Stevia is basically a sweetener as well as substitute of sugar which is extract from the leaves of stevia plant. It holds an important place under sweetener segment due to its varied advantages such as significant protein ingredient and low calorie. The increasing awareness about health advantages related to stevia has led to extensive utilization of stevia in food and beverages sector. The most active and major compounds available in stevia are known as rebaudioside A and stevioside which are highly responsible for its sweetness. Stevia has been utilized in various countries of Latin America such as Brazil and others. It is a 100% natural and zero-calorie sweetener which is 200 times sweeter than sugar and is utilized for health related problems. Apart from this, it is highly suitable for diabetic patients as well due to its low glycemix index as it does not impact the blood sugar levels. Rising disposable income and changing lifestyle in developing countries as well as maintaining a proper health is anticipated to expand the growth of global food and beverage stevia market till 2029. Change in lifestyle along with increased consumption of low calorie food is expected to drive the growth of global food & beverage stevia market over the forecast period. Besides this, rising obese and diabetic patients over the world is expected to bolster the growth of global food & beverage stevia market growth between 2021 and 2029. Apart from this, changing government regulations and emphasis for promotion of stevia by government all across the globe is expected to further impel the growth of food and beverage stevia market till 2029.
Food & beverage stevia market has been estimated to be valued at US$ 204.4 Mn by the end of 2021 and is expected to attain revenue of US$ 393.9 Mn by 2029, expanding at a CAGR of 8.1% during the forecast period 2021-2029.
Purpose of the Report
The purpose of this strategic research study titled “Global Food & Beverage Stevia Market - Growth, Future Prospects, Competitive Analysis and Forecast, 2021 – 2029” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the opportunities in the global food & beverage stevia market.
Target Audience
USP and Key Offerings
The report titled “Global Food & Beverage Stevia Market - Growth, Future Prospects, Competitive Analysis and Forecast, 2021 – 2029” offers strategic insights into the global food & beverage stevia market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on extract type and cross-sectional study across different geographies. In order to help strategic decision-makers, the report also includes competitive profiling of the leading food & beverage stevia vendors, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:
Overall, the research study provides a holistic view of the global food & beverage stevia market, of growth, offering market size and estimates for the period from 2019 to 2029, keeping in mind the above mentioned factors.
Rising consumer demand towards low calorie foods as well as prevalence of cardiovascular diseases, obesity and diabetes is likely to strengthen the growth of food & beverage stevia market growth during the forecast period. Besides this, the innovation and new product development, enhanced taste and versatility along with significant levels of marketing assistance is anticipated to prosper the growth of food and beverage stevia market growth till 2029. By extract type, the food and beverage stevia market growth is segmented by liquid extract, leaf extract and powder extract. In 2021, powder extract segment is estimated to contribute highest share in the total revenue of global food and beverage stevia market. Increasing demand for low-calorie drinks and beverages such as flavored water, juices, energy drinks and sports drinks is anticipated to drive companies to manufacture stevia products, thus intensifying the growth of the market as well as increasing the tough competition in the market with manufacturers competing on the parameters of price, product differentiation, distribution, quality and promotion.
It has been noticed that consumers are becoming more apprehensive towards their health. This has fostered the companies to look upon the development of low calorie sugar based products to other alternatives to sugar. Thus, rising inclination towards naturally manufactured products and changing mindset of consumer towards consumption of low calorie products is expected to propel the growth of food and beverage stevia market till 2029. The global food and beverage stevia market is segment on the basis of geography. Asia Pacific contributed the highest revenue share in total food and beverage stevia market with a contribution which is estimated to be more than 40% by end of 2021. Followed by it, North America stood at second position in the same year. Higher health consciousness and awareness along with high spending population in these developed regions is anticipated to contribute for double digit growth rate of these regions during the forecast period. Rising government interest in order to promote stevia and rising trend of people towards spending on stevia products is anticipated to intensify the growth of food and beverage stevia market in Asia Pacific region till 2029.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Food & Beverage Stevia market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Extract Type
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
