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Middle East and Africa Stevia Market to Grow at a CAGR of 10.3% in the Forecast Period of 2022-2027.

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 recorded a value of nearly USD 16.73 million in 2021. It is further expected to grow at a CAGR of 10.3% between 2022 and 2027.

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:

  • Stevia, based on its extract type, can be divided into leaf, powder, and liquid forms.
  • Food and beverages, oral care, pharmaceutical, and tabletop sweetener, among others, are the common application sectors for stevia.
  • Saudi Arabia, the UAE, South Africa, and Turkey, among others, are the major regional markets in the Middle East and Africa stevia market.

Key Findings of the Report:

  • The increasing health consciousness among consumers, along with the rise in demand for low-calorie products, is propelling the stevia market forward.
  • The imposition of tax on sugar in various countries by the governments is further propelling the stevia market in the region. 
  • With the increasing popularity of energy drinks in the beverage sector, the companies are producing stevia-based products due to their low-calorie content, further aiding the market.
  • The rising demand for natural or plant-based products over the artificial ones is providing further impetus to the market.

Key Offerings of the Report:

  • The EMR report gives a detailed analysis of the extract type, application, and regions for the Middle East and Africa stevia market for the periods (2017-2021) and (2022-2027). 
  • The report by EMR also offers a thorough assessment of the regional historical (2017-2021) and forecast (2022-2027) price trends of stevia. 
  • The report provides an assessment of the market based on the Porter’s Five Forces model along with a SWOT and value chain analysis.

The major players in the Middle East and Africa stevia market are Cargill, Incorporated, Tate & Lyle PLC, Archer Daniels Midland Company, and Ingredion Incorporated, among, 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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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.

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