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In the Middle East and Africa stevia market, the demand for stevia is increasing gradually with the growing awareness about sugar consumption related diseases. With the Standardisation Organisation (GSO) of the Gulf Cooperation Council (GCC) approving the use of steviol glycosides, an active stevia compound, in foods and beverages in 2016, the application of stevia in diverse products like canned food, baked products, and non-alcoholic beverages, among others, has increased rapidly. Moreover, the burgeoning cases of obesity and diabetes in the region has led to the implementation of various strategies by the government to discourage the use of sugar, thus, aiding the stevia market. Within the Middle East and Africa, South Africa holds a strong position in the stevia market.
In countries like Saudi Arabia and the UAE, the high imposition of tax on sugar by the governments has resulted in an increased demand for a low-calorie ingredient like stevia, thus, aiding the market further. In South Africa, after the implementation of a sugary beverage tax in April 2018, Coca-Cola has reduced the consumption of sugar in their beverages by 26%. Moreover, in May 2018, Coca-Cola, in partnership with PureCircle (LSE: PURE), launched Coca-Cola Stevia No Sugar, its first-ever product sweetened solely with stevia, in New Zealand, which would soon be available in the different regions, thus, further aiding the global stevia market. The increasing innovation in the food and beverage sector is driving the market further. In 2018, Tate & Lyle PLC (LON: TATE), launched its first premium Reb M stevia sweetener- TASTEVA® M, which is healthy and tastes great as well, further opening new horizons for the production of sugar-free products.
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The major players in the Middle East and Africa stevia market are PureCircle, Cargill, Incorporated, Tate And Lyle, Ingredion South Africa (PTY), and Archer Daniels Midland Company, among others. The report provided by EMR covers the market share, capacity, and latest developments like mergers and acquisitions of the major players, along with their plant turnarounds and capacity expansion.
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