A recent report published by Infinium Global Research on stevia market provides in-depth analysis of segments and sub-segments in the global as well as regional stevia market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional stevia market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global stevia market. According to the report, the global stevia market is projected to grow at a CAGR of 9.70% over the forecast period of 2018-2024.
Stevia is a natural sugar substitute that is derived from the leaves of the Stevia rebaudiana plant. Stevia is a zero-calorie sweetener that has a number of medical properties. Stevia is available in the form of leaves and is further processed in the form of liquid, and powder. Stevia is used in convenience foods, bakery & confectionery, dairy, beverages, and others. The leaves of stevia are 200 times sweeter when compared to traditional white sugar. The sweetness in the stevia plant is extracted by soaking its dry leaves in water, filtering the liquid, and separating it from the stems and leaves. The United States Food and Drug Administration (FDA) considers high-purity steviol glycosides to be safe for human consumption.
Developing awareness among the individuals among the health benefits of stevia such as lower blood pressure reduces the risk of pancreatic cancer, and others drive the demand for the stevia market. Surging demand for natural ingredients as sweeteners due to increasing occurrences of diabetes is also a boosting factor for the stevia market. Further, growing demand for stevia-based products, consumer shifting towards low-calorie consumable products and escalating consumer attentiveness regarding the harmful effects of artificial additives on human health are supporting the demand for the stevia market. Additionally, increasing the usage of stevia as a substitute for table sugar in food and beverage products is further fueling market growth. As stevia provides a high amount of sweetness without affecting blood pressure it is used as a tabletop sweetener. Moreover, increasing adoption of stevia as a natural sweetener is likely to create a growth opportunity for the stevia market during the forecast period. On the contrary, there are occurrences of some side effects among the people caused due to the consumption of stevia. Allergies such as Cause Allergies, Might Damage Kidneys and so on are limiting the adoption of the stevia.
Among the geographies, North America witnessed the maximum growth in the stevia market followed by the Asia Pacific. In Asia Pacific region factors such as rising demand for zero calorie products, shifting trend towards natural ingredients as sweeteners and changing the lifestyle of consumers are driving factors for the growth of the stevia market. Going further, the adoption of stevia as a natural sweetener by multinational food and beverages brands is further escalating market growth. Further, in the Asia Pacific increasing consumer consciousness about the benefits of natural sweeteners and increasing adoption of stevia by food and beverage companies as a substitute for sugar will further escalate the market growth.
The report on global stevia market covers segments such as types and applications. On the basis of types, the sub-markets include leaf, extracts, blends, and others. On the basis of applications, the sub-markets include dairy food products, dietary supplement, bakery, beverages, confectionary, pharmaceuticals, animal feed, and others.
The report provides profiles of the companies in the market such as Tate & Lyle, Stevia Corp., PureCircle, Cargill, Incorporated, Ingredion Inc., HYET Sweet, Sunwin Stevia International, Inc., Evolva, CUMBERLAND PACKING CORP., and GLG LIFE TECH CORP.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of stevia market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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