The worldwide sugar reduction fallout was one of the first factors driving markets for healthy artificial sweeteners. Global stevia market specifically gained significantly from the increased rate of adoption across beverage categories like sodas, juices, and flavoured water varieties. A newly published Fairfield Market Research study forecasts a robust growth outlook for global stevia market. The market according to the report will rise high, up from nearly US$780 Mn attained in the year 2021, to around US$1,621 Mn toward the end of 2029. Escalating demand for nutraceuticals will keep stevia consumption upbeat, in turn fuelling the expansion of global stevia market, says the report.
Key Insights and Trends Across Global Stevia Market:
- Escalating demand for nutraceuticals will favour the growth of stevia market
- Global stevia market size is slated for around 9.6% expansion in terms of revenue between 2022 and 2029
- Asia Pacific will most likely remain the leading regional market for stevia brands and demonstrate the fastest rate of growth through the end of 2029
- The uncertainty hovering over the pricing of stevia leaf prevails as the key impediment for rapid market growth
Stevia Market Players to See Lucrative Opportunities Flock Food and Beverages Industry
Stevia leaf extracts are currently among the most popular sweeteners and frequent innovation around the same will unlock multiple opportunities across several other F&B categories during the forecast period. The report suggests that the stevia market will remain on an uptrend in line with growing usage of stevia-based sweeteners for new launches in industry. While the traditional sweetening agents have been facing remarkable backlash over the past decade, F&B sectors like beverages, dairy, confectionary, and bakery have been rapidly shifting their preferences toward stevia. Besides their economic benefit, traditional sweeteners continue to be in the race with their ease of use during processing, and widespread availability. However, stevia-based formulations of sweetened products are touted to be superior in terms of sweetness, texture, mouthfeel, crystallization, flavour, shelf-life, colour, and flavour. Stevia market has thus been making inroads into the food and beverages industry, says the report.
Asia Pacific Holds the Promise to Unlock Multiple Opportunities for Stevia Market
Health concerns around sugar consumption prevail worldwide, which has also been influencing conventional sweetening agents that are typically used by processed food and beverage manufacturers. Stevia has thus been penetrating faster across the processed F&B sector, especially in Asia Pacific. Stevia market in the region is expected to thrive at a notable pace and the report clearly attributes this growth to frequent new launches, and growing awareness about lifestyle diseases like obesity and IBD. The expanding health food culture across the key Asian markets, and rising performance of healthy F&B categories are projected to provide the stevia market in the region with a strong impetus, suggests the report. China remains the world's largest producer and importer.
Key Players in Global Stevia Market
The report dedicates a section to the competition analysis of the highly diversified, and competitive stevia market. Some of the significant players that have been covered here for detailed strategic profiling and analysis include Ingredion Incorporated, Cargill Inc, and Archer-Daniels-Midland Company.
Table of Contents
1. Executive Summary
- 1.1. Global Stevia Market Snapshot
- 1.2. Future Projections
- 1.3. Key Market Trends
- 1.4. Analyst Recommendations
2. Market Overview
- 2.1. Market Definitions
- 2.2. Market Taxonomy
- 2.3. Market Dynamics
- 2.3.1. Drivers
- 2.3.2. Restraints
- 2.4. Value Chain Analysis
- 2.5. Porter's Five Forces Analysis
- 2.6. COVID-19 Impact Analysis
- 2.7. Key Patents
3. Global Stevia Market Outlook, 2019 - 2029
- 3.1. Global Stevia Market Outlook, by Form, Value (US$ '000), 2019 - 2029
- 3.1.1. Key Highlights
- 3.1.1.1. Liquid
- 3.1.1.2. Dry
- 3.1.2. BPS Analysis/Market Attractiveness Analysis
- 3.2. Global Stevia Market Outlook, by Extract, Value (US$ '000), 2019 - 2029
- 3.2.1. Key Highlights
- 3.2.1.1. Whole leaf
- 3.2.1.2. Powdered
- 3.2.1.3. Liquid
- 3.2.2. BPS Analysis/Market Attractiveness Analysis
- 3.3. Global Stevia Market Outlook, by Application, Value (US$ '000), 2019 - 2029
- 3.3.1. Key Highlights
- 3.3.1.1. Dairy
- 3.3.1.2. Bakery & confectionery
- 3.3.1.3. Tabletop sweeteners
- 3.3.1.4. Beverages
- 3.3.1.5. Convenience foods
- 3.3.1.6. Others
- 3.3.2. BPS Analysis/Market Attractiveness Analysis
- 3.4. Global Stevia Market Outlook, by Region, Value (US$ '000), 2019 - 2029
- 3.4.1. Key Highlights
- 3.4.1.1. North America
- 3.4.1.2. Europe
- 3.4.1.3. Asia Pacific
- 3.4.1.4. Latin America
- 3.4.1.5. Middle East & Africa
- 3.4.2. BPS Analysis/Market Attractiveness Analysis
4. North America Stevia Market Outlook, 2019 - 2029
- 4.1. North America Stevia Market Outlook, by Form, Value (US$ '000), 2019 - 2029
- 4.1.1. Key Highlights
- 4.1.1.1. Liquid
- 4.1.1.2. Dry
- 4.1.2. BPS Analysis/Market Attractiveness Analysis
- 4.2. North America Stevia Market Outlook, by Extract, Value (US$ '000), 2019 - 2029
- 4.2.1. Key Highlights
- 4.2.1.1. Whole leaf
- 4.2.1.2. Powdered
- 4.2.1.3. Liquid
- 4.2.2. BPS Analysis/Market Attractiveness Analysis
- 4.3. North America Stevia Market Outlook, by Application, Value (US$ '000), 2019 - 2029
- 4.3.1. Key Highlights
- 4.3.1.1. Dairy
- 4.3.1.2. Bakery & confectionery
- 4.3.1.3. Tabletop sweeteners
- 4.3.1.4. Beverages
- 4.3.1.5. Convenience foods
- 4.3.1.6. Others
- 4.3.2. BPS Analysis/Market Attractiveness Analysis
- 4.4. North America Stevia Market Outlook, by Country, Value (US$ '000), 2019 - 2029
- 4.4.1. Key Highlights
- 4.4.1.1. U.S. Stevia Market by Value (US$ '000), 2019 - 2029
- 4.4.1.2. Canada Stevia Market by Value (US$ '000), 2019 - 2029
- 4.4.2. BPS Analysis/Market Attractiveness Analysis
5. Europe Stevia Market Outlook, 2019 - 2029
- 5.1. Europe Stevia Market Outlook, by Form, Value (US$ '000), 2019 - 2029
- 5.1.1. Key Highlights
- 5.1.1.1. Liquid
- 5.1.1.2. Dry
- 5.1.2. BPS Analysis/Market Attractiveness Analysis
- 5.2. Europe Stevia Market Outlook, by Extract, Value (US$ '000), 2019 - 2029
- 5.2.1. Key Highlights
- 5.2.1.1. Whole leaf
- 5.2.1.2. Powdered
- 5.2.1.3. Liquid
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
- 5.3. Europe Stevia Market Outlook, by Application, Value (US$ '000), 2019 - 2029
- 5.3.1. Key Highlights
- 5.3.1.1. Dairy
- 5.3.1.2. Bakery & confectionery
- 5.3.1.3. Tabletop sweeteners
- 5.3.1.4. Beverages
- 5.3.1.5. Convenience foods
- 5.3.1.6. Others
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
- 5.4. Europe Stevia Market Outlook, by Country, Value (US$ '000), 2019 - 2029
- 5.4.1. Key Highlights
- 5.4.1.1. Germany Stevia Market by Value (US$ '000), 2019 - 2029
- 5.4.1.2. France Stevia Market by Product, Value (US$ '000), 2019 - 2029
- 5.4.1.3. U.K. Stevia Market by Value (US$ '000), 2019 - 2029
- 5.4.1.4. Italy Stevia Market by Value (US$ '000), 2019 - 2029
- 5.4.1.5. Spain Stevia Market by Product, Value (US$ '000), 2019 - 2029
- 5.4.1.6. Rest of Europe Stevia Market Value (US$ '000), 2019 - 2029
- 5.4.2. BPS Analysis/Market Attractiveness Analysis
6. Asia Pacific Stevia Market Outlook, 2019 - 2029
- 6.1. Asia Pacific Stevia Market Outlook, by Form, Value (US$ '000), 2019 - 2029
- 6.1.1. Key Highlights
- 6.1.1.1. Liquid
- 6.1.1.2. Dry
- 6.1.2. BPS Analysis/Market Attractiveness Analysis
- 6.2. Asia Pacific Stevia Market Outlook, by Extract, Value (US$ '000), 2019 - 2029
- 6.2.1. Key Highlights
- 6.2.1.1. Whole leaf
- 6.2.1.2. Powdered
- 6.2.1.3. Liquid
- 6.2.2. BPS Analysis/Market Attractiveness Analysis
- 6.3. Asia Pacific Stevia Market Outlook, by Application, Value (US$ '000), 2019 - 2029
- 6.3.1. Key Highlights
- 6.3.1.1. Dairy
- 6.3.1.2. Bakery & confectionery
- 6.3.1.3. Tabletop sweeteners
- 6.3.1.4. Beverages
- 6.3.1.5. Convenience foods
- 6.3.1.6. Others
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
- 6.4. Asia Pacific Stevia Market Outlook, by Country, Value (US$ '000), 2019 - 2029
- 6.4.1. Key Highlights
- 6.4.1.1. India Stevia Market by Value (US$ '000), 2019 - 2029
- 6.4.1.2. China Stevia Market by Value (US$ '000), 2019 - 2029
- 6.4.1.3. Japan Stevia Market by Value (US$ '000), 2019 - 2029
- 6.4.1.4. Australia & New Zealand Stevia Market Value (US$ '000), 2019 - 2029
- 6.4.1.5. Rest of Asia Pacific Market by Value (US$ '000), 2019 - 2029
- 6.4.2. BPS Analysis/Market Attractiveness Analysis
7. Latin America Stevia Market Outlook, 2019 - 2029
- 7.1. Latin America Stevia Market Outlook, by Form, Value (US$ '000), 2019 - 2029
- 7.1.1. Key Highlights
- 7.1.1.1. Liquid
- 7.1.1.2. Dry
- 7.1.2. BPS Analysis/Market Attractiveness Analysis
- 7.2. Latin America Stevia Market Outlook, by Extract, Value (US$ '000), 2019 - 2029
- 7.2.1. Key Highlights
- 7.2.1.1. Whole leaf
- 7.2.1.2. Powdered
- 7.2.1.3. Liquid
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
- 7.3. Latin America Stevia Market Outlook, by Application, Value (US$ '000), 2019 - 2029
- 7.3.1. Key Highlights
- 7.3.1.1. Dairy
- 7.3.1.2. Bakery & confectionery
- 7.3.1.3. Tabletop sweeteners
- 7.3.1.4. Beverages
- 7.3.1.5. Convenience foods
- 7.3.1.6. Others
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
- 7.4. Latin America Stevia Market Outlook, by Country, Value (US$ '000), 2019 - 2029
- 7.4.1. Key Highlights
- 7.4.1.1. Brazil Stevia Market by Value (US$ '000), 2019 - 2029
- 7.4.1.2. Mexico Stevia Market by Value (US$ '000), 2019 - 2029
- 7.4.1.3. Rest of Latin America Stevia Market by Value (US$ '000), 2019 - 2029
- 7.4.2. BPS Analysis/Market Attractiveness Analysis
8. Middle East & Africa Stevia Market Outlook, 2019 - 2029
- 8.1. Middle East & Africa Stevia Market Outlook, by Form, Value (US$ '000), 2019 - 2029
- 8.1.1. Key Highlights
- 8.1.1.1. Liquid
- 8.1.1.2. Dry
- 8.1.2. BPS Analysis/Market Attractiveness Analysis
- 8.2. Middle East & Africa Stevia Market Outlook, by Extract, Value (US$ '000), 2019 - 2029
- 8.2.1. Key Highlights
- 8.2.1.1. Whole leaf
- 8.2.1.2. Powdered
- 8.2.1.3. Liquid
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
- 8.3. Middle East & Africa Stevia Market Outlook, by Application, Value (US$ '000), 2019 - 2029
- 8.3.1. Key Highlights
- 8.3.1.1. Dairy
- 8.3.1.2. Bakery & confectionery
- 8.3.1.3. Tabletop sweeteners
- 8.3.1.4. Beverages
- 8.3.1.5. Convenience foods
- 8.3.1.6. Others
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
- 8.4. Middle East & Africa Stevia Market Outlook, by Country, Value (US$ '000), 2019 - 2029
- 8.4.1. Key Highlights
- 8.4.1.1. GCC Stevia Market by Value (US$ '000), 2019 - 2029
- 8.4.1.2. South Africa Stevia Market by Value (US$ '000), 2019 - 2029
- 8.4.1.3. Rest of Middle East & Africa Stevia Market by Value (US$ '000), 2019 - 2029
- 8.4.2. BPS Analysis/Market Attractiveness Analysis
9. Competitive Landscape
- 9.1. Company Market Share Analysis, 2021
- 9.2. Company Profiles
- 9.2.1. Cargill
- 9.2.1.1. Company Overview
- 9.2.1.2. Key Retailing Partners
- 9.2.1.3. Business Segment Revenue
- 9.2.1.4. Ingredient Overview
- 9.2.1.5. Product Offering & its Presence
- 9.2.1.6. Certifications & Claims
- 9.2.2. Ingredion Incorporated
- 9.2.3. Tate & Lyle Plc
- 9.2.4. PureCircle Ltd
- 9.2.5. GLG Life Tech Corporation
- 9.2.6. Archer Daniels Midland Company
- 9.2.7. Südzucker AG
- 9.2.8. Sunwin Stevia International Inc
- 9.2.9. ORITA KAGAKU KOGYO CO., LTD.
- 9.2.10. The Real Stevia Company ABL
10. Appendix
- 10.1. Research Methodology
- 10.2. Report Assumptions
- 10.3. Acronyms and Abbreviations