Stevia is a sweetener, and hence also used as a sugar substitute. It is extracted from the leaves of Stevia rebaudiana. However, as it is derived from plants, it is not included under the artificial sweetener category. it sweetens food without adding to the blood glucose levels or carbohydrates. It has no calories in its pure form.
However, usage of raw stevia leaves has remained under medical and scientific scrutiny and examination. While the US FDA allows only purified form of stevia for consumption purpose Japan and South American countries such as Paraguay and Brazil have been using natural stevia leaves since many years for sweetening and therapeutic purposes.
Sample Infographics:
The global Stevia Market was valued at USD 443.61 million in 2016 and is projected to reach USD 979.49 million by 2025, growing at a CAGR of 11.3% from 2017 to 2025.
Market Dynamics:
1. Market Drivers
1.1 Shifting consumer preference to natural sweeteners
1.2 Growing modern retail, urbanization, and health concerns
1.3 R&D and new product development in the field of Stevia
2. Market Restraints
2.1 Stevia leaf prices fluctuation
2.2 Lack of awareness about the benefits of Stevia in some regions
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Market Segmentation:
The global Stevia Market is segmented on the basis of extract type, form, application, and region.
1. Global Stevia Market, by Extract Type:
1.1 Powder
1.2 Liquid
1.3 Leaf
2. Global Stevia Market, by Form:
2.1 Dry
2.2 Liquid
3. Global Stevia Market, by Application:
3.1 Dairy Food Products
3.2 Bakery Products
3.3 Dietary Supplements
3.4 Confectionery
3.5 Beverages Beverages
3.6 Packaged Food Products
3.7 Others
4. Global Stevia Market, by Region:
4.1 North America U.S., Canada, Mexico
4.2 Europe Germany, UK, France, Rest of Europe
4.3 Asia Pacific China, India, Japan, Rest of Asia Pacific
4.4 Latin America Brazil, Argentina, Rest of Latin America
4.5 Middle East & Africa
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Competitive Landscape:
The major players in the market are as follows:
1. Nestlé S.A.
2. The Coca-Cola Company
3. PepsiCo Inc.
4. Cargill Inc.
5. Evolva Holding S.A.
6. PureCircle Ltd.
7. Stevia Corp.
8. Ingredion Inc.
9. GLG Life Tech Corp.
10. Tate & Lyle Plc.
11. Zhucheng Haotian Pharm Co. Ltd
12. Morita Kagakau Kogyo Co. Ltd.
13. S&W Seed Company
14. Sunwin Stevia International, Inc.
15. Pyure Brands LLC
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Research Methodology of Planet Market Reports
Research study on the Stevia Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the Research Methodology of Planet Market Reports and other aspects of the research study, kindly get in touch with our sales team.
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