Market – Overview
Stevia is a natural sweetener and sugar substitute extracted from the leaves of the plant species rebaudiana. The stevia plant has been used for more than 1,500 years by the Guaraní people of Brazil and Paraguay. These native South Americans love using this non-caloric natural sweetener in their yerba mate tea, as medicine and as a sweet treat. In these South American countries, stevia has also been used specifically as a traditional medicine for burns, stomach problems, colic and even as a form of contraception.
Steviol glycosides have zero calories. Stevia-based tabletop sweeteners can have zero or minimal calories per serving, depending upon the other food ingredients with which they are combined. These factors could have a positive effect on those looking to control weight or manage diabetes. The sweet components in stevia sweeteners are naturally occurring, which further benefit consumers who prefer perceive their foods and beverages as natural or for weight loss. The growing awareness about the health benefits associated with stevia is leading to the extensive use of these products in the food and beverage sector, thus driving the growth of the stevia market.
Increased demand for stevia-based products is attributed to the product development, improved taste, and versatility, along with high levels of marketing support which in turn is fueling the market growth. Some cold drinks manufacturers and energy drink companies are widely using Stevia instead of sugar in to the sparkling drinks that have low sugar content, and the zero-calorie stevia-based drinks to expand its consumer base. Such innovations in them market will attract customers and will enhance the growth of the stevia market during the forecast period. Additionally, the introduction of several stevia based products is providing impetus to the Stevia Market growth. Health organizations advocate the use of low-calorie sugar substitutes, while calling for higher production of stevia. Further, demand for natural ingredient products and antioxidants are additional factors expected to propel growth of Stevia market.
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Stevia Global Market – Key Players
The Stevia Market appears to be highly competitive. Key players operating in the market compete on the basis of price, quality, product differentiation, distribution, and promotion. The growing demand for low-calorie beverages such as juices, flavored water, sports drinks, energy drinks, and soft drinks is prompting the manufacturers to make products that are not only unique but also healthy. This is further intensifying the competition in the market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion
Profiled in MRFR Analysis some of the key players in Stevia market are Purecircle, Ingredion Inc. Tate & Lyle Plc., Evolva , Stevia Corp., Cargill Inc., GLG Life Tech Corp., Stevia Biotech Pvt. Ltd, Steviafirst and Xinghua GL Stevia Co.Ltd
Access the market data and market information presented through more than 60 market data tables and 25 figures spread over 110 numbers of pages of the project report “Stevia Market – Forecast to 2022”
Stevia Global Market – Segments
Stevia Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
- Segmentation by Form: Comprises Powder, Drop, Capsule, Syrup, Tablets and Others.
- Segmentation by Application: Comprises table top sweeteners, confectionery, dietary supplements, pharmaceuticals and others.
- Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Market – Synopsis
Secondary data reveals that the stevia market is projected to grow more than 7% annually post the year 2022.
Consumer’s demand for healthy alternative to table sugar is on increase. Stevia is low caloric, doesn’t affect the blood glucose level. It is trending due to its low caloric property, it helps people maintain their daily calories and low carb intake
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China dominates the stevia market in terms of production and exports. In terms of geography, the APAC region is the largest contributor to this market as the demand for products containing stevia as an ingredient is on the rise in this region. Based on regional analysis, Asia Pacific excluding Japan (APEJ) and North America will continue to dominate the global stevia market. Low cost of production and availability of skilled resource is a major factor driving for the market growth in APEJ.
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