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The growing public awareness of healthier food alternatives, particularly among obese and diabetic people, has fueled the global Stevia Market’s growth.
JERSEY CITY, N.J., June 28, 2022 /PRNewswire/ — Verified Market Research recently published a report, "Stevia Market" By Form (Stevia Leaves, Dry Extract and Liquid Extract), By Application (Beverages, Food Products, Tabletop Sweeteners, Pharmaceuticals and Others), and By Geography. According to Verified Market Research, the Stevia Market size was valued at USD 701.7 Million in 2021 and is projected to reach USD 1,635 Million by 2030, growing at a CAGR of 9.1% from 2022 to 2030.
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Browse in-depth TOC on "Stevia Market"
202 – Pages
126 – Tables
37 – Figures
Global Stevia Market Overview
The market growth is driven by the increase in the customer demand for natural sugar alternatives, zero-calorie beverages, and healthier foods incorporating natural sugar substitutes due to rising disposable incomes, rising health concerns, and consumer awareness about food and lifestyle. Also, Stevia demand is expected to rise due to an increase in consumer preference for plant-based products. In addition, The market is also driven by factors such as the positive outlook for stevia as a natural sweetener due to rising demand for dietary food and an increasing number of innovative product developments for stevia and stevia-based products that are cost-effective and find application in a wide range of food & beverage applications thus resulting in the increasing number of food and beverage companies.
Furthermore, the factors such as government schemes, and growing innovations taking place in the applications are expected to aid the market growth. However, the price volatility of the stevia leaf is a major impediment to the growth of the stevia industry. Nonetheless, Stevia leaf availability is affected by seasonal fluctuations and crop yield. The decrease in stevia cultivation is expected to have an impact on the growing demand for stevia, resulting in a supply shortage and higher prices during the forecast period.
The major players in the market are Cargill, Ingredion Inc., PureCircle Ltd., Tate & Lyle PLC., Archer Daniels Midland Company, Evolva, Stevia Corp., GLG LIFE TECH CORP., Sunwin Stevia International, Inc. and HYET Sweet.
Verified Market Research has segmented the Global Stevia Market On the basis of Form, Application, and Geography.
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Stevia Market size worth $ 1,635 Million, Globally, by 2030 at 9.1% CAGR: Verified Market Research® – PR Newswire
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