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The Asia Pacific stevia market is the leading stevia producer in the global stevia market, producing over 85% of the world’s total stevia. The Asia Pacific and Europe, the two major stevia markets, together account for more than three-fifths of the overall market share. China is the world leader in the production of stevia and, thus, serves as a major supplier of stevia at the global level. On the other hand, Japan, within the Asia Pacific, is a leading consumer of stevia, which occupies about 40% of Japan’s sweeteners market. The consumption of stevia in Japan and Korea has been going on since traditional times and, hence, it is a popular choice for use as a natural sweetener, propelling the market forward. The Asia Pacific is one of the leading regions to launch stevia-based products, thus, contributing significantly to the growth of the global stevia market.
The increasing popularity of sugar-free products with zero-calorie content is aiding the market. In 2017, the sales of food and beverage items that contained zero-calorie sweeteners and were free from artificial sweeteners increased by 16%, globally. In May 2020, Tate & Lyle PLC (LON: TATE), one of the leading players of the market, with its stevia ingredients partner, Sweet Green Fields (SGF), introduced ZOLESSE Natural Flavor, a new innovation which has been formulated to deliver great taste as well as meet consumers’ demand for clean-label ingredients. With the shift in food habits of consumers towards healthy products, the market has seen a further growth. In May 2018, the beverage giant- Coca-Cola (NYSE: KO), launched Coca-Cola Stevia No Sugar, its first-ever product sweetened solely with stevia in New Zealand. The company partnered with PureCircle (LSE: PURE), the leading producer and innovator of stevia ingredients, to launch this 100% stevia-based soft drink, thus, expanding its market to meet the increasing demand for stevia-based products.
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The major players in the Asia Pacific stevia market are PureCircle, Cargill, Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, Tate & Lyle PLC, SteviaPac Food Innovation, Layn Corporate, Zhucheng HaoTian Pharm Co., Ltd, and Sunwin Stevia International, Inc, among others. The EMR report provides the market capacity, share, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions for the major players.
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