Stevia Market: Information by Extract Type (Leaf, Powdered, Liquid), Nature (Organic, Inorganic), Application, and Region — Forecast till 2029

Apr 21, 2020   Definition Stevia is a minor shrub that is indigenous to South America, on the meeting points of Argentina, Paraguay, and Brazil. It goes by the scientific name of Stevia Rebaudiana Bertoni and is part of the largest family of plants, Asteraceae. For centuries, Stevia has been used to improve the sweetness profile of foods and medicines. It is 200 to 300 times sweeter than conventional sugar and acts as an excellent sugar substitute. Stevia, owing to its versatility, is used across various app...
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Report Description

Definition

Stevia is a minor shrub that is indigenous to South America, on the meeting points of Argentina, Paraguay, and Brazil. It goes by the scientific name of Stevia Rebaudiana Bertoni and is part of the largest family of plants, Asteraceae.

For centuries, Stevia has been used to improve the sweetness profile of foods and medicines. It is 200 to 300 times sweeter than conventional sugar and acts as an excellent sugar substitute. Stevia, owing to its versatility, is used across various applications such as foods, beverages, confectionery, pharmaceuticals, among others.

Market Drivers

Rising Diabetes Mellitus Patients to Prompt the Need for Stevia-based Products

Diabetes mellitus is a persistent, metabolic disease that is marked by an elevated level of blood sugar that can, over the years, cause severe or permanent damage to the heart, kidneys, blood vessels, nerves, among others. Over the last three decades, the preponderance of type 2 diabetes has risen drastically in countries of all income grades. As per the International Diabetes Federation, in the year 2019, there were close to 463 million adults living with the disease, and it is expected that by the year 2045, the number will increase to 700 million.

Tax on Sugary Beverages to Generate Growth Avenues for the Market

It is a well-documented fact that sugar-sweetened foods and beverages cause more harm than good and increase the overall public health costs to treat diseases such as obesity, cardiovascular diseases, and diabetes mellitus. It is estimated that one single can of sugar drink consists of 40 grams of free sugars that amounts to around ten teaspoons of table sugar.  These factors have nudged governments worldwide to take up initiatives to reduce sugar consumption. Countries have enacted comprehensive policies to tax sugary drinks to improve health outcomes and, at the same time, generate additional revenues that can be deployed to consumer education and improving spending on human capital.

The imposition of tax on sugar has other benefits such as discouragement of sugar consumption, prompting industry players to produce and promote healthier beverage options, the shift in sales from sugar beverages to healthier alternatives, and improved consumer awareness, among others.

Segmental Overview

The Emergence of Stevia-Sweetened Products to Boost the Beverages Segment’s Growth

The beverages segment accounted for the highest share due to Stevia’s extensive adoption by food and beverage companies that incorporate Stevia to make products that don’t compromise on sweetness and are also healthy and low on calories. The emergence of a slew of product launches, owing to innovation in the food and beverage industry and the need to retain the consumer bases, especially millennials, has led to companies like PepsiCo to launch Pepsi True, a stevia-sweetened cola. Also, Coca Cola launched Coca-Cola with Stevia.

Regions like Europe, where the food and beverage industry dominates at the global level, present a positive growth avenue for the growth of the stevia market. As per FoodDrinkEurope, the total expenditure of European Union households on foods and drinks was estimated at around USD 1227 Billion. As health awareness has found its path to the mainstream, higher spending patterns in developed countries has been observed, where the general population is now opting for healthier food and beverages options.

Regional Overview

Asia-Pacific’s Organic Food Trend to Drive the Stevia Market’s Growth

Asia-Pacific is the largest region in terms of geography and human capital, where the growth is primarily driven by India and China. The growing emphasis on plant-based products in countries such as India and China that have been using medicinal herbs since hundreds of years will see high adoption of Stevia-based products owing to its natural origin. There is also a trend among millennials to opt for organically grown products that will eventually bolster the adoption rate of organically grown stevia sweetener. The antioxidant property of Stevia will further improve its adoption rate among the health-conscious populace.

Asia-Pacific has the highest number of diabetes patients in the world. As per the report on the Asian Diabetic Prevention initiative, out of the total diabetic cases globally, around 60 percent of them are from Asia. Asians have higher body fat and the same level of BMI as compared to westerners. This factor has led to people opting for healthier choices in terms of food and beverages they consume. Furthermore, improving health infrastructure and rising internet penetration has made the average population more health-conscious pertaining to the ill-effects of sugar. Consumers are, nowadays, on the lookout for organic, 100 percent plant-based, low sugar content foods, and beverages. Manufacturers are trying to cash in on this new healthy trend by introducing new products that are stevia-based.

China’s Booming Pharmaceutical Industry to Drive the Stevia Market Growth

China is one of the world leaders in the Pharmaceutical industry, and the region has been on the constant rise in recent times. As per the data from China.org, it is estimated that the pharmaceutical market is expected to reach a value of USD 162 Billion by the year 2023 and garner around 30 percent of the total market share globally. The rising geriatric population in India and China has accelerated the demand for dietary supplements and nutraceuticals. Supplements are taken by the elderly to improve immunity and prevent them from chronic disease in the longer run.

Coronavirus Pandemic to Restrict the Stevia Market Growth

It is a well-documented fact that the virus attacks the elderly that are low on immunity. All these aforementioned factors are likely to improve the overall demand for the Stevia market. However, the recent outbreak of Coronavirus has disrupted the entire supply chain, dampening market demand. This has led to a shortage of raw material (stevia leaves) that goes into the making of numerous products. This is likely to dampen the growth of the Stevia market in the coming months.

Key Players

Cargill Incorporated, Ingredion Incorporated, PureCircle Ltd., Koninklijke DSM NV, Tate and Lyle Plc., Sunwin Stevia International, Inc., GLG Life Tech Corp, Evolva Holding SA, Pure Circle Limited, Stevia Corporation, The Coca-Cola Company,  Pepsico Inc., Qufu Xiangzhou Stevia, Layn, Zhucheng Haotian, among others

Stevia Market Segmentation

By Extract type

  • Leaf
  • Powdered
  • Liquid

By Nature

  • Organic
  • Inorganic

By Application

  • Dairy Food Products
    • Ice Cream
    • Yoghurt
    • Flavoured Milk
  • Bakery Products
    • Breads&Rolls
    • Biscuits &Cookies
    • Cakes & Pastries
    • Other bakery Products
  • Beverages
    • Energy Drink
    • Soft Drinks
    • Hot Drinks
    • Flavored Drinks
    • Natural Sweeter Water
  • Packaged Food Products
    • Pickles
    • Jam
    • Sauce
    • Chilled Food products
    • Frozen Foods
  • Pharmaceuticals
  • Confectionary Products
  • Table Top Sweeteners
  • Others

By Region

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • Germany 
  • France
  • Italy
  • U.K.
  • The Rest of Europe

Asia-Pacific

  • China 
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of APAC

Central and South America and the Caribbean 

  • Brazil
  • Argentina
  • Colombia
  • Rest of Central and South America & the Caribbean 

Middle East

  • Saudi Arabia
  • The UAE
  • Qatar
  • Oman
  • Turkey
  • The Rest of the Middle East

Africa 

  • Nigeria
  • South Africa
  • Rest of Africa

Frequently Asked Questions (FAQs)

Beverages Segment is expected to be the leading segment in Stevia Market during the forecast period.
PureCircle Ltd., Koninklijke DSM NV, Tate and Lyle Plc., Sunwin Stevia International, Inc., GLG Life Tech Corp, Evolva Holding SA, Pure Circle Limited, Stevia Corporation, The Coca-Cola Company are the top players in Stevia Market.
The Asia Pacific is expected to hold the highest market share in Stevia Market.
Rising diabetes mellitus patients, increase the overall public health costs to treat diseases are the key factors expected to drive Stevia Market during the forecast period.
We will send you an email with login credentials to access the report. You will also be able to download the pdf.
Basically choose Pay by Purchase Order when you are checking out. We will connect with you via email to set up your order.
Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available at all times and included in every purchase.

Definition

Stevia is a minor shrub that is indigenous to South America, on the meeting points of Argentina, Paraguay, and Brazil. It goes by the scientific name of Stevia Rebaudiana Bertoni and is part of the largest family of plants, Asteraceae.

For centuries, Stevia has been used to improve the sweetness profile of foods and medicines. It is 200 to 300 times sweeter than conventional sugar and acts as an excellent sugar substitute. Stevia, owing to its versatility, is used across various applications such as foods, beverages, confectionery, pharmaceuticals, among others.

Market Drivers

Rising Diabetes Mellitus Patients to Prompt the Need for Stevia-based Products

Diabetes mellitus is a persistent, metabolic disease that is marked by an elevated level of blood sugar that can, over the years, cause severe or permanent damage to the heart, kidneys, blood vessels, nerves, among others. Over the last three decades, the preponderance of type 2 diabetes has risen drastically in countries of all income grades. As per the International Diabetes Federation, in the year 2019, there were close to 463 million adults living with the disease, and it is expected that by the year 2045, the number will increase to 700 million.

Tax on Sugary Beverages to Generate Growth Avenues for the Market

It is a well-documented fact that sugar-sweetened foods and beverages cause more harm than good and increase the overall public health costs to treat diseases such as obesity, cardiovascular diseases, and diabetes mellitus. It is estimated that one single can of sugar drink consists of 40 grams of free sugars that amounts to around ten teaspoons of table sugar.  These factors have nudged governments worldwide to take up initiatives to reduce sugar consumption. Countries have enacted comprehensive policies to tax sugary drinks to improve health outcomes and, at the same time, generate additional revenues that can be deployed to consumer education and improving spending on human capital.

The imposition of tax on sugar has other benefits such as discouragement of sugar consumption, prompting industry players to produce and promote healthier beverage options, the shift in sales from sugar beverages to healthier alternatives, and improved consumer awareness, among others.

Segmental Overview

The Emergence of Stevia-Sweetened Products to Boost the Beverages Segment’s Growth

The beverages segment accounted for the highest share due to Stevia’s extensive adoption by food and beverage companies that incorporate Stevia to make products that don’t compromise on sweetness and are also healthy and low on calories. The emergence of a slew of product launches, owing to innovation in the food and beverage industry and the need to retain the consumer bases, especially millennials, has led to companies like PepsiCo to launch Pepsi True, a stevia-sweetened cola. Also, Coca Cola launched Coca-Cola with Stevia.

Regions like Europe, where the food and beverage industry dominates at the global level, present a positive growth avenue for the growth of the stevia market. As per FoodDrinkEurope, the total expenditure of European Union households on foods and drinks was estimated at around USD 1227 Billion. As health awareness has found its path to the mainstream, higher spending patterns in developed countries has been observed, where the general population is now opting for healthier food and beverages options.

Regional Overview

Asia-Pacific’s Organic Food Trend to Drive the Stevia Market’s Growth

Asia-Pacific is the largest region in terms of geography and human capital, where the growth is primarily driven by India and China. The growing emphasis on plant-based products in countries such as India and China that have been using medicinal herbs since hundreds of years will see high adoption of Stevia-based products owing to its natural origin. There is also a trend among millennials to opt for organically grown products that will eventually bolster the adoption rate of organically grown stevia sweetener. The antioxidant property of Stevia will further improve its adoption rate among the health-conscious populace.

Asia-Pacific has the highest number of diabetes patients in the world. As per the report on the Asian Diabetic Prevention initiative, out of the total diabetic cases globally, around 60 percent of them are from Asia. Asians have higher body fat and the same level of BMI as compared to westerners. This factor has led to people opting for healthier choices in terms of food and beverages they consume. Furthermore, improving health infrastructure and rising internet penetration has made the average population more health-conscious pertaining to the ill-effects of sugar. Consumers are, nowadays, on the lookout for organic, 100 percent plant-based, low sugar content foods, and beverages. Manufacturers are trying to cash in on this new healthy trend by introducing new products that are stevia-based.

China’s Booming Pharmaceutical Industry to Drive the Stevia Market Growth

China is one of the world leaders in the Pharmaceutical industry, and the region has been on the constant rise in recent times. As per the data from China.org, it is estimated that the pharmaceutical market is expected to reach a value of USD 162 Billion by the year 2023 and garner around 30 percent of the total market share globally. The rising geriatric population in India and China has accelerated the demand for dietary supplements and nutraceuticals. Supplements are taken by the elderly to improve immunity and prevent them from chronic disease in the longer run.

Coronavirus Pandemic to Restrict the Stevia Market Growth

It is a well-documented fact that the virus attacks the elderly that are low on immunity. All these aforementioned factors are likely to improve the overall demand for the Stevia market. However, the recent outbreak of Coronavirus has disrupted the entire supply chain, dampening market demand. This has led to a shortage of raw material (stevia leaves) that goes into the making of numerous products. This is likely to dampen the growth of the Stevia market in the coming months.

Key Players

Cargill Incorporated, Ingredion Incorporated, PureCircle Ltd., Koninklijke DSM NV, Tate and Lyle Plc., Sunwin Stevia International, Inc., GLG Life Tech Corp, Evolva Holding SA, Pure Circle Limited, Stevia Corporation, The Coca-Cola Company,  Pepsico Inc., Qufu Xiangzhou Stevia, Layn, Zhucheng Haotian, among others

Stevia Market Segmentation

By Extract type

  • Leaf
  • Powdered
  • Liquid

By Nature

  • Organic
  • Inorganic

By Application

  • Dairy Food Products
    • Ice Cream
    • Yoghurt
    • Flavoured Milk
  • Bakery Products
    • Breads&Rolls
    • Biscuits &Cookies
    • Cakes & Pastries
    • Other bakery Products
  • Beverages
    • Energy Drink
    • Soft Drinks
    • Hot Drinks
    • Flavored Drinks
    • Natural Sweeter Water
  • Packaged Food Products
    • Pickles
    • Jam
    • Sauce
    • Chilled Food products
    • Frozen Foods
  • Pharmaceuticals
  • Confectionary Products
  • Table Top Sweeteners
  • Others

By Region

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • Germany 
  • France
  • Italy
  • U.K.
  • The Rest of Europe

Asia-Pacific

  • China 
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of APAC

Central and South America and the Caribbean 

  • Brazil
  • Argentina
  • Colombia
  • Rest of Central and South America & the Caribbean 

Middle East

  • Saudi Arabia
  • The UAE
  • Qatar
  • Oman
  • Turkey
  • The Rest of the Middle East

Africa 

  • Nigeria
  • South Africa
  • Rest of Africa

Frequently Asked Questions (FAQs)

Beverages Segment is expected to be the leading segment in Stevia Market during the forecast period.
PureCircle Ltd., Koninklijke DSM NV, Tate and Lyle Plc., Sunwin Stevia International, Inc., GLG Life Tech Corp, Evolva Holding SA, Pure Circle Limited, Stevia Corporation, The Coca-Cola Company are the top players in Stevia Market.
The Asia Pacific is expected to hold the highest market share in Stevia Market.
Rising diabetes mellitus patients, increase the overall public health costs to treat diseases are the key factors expected to drive Stevia Market during the forecast period.
We will send you an email with login credentials to access the report. You will also be able to download the pdf.
Basically choose Pay by Purchase Order when you are checking out. We will connect with you via email to set up your order.
Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available at all times and included in every purchase.