The Global Stevia Products Market Size accounted for USD 640.5 Million in 2022 and is estimated to achieve a market size of USD 1,491.7 Million by 2032 growing at a CAGR of 8.9% from 2023 to 2032.
Stevia Products Market Highlights
- Global stevia products market revenue is poised to garner USD 1,491.7 million by 2032 with a CAGR of 8.9% from 2023 to 2032
- Asia-Pacific stevia products market value occupied more than USD 294 million in 2022
- Asia-Pacific stevia products market growth will record a CAGR of around 9% from 2023 to 2032
- Among extract type, the powder sub-segment generated approx US$ 250 million revenue in 2022
- Based application, the beverages sub-segment generated around 33% share in 2022
- Innovation in product formulations is popular stevia products market trend that fuels the industry demand
Stevia is a sugar substitute and better known as a sweetener and is extracted from the leaves of the plant species Stevia rebaudiana. It is been used as a dietary supplement over years. The dynamic mixes of stevia are steviol glycosides (primarily stevioside and rebaudioside), which have up to 150 times the sweetness of sugar and are warm steady, pH-stable, and nonfermentable. The taste of stevia has a slower beginning and longer span than that of sugar, and some of its concentrates may have an astringent or licorice-like persistent flavor at high fixations. They are used as a sweetness-enhancing ingredient in various products by many food and medicine-producing companies.
Global Stevia Products Market Dynamics
Market Drivers
- Increasing demand for low-calorie sweeteners
- Growing health consciousness among consumers
- Favorable regulatory environment
- Rising prevalence of diabetes and obesity
Market Restraints
- Limited consumer awareness
- Competition from other low-calorie sweeteners
Market Opportunities
- Growing popularity of natural and plant-based ingredients
- Increasing use in a wide range of food and beverage products
Stevia Products Market Report Coverage
Market |
Stevia Products Market |
Stevia Products Market Size 2022 |
USD 130.6 Million |
Stevia Products Market Forecast 2032 |
USD 1,491.7 Million |
Stevia Products Market CAGR During 2023 - 2032 |
8.9% |
Stevia Products Market Analysis Period |
2020 - 2032 |
Stevia Products Market Base Year |
2022 |
Stevia Products Market Forecast Data |
2023 - 2032 |
Segments Covered |
By Extract Type, By Application, By End-User, And By Geography
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Key Companies Profiled |
Cargill, PureCircle, Tate & Lyle, GLG Life Tech, The Coca-Cola Company, SweetLeaf, Ingredion Inc., PepsiCo Inc., Stevia Corporation, and Evolva Holding S.A.
|
Report Coverage
|
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis |
Stevia Products Market Insights
The market for stevia products has grown wisely owing to increasing health concerns such as diabetes, blood pressure, pancreas cancer, allergies, etc. The natural sweetening property of stevia is beneficial for individuals who prefer naturally sourced nourishment and drinks. The low-calorie composition of Stevia makes it an invigorating option for diabetes control or weight reduction. At present, more than 5,000 nourishment and drinks across the globe use stevia as a sweetening ingredient. Stevia sweeteners are utilized as a fixing in items such as ice cream, desserts, sauces, yogurts, pickled foods, bread, soft drinks, chewing gum, candy, seafood, prepared vegetables, etc. across Asia and South America.
Stevia is the best alternative for sugar and is cost-effective as it can be easily cultivated, with no side effects. They are likely to be preferred by consumers and vendors who are looking for alternatives to sugar. The improvisations in making stevia ready to use have resulted in bettering its taste, which is further expected to drive its acceptance among end users. There are several new products launched by stevia producers in the market, thus offering a broader view of the market's growth in the coming period.
Stevia Products Market Segmentation
The worldwide market for stevia products is split based on extract type, application, end-user, and geography.
Stevia Products Market By Extract Type
According to the stevia products industry analysis, powdered stevia extract is the most widely used form of stevia on the market today. Powdered stevia extract made up the majority of the global stevia market in 2022, and it is expected to continue to monopolise the market during the forecast period.
Powdered stevia extract is popular due to its ease of use, versatility, and longer shelf life when compared to other forms of stevia, such as liquid and leaf. Powdered stevia extract can be easily incorporated into a variety of food and beverage products, such as baked goods, beverages, and dairy products, without affecting their texture or taste.
Stevia leaf is the most natural form of stevia and is also used in the market; however, it has a short shelf life and requires more processing to extract the sweet components. As a result, it is not as widely used in food and beverage products as powdered stevia extract. However, some customers prefer to use stevia leaf as a natural sweetener in their homemade dishes.
Stevia Products Market By Application
- Pharmaceuticals
- Beverages
- Food
- Tabletop Sweeteners
- Others
According to the stevia products market forecast, the the beverages sub-segment will dominate the stevia products market in terms of applications. This is due to the growing demand for low-calorie and natural sweeteners in carbonated and non-carbonated beverages such as soft drinks, sports drinks, and fruit juices. Stevia can also be found as a sweetener in tea and coffee.
Food is another important application segment of the stevia products market, with stevia being used in a variety of food products such as baked goods, confectionery, dairy products, and others. The demand for natural and low-calorie sweeteners in food products is propelling this segment's growth.
Tabletop sweeteners, which are used as a sugar substitute in coffee, tea, and other beverages, account for a sizable portion of the stevia product market. The demand for natural, low-calorie sweeteners in these applications is propelling this segment's growth.
Stevia Products Market By End-User
- Individual Users
- Professional Chefs and Bakers
- Edible Product Manufacturers
- Others
The end-user segment that dominates the stevia products market varies depending on the type of stevia product and geographic location. However, the edible product manufacturers are the biggest end-user of stevia products in general.
This is due to the fact that edible product manufacturers, such as food and beverage companies, use stevia as a natural, low-calorie sweetener in a variety of products. Carbonated and non-carbonated beverages, baked goods, dairy products, confectionery, and other items fall into this category. Stevia is used by edible product manufacturers to meet consumer demand for natural and healthier food and beverage products.
Individual users, such as health-conscious consumers who prefer natural sweeteners, account for a sizable portion of the stevia products market. These people use stevia as a tabletop sweetener as well as in their cooking and baking at home. Individual user demand for natural and low-calorie sweeteners is driving the growth of this segment.
Stevia Products Market Regional Outlook
North America
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
Stevia Products Market Regional Analysis
North America is the largest market for stevia products, owing to rising demand among health-conscious consumers for natural and low-calorie sweeteners. The region's largest market is the United States, followed by Canada.
Europe is a significant market for stevia products, owing to rising demand for natural, low-calorie sweeteners in food and beverage products. The region's major markets include Germany, France, and the United Kingdom.
Asia-Pacific is the fastest-growing market for stevia products, owing to rising consumer demand for natural and low-calorie sweeteners in the region. The region's major markets are China, India, and Japan, with China being the largest.
Stevia Products Market Players
Some of the top stevia products companies offered in the professional report include Cargill, PureCircle, Tate & Lyle, GLG Life Tech, The Coca-Cola Company, SweetLeaf, Ingredion Inc., PepsiCo Inc., Stevia Corporation, and Evolva Holding S.A.
CHAPTER 1. Industry Overview of Stevia Products Market
1.1. Definition and Scope
1.1.1. Definition of Stevia Products
1.1.2. Market Segmentation
1.1.3. Years Considered for the Study
1.1.4. Assumptions and Acronyms Used
1.1.4.1. Market Assumptions and Market Forecast
1.1.4.2. Acronyms Used in Global Stevia Products Market
1.2. Summary
1.2.1. Executive Summary
1.2.2. Stevia Products Market By Extract Type
1.2.3. Stevia Products Market By Application
1.2.4. Stevia Products Market By End-User
1.2.5. Stevia Products Market By Region
CHAPTER 2. Research Approach
2.1. Methodology
2.1.1. Research Programs
2.1.2. Market Size Estimation
2.1.3. Market Breakdown and Data Triangulation
2.2. Data Source
2.2.1. Secondary Sources
2.2.2. Primary Sources
CHAPTER 3. Market Dynamics And Competition Analysis
3.1. Market Drivers
3.1.1. Driver 1
3.1.2. Driver 2
3.2. Restraints and Challenges
3.2.1. Restraint 1
3.2.2. Restraint 2
3.3. Growth Opportunities
3.3.1. Opportunity 1
3.3.2. Opportunity 2
3.4. Porter’s Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitute
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Concentration Ratio and Market Maturity Analysis of Stevia Products Market
3.5.1. Go To Market Strategy
3.5.1.1. Introduction
3.5.1.2. Growth
3.5.1.3. Maturity
3.5.1.4. Saturation
3.5.1.5. Possible Development
3.6. Technological Roadmap for Stevia Products Market
3.7. Value Chain Analysis
3.7.1. List of Key Manufacturers
3.7.2. List of Customers
3.7.3. Level of Integration
3.8. Regulatory Compliance
3.9. Competitive Landscape, 2022
3.9.1. Player Positioning Analysis
3.9.2. Key Strategies Adopted By Leading Players
CHAPTER 4. Stevia Products Market By Extract Type
4.1. Introduction
4.2. Stevia Products Revenue By Extract Type
4.2.1. Stevia Products Revenue (USD Million) and Forecast, By Extract Type, 2020-2032
4.2.2. Liquid
4.2.2.1. Liquid Market Revenue (USD Million) and Growth Rate (%), 2020-2032
4.2.3. Powder
4.2.3.1. Powder Market Revenue (USD Million) and Growth Rate (%), 2020-2032
4.2.4. Leaf
4.2.4.1. Leaf Market Revenue (USD Million) and Growth Rate (%), 2020-2032
CHAPTER 5. Stevia Products Market By Application
5.1. Introduction
5.2. Stevia Products Revenue By Application
5.2.1. Stevia Products Revenue (USD Million) and Forecast, By Application, 2020-2032
5.2.2. Pharmaceuticals
5.2.2.1. Pharmaceuticals Market Revenue (USD Million) and Growth Rate (%), 2020-2032
5.2.3. Beverages
5.2.3.1. Beverages Market Revenue (USD Million) and Growth Rate (%), 2020-2032
5.2.4. Food
5.2.4.1. Food Market Revenue (USD Million) and Growth Rate (%), 2020-2032
5.2.5. Tabletop Sweeteners
5.2.5.1. Tabletop Sweeteners Market Revenue (USD Million) and Growth Rate (%), 2020-2032
5.2.6. Others
5.2.6.1. Others Market Revenue (USD Million) and Growth Rate (%), 2020-2032
CHAPTER 6. Stevia Products Market By End-User
6.1. Introduction
6.2. Stevia Products Revenue By End-User
6.2.1. Stevia Products Revenue (USD Million) and Forecast, By End-User, 2020-2032
6.2.2. Individual Users
6.2.2.1. Individual Users Market Revenue (USD Million) and Growth Rate (%), 2020-2032
6.2.3. Professional Chefs and Bakers
6.2.3.1. Professional Chefs and Bakers Market Revenue (USD Million) and Growth Rate (%), 2020-2032
6.2.4. Edible Product Manufacturers
6.2.4.1. Edible Product Manufacturers Market Revenue (USD Million) and Growth Rate (%), 2020-2032
6.2.5. Others
6.2.5.1. Others Market Revenue (USD Million) and Growth Rate (%), 2020-2032
CHAPTER 7. North America Stevia Products Market By Country
7.1. North America Stevia Products Market Overview
7.2. U.S.
7.2.1. U.S. Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
7.2.2. U.S. Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
7.2.3. U.S. Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
7.3. Canada
7.3.1. Canada Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
7.3.2. Canada Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
7.3.3. Canada Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
7.4. North America PEST Analysis
CHAPTER 8. Europe Stevia Products Market By Country
8.1. Europe Stevia Products Market Overview
8.2. U.K.
8.2.1. U.K. Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
8.2.2. U.K. Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
8.2.3. U.K. Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
8.3. Germany
8.3.1. Germany Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
8.3.2. Germany Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
8.3.3. Germany Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
8.4. France
8.4.1. France Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
8.4.2. France Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
8.4.3. France Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
8.5. Spain
8.5.1. Spain Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
8.5.2. Spain Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
8.5.3. Spain Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
8.6. Rest of Europe
8.6.1. Rest of Europe Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
8.6.2. Rest of Europe Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
8.6.3. Rest of Europe Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
8.7. Europe PEST Analysis
CHAPTER 9. Asia Pacific Stevia Products Market By Country
9.1. Asia Pacific Stevia Products Market Overview
9.2. China
9.2.1. China Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
9.2.2. China Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
9.2.3. China Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
9.3. Japan
9.3.1. Japan Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
9.3.2. Japan Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
9.3.3. Japan Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
9.4. India
9.4.1. India Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
9.4.2. India Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
9.4.3. India Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
9.5. Australia
9.5.1. Australia Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
9.5.2. Australia Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
9.5.3. Australia Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
9.6. South Korea
9.6.1. South Korea Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
9.6.2. South Korea Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
9.6.3. South Korea Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
9.7. Rest of Asia-Pacific
9.7.1. Rest of Asia-Pacific Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
9.7.2. Rest of Asia-Pacific Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
9.7.3. Rest of Asia-Pacific Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
9.8. Asia Pacific PEST Analysis
CHAPTER 10. Latin America Stevia Products Market By Country
10.1. Latin America Stevia Products Market Overview
10.2. Brazil
10.2.1. Brazil Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
10.2.2. Brazil Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
10.2.3. Brazil Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
10.3. Mexico
10.3.1. Mexico Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
10.3.2. Mexico Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
10.3.3. Mexico Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
10.4. Rest of Latin America
10.4.1. Rest of Latin America Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
10.4.2. Rest of Latin America Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
10.4.3. Rest of Latin America Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
10.5. Latin America PEST Analysis
CHAPTER 11. Middle East & Africa Stevia Products Market By Country
11.1. Middle East & Africa Stevia Products Market Overview
11.2. GCC
11.2.1. GCC Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
11.2.2. GCC Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
11.2.3. GCC Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
11.3. South Africa
11.3.1. South Africa Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
11.3.2. South Africa Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
11.3.3. South Africa Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
11.4. Rest of Middle East & Africa
11.4.1. Rest of Middle East & Africa Stevia Products Revenue (USD Million) and Forecast By Extract Type, 2020-2032
11.4.2. Rest of Middle East & Africa Stevia Products Revenue (USD Million) and Forecast By Application, 2020-2032
11.4.3. Rest of Middle East & Africa Stevia Products Revenue (USD Million) and Forecast By End-User, 2020-2032
11.5. Middle East & Africa PEST Analysis
CHAPTER 12. Player Analysis Of Stevia Products Market
12.1. Stevia Products Market Company Share Analysis
12.2. Competition Matrix
12.2.1. Competitive Benchmarking of key players by price, presence, market share, and R&D investment
12.2.2. New Product Launches and Product Enhancements
12.2.3. Mergers And Acquisition In Global Stevia Products Market
12.2.4. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements
CHAPTER 13. Company Profile
13.1. Cargill
13.1.1. Company Snapshot
13.1.2. Business Overview
13.1.3. Financial Overview
13.1.3.1. Revenue (USD Million), 2022
13.1.3.2. Cargill 2022 Stevia Products Business Regional Distribution
13.1.4. Product /Service and Specification
13.1.5. Recent Developments & Business Strategy
13.2. PureCircle
13.3. Tate & Lyle
13.4. GLG Life Tech
13.5. The Coca-Cola Company
13.6. SweetLeaf
13.7. Ingredion Inc.
13.8. PepsiCo Inc.
13.9. Stevia Corporation
13.10. Evolva Holding S.A.