Stevia Market, By Extract Type (Liquid Extract, Powder Extract and Leaf), By Application (Dairy Food Products, Bakery Products, Dietary Supplements, Beverages, Packaged Food Products, Confectionery Products, Snacks, Table Top Sweeteners, and Others), By G

Stevia Market, By Extract Type (Liquid Extract, Powder Extract and Leaf), By Application (Dairy Food Products, Bakery Products, Dietary Supplements, Beverages, Packaged Food Products, Confectionery Products, Snacks, Table Top Sweeteners, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

The stevia Market size is valued at US$ 1 Bn in 2024 and is expected to reach US$ 1.79 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.

Figure 1. Global Stevia Market Share (%), By Region, 2024

Global stevia market has been witnessing significant growth in the past few years owing to rising health consciousness among consumers and growing demand for low-calorie natural sweeteners. Stevia is emerging as a healthier alternative to artificial sweeteners as it is obtained from the leaves of the plant stevia rebaudiana and has zero calories. Increasing prevalence of diabetes and obesity has prompted consumers to move towards natural low-calorie sweeteners like stevia. Moreover, stevia has gained acceptance from regulatory bodies and food manufacturers due to its negligible impact on blood sugar. Stevia finds wide application in the food and beverage industry for products like yogurt, table-top sweeteners, soft drinks, and fruit juices. The market is anticipated to further strengthen in the near future on account of rising demand from the confectionery segment and innovative product launches.

Market Dynamics:

The key factors driving the growth of the global stevia market include growing health awareness and changing lifestyles of consumers, rising prevalence of lifestyle diseases such as diabetes and obesity, wide application in the food and beverage industry as a healthier sugar substitute and product diversification with new product launches. However, factors such as availability of substitutes and lack of consumer awareness in developing nations are expected to impede the market growth. Meanwhile, the untapped markets in emerging economies present lucrative expansion opportunities for market players. Stevia extract volume has witnessed exponential growth over the years with increasing adoption as a suitable alternative to artificial sweeteners. Innovation and advancements, especially in extraction processes and production techniques have enabled meeting growing industrial demand.

Key features of the study:

• This report provides in-depth analysis of the global stevia market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global stevia market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Nestlé S.A., The Coca-Cola Company, PepsiCo Inc., Cargill Inc., Evolva Holding S.A., PureCircle Ltd., Stevia Corp., Ingredion Inc., GLG Life Tech Corp., and Tate & Lyle Plc.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• Global stevia market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analysing the global stevia market.

Detailed Segmentation:

• Global Stevia Market, By Extract Type
• Liquid Extract

 Clear

 Dark

• Powder Extract

 Stevia Blends

 Glycoside (40–50%)

 Glycoside (80–95%)

• Leaf
• Global Stevia Market, By Application
• Dairy Food Products

 Ice Cream

 Yogurt

 Flavored Milk

• Bakery Products

 Bread & Rolls

 Biscuits

 Cakes

 Others

• Dietary Supplements
• Beverages

 Energy Drinks

 Soft Drinks

 Hot Drinks

 Flavored Drinks

 Natural Sweetened Water

• Packaged Food Products

 Pickles

 Jam

 Sauce

 Chilled

 Nutritional Products

 Frozen Food

• Confectionery Products
• Snacks

 Potato Chips

 Processed Snacks

 Other Snacks

• Table Top Sweeteners
• Others
• Global Stevia Market, By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
• Top Companies in the Global Stevia Market
• Nestlé S.A.
• The Coca-Cola Company
• PepsiCo Inc.
• Cargill Inc.
• Evolva Holding S.A.
• PureCircle Ltd.
• Stevia Corp.
• Ingredion Inc.
• GLG Life Tech Corp.
• Tate & Lyle Plc.