The Global Stevia Market is estimated to grow at a CAGR of 8% during the forecast period 2019-2026. As per the analysis, the Global Stevia Market was valued at $637.1 million in the year 2018 and is estimated to reach $1,169.4 million by the end of the year 2026.
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Stevia is a non-nutritive natural sweetener and has low glycemic index, is non-cariogenic and no or low calorie. It is a healthy alternative to Sugar boosting it demand in the market. With its wide application in different industries like cosmetics, food & beverages, and pharmaceutical, having attributed to different properties of it. Some of its properties are its availability in different forms like powder, liquid and other forms, it has high heat resistance, and it acts as stabilizer, flavour enhancer, prevents fermentation and discoloration, antioxidant. The Global Stevia market is going to see an increase owing to increase in customer awareness about it as natural zero calorie sweetener. Another reason for its growth is the health benefits associated with it increasing the demand among obese and diabetic consumers. The Food & beverages segment holds maximum market share in the year 2018 and will be dominating the global market during the forecast period. Also, the distribution channel is the highest contributor in 2018, with an estimated growth at a CAGR of 7.5% during the forecast period 2019-2026.
As consumers are shifting more to a healthy lifestyle and are adopting more to free form products that impacts the consumption of dietary sugar in negative manner. Hence, the Food and Beverage industry has started using Stevia offering growth in the global stevia market. Additionally, stevia is also used to increase the appetite of livestock, boosting the demand for it in the animal feed industry. Due to increased awareness on benefits of Stevia, it is gaining popularity in the household sector. Also, many hotels, restaurants, cafes and the food service industry are adopting stevia as table top sweetener further increasing the share of the Food and Beverage industry in the Global Stevia Market.
Segmentation Overview of the Global Stevia Market
The Global Stevia Market is segmented on the basis of Form, End Users and Distribution Channel. These segments are further categorized into various sub-segments to study the market in detail and analyse the overall market.
The Form Segment of the Global Stevia Market is Sub-Segmented into:
The End Segment of the Global Stevia Market is Sub-Segmented into:
- Pharmaceutical industry
- Food & beverages industry
- Retail Industry
The Distribution Segment of the Global Stevia Market is Sub-Segmented into:
- Online Stores
- Direct Channel
- Medical stores
Geographical Overview of the Global Stevia Market
Geographical segment of the Global Stevia Market is Europe, Asia Pacific, North America and LAMEA. As per the analysis, the Asia Pacific region dominated the Global Stevia Market with 34.8% of the market share in the year 2018 and is expected to grow at a CAGR of 7%.
Key Players Insights
BENEO (SUDZUCKER Group), Incorporated., Fraken Biochem Co. Ltd., Ingredion Incorporated, Tate & Lyle PLC., Archer Daniels Midland Company, Cargill, Foodchem International Corporation, Haihang Industry Co., Ltd., PureCircle and Van Wankum Ingredients are some of the key players operating in the Global Stevia Market.
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