Stevia Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029
Stevia Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029
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.
This study provides a particularized anatomy according to the L.E.A.P mechanism
- Latest trends and cardinal growth prospects
- Existing and future insights in growth
- Ascensions in technology
- Pain points
The regional analysis offers market assays across:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
Pain Points
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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