Stevia Beverages Market By Type (Powder, Liquid, Other), By Application (Soft Drinks, RTD Tea and Coffee, RTD Juice, Sports Drinks, Other Beverages), By Distribution Channel (Ecommerce, Hypermarket and Supermarket, Convenience stores, Independent retailers, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global stevia beverages market size was valued at $225.1 million in 2021, and is estimated to reach $523.5 million by 2031, registering a CAGR of 8.9% from 2022 to 2031.
The carbonated drinks industry showed a modest growth in the past. However, rise in prevalence of obesity and high blood sugar levels among the population resulted in increase in health consciousness among the consumers. Higher consumption of added sugar may lead to obesity that again results in various health diseases such as heart disease, diabetes, high blood pressure, and certain cancers. According to a study by the Global Burden of Disease, around 4.72 billion people died prematurely due to obesity and around 6.53 million people died due to high blood sugar in 2017. These numbers are the key factors attracting the consumers to opt for stevia beverages by replacing regular soft drinks. Therefore, manufacturers are now focusing on reducing the use of sugar and are constantly focusing on developing healthier, sugar-free options for regular carbonated drinks. Hence, the growth of the stevia beverages is expected to propel in the upcoming years.
Surge in expenditure on health & wellness products is helping the stevia beverages market to grow. As consumers become more health-conscious and look for ways to improve their overall health & well-being, they are increasingly turning to products that are perceived as healthier & more natural. Stevia-based beverages are a natural alternative to traditional sugary drinks and are perceived as healthier due to their low calories and low sugar content. This increased spending on health & wellness products is helping to drive the market for stevia beverages, as more consumers are looking for healthier alternatives to traditional sugary drinks. Furthermore, increase in awareness about the health risks of consuming high sugar beverages, is driving the demand for stevia-based beverages. This is particularly important for people who have diabetes or are at risk of developing it, and for those who are overweight or obese. These factors are expected to play a significant role in the growth of the stevia beverages market during the forecast period.
The carbonated drinks industry exhibited growth in the past few decades, but the health risks associated with these drinks are major restraints for the market. Though sugar-free is a healthy option, there are certain risks associated with the carbonation of drinks. Consumption of carbonated drinks may significantly reduce calcium from bones, erode tooth enamel, stomach blenching, and heartburn. These health risks associated with the consumption of carbonated drinks are forcing consumers to opt for non-carbonated drinks such as fruit juices and still water. Hence, carbonation itself is a constraining factor in the growth of the stevia beverages market. There has been a decline in demand for carbonated drinks in mature markets such as North America and Europe since 2016 owing to the health risks.
In recent years, the global stevia beverages market has witnessed an uptick owing to increase in awareness of the health benefits of low-calorie consumable products. Moreover, introduction of several stevia-based beverages is positively supporting the overall market and has been well appreciated by consumers. Further, demand for natural ingredient-based products along with the presence of antioxidants is expected to supplement the market growth.
The stevia beverages market is segmented on the basis of type, application, distribution channel, and region. By type, it is divided into powder, liquid, and other. Depending on application, it is segregated into soft drinks, RTD tea & coffee, RTD juice, sports drinks, and other beverages. As per distribution channel, it is classified into e-commerce, hypermarkets/supermarkets, convenience stores, independent retailers, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Russia, Spain, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Chile, Saudi Arabia, Africa, and rest of LAMEA).
Players operating in the global stevia beverages market have adopted various developmental strategies to expand their market share, exploit the market opportunities, and increase profitability in the market. The key players profiled in this report include PepsiCo, Inc., ViStevia, Plus Beverages, Stevi0cal, Steaz, Merisant Company, Group Krisda Stevia of Canada Inc, Zevia, The Coca-Cola Company, and Cargill, Incorporated.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the stevia beverages market analysis from 2021 to 2031 to identify the prevailing stevia beverages market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the stevia beverages market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global stevia beverages market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Powder
Liquid
Other
By Application
Soft Drinks
RTD Tea and Coffee
RTD Juice
Sports Drinks
Other Beverages
By Distribution Channel
Ecommerce
Hypermarket and Supermarket
Convenience stores
Independent retailers
Others
By Region
North America
U.S.
Canada
Mexico
Europe
UK
France
Germany
Russia
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
Chile
Saudi Arabia
Africa
Rest of LAMEA
Key Market Players
Stevi0cal
Plus Beverages
Zevia
ViStevia
Merisant Company
Steaz
PepsiCo, Inc.
The Coca-Cola Company
Group Krisda Stevia of Canada Inc
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