Global Stevia Market Outlook 2019-2024 by Product Form, Application & Geography - ResearchAndMarkets.com

DUBLIN--()--The "Stevia Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

The stevia market is forecasted to reach USD 934 million by 2024. It is expected to witness a CAGR of 8.43% during the forecast period (2019-2024).

Key Highlights

  • Increasing awareness of the health benefits of low-calorie consumable products is a major catalyst to the market growth. As the number of obese and diabetic people is on the rise, stevia is the best sugar alternative due to its zero-calorie property.
  • Ground stevia can also be sprinkled lightly overcooked vegetables, meat, cereals, and salads. Besides adding its own sweet taste, it significantly enhances the flavor and nutritional value of food, thereby leading to its increased demand in the market.

Market Trends

Liquid Stevia Expected to Be the Fastest Growing Segment

Liquid Stevia is projected to be the fastest growing segment as consumers are preferring liquid form of stevia to sweeten recipes. A few drops of the liquid stevia extract replaces a teaspoon of cane sugar and is useful for sweetening coffee, teas and smoothies. Liquid stevia is available in several forms such as syrups, resulting from boiling the leaves in water. The syrup is used to enhance the flavour of many foods. Commercial scale applications prefer liquid stevia as they are concentrated and very less quantity is required. Furthermore, the demand for alcohol-free liquid is growing at a greater pace in the segment.

Asia-Pacific Dominates the Market

Consumers have started to show interest in knowing the ingredients present in their foods, thus demanding better for me products. Most food manufacturers are responding to this new trend among consumers by developing products with lower sugar and lower calorie content, which are natural such as stevia. The United States has the highest consumption of stevia as a sweetener among all the countries in the North America region. Stevia extracts were only approved for use in the European Union in November 2011. Therefore, consumption of stevia is still very low. However, food & beverage manufacturers are rapidly developing products containing stevia. Asia-Pacific is the world's largest stevia consuming region, which has been achieved principally through rapid population growth.

Competitive Landscape

Cargill, Incorporated, PureCircle, Tate & Lyle, and Ingredion Incorporated are some of the companies leading the stevia market due to their new product launches. The companies are adopting strategies such as partnerships and new product launches in different forms such as leaves and liquid to increase their product line and share.

In February 2018, GLG Life Tech Corporation, in collaboration with Archer Daniels Midland Company, launched Reb M product line to expand its product portfolio. The stevia product line facilitates sugar replacement with better-tasting, low-calorie natural sweetening systems and solutions that provide better taste and experience.

Key Topics Covered

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

3.1 Market Overview

4 MARKET DYNAMICS

4.1 Market Drivers

4.2 Market Restraints

4.3 Porters Five Forces Analysis

5 MARKET SEGMENTATION

5.1 By Product Form

5.1.1 Powder

5.1.2 Liquid

5.1.3 Leaf

5.2 By Application

5.2.1 Bakery

5.2.2 Dairy Food Products

5.2.3 Beverages

5.2.4 Dietary Supplements

5.2.5 Confectionery

5.2.6 Others

5.3 Geography

5.3.1 North America

5.3.1.1 United States

5.3.1.2 Canada

5.3.1.3 Mexico

5.3.1.4 Rest of North America

5.3.2 Europe

5.3.2.1 Spain

5.3.2.2 United Kingdom

5.3.2.3 France

5.3.2.4 Germany

5.3.2.5 Russia

5.3.2.6 Italy

5.3.2.7 Rest of Europe

5.3.3 Asia-Pacific

5.3.3.1 China

5.3.3.2 India

5.3.3.3 Japan

5.3.3.4 Australia

5.3.3.5 Rest of Asia-Pacific

5.3.4 South America

5.3.4.1 Brazil

5.3.4.2 Argentina

5.3.4.3 Rest of South America

5.3.5 Africa

5.3.5.1 South Africa

5.3.5.2 Rest of Africa

6 COMPETITIVE LANDSCAPE

6.1 Most Adopted Strategies

6.2 Market Share Analysis

6.3 Company Profiles

6.3.1 Cargill, Incorporated

6.3.2 PureCircle

6.3.3 Tate & Lyle

6.3.4 Ingredion Incorporated

6.3.5 Archer Daniels Midland Company

6.3.6 Evolva

6.3.7 Stevia Corp.

6.3.8 GLG Life Tech Corp.

6.3.9 Sunwin Stevia International Inc.

6.3.10 HYET Sweet

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900