Press Release
Press Release
As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
According to a new report by EMR titled, ‘Middle East and Africa Stevia Market Report and Forecast 2021-2026’, the Middle East and Africa stevia market is being driven by the growing global stevia market, which recorded a value of nearly USD 520.30 million in 2020. It is further expected to grow at a CAGR of 8.4% between 2021 and 2026.
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.
Market Breakup by Type, Application, and Region:
Key Findings of the Report:
Key Offerings of the Report:
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.
About Us:
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Contact Us:
Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
RIGHT PEOPLE
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
RIGHT METHODOLOGY
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
RIGHT PRICE
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
RIGHT SUPPORT
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.