The latest report by IMARC Group, titled “Stevia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” offers a comprehensive analysis of the stevia market trends. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global stevia market size reached US$ 763.0 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,438.3 Million by 2032, exhibiting a growth rate (CAGR) of 7.1% during 2024-2032.
Stevia Market Trends:
The global market is primarily driven by the increasing demand for natural, zero-calorie sweeteners, as consumers seek healthier alternatives to sugar amid rising concerns over obesity and diabetes. In line with this, the growing preference for plant-based and organic products, which is derived from natural plant sources and fits within the broader trend towards clean-label ingredients is augmenting the market demand. Moreover, the expanding use in the food and beverage industry, particularly in the production of low-calorie products such as soft drinks, dairy, and confectionery, is further fueling market growth. Furthermore, the increasing regulatory approvals for stevia as a food additive in various regions are also driving its global market penetration. Apart from this, the continuous innovation in extraction and formulation techniques, leading to improved taste profiles and broader application possibilities, is enhancing the market appeal.
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Global Stevia Market Scope & Growth Analysis:
The scope of the market is broadening as the demand for healthier and natural sweeteners continues to rise across various industries. Market analysis indicates that the factor broadening the market scope is the increasing application of stevia in emerging sectors, such as personal care and cosmetics, where it is used for its moisturizing and anti-inflammatory properties. Additionally, the rapid expansion of stevia cultivation in new geographic regions, supported by advancements in agricultural practices, is creating new opportunities for market growth. The market scope is also benefiting from the development of stevia-based blends and formulations that cater to specific consumer preferences, such as enhanced sweetness or reduced aftertaste. Moreover, the growing emphasis on sustainability and environmentally friendly sourcing is further catalyzing the market, as it is considered a renewable and eco-friendly sweetener option. The growing demand for natural sweeteners in the pharmaceutical and nutraceutical industries, is another significant market driver.
Competitive Landscape with Key Players:
- Archer-Daniels-Midland Company
- Cargill Incorporated
- GLG Life Tech Corporation
- Guilin Layn Natural Ingredients Corp.
- Hunan NutraMax Inc.
- Ingredion Incorporated
- Morita Kagaku Kogyo Co. Ltd.
- Pyure Brands LLC
- Sunwin Stevia International Inc
- Tate & Lyle PLC
- The Real Stevia Company AB
- Wisdom Natural Brands
- Zhucheng Haotian Pharm Co. Ltd.
Key Market Segmentation:
Breakup by Extract Type:
- Powder
- Liquid
- Leaf
Breakup by End Use:
- Beverages
- Food Products
- Table Top Sweeteners
- Pharmaceuticals
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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