Global Stevia Drinks Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Stevia Drinks Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Stevioside is the main taste substance of stevia leaves. It is a tetracyclic diterpenoid composed of various sweet ingredients. Its sweetness is 200-350 times that of sucrose, and it contains almost no calories. The beverage formulated with stevia enhances the solubility of the active substance and promotes absorption by the human body. It has high functional value. The main features are low calorie, diuresis, swelling, blood sugar lowering and inhibition of obesity.

Market Overview:

The latest research study on the global Stevia Drinks market finds that the global Stevia Drinks market reached a value of USD 1955.25 million in 2022. It’s expected that the market will achieve USD 3668.0 million by 2028, exhibiting a CAGR of 11.05% during the forecast period.

Application in tea beverages

Studies have shown that in the process of sterilization and storage of tea beverages with added sucrose, the color of tea beverages becomes darker, and the content of tea polyphenols, catechins, amino acids and caffeine decreases, resulting in a decrease in sensory quality. By replacing sucrose with stevia, the browning of the beverage sterilization process is significantly reduced, which improves the shelf life and stability of the beverage and enhances the consumer's desire to purchase.
In addition, based on a large population, Southeast Asia has strong consumer power. Due to the influence of consumer preferences, the market demand for tea drinks in Southeast Asia is increasing, and tea drinks with stevia added are bound to become market trends.

Consumer preference change

Due to health considerations and current international trends, consumers are more inclined to low-sugar drinks, and the emphasis on healthy eating has gradually deepened. Low-sugar products are often more popular when the taste meets demand, which provides an opportunity for the development of the stevia beverage market.

Drink taste change

Beverage manufacturers use stevia, originally to reduce the sugar content, thus attracting more consumers concerned about health problems, but if the effect of reducing sugar is not obvious, it may not attract these consumers, but will lose some consumption. For the manufacturer, the formulation is difficult to modulate, which is the challenge. For the entire industry, market drivers will be affected.

Region Overview:

In global comparison, a significant portion of the revenue was generated in China (34.98% in 2022).

Company Overview:

The Coca-Cola Company is one of the major players operating in the Stevia Drinks market, holding a share of 27.77% in 2023.

The Coca-Cola Company

Founded in 1892, the Coca-Cola Company is a manufacturer, retailer and marketer of non-alcoholic concentrated drinks and syrups. The company is known for its flagship product, Coca-Cola.

Pepsi Company

PepsiCo operates as a food and beverage company worldwide. The Company is engaged in the manufacturing, marketing, distribution and sale of grain-based snacks, carbonated and non-carbonated beverages, and foods. Its complementary portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana.

Segmentation Overview:

Among different product types, Soda segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Entertainment segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Stevia Drinks market covered in Chapter 3:

Hartwall
The Coca-Cola Company
Zevia
Pepsi Company
Nongfu Spring
Uni-President Enterprises Corporation

In Chapter 4 and Chapter 14.2, on the basis of types, the Stevia Drinks market from 2018 to 2029 is primarily split into:

Fruit Juices
Soda
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Stevia Drinks market from 2018 to 2029 covers:

Entertainment
Life Science

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)