The latest report by IMARC Group, titled “Stevia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” offers a comprehensive analysis of the stevia market scope. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global stevia market size reached US$ 763.0 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,438.3 Million by 2032, exhibiting a growth rate (CAGR) of 7.1% during 2024-2032.
Stevia Market Trends:
The global market is primarily driven by the growing consumer preference for natural and plant-based sweeteners over artificial ones. Increasing health consciousness and awareness about the adverse effects of sugar consumption have further accelerated the demand for stevia. The expanding prevalence of diabetes and obesity has led to an increase in the adoption of low-calorie sweeteners. Moreover, the rise in demand for natural ingredients in the food and beverage industry is propelling market growth. Furthermore, stevia's extensive application in diverse products such as soft drinks, confectionery, and dairy products is enhancing its market potential. Additionally, the endorsement of stevia by regulatory authorities as a safe alternative to sugar is encouraging its widespread use. Besides, the ongoing research and development activities aimed at improving stevia's taste profile and functionality are expected to open new avenues for market expansion.
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Global Stevia Market Scope & Growth Analysis:
The market scope is expanding due to the growing trend of clean-label products, where consumers demand transparency and natural ingredients. Additionally, the food service industry's increasing interest in offering healthier menu options is propelling the market for stevia. Emerging innovations in extraction and production technologies are enhancing stevia's quality and cost-effectiveness, making it more attractive to manufacturers. The alignment of stevia with the global movement towards reducing sugar intake in diets is a crucial factor driving its market expansion. Furthermore, strategic partnerships and collaborations between stevia producers and major food and beverage companies are fostering market growth. Government initiatives and public health campaigns advocating for reduced sugar consumption are also playing a vital role. The steady increase in the number of health-conscious consumers across the globe is expected to continue driving the demand for stevia, ensuring sustained market scope.
Competitive Landscape with Key Players:
- Archer-Daniels-Midland Company
- Cargill Incorporated
- GLG Life Tech Corporation
- Guilin Layn Natural Ingredients Corp.
- Hunan NutraMax Inc.
- Ingredion Incorporated
- Morita Kagaku Kogyo Co. Ltd.
- Pyure Brands LLC
- Sunwin Stevia International Inc
- Tate & Lyle PLC
- The Real Stevia Company AB
- Wisdom Natural Brands
- Zhucheng Haotian Pharm Co. Ltd.
Key Market Segmentation:
Breakup by Extract Type:
- Powder
- Liquid
- Leaf
Breakup by End Use:
- Beverages
- Food Products
- Table Top Sweeteners
- Pharmaceuticals
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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