Stevia Market: Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Product Type, by Form, by End Use Application

  • 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.

  • Format : PDF | Report ID : SMR_2218

Stevia Market Overview:

Stevia refers to a natural sweetener and sugar substitute derived from the leaves of the plant species Stevia rebaudiana. It is known for its intensely sweet taste, which comes from compounds called steviol glycosides found in the leaves. Stevia is widely used as a sugar alternative in food and beverages, often marketed as a healthier option due to its zero-calorie nature and lower impact on blood sugar levels compared to sugar.

 

The stevia market has seen remarkable growth and diversification driven by innovations and product developments. Innovations such as improved extraction techniques and enhanced purity levels have expanded stevia's applications in food and beverages. These advancements have not only increased availability but also lowered production costs, making stevia economically competitive against traditional sweeteners like sugar.

 

Globally, the stevia market has been growing at an average annual rate of X-XX%. Key drivers include rising consumer demand for natural and low-calorie sweeteners due to increasing concerns about diabetes and obesity rates, particularly notable in regions like North America, Europe, and Asia-Pacific. Regulatory support, such as approvals from FDA and EFSA, has also played a crucial role, boosting market penetration by validating safety and efficacy claims.

 

Opportunities abound as awareness of health benefits drives consumer preference for stevia. Market share within the sweeteners segment has grown to approximately XX% globally, with projections indicating continued expansion. Challenges, however, include supply chain disruptions, which have constrained production and raised prices.

 

Segment-wise, stevia extracts dominate sales (XX%), followed by stevia-based sweeteners (XX%) and stevia-infused products (XX%). In terms of end-use applications, the food and beverage sector leads, driven by stevia's zero-calorie appeal in beverages, confectionery, and dairy products. Other sectors like pharmaceuticals and personal care also show promising growth due to increased adoption of stevia in dietary supplements and skincare products.

 

Regionally, North America holds the largest market share (XX%), driven by consumer preference for natural alternatives and stringent regulations favouring low-calorie options. Europe follows with XX%, supported by regulatory approvals and health-conscious consumers. Asia-Pacific is the fastest-growing region (XX%), fuelled by cultivation in countries like China and India and rising health awareness.

Stevia Market

 

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Stevia Market Trend:

Innovations and Product Development:

Innovations and product developments have significantly influenced the stevia market, driving growth and diversification. Advances such as improved extraction techniques, enhanced purity levels, and expanded applications in food and beverage sectors have propelled market expansion. These innovations have not only increased the availability of high-purity stevia extracts but also lowered production costs, making stevia a more economically viable sweetener compared to traditional alternatives like sugar.

 

The stevia market has experienced substantial growth, with annual increases averaging around X-XX% globally. This growth is fuelled by rising consumer demand for natural and low-calorie sweeteners amidst health concerns related to sugar consumption. Innovative product formulations, including blends with other natural sweeteners or functional ingredients, have further broadened stevia's appeal across various food and beverage categories

 

Stevia Market Dynamics:

Increasing Diabetes and Obesity Rates:

The increasing rates of diabetes and obesity have notably impacted the stevia market. As awareness of health risks associated with sugar consumption grows, there has been a notable shift towards low-calorie sweeteners like stevia. In the United States alone, where obesity rates have risen to XX% and diabetes affects about XX% of the population, there's a heightened demand for healthier alternatives. Stevia, being a natural sweetener with zero calories and a low glycemic index, has gained popularity. This trend is mirrored globally, with regions like Europe and Asia-Pacific also experiencing rising diabetes and obesity rates.

 

Regulatory Support:

Regulatory support plays a pivotal role in shaping the stevia market by providing a framework for product safety, labelling standards, and market access.

  • For instance, regulatory approvals from bodies like the FDA and EFSA significantly enhance consumer confidence, driving market growth. Studies indicate that regulatory clearances can boost market penetration by up to XX%, as they validate safety and efficacy claims, crucial for consumer acceptance. Moreover, streamlined regulatory processes reduce market entry barriers, encouraging innovation and investment in stevia-based products. This support fosters a competitive landscape where companies can focus on product development rather than navigating complex regulatory environments. Overall, robust regulatory support not only ensures compliance but also stimulates market expansion, projecting stevia as a viable alternative in the sweetener market.

 

Stevia Market Opportunities:

Rising Awareness:

Rising awareness about health and wellness benefits has boosted the stevia market. As consumers become more health-conscious, there's a growing preference for natural sweeteners like stevia over traditional sugars due to their low-calorie content and minimal impact on blood sugar levels. This shift in consumer preferences has driven substantial growth in the stevia market, with an annual increase of approximately 8% globally. Increased awareness campaigns highlighting stevia's benefits as a natural alternative to artificial sweeteners have also played a crucial role, influencing consumer choices in beverages, confectionery, and dietary products. As a result, the market share of stevia in the overall sweeteners segment has risen notably, reaching around XX% globally, with projections indicating further expansion as health trends continue to drive demand for healthier alternatives.

 

Stevia Market Challenges:

Supply Chain Issues:

Supply chain issues, such as disruptions in logistics and raw material shortages, significantly impact the stevia market. These challenges often lead to increased costs of production and delays in delivery, affecting both suppliers and consumers.

  • For instance, a 2023 report indicated that supply chain disruptions caused a XX% reduction in stevia production output in major producing regions like South America and Southeast Asia. This reduction not only constrained supply but also drove up prices by approximately XX%, influencing consumer purchasing decisions and market dynamics. Consequently, companies in the stevia industry are focusing on enhancing supply chain resilience through diversification of suppliers, local sourcing strategies, and investment in technology to mitigate future risks and stabilize market conditions.

 

Import and Export Analysis of Stevia Market:

  • Key Exporting Countries

China: The largest producer and exporter of stevia products, China dominates the global market. The country benefits from a favourable climate for stevia cultivation and advanced processing technologies.

 

India: Emerging as a significant player, India has been expanding its stevia cultivation and export capacities.

 

Paraguay: Known as the birthplace of stevia, Paraguay remains a notable exporter, particularly of raw stevia leaves.

 

Argentina: Another important exporter from South America, focusing on both raw leaves and processed stevia extracts.

 

  • Key Importing Countries

United States: A major consumer of stevia products, the US imports significant quantities for use in food and beverage industries.

 

European Union: Countries like Germany, France, and the UK are substantial importers, driven by increasing consumer demand for low-calorie and natural sweeteners.

 

Japan: One of the early adopters of stevia, Japan imports considerable amounts to meet its domestic demand.

 

South Korea: Another significant importer in Asia, driven by a health-conscious population.

 

Stevia Market Segment Analysis:

By Product Type: Stevia Extracts is the dominant segment in stevia market, encompassing various stevia leaf extracts with different levels of purification. Reb A, the sweetest component of stevia, is often isolated for a more concentrated sweetener. Stevia-Based Sweeteners segment includes finished products like table-top sweeteners, liquid stevia drops, and stevia blends (mixed with other sweeteners to improve taste profile). Stevia-infused products is an emerging segment where stevia is incorporated into food and beverages like yogurt, baked goods, and sugar-free drinks

 

By End-Use Application: Food & Beverage Industry is the largest application segment, with stevia used in various products like yogurt, soft drinks, baked goods, confectionery, and sugar-free treats, such increased applications have positive impact on the stevia market growth.

 

In pharmaceuticals Stevia's potential health benefits like blood sugar management are leading to its exploration in diabetic supplements and functional foods.

 

In personal care low-calorie and sugar-free cosmetics like toothpaste and lip balms are increasingly using stevia as a natural sweetener.

Stevia Market1

By Form: Dry stevia and liquid stevia are two predominant forms of stevia sweeteners that impact the global market differently. Dry stevia, typically in powdered or granulated form, holds a significant share in the market, approximately XX%. It is favoured for its ease of handling, longer shelf life, and suitability for various applications, including baking and cooking. On the other hand, liquid stevia, comprising about XX% of the market, is valued for its convenience in liquid form, making it ideal for beverages and liquid-based products.

 

Stevia Market Regional Insights:

North America holds a significant share, approximately XX% of the global stevia market, driven by increasing consumer preference for natural sweeteners and stringent regulations favouring low-calorie alternatives. The United States, as a major consumer, influences market growth through expanded product availability in beverages and packaged foods.

 

In Europe, the stevia market comprises around XX% of the global share, driven by regulatory approvals for stevia-based products and rising consumer awareness of health concerns related to sugar consumption. Countries like Germany and France lead in market penetration, with widespread use in dairy products, bakery items, and confectioneries.

 

Asia Pacific, holding approximately XX% of the global stevia market, is the fastest-growing region, fuelled by extensive cultivation in countries like China and India. Increasing health consciousness among consumers and the demand for natural ingredients in food and beverages contribute significantly to market expansion. Japan remains a key market due to early adoption and regulatory support for stevia-derived sweeteners.

 

Latin America and the Middle East & Africa collectively account for about XX% of the global stevia market share.

Stevia Market2

Stevia Market Competitive Landscape:

In 2022, Sweegen introduced Bestevia LQ, a collection of liquid stevia-based sweeteners, at IFT FIRST, the Institute of Food Technologists’ meeting and exposition taking place July 10-13 in Chicago. The sweeteners are designed to reduce sugar in applications like carbonated soft drinks, confectionery items, liquid sweeteners, dessert toppings and concentrated fruit/flavored syrup.

 

July 01, 2020 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to diversified industries, today announced the completion of its acquisition of PureCircle Limited, the world’s leading producer and innovator of plant-based stevia sweeteners and flavors for the food and beverage industry.

 

Stevia Market Scope:

Stevia Market

Market Size in 2023

USD 780 million.

Market Size in 2030

USD 1751 million.

CAGR (2024(2030)

12.53%

Historic Data

2018-2022

Base Year

2023

Forecast Period

2024-2030

Stevia Market Segments

By Product Type

Stevia Extracts

Stevia-Based Sweeteners

Stevia-Infused Products

By End-Use Application

Food & Beverage Industry

Pharmaceuticals

Personal Care

By Form

Dry Stevia

Liquid Stevia

Regional Scope

North America -United States, Canada, and Mexico

Europe – UK, France, Germany, Italy, Spain, Russia, Austria, and Rest of Europe

Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC

Middle East and Africa ( South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa

South America – Brazil, Argentina, Rest of South America

 

Stevia Market Key Players:

  • Tate & Lyle PLC
  • Archer Daniels Midland Company
  • 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


Frequently Asked Questions

The Global Stevia Market is growing at a significant rate of 12.53% during the forecast period.

1.    Stevia Market: Research Methodology 
2.    Stevia Market: Executive Summary
3.    Stevia Market: Competitive Landscape

3.1. Stellar Competition Matrix
3.2. Competitive Landscape
3.3. Key Players Benchmarking
3.4. Market Structure
3.4.1.    Market Leaders 
3.4.2.    Market Followers
3.4.3.    Emerging Players

3.5. Consolidation of the Market
3.6. Global Import-Export Analysis
4.    Stevia Market: Dynamics
4.1. Market Driver 
4.2. Market Trends 
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Challenges
4.6. PORTER’s Five Forces Analysis
4.7. PESTLE Analysis
4.8. Strategies for New Entrants to Penetrate the Market
4.9. Regulatory Landscape by Region
4.9.1.    North America
4.9.2.    Europe
4.9.3.    Asia Pacific
4.9.4.    Middle East and Africa
4.9.5.    South America

5.    Stevia Market Size and Forecast by Segments (by Value in USD Million)
5.1. Stevia Market Size and Forecast, by Product Type (2023-2030)
5.1.1.    Stevia Extracts
5.1.2.    Stevia-Based Sweeteners
5.1.3.    Stevia-Infused Products 

5.2. Stevia Market Size and Forecast, by End-Use Application (2023-2030)
5.2.1.    Food & Beverage Industry
5.2.2.    Pharmaceuticals
5.2.3.    Personal Care

5.3. Stevia Market Size and Forecast, by Form (2023-2030)
5.3.1.    Dry Stevia 
5.3.2.    Liquid Stevia 

5.4. Stevia Market Size and Forecast, by Region (2023-2030)
5.4.1.    North America
5.4.2.    Europe
5.4.3.    Asia Pacific
5.4.4.    Middle East and Africa
5.4.5.    South America

6.    North America Stevia Market Size and Forecast (by Value in USD Million )
6.1. North America Stevia Market Size and Forecast, by Product Type (2023-2030)
6.1.1.    Stevia Extracts
6.1.2.    Stevia-Based Sweeteners
6.1.3.    Stevia-Infused Products 

6.2. North America Stevia Market Size and Forecast, by End-Use Application (2023-2030)
6.2.1.    Food & Beverage Industry
6.2.2.    Pharmaceuticals
6.2.3.    Personal Care

6.3. North America Stevia Market Size and Forecast, by Form (2023-2030)
6.3.1.    Dry Stevia 
6.3.2.    Liquid Stevia 

6.4. North America Stevia Market Size and Forecast, by Country (2023-2030)
6.4.1.    United States
6.4.2.    Canada
6.4.3.    Mexico

7.    Europe Stevia Market Size and Forecast (by Value in USD Million )
7.1. Europe Stevia Market Size and Forecast, by Product Type (2023-2030)
7.1.1.    Stevia Extracts
7.1.2.    Stevia-Based Sweeteners
7.1.3.    Stevia-Infused Products 

7.2. Europe Stevia Market Size and Forecast, by End-Use Application (2023-2030)
7.2.1.    Food & Beverage Industry
7.2.2.    Pharmaceuticals
7.2.3.    Personal Care

7.3. Europe Stevia Market Size and Forecast, by Form (2023-2030)
7.3.1.    Dry Stevia 
7.3.2.    Liquid Stevia 

7.4. Europe Stevia Market Size and Forecast, by Country (2023-2030)
7.4.1.    UK
7.4.2.    France
7.4.3.    Germany
7.4.4.    Italy
7.4.5.    Spain
7.4.6.    Sweden
7.4.7.    Austria
7.4.8.    Rest of Europe

8.    Asia Pacific Stevia Market Size and Forecast (by Value in USD Million )
8.1. Asia Pacific Stevia Market Size and Forecast, by Product Type (2023-2030)
8.1.1.    Stevia Extracts
8.1.2.    Stevia-Based Sweeteners
8.1.3.    Stevia-Infused Products 

8.2. Asia Pacific Stevia Market Size and Forecast, by End-Use Application (2023-2030)
8.2.1.    Food & Beverage Industry
8.2.2.    Pharmaceuticals
8.2.3.    Personal Care

8.3. Asia Pacific Stevia Market Size and Forecast, by Form (2023-2030)
8.3.1.    Dry Stevia 
8.3.2.    Liquid Stevia 

8.4. Asia Pacific Stevia Market Size and Forecast, by Country (2023-2030)
8.4.1.    China
8.4.2.    S Korea
8.4.3.    Japan
8.4.4.    India
8.4.5.    Australia
8.4.6.    Indonesia 
8.4.7.    Malaysia
8.4.8.    Vietnam
8.4.9.    Taiwan
8.4.10.    Bangladesh 
8.4.11.    Pakistan
8.4.12.    Rest of Asia Pacific

9.    Middle East and Africa Stevia Market Size and Forecast (by Value in USD Million)
9.1. Middle East and Africa Stevia Market Size and Forecast, by Product Type (2023-2030)
9.1.1.    Stevia Extracts
9.1.2.    Stevia-Based Sweeteners
9.1.3.    Stevia-Infused Products 

9.2. Middle East and Africa Stevia Market Size and Forecast, by End-Use Application (2023-2030)
9.2.1.    Food & Beverage Industry
9.2.2.    Pharmaceuticals
9.2.3.    Personal Care

9.3. Middle East and Africa Stevia Market Size and Forecast, by Form (2023-2030)
9.3.1.    Dry Stevia 
9.3.2.    Liquid Stevia 

9.4. Middle East and Africa Single-Use Filtration Assembly Market Size and Forecast, by Country (2023-2030)
9.4.1.    South Africa
9.4.2.    GCC
9.4.3.    Egypt
9.4.4.    Nigeria
9.4.5.    Rest of ME&A

10.    South America Stevia Market Size and Forecast (by Value in USD Million)
10.1. South America Stevia Market Size and Forecast, by Product Type (2023-2030)
10.1.1.    Stevia Extracts
10.1.2.    Stevia-Based Sweeteners
10.1.3.    Stevia-Infused Products 

10.2. South America Stevia Market Size and Forecast, by End-Use Application (2023-2030)
10.2.1.    Food & Beverage Industry
10.2.2.    Pharmaceuticals
10.2.3.    Personal Care

10.3. South America Stevia Market Size and Forecast, by Form (2023-2030)
10.3.1.    Dry Stevia 
10.3.2.    Liquid Stevia 

10.4. South America Stevia Market Size and Forecast, by Country (2023-2030)
10.4.1.    Brazil
10.4.2.    Argentina
10.4.3.    Rest of South America

11.    Company Profile: Key players
11.1.1.    Ingredion Incorporated
11.1.2.    Company Overview
11.1.3.    Financial Overview
11.1.4.    Business Portfolio
11.1.5.    SWOT Analysis
11.1.6.    Business Strategy 
11.1.7.    Recent Developments

11.2. Tate & Lyle PLC
11.3. Archer Daniels Midland Company
11.4. Cargill Incorporated
11.5. Zhucheng Haotian Pharma Co. Ltd.
11.6. BENEO (SUDZUCKER Group)
11.7. Foodchem International Corporation
11.8. FRAKEN BIOCHEM CO. LTD.
11.9. Haihang Industry Co.,Ltd.
11.10. PureCircle Ltd
11.11. GLG Life Tech Corporation
11.12. Wild Flavors and Specialty Ingredients
11.13. Sunwin Stevia International, Inc.
11.14. Meiji Food & Pharmaceutical Co., Ltd.
11.15. Evolva
11.16. Pyure
11.17. Lesaffre
11.18. Jiaxing Stevia Bio-Technology Co., Ltd.
11.19. Stevia Extracts Australia Pty Ltd
11.20. Sweet Greenfields Stevia
12.    Key Findings
13.    Industry Recommendations 

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