Reports
Global Stevia Market Size, Share, Growth, Trends, Analysis: By Extract Type: Powder, Liquid, Leaf; By End Use: Beverages, Food Products, Tabletop Sweeteners, Pharmaceuticals, Others; Regional Analysis; Market Dynamics: Porter’s Five Forces Analysis; Price Analysis; Competitive Landscape; Industry Events and Developments; 2024-2032
Global Stevia Market Outlook
The global stevia market size attained a value of approximately USD 843.19 million in 2023. The market is expected to grow further in the forecast period of 2024-2032 at a CAGR of 10.7%, reaching a value of USD 2114.51 million by 2032.
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Stevia can help manage diabetes, promote weight loss, control blood pressure, lower cholesterol, preserve oral health, enhance skincare, and protect against osteoporosis. The prevalence of various health concerns and conditions including obesity and diabetes as well as the rising demand for natural sweeteners are the primary drivers of the stevia market growth.
Consumers have switched to stevia, natural sweeteners, and stevia market products as a result of the increased awareness of the harmful health effects of sugar-sweetened drinks (SSBs), commonly known as sweetened beverages. As per the stevia market report, health risks of high sugar consumption have prompted more consumers to purchase food items with healthier substitutes in order to minimise their intake of sugar, helping prevent obesity, diabetes, and similar conditions.
The availability of stevia extract in various forms, such as powder, liquid, and leaves, as well as the expanding use of these ingredients in products like beverages, baked goods, confections, dairy goods, and cereal-based items, among other things, are expected to increase the stevia market demand in the future. Pharmaceuticals, cosmetics, and other industries also employ stevia extracts. Another factor anticipated to contribute to the global market's continued revenue growth during the forecast period is the expansion of application areas and end products, which would further contribute to the demand for stevia and the stevia ingredient market size.
Market Segmentation
Stevia, a natural sweetener, is derived from the leaves of Stevia rebaudiana. Steviol glycosides, the active compounds in stevia, are 30 to 150 times sweeter than sugar.
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On the basis of extract type, the market is categorised into:
- Powder
- Liquid
- Leaf
Based on end use, the market is divided into:
- Beverages
- Food Products
- Tabletop Sweeteners
- Pharmaceuticals
- Others
The report also covers the regional stevia markets like North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.
Market Analysis
The rising health concern and consumer awareness about drinks with high sugar content is increasing the stevia market size as consumers are seeking low-calorie alternatives. The rising demand for dietary food is aiding the high-intensity natural sweetener industry leading to the higher utilisation of steviol glycosides. The trend towards health and wellness has also led to a growth in the demand for natural sweeteners over artificial sweetener, particularly for the natural sweeteners derived from the stevia plant.
The global stevia market share is also increasing due to the increasing number of food and beverage companies seeking to reduce sugar in their products due to the rising consumer demand for healthier products along with schemes by various governments like levies on sugar and sugary products. The growing innovations taking place in the applications sectors of stevia, especially in the sports and energy drinks sector are further aiding the global stevia market growth.
The global stevia market is finding further impetus for its growth in its growing application in the non-food sectors as well. The pharmaceutical sector, especially, is emerging as a fast-growing application sector for stevia. It is also finding growing uses in the health and beauty segments where it is used in toothpaste and health supplements as a sweetener.
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Regional Analysis
According to the stevia market research, the Asia Pacific and Europe are the leading stevia regional markets. The two regions are witnessing increasing use of the natural sweetener with each passing year. While the Asia Pacific accounts for 40% of the global stevia consumption, Europe represents over a fifth of the global stevia market in terms of consumption.
In the Asia Pacific, the market is being driven by the growing alternative sweetener industry. According to the stevia industry outlook, the alternative sweetener market in the region is being driven by the increasing health concern due to the rising number of people suffering from obesity and diabetes. The Asia Pacific region is a leading producer in the market, with China being its largest producer. Japan, on the other hand, is a leading consumer of the natural sweetener in the region. Stevia accounts for nearly 40% of the sweetener industry in Japan.
European producers, meanwhile, import stevia leaves from other overseas markets and process them to extract pure stevia sweetener, thus affecting the stevia market price in the country. The two leading regions in the market, the Asia Pacific and Europe, also contributed to the most food and beverage products launches containing stevia.
Latin America and North America are the other significant stevia markets. These markets are driven by the growing rates of obesity and diabetes in the regions along with government schemes discouraging sugar consumption. The natural sweetener finds its maximum application in soft drinks in Latin America and North America. Sports nutrition and dairy are the other leading application sectors in the areas.
In North America, in countries like the United States, Canada, and Mexico, the stevia industry size is increasing owing to the higher consumption of ready-to-drink beverages, which are projected to be a leading application sector for the natural sweetener in the entire North America in the coming years. In the United States, the market for natural sweeteners is projected to witness a healthy growth. The North America stevia market is finding impetus for its growth in the robust production and export of non-alcoholic beverages. Meanwhile, the stevia market Middle East and Africa is also expected to witness growth in the coming years, fuelled by major players investing in the region and increasing incorporation of stevia into traditional foods.
Competitive Landscape
The report provides a detailed insight into the following key players in the global stevia market, covering their market share, capacity, and latest developments like capacity expansions, mergers, acquisitions, and investments, and plant turnarounds:
- Layn Corp.
- Cargill, Incorporated
- ADM
- Ingredion Incorporated
- Tate & Lyle
- GLG Life Tech Corporation
- Pyure Brands LLC
- Sunwin Stevia International Inc
- Steviva Brands, Inc.
- Zhucheng Haotian Pharm Co., Ltd. (“HOWTIAN”)
- MORITA KAGAKU KOGYO CO., LTD.
- Wisdom Natural Brands
- SweeGen, Inc
- Hunan NutraMax Inc.
- The Real Stevia Company
- Others
The comprehensive report by EMR looks into the manufacturing process and the costs involved. It gives an assessment of the global stevia market based on the Porter’s Five Forces model. A SWOT analysis has also been provided.
Key Highlights of the Report
| 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:
|
| Breakup by Extract Type |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Stevia Market Analysis
8.1 Key Industry Highlights
8.2 Global Stevia Historical Market (2018-2023)
8.3 Global Stevia Market Forecast (2024-2032)
8.4 Global Stevia Market by Extract Type
8.4.1 Powder
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Liquid
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Leaf
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.5 Global Stevia Market by End Use
8.5.1 Beverages
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Food Products
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Tabletop Sweeteners
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Pharmaceuticals
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Stevia Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Spain
9.2.3.6 Russia
9.2.3.7 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Indonesia
9.3.3.7 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Columbia
9.4.3.5 Chile
9.4.3.6 Peru
9.4.3.7 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Iran
9.5.3.4 Turkey
9.5.3.5 South Africa
9.5.3.6 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Price Analysis
13 Manufacturing Process
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Layn Corp.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.3.1.4 Financial Summary
14.2.1.5 Certifications
14.2.2 Cargill, Incorporated
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.3.2.4 Financial Summary
14.2.2.5 Certifications
14.2.3 ADM
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.3.3.4 Financial Summary
14.2.3.5 Certifications
14.2.4 Ingredion Incorporated
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.3.4.4 Financial Summary
14.2.4.5 Certifications
14.2.5 Tate & Lyle
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.3.5.4 Financial Summary
14.2.5.5 Certifications
14.2.6 GLG Life Tech Corporation
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.3.6.4 Financial Summary
14.2.6.5 Certifications
14.2.7 Pyure Brands LLC
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.3.7.4 Financial Summary
14.2.7.5 Certifications
14.2.8 Sunwin Stevia International Inc
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.3.8.4 Financial Summary
14.2.8.5 Certifications
14.2.9 Steviva Brands, Inc.
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.3.9.4 Financial Summary
14.2.9.5 Certifications
14.2.10 Zhucheng Haotian Pharm Co., Ltd. (“HOWTIAN”)
14.2.10.1 Company Overview
14.2.10.2 Product Portfolio
14.2.10.3 Demographic Reach and Achievements
14.3.10.4 Financial Summary
14.2.10.5 Certifications
14.2.11 MORITA KAGAKU KOGYO CO., LTD.
14.2.11.1 Company Overview
14.2.11.2 Product Portfolio
14.2.11.3 Demographic Reach and Achievements
14.3.11.4 Financial Summary
14.2.11.5 Certifications
14.2.12 Wisdom Natural Brands
14.2.12.1 Company Overview
14.2.12.2 Product Portfolio
14.2.12.3 Demographic Reach and Achievements
14.3.12.4 Financial Summary
14.2.12.5 Certifications
14.2.13 SweeGen, Inc
14.2.13.1 Company Overview
14.2.13.2 Product Portfolio
14.2.13.3 Demographic Reach and Achievements
14.3.13.4 Financial Summary
14.2.13.5 Certifications
14.2.14 Hunan NutraMax Inc.
14.2.14.1 Company Overview
14.2.14.2 Product Portfolio
14.2.14.3 Demographic Reach and Achievements
14.3.14.4 Financial Summary
14.2.14.5 Certifications
14.2.15 The Real Stevia Company
14.2.15.1 Company Overview
14.2.15.2 Product Portfolio
14.2.15.3 Demographic Reach and Achievements
14.3.15.4 Financial Summary
14.2.15.5 Certifications
14.2.16 Others
15 Industry Events and Developments
List of Key Figures and Tables
1. Global Stevia Market: Key Industry Highlights, 2017 and 2027
2. Global Stevia Historical Market: Breakup by Extract Type (USD Million), 2018-2023
3. Global Stevia Market Forecast: Breakup by Extract Type (USD Million), 2024-2032
4. Global Stevia Historical Market: Breakup by End Use (USD Million), 2018-2023
5. Global Stevia Market Forecast: Breakup by End Use (USD Million), 2024-2032
6. Global Stevia Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Stevia Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Stevia Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Stevia Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Stevia Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Stevia Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Stevia Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Stevia Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Stevia Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Stevia Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Stevia Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Stevia Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Stevia Market Structure
Key Questions Answered in the Report
In 2023, the global stevia market attained a value of nearly USD 843.19 million.
The market is projected to grow at a CAGR of 10.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 2114.51 million by 2032.
The major drivers of the market are rising disposable incomes, the increasing number of food and beverage companies, schemes by various governments, and growing innovations taking place in the applications of stevia.
The key market trend guiding the growth of the stevia market include increasing health concern and consumer awareness about drinks with high sugar content and rising demand for dietary food.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Powder, liquid, and leaf are the major extract types of stevia in the market.
Beverages, food products, tabletop sweeteners, and pharmaceuticals, among others are the significant end uses of stevia.
The major players in the market are Layn Corp., Cargill, Incorporated, ADM, Ingredion Incorporated, Tate & Lyle, GLG Life Tech Corporation, Pyure Brands LLC, Sunwin Stevia International Inc, Steviva Brands, Inc., Zhucheng Haotian Pharm Co., Ltd. (“HOWTIAN”), MORITA KAGAKU KOGYO CO., LTD., Wisdom Natural Brands, SweeGen, Inc, Hunan NutraMax Inc., and The Real Stevia Company, among others.
Analyst Review
The global stevia market attained a value of USD 843.19 million in 2023 driven by rising health concern and consumer awareness about drinks with high sugar content and growing demand for dietary food. Aided by favourable policies of various governments, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 10.7%. The stevia market is projected to reach a value of USD 2114.51 million by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its extract types, the global stevia market can be segmented into powder, liquid, and leaf. On the basis of end use, the market is divided into beverages, food products, tabletop sweeteners, and pharmaceuticals, among others. The major regional markets for stevia are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Layn Corp., Cargill, Incorporated, ADM, Ingredion Incorporated, Tate & Lyle, GLG Life Tech Corporation, Pyure Brands LLC, Sunwin Stevia International Inc, Steviva Brands, Inc., Zhucheng Haotian Pharm Co., Ltd. (“HOWTIAN”), MORITA KAGAKU KOGYO CO., LTD., Wisdom Natural Brands, SweeGen, Inc, Hunan NutraMax Inc., and The Real Stevia Company, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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