Stevia

Stevia

Global Stevia Market to Reach US$1.1 Billion by 2030

The global market for Stevia estimated at US$714.8 Million in the year 2023, is expected to reach US$1.1 Billion by 2030, growing at a CAGR of 6.7% over the analysis period 2023-2030. Beverages Application, one of the segments analyzed in the report, is expected to record a 7.2% CAGR and reach US$439.0 Million by the end of the analysis period. Growth in the Dairy Application segment is estimated at 7.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$189.5 Million While China is Forecast to Grow at 11.2% CAGR

The Stevia market in the U.S. is estimated at US$189.5 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$277.5 Million by the year 2030 trailing a CAGR of 11.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.8% and 6.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR.

Global Stevia Market - Key Trends and Drivers Summarized

Why Is Stevia Gaining Momentum in the Sweetener Market?
Stevia, a natural, zero-calorie sweetener derived from the Stevia rebaudiana plant, is becoming increasingly popular as consumers seek healthier alternatives to sugar. With growing concerns about obesity, diabetes, and other sugar-related health issues, stevia offers a compelling solution for reducing sugar intake without sacrificing sweetness. The food and beverage industry is rapidly adopting stevia as a key ingredient in products such as soft drinks, baked goods, and confectionery. Its plant-based origin also appeals to consumers looking for clean-label and natural products, further driving its growth in the global sweetener market.

How Is Stevia Being Integrated into Food and Beverage Products?
Stevia is finding applications across a broad range of food and beverage products, with companies leveraging its sweetening power to create healthier versions of their offerings. Beverages, particularly carbonated drinks and flavored waters, have been early adopters of stevia, driven by the demand for sugar-free and low-calorie options. Dairy products, including yogurts and ice creams, are also incorporating stevia to provide a balanced taste without the added sugars. Technological advancements have led to the creation of stevia blends that address taste issues such as bitterness, making it easier for manufacturers to maintain product quality and flavor while reducing sugar content.

Which Market Segments Are Leading the Stevia Industry?
Types include liquid extracts, powdered extracts, and whole leaf stevia, with powdered extracts being the most widely used due to their versatility in formulation. Applications of stevia span beverages, bakery, confectionery, and dairy, among others with beverages accounting for the largest market share due to the growing trend toward sugar-free drinks. End-use industries include food and beverages, pharmaceuticals, and personal care, with food and beverages being the dominant segment. Geographically, North America and Asia-Pacific are leading markets for stevia, driven by consumer demand for natural sweeteners and regulatory support for sugar reduction initiatives.

What Is Driving the Growth of the Stevia Market?
The growth in the stevia market is driven by several factors, including increasing demand for natural and zero-calorie sweeteners, rising health concerns related to sugar consumption, and technological advancements in stevia extraction and formulation. The growing trend toward clean-label products, along with the demand for sugar reduction in processed foods and beverages, is fueling the adoption of stevia. Additionally, the expanding applications of stevia in pharmaceuticals, personal care, and dietary supplements are creating new growth opportunities. The development of stevia blends that address taste challenges and the rising popularity of stevia in emerging markets are further driving the growth of the stevia market.

Select Competitors (Total 41 Featured) -

• Archer Daniels Midland Company
• Biosweet Ventures
• Cargill, Inc.
• Evolva Holding SA
• GLG Life Tech Corporation
• Ingredion, Inc.
• Jhanil Healthcare Pvt. Ltd. (Zindagi)
• Jining Aoxing Stevia Products Co., Ltd.
• Merisant Company
• Morita Kagaku Kogyo Co., Ltd.
• PureCircle Ltd.
• Pyure Brands LLC
• S&W Seed Company
• Stevia Biotech Pvt. Ltd.
• Stevia Corp.
• Stevia First Corporation
• Stevial Sarl
• SteviaOne SA
• Sunwin Stevia International, Inc.
• Sweet Green Fields, LLC
• Tate & Lyle PLC
• The Real Stevia Company AB
• Van Wankum Ingrediens
• Zhucheng Haotian Pharm Co., Ltd.

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