The global stevia market is expected to rise from US$ 405.6 million in 2024 to US$ 739.4 million by 2034. By 2034, the market is projected to surge at 6.2% CAGR.

Stevia’s market is expanding due to increased demand for calorie-free, natural sweeteners. Given the increased worry about sugar’s potential negative health effects, stevia’s plant-based origins and zero-calorie properties have gained popularity. The acceptance of healthy alternatives in the food and beverage industry, which encourages innovation and product variety, is driving market growth.

Get Your Sample Report Now!

Stevia powder extract’s long shelf life and ease of shipment continue to have an impact on expansion plans. The market share of powder extract, which also includes stevia mixes and glycosides, is expected to reach around 90% by 2021, thus companies are focusing their efforts solely on this area.

Although conventional stevia has a large market share, demand for organic variants will increase in the future years. Growing customer preferences for healthier products, as well as increased health awareness, are propelling the organic stevia market.

Stevia is commonly found in dairy products, baked goods, dietary supplements, drinks, packed meals, confections, snacks, tabletop sweeteners, and other products (such as electrolyte powder and pharmaceutical formulations). The widespread consumption of beverages contributes greatly to the manufacturers’ profits.

WHO & Government Support for the Use of Stevia in the Food & Beverages Industry Boosting the Market Growth

One of the main factors driving the expansion of the stevia market is assistance from health organizations and governments. The food and beverage business manufacturers must utilize the proper ingredients to win the consumers’ trust because they now determine a product’s safety by checking for certifications and government clearance.

Stevia has received approval from various regulatory bodies to be used as a natural sweetener in several end-use applications, offering significant impetus to the market growth.

Key Companies Profiled:

  • Cargill Incorporated
  • Ingredion Incorporated
  • Koninklijke DSM NV
  • Tate and Lyle Plc.
  • Sunwin Stevia International, Inc.
  • GLG Life Tech Corp
  • Evolva Holding SA Nemours & Co
  • Archer Daniels Midland Company
  • Stevia Nutra Corp.

Manufacturers Emphasize Building Consumer Trust through Transparency in Production

New technologies have provided consumers the accessibility to smart labels, through which they can track the journey of the products. Consumers are asking food companies to increase the transparency of their products, going beyond free-from status, ingredients, and nutritional levels.

Buyers are demanding to understand the background of the products – from where and how the ingredients were sourced to the manufacturing of the end product. Trust and transparency have become major challenges in the food and beverages industry, as governments don’t lay down any strict regulations and guidelines regarding clean labeling.

Companies have started using clean labeling as a catchword for promotional and marketing purposes and have taken advantage of this to sell their products as clean label products. Manufacturers need to adopt cleaner practices to sell their clean-label food products without alienating consumers’ trust.

This study by FMI offers insights into the stevia market for the forecast period of 2022-2032. The stevia market is projected to record a CAGR of ~ 7.2% during the predefined timeframe.

Drive Your Growth Strategy: Purchase the Report for Key Insights!

Global Stevia Market by Category:

By Nature, Global Stevia Market is segmented as:

  • Organic Stevia
  • Conventional Stevia

By Type, Global Stevia Market is segmented as:

  • Liquid Extract
    • Clear
    • Dark
  • Powder Extract
    • Stevia Blends
    • Glycoside (40%-79%)
    • Glycoside (80% and above)
  • Stevia Leaves

By Application, Global Stevia Market is segmented as:

  • Dairy Food Products
  • Bakery Products
  • Beverages
  • Packaged Food Products
  • Dietary Supplements
  • Confectionery Products
  • Snacks
  • Table Top Sweeteners
  • Others (Electrolyte Mixes and Medicinal Formulations)

By Region, Global Stevia Market is segmented as:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries:
LinkedInTwitterBlogs | YouTube

Leave a comment

Your email address will not be published. Required fields are marked *