January 2019: Adroit Market Research published a study titled, “Global Stevia Market Size 2017 By Application (Beverage, Food, Pharmaceutical, Tabletop Sweeteners, and Others), and by Region and Forecast 2018 to 2025”. The report includes drivers, restraints, and opportunities of the global stevia market. It also covers the impact of these market trends on the global stevia market share. The report provides a detailed value chain to provide a comprehensive view of the stevia market. The global stevia market size has been also analyzed considering the stevia market trends in different geographies. The report also provides a deep understanding of the strategies adopted by key players which are bound to impact the stevia market growth.
The global stevia market size is estimated to be worth USD 844.2 million by 2025. The growing concerns over health and nutrition is a primary factor resulting in an elevated demand for natural sweeteners across the globe. Furthermore, rising diabetes incidences have led to an increasing interest in the use of stevia to help people manage their blood sugar levels. Another factor facilitating the growth of the global stevia market as it rendered safe by various food safety organizations, which has led to increased use in different applications by manufacturers. For instance, the European Food Safety Authority and the World Health Organization, both, have recognized stevia as safe.
Beverages are projected to hold a valuation of approximately USD 300 million by 2025 growing at a CAGR of 6.8% during the forecast period within the global stevia market. Stevia is one of the most popular natural sweeteners used in beverages such as flavored water, fruit juices, diet carbonated drinks, soft drinks, sports & energy drinks, and ready-to-drink beverage. In alcoholic drinks like beer and cocktails, stevia is used to reduce sugar. It also enhances the mouthfeel perception in iced coffee to make it seem creamier. This application is expected to see the fastest growth in the forecast period due to the increasing demand for stevia in different carbonated beverages. In addition, stevia is also used in low-calorie and zero-calorie drinks to cater to the increasing demand from health-conscious consumers.
Growing investments by leading food and drink manufacturers such as Cargill, The Coca-Cola Company and PepsiCo are also expected to increase the global stevia market demand over the forecast period. Increasing concerns over added sugars are creating new opportunities for beverage innovation. The rapid growth of stevia in the beverage market is a testament to its many advantages, including 100% natural origin, tooth-friendly, zero calories, pH stable, non-fermenting, thermally stable, highly soluble and shelf-stable. As consumers cut calories from their diets, they shift from traditional alternatives to sparkling and still waters to keep them refreshed. Flavored water launches have doubled over the last five years. Carbonated soft drinks are the next developing segment having immense potential for growth.
The global stevia market analysis reveals that trends differ across various geographies. North America is projected to hold a market share of more than 20% of the global stevia market size by 2025. Rising consumer awareness regarding the benefits of natural sweeteners is expected to have a positive impact on the global stevia demand. The demand for natural food products is increasing due to the growing awareness of the health effects of artificial ingredients among consumers. The increasing number of diabetic consumers is another major driver for the increased consumption of stevia. The annual health report of the United Health Foundation in the United States found that obesity rates among American adults increased by 5% in 2018, from 29.9% in 2017 to 31.3% in 2018. Obesity was the highest among adults between 45 and 64 years of age, which is expected to grow further in the future. Government support for the reduction of sugar intake is also anticipated to push the demand for stevia. For instance, the World Health Organization (WHO) guideline recommends adults and children to reduce their daily free sugar intake, thereby driving stevia demand. Companies like Coca Cola and PepsiCo have already included stevia as a sweetener in their drinks in the United States. These factors have thus, impacted the stevia market share growth in the region.
The competitive landscape of the global stevia market is fragmented with a large number of players with a global presence. The key players covered in the global stevia market includes Evolva Holding S.A., Cargill Inc., Stevia Corporation, PureCircle, Ingredion Incorporated, The Coca-Cola Company, Pepsico Inc., GLG Life Tech Corp, Tate & Lyle Plc, and Stevia First Corporation among others.
Key segments of the global stevia market
Application Overview, 2015-2025 (Tons) (USD Million)
- Tabletop sweeteners
Regional Overview, 2015-2025 (Tons) (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East and Africa
Key Players analysed in the report include
- Evolva Holding S.A.
- Stevia Corporation
- Cargill Inc.
- Ingredion Incorporated