Stevia Market to Reach $ 1,714.27 Million, Globally, by 2030 at 10.20% CAGR with Whole Leaf Segment Driving Growth During 2023–2030 | The Insight Partners
Research Reports
Sep 15, 2023
Stevia Market Analysis:
The global Stevia Market will touch USD 1,714.27 million at a 10.20% CAGR by 2030, as per the recent Market Research Future report.
Drivers
Growing Need for Natural Sweeteners to Boost Market Growth
As consumer knowledge of health issues rises, most consumers, particularly in industrialized nations like the United Kingdom, the United States, & Germany, carefully read product labels before making a purchase. Manufacturers have started using natural sweeteners in place of high-calorie polyols as a consequence of consumer awareness. Alternative sweeteners like stevia are increasingly displacing sugar alcohols such as sorbitol and maltitol on the market since they have been associated with gastrointestinal problems. Clean labeling has spurred a demand for natural sweeteners, notably stevia. In response, the food and beverage industries have used stevia as a natural, clean-label sweetener through product innovation.
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Opportunities
Increasing Adoption in Cosmetics Industry to offer Robust Opportunities
Stevia is a natural component used in the cosmetics industry to create smooth, supple, wrinkle-free skin. It has an aqueous extract which stops the development of germs, soothes irritation, and stops acne.
Restraints and Challenges
Bitter Aftertaste to act as Market Restraint
The bitter aftertaste of stevia and price fluctuation of stevia leaves may act as market restraints over the forecast period. Besides, the COVID-19 impact may also impede market growth.
Market Segmentations:
The global stevia market is bifurcated based on distribution channel, application, nature, and type.
By type, powder extract will lead the market over the forecast period.
By nature, regular will domineer the market over the forecast period.
By application, commercial will spearhead the market over the forecast period.
By distribution channel, offline will spur the market over the forecast period.
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Regional Analysis:
APAC to Head Stevia Market
The biggest market share for the stevia market has been held by the Asia-Pacific region. The area boasts the highest population density on the planet and a number of quickly expanding economies. The region’s top producer of stevia is China, and this industry is expected to expand in the years to come. The stevia market in Asia Pacific is anticipated to have consistent revenue growth over the following years. The primary elements considered as the development propellers for stevia market within the Asia Pacific are the rising awareness regarding the use of conventional sugar along with related health risks. Additionally, businesses in the Asia Pacific region are concentrating on environmental sustainability and development acquisition strategies.
Key Players:
Eminent industry players profiled in the global stevia market report include Cargill, Incorporated (US), Ingredion Incorporated (US), Tate & Lyle PLC. (UK), Archer-Daniels-Midland Company (ADM) (US), Tereos (France), GLG LIFE TECH CORP. (Canada), NOW Foods (US), Fooding Group Limited (China), HOWRAIN (China), and Sunwin Stevia International Inc (China).
Key players have incorporated several strategies to stay ahead such as acquisitions, mergers, new product launch, and more.
Related Reports:
Sugar Substitutes Market Research Report Information By Type (Stevia, Xylitol, Erythritol, Saccharin, Sucralose, and Honey), By Category (Natural, Synthetic, and Others), By Distribution Channel (Store-Based and Non-Store-Based), And By Region (North America, Europe, Asia-Pacific, And the Rest Of The World) – Market Forecast Till 2030
Alternative Sweeteners Market Research Report Information by Product type (Synthetic, (Aspartame, Acesulfame-K, Sucralose, and Saccharin,) and Natural (Stevia, Sorbitol, Xylitol, and Erythritol), by Application (Food & Beverages (Bakery & Confectionary, Beverages, Dairy & Frozen Desserts, Sweet & Savory Snacks, and Others), Pharmaceutical & Nutraceuticals, Animal feed, and Others) and Region—Forecast till 2030
Low-Calorie Sweeteners Market Research Report Information By Category (Natural and Synthetic), By Type (Aspartame, Saccharin, Sorbitol, Stevia, Xylitol and Others), By Application (Bakery & Confectionery, Beverages, Dairy & Frozen Dessert, Sweet & Savoury Snacks and Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032
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