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The Asia Pacific stevia market attained a value of nearly USD 227.91 Million in 2023. The market is further expected to grow at a CAGR of 11.20% between 2024 and 2032 and is expected to attain about USD 592.52 Million by 2032.
Base Year
Historical Year
Forecast Year
Value in USD Million
2024-2032
Asia Pacific Stevia Market Outlook
*this image is indicative*
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The industry is expected to grow at a CAGR of 8.4%, globally, in the forecast period of 2024-2032 to attain USD 844.20 million by 2026.
China is a leading producer of stevia globally. The country accounts for over 90% of the stevia output in the Asia Pacific region. China is a major supplier and exporter of crude stevia sweeteners, exporting to countries like the US, Malaysia, Japan, Korea, and Mexico. The natural sweetener is witnessing a rising acceptance and demand in the Asia Pacific, especially in Japan, China, and South Korea, where the sweetener has been in use for a substantial period. Japan is emerging as a major consumer of the natural sweetener in the region. Stevia, currently, occupies almost 40% of Japan’s sweeteners industry. In China, the demand for stevia has not just been growing from the overseas markets but also from the domestic market. Thus, major manufacturers are investing more in expanding the production of the sweetener in China along with the rest of the region.
The Asia Pacific is also a leading consumer of the natural sweetener, accounting for over 40% of its global consumption. The region is followed by Europe as a leading consumer, representing about a fifth of the global consumption of the natural sweetener. The two areas are expected to witness a year-on-year acceleration in their stevia consumption in the forecast period. The markets in the two regions are being driven by the growing acceptance of the substance by both the consumers and manufacturers. The Asia Pacific and Europe accounted for the largest number of food and beverage launches, which were comprised of stevia as an ingredient.
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The EMR’s report titled “Asia Pacific Stevia Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Extract Type
Market Breakup by Application
Market Breakup by Region
The Asia Pacific stevia market is being driven by the rising health awareness among the consumers due to the growing incidences of obesity and diabetes in the region. The region has the largest population of overweight and obese people with two out of every five adults being either overweight or obese. China and India, on the other hand, have the largest number of diabetes cases in the world. India has nearly 62 million diabetic patients with the number projected to rise to 75 million by 2026. With a growing awareness about these diseases, people in the region are increasingly seeking out sugar-substitutes. With a growing aversion to artificial products, consumers are also seeking out natural products like stevia over artificial sweeteners.
The Asia Pacific stevia market is being propelled forward by the growing population combined with a rise in urbanisation. With busier lifestyles and increasing spending powers, consumers in the region are looking for healthier and convenient ready-to-eat foods and RTD beverages, providing further impetus to the stevia industry. The rise in disposable incomes has resulted in consumers seeking out organic and premium products, further aiding the industry growth. The Asia Pacific stevia market is also being driven by younger, more calorie-conscious consumers. Additionally, the expanding application of stevia is propelling the market forward. Toothpaste and cosmetic products like lipsticks, and lip balm have started incorporating the natural sweetener.
The thriving food and beverage industry in the region is providing further impetus to the Asia Pacific stevia market growth. India is expected to witness the fastest growth in the sales of food and beverages in the coming years with sales growing annually by 13.1% in the period 2018-2023. China, on the other hand, is the largest food and beverage industry in the region and is expected to witness a growth of 10.7% per annum till 2021. The robust beverage industry, especially in Hong Kong, will also contribute to the stevia industry growth in the coming years.
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The report provides a detailed insight into the following key players in the Asia Pacific stevia market, covering their market share, capacity, and latest developments like expansions of capacity, mergers and acquisitions, and plant turnarounds:
The EMR report gives an in-depth look into the market based on the Porter’s Five Forces model. It also looks into the other global markets like North America, Europe, Latin America, and the Middle East and Africa. A SWOT analysis has been provided, as well.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the Asia Pacific stevia market attained a value of nearly USD 227.91 Million.
The Asia Pacific stevia market is projected to grow at a CAGR of about 11.20% in the forecast period of 2024-2032.
The market is expected to reach a value of about USD 592.52 Million by 2032.
The major drivers of the market include the rising disposable incomes, increasing population, and the rising health awareness among the consumers due to the growing incidences of obesity and diabetes.
The rising acceptance of the product by both the consumers and manufacturers is expected to be a key trend guiding the growth of the market.
China, India, and Japan, among others, are the leading regions in the market, with China accounting for the largest market share.
The leading extract types of stevia in the market are leaf, powder, and liquid.
The major application segments in the market are food and beverages, oral care, tabletop sweetener, and pharmaceuticals, among others.
Cargill, Incorporated, Archer Daniels Midland Company, Ingredion Incorporated, Tate & Lyle PLC, SteviaPac Food Innovation, Layn Corporate, Zhucheng HaoTian Pharm Co.,Ltd, Sunwin Stevia International, Inc, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Extract Type |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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