top players in the Stevia  industry. It gives insight into different market segments and regions. Market dynamics like drivers, restraints, opportunities, and challenges are analyzed both regionally and by segment. The Stevia Market report uses a bottom-up approach to estimate the market size globally and regionally. SWOT and descriptive analyses provide key information. The study aims to deliver important insights on the Stevia Market. Data is collected using qualitative and quantitative methods to track market trends. The future market outlook is evaluated considering R&D projects, innovative practices, and market consolidations.

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Market Dynamics

Rising Rates of Diabetes and Obesity:

The increasing prevalence of diabetes and obesity has significantly influenced the stevia market. With growing awareness of the health risks associated with excessive sugar intake, there has been a noticeable shift toward low-calorie sweeteners like stevia. For instance, in the United States, where obesity rates have surged and diabetes affects a significant portion of the population, the demand for healthier sugar alternatives has risen sharply. Globally, regions such as Europe and Asia-Pacific are also witnessing similar trends, driving the demand for natural, calorie-free sweeteners like stevia.

Regulatory Support:

Regulatory frameworks play a crucial role in shaping the stevia market by ensuring product safety, setting labeling standards, and facilitating market entry. For example, approvals from regulatory bodies such as the FDA and EFSA have bolstered consumer confidence in stevia, thereby accelerating market growth. Research indicates that regulatory endorsements can significantly enhance market penetration, as they validate the safety and effectiveness of stevia products. Moreover, streamlined regulatory processes lower barriers to market entry, encouraging innovation and investment in stevia-based products. Strong regulatory support not only ensures compliance but also promotes market expansion, positioning stevia as a compelling alternative in the sweetener market.

Stevia Market Segmentation

By Product Type:

The stevia market is primarily divided into segments such as Stevia Extracts, Stevia-Based Sweeteners, and Stevia-Infused Products. The Stevia Extracts segment, which includes various purified extracts from stevia leaves, is the most dominant. Among these, Reb A, the sweetest component, is often isolated for concentrated sweetening. The Stevia-Based Sweeteners segment covers finished products like tabletop sweeteners, liquid drops, and blended sweeteners that combine stevia with other ingredients to enhance flavor. The emerging Stevia-Infused Products segment involves incorporating stevia into foods and beverages, such as yogurt, baked goods, and sugar-free drinks.

By End-Use Application:

The Food & Beverage Industry is the largest application segment for stevia, where it is extensively used in products like yogurt, soft drinks, baked goods, confectionery, and sugar-free treats. These widespread applications significantly contribute to the growth of the stevia market.

In the pharmaceutical sector, stevia is being explored for its potential health benefits, particularly in managing blood sugar levels, which has led to its inclusion in diabetic supplements and functional foods.

In personal care, stevia is increasingly used in low-calorie and sugar-free cosmetics, such as toothpaste and lip balms, as a natural sweetener.

By Form:

Stevia is available in two primary forms: dry and liquid. Dry stevia, which comes in powdered or granulated form, commands a substantial market share due to its ease of use, longer shelf life, and versatility in applications like baking and cooking. Liquid stevia, while accounting for a smaller market share, is favored for its convenience in liquid-based applications, particularly in beverages.

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Stevia Market Key Players

Ingredion Incorporated
Tate & Lyle PLC
Archer Daniels Midland Company
Cargill Incorporated
Zhucheng Haotian Pharma Co. Ltd.
BENEO (SUDZUCKER Group)
Foodchem International Corporation
FRAKEN BIOCHEM CO. LTD.
Haihang Industry Co.,Ltd.
PureCircle Ltd
GLG Life Tech Corporation
Wild Flavors and Specialty Ingredients
Sunwin Stevia International, Inc.
Meiji Food & Pharmaceutical Co., Ltd.
Evolva
Pyure
Lesaffre
Jiaxing Stevia Bio-Technology Co., Ltd.
Stevia Extracts Australia Pty Ltd
Sweet Greenfields Stevia

Key questions answered in the Stevia Market are:

• What is Stevia?
• What was the Stevia market size in 2023?
• What is the growth rate of the Stevia Market?
• Which are the factors expected to drive the Stevia market growth?
• What are the different segments of the Stevia Market?
• What growth strategies are the players considering to increase their presence in Stevia?
• What are the upcoming industry applications and trends for the Stevia Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Stevia Market?
• What segments are covered in the Stevia Market?
• Who are the leading companies and what are their portfolios in Stevia Market?
• What segments are covered in the Stevia Market?
• Who are the key players in the Stevia market?

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Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2023)
• Past Pricing and price curve by region (2018 to 2023)
• Market Size, Share, Size & Forecast by Different Segment | 2024-2030
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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