Food and Beverage Stevia Market is projected to grow up to 11.6% CAGR during the forecasting period 2021-202...

Stevia Market is projected to grow up to 11.6% CAGR during the forecasting period 2021-2027.

Stevia is a natural substance derived from a plant species known as Stevia Rebaudiana, which grows in South America. It is a zero-calorie, all-natural sweetener that is 80 to 200 times sweeter than sugar. Flavonoids, triterpenes, tannins, caffeic acid, kaempferol, and quercetin are among the antioxidant chemicals found in stevia. Consumers are increasingly replacing stevia for sugar due to greater awareness and a plethora of health benefits linked with its use. Growing consumer demand for nutrition-rich goods to lead a healthy lifestyle is likely to drive positive growth in the stevia market over the forecast period. This is due to the presence of antioxidant chemicals, caffeic acid, quercetin, flavonoids, and tannins in the ingredients. The numerous health benefits that stevia provides have piqued the interest of producers, who plan to use the substance in yoghurt, tea, and coffee. Because the millennial generation prefers low-calorie foods and beverages, the demand for stevia is expected to rise. The Global Stevia Market study provides a comprehensive analysis of the market. The research provides an in-depth examination of major segments, trends, drivers, restraints, the competitive landscape, and factors that are important in the market.

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Key Driving Factors: Stevia's physical and chemical qualities make it ideal for confectionery goods.

Sugar, dextrose (glucose), and corn syrups are the most often used sweeteners in the confectionery industry, and they are essential in the creation of hard candy, caramel, taffy, chewing gum, chocolate, and gummed candies, among other confectionery items. Besides serving a purpose in these things, they are commonly employed due to their inexpensive cost, widespread availability, and convenience of use during the manufacturing process. Many sweetened confections are based on the qualities of stevia, which is used in their formulations. The final product may benefit from the addition of stevia because it provides sweetness, increased mouthfeel, crystallisation (which improves texture), form (which improves shape), prolonged shelf life (which improves flavour), and colour.

Opportunities:  The rising number of product offerings and advancements in the food and beverage industry, as well as the necessity to meet the sugar substitute needs of diabetic and obese consumers, all contribute to the market's potential growth. As more effective technologies are developed, more acceptable Stevia extracts will gain market penetration. Because stevia is low in calories, it has a tremendous potential in the sugar substitute industry.

This report offers the major market player’s profiles, such as Cargill (US), Ingredion Incorporated (US), Tate & Lyle Plc (UK), PureCircle Ltd (Malaysia), GLG Life Tech Corporation (Canada), Wild Flavors and Specialty Ingredients (Germany), Sunwin Stevia International, Inc. (China), S&W Seed Co (US), Pyure Brands LLC (US), Morita Kagakau Kogyo Co., Ltd. (Japan), Zhucheng Haotinan, Pharm Co., Ltd (China), and Evolva Holdings SA (Switzerland).

Based on Application:  The market is segmented into five categories based on application: beverages, food products, tabletop sweeteners, pharmaceuticals, and others. The beverages segment accounted for the largest proportion of the overall market. Because of increased consumption of ready-to-drink beverages and the increasing inclination of beverage firms to use stevia as a natural sweetener in order to create products with better taste while consuming fewer overall calories, the market for stevia is expected to grow.

The Stevia Market report has been categorized as below

By Extract Type

  • Whole leaf

  • Powdered

  • Liquid

By Application

  • Dairy

  • Bakery & confectionery

  • Tabletop sweeteners

  • Beverages

  • Convenience foods

  • Others

By Form

  • Dry

  • Liquid

By Region

  • North America

  •  Europe

  • Asia Pacific

  • Rest of World

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Published Date : September-2021