Stevia- The Low-Calorie Natural Sweetener

Introduction

Stevia, also known as Stevia rebaudiana, belongs to the chrysanthemum family, and have a novel sweetness. It is 200 to 300 times sweeter than sugar and has been in use since the 16^th century.

Consumers are becoming more aware regarding the health benefits of Stevia and are opting for organically grown Stevia. As per the Organic Trade Association(OTA), Americans spent around USD 52 Billion dollars on organic products in 2019. This highlights the growth prospects of organic stevia products in the coming years.

Countries globally are coming together to fight the war against obesity and diabetes. This had led to the enactment of new laws that tax sugar-based beverages. For instance, India has put in place a ‘Sin Tax’ that put a 28% tax on sugary drinks. Negative reinforcements towards sweet drinks will nudge consumers to opt for healthy beverage options, thereby creating upswings for the stevia market during the forecast period.

COVID-19 Impact Analysis

The coronavirus pandemic continues to disseminate rapidly across the globe. This has had a positive and negative impact on the stevia market.

Coronavirus has strained almost every sector and has bought the disruption in the supply chain industry. Companies have lowered production capacities due to plummeting demand. This, coupled with increasing protectionist tendencies and closing of borders, will further lead to a mismatch in the supply and demand and eventually increasing the prices of stevia-based products. Furthermore, consumers are changing the way they shop from supermarkets, speciality stores, and online channels due to the low availability of manpower. This has given rise to alternate sales and distribution channels that are challenging traditional sales channels.  However, the pandemic has encouraged consumer health-awareness about diabetes and obesity.

Competitive Players

1. Cargill Incorporated
2. Tate & Lyle
3. Archer Daniels Midland Company
4. Glg Life Tech Corp
5. Morita Kagaku Kogyo Co. Ltd
6. Guilin Layn Natural Ingredients Corp
7. S&W Seed Company
8. Ingredion Inc
9. The Real Stevia Company AB
10. Arboreal Stevia
11. Sunwin Stevia International Inc
12. Biolotus Technology Lasa Inc.

Recent Developments

Recent Developments

May 2022 - As customers' need for inspiration, innovation, and speed-to-market take precedence in today's dynamic chocolate market, Cargill's House of Chocolate provides them with a collaborative, end-to-end customer experience. This 6200 square meter complex, built alongside the company's existing chocolate production plant, includes a state-of-the-art chocolate experience center, a unique pilot plant with sensory expertise, and a creative workspace for the company's European R&D team of chocolate engineers.

March 2022 - José Ramón Gutiérrez, Chairman of Multi export Foods S.A., a pioneer and leader of salmon farming in Chile announced today that Cargill, the global food and agriculture company, has agreed to purchase 24.5% of the shares of Salmones Multi export SA (Multi X), the subsidiary of Multi export Foods SA. In turn, Mitsui, a shareholder of Multi X since 2015, will increase its shareholding by 1.13%, to 24.5%. Multi export Foods SA maintains control of Multi X with 51% of the total shares. The transaction is subject to certain regulatory approvals, and the fulfillment of conditions agreed by the parties.

Segmentation

1. By Form
   1. Powder
   2. Liquid
   3. Leaf
2. By Application
   1. Bakery
   2. Dairy Food Products
   3. Beverages
   4. Dietary Supplements
   5. Confectionery
   6. Other Applications