Global Stevia Market Report and Forecast 2022-2027

Global Stevia Market Report and Forecast 2022-2027

Market Outlook

According to Expert Market Report’s latest report, ‘Global Stevia Market Report and Forecast 2022-2027’, the global stevia market attained a volume of nearly 8,412.60 MT in 2021. Furthermore, aided by rising health concerns, the market is projected to grow at a CAGR of 9.20% between 2022 and 2027 to reach a volume of 14,317.09 MT by 2027.

Stevia is a natural sweetener derived from the plant Stevia Rebaudiana. Flavonoids, triterpenes, tannins, caffeic acid, kaempferol, and quercetin are among the antioxidant compounds found in stevia. With the rising health concerns and many health benefits associated with its consumption, consumers are increasingly substituting stevia for sugar. Various food and beverage manufacturers also use coffee, tea, smoothies, and yoghurt to provide lower-calorie products. The rising demand for dietary food is aiding the high-intensity natural sweetener industry, leading to the higher utilisation of steviol glycosides. The trend towards health and wellness has also led to a growth in the demand for natural sweeteners over artificial sweeteners, particularly for the natural sweeteners derived from the stevia plant. The stevia market is also being driven by the increasing number of food and beverage companies seeking to reduce sugar in their products due to the rising consumer demand for healthier products and government schemes like levies on sugar and sugary products.

The growing innovations in the product's applications sectors, especially in the sports and energy drinks sector, are further aiding the global stevia market growth. The stevia market is being propelled forward in countries such as the United States, Canada, and Mexico by increased consumption of ready-to-drink beverages, which are expected to be a leading application sector for the natural sweetener in the coming years. In addition, the market is finding further impetus for its growth in its growing application in the non-food sectors. The pharmaceutical industry, especially, is emerging as a fast-growing application sector for natural sweeteners. It is also finding increasing uses in the health and beauty segments.

Market Segmentation

The market report by Expert Market Research analyses the market based on segmentation such as extract type, end-use, and major regions.

Market Breakup by Extract Type

• Powder
• Liquid
• Leaf

Market Breakup by End-Use

• Beverages
• Food Products
• Tabletop Sweeteners
• Pharmaceuticals
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the key players in the industry. Some of the major players in the market explored in the Expert Market Research report are:

• Layn Corp.
• Cargill, Incorporated
• ADM
• Ingredion Incorporated
• Tate & Lyle
• Others

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.