Stevia Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029

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Stevia Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029

Status : August, 2020 | Food and Beverages | PPT format

Report Digest

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.

  • Nutritionists have constantly dispelled key information with regard to the use of stevia as a food supplement or sugar substitute. The growing inclination of the masses towards following low-calorie diets has created a range of opportunities for growth within the global stevia market. The vendors operating in the stevia market can capitalise on the unmet demands of diabetics and other persona suffering from chronic diseases.
  • The International Stevia Council (ISC) has led several conversations around the use and perceptions about stevia. The ISC conducted a survey in 2013 to understand the propensities and perceptions of the masses about stevia. Consequently, this sugar substitute was found to be the most talked about artificial sweetener amongst the masses.

Key Players

  • Cargill
  • PureCircle Ltd.
  • Ingredion Inc.

Global Stevia Market: Growth Drivers

  • Availability of Stevia Derivatives

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.

  • Role of FDA in Market Expansion

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:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

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:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

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.