A key factor driving the growth of the market is health benefits. Health benefits associated with stevia are diabetic control and weight loss. Stevia is increasingly becoming popular for its ability to regulate blood sugar levels in the body. This is because it contains stevioside (a non-carbohydrate glycoside compound). With rise in the number of diabetic patients, health awareness is increasing by the year. This will lead to an increase in demand for stevia during the forecast period. Furthermore, high obesity rate is a serious concern which often compels consumers to seek artificial sweeteners that will not increase their calorific intake. However, the health hazards associated with artificial sweeteners encourage the demand for natural sweeteners. Stevia is a zero-calorie natural sweetener which facilitates the consumption of foods such as cakes, cookies and candies without significantly increasing the calorific intake. Such benefits are expected to boost the growth of the global stevia market.
This market research report on the global stevia market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing demand for flavored stevia as one of the key emerging trends in the global stevia market:
Global stevia market: Growing demand for flavored stevia
Currently, the demand for flavored sweeteners is increasing and this trend is even applicable to the global stevia market. Hence, many players are offering flavored liquid stevia offerings. For instance, Sweet Leaf Stevia is selling liquid stevia in flavors such as caramel, vanilla, chocolate, coconut, and others. On the other hand, Nirvana Health Products is selling liquid stevia in a larger variety of flavors including caramel, vanilla, chocolate, peach, banana hazelnut, butterscotch, cola, strawberry, mango, mint, and others. During the forecast period many more players are expected to launch flavored liquid stevia offerings.
“Along with growing demand for flavored stevia, other factors such as growing demand for organic stevia and product innovations and launches using stevia are expected to further boost the growth of the global stevia market, during the forecast period,” says a senior analyst at Technavio for research on food.
Global stevia market: Segmentation analysis
This market research report segments the global stevia market by product (powder stevia and LALS), by application (beverage, food, pharmaceuticals and other applications) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share close to 53%, followed by APAC and EMEA respectively. However, during the forecast period, the APAC market is expected to register the highest incremental growth followed by the EMEA region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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