Stevia Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029
Global Stevia Market: Overview
The growing demand for artificial sweeteners has created humongous opportunities for growth across the global stevia market. The use of stevia as a sugar substitute has helped market vendors in tapping into the propensities of the consumers. Sugar substitute contain much lesser number of calories and food energy, making them a viable option for diabetics and other patients. The incidence of diabetes and other chronic conditions that necessitate control over calorie intake has increased in recent years. For this reason, several types of artificial sweeteners have made a niche for themselves across the shelves of retail outlets. In view of the factors mentioned herein, it is legit to be expect that the global stevia market would grow by leaps and bounds in the times to follow.
In this review, TMR Research decrypts an array of trends that have been conducive to the growth of the global stevia market. Medical benefits of using stevia in place or sugar have been at the helm of market growth and expansion. In addition to this, growing demand for natural and artificial sweeteners has also generated fresh revenues within the global stevia market.
Global Stevia Market: Key Developments
The medical and food industries have played a crucial role in directing the growth graph of the global stevia market.
Global Stevia Market: Growth Drivers
Stevia is derived from specialized plant species that are native to the lands of Paraguay and Brazil. For this reason, the export dynamics of stevia largely rely on the policies and taxes levied by these countries on foreign sales. Several countries have started the cultivation of stevia rebaudiana, the plant group that is the primary source of the sweetener. The pH-stable and heat-stable nature of stevia has helped several for manufacturers in substituting sugar with stevia. Furthermore, stevia is several times sweeter than sugar, another important factor responsible for the use of this compounds in certain food ingredients.
Different countries have their own sets of regulations governing the use of stevia in the medical, food, and healthcare industries. Stevia has been approved as a good additive in several countries, while it has gained the status of a dietary supplement/medical drugs in others. This factor shall play an integral role in driving sales across the global stevia market. The Food and Drug Administration (FDA) has not approved the use of stevia in food products. This could be a setback to the growth of the global stevia market. However, the European Union approved the usage of stevia additives, creating new pathways to market growth.
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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