Conventionally, stevia has been cultivated for more than a few centuries, but it has been recognized as a safe substitute for sugar in the recent past. Stevia contains very few or no calories and is sweet enough, making it an appropriate ingredient in the manufacture of food and beverages. So, makes it a viable substitute for sugar. The popularity of food products containing stevia is very recent. In the 1970s, Japan began to cultivate stevia for commercial purposes. Morita Kagaku Kogyo Co., Ltd. became the first company to market and sell stevia.
Global Stevia Market Size:
According to our report, the Global Stevia Market is growing at a CAGR of 9.5% from 2017 to 2022 to reach USD 771.5 Million by 2022.
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Global Stevia Market – Drivers and Restraints:
In recent years, the global stevia market has been accelerated by the growing awareness of the health benefits of low-calorie consumables. In addition, encouraging government initiatives and increasing consumer awareness is a positive signal for the growth of the global stevia market. By winning the label of a healthy consumer product, stevia is viewed favorably by consumers. The introduction of several stevia products positively supports the entire market and has been highly appreciated by consumers. A health organization advocates the use of low-calorie sugar substitutes while calling for an increase in stevia production. In addition, the demand for products based on natural ingredients and antioxidants is an additional factor that can complement the growth of the market.
Global Stevia Market – Geographical Segmentation:
On the basis of geography, the market is segmented into North America, Europe, Latin America, the Middle East and Africa, and Asia Pacific regions. Asia-Pacific and North America will continue to dominate the global stevia market in the coming years. In addition, the North American market is expected to publish a solid CAGR of 9.8% during the forecast period, while the Asia Pacific region is also estimated to register significant growth in the market. Similarly, China is one step ahead of other countries in terms of global stevia production and export capacity. Low production costs and the availability of qualified resources are an important factor in the growth of the Asia Pacific market. In addition, Latin America is expected to experience solid growth until 2020.
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Companies dominating the Global Stevia Market are:
Tate & Lyle Plc., Stevia Corp., GLG Life Tech Corp, The Coca-Cola Company, PepsiCo Inc., Cargill Inc., Nestlé S.A., Evolva Holding S.A., and Ingredion, Inc. are the major players of the market.
Key Takeaways from this Report:
- For different product types, end-use applications and industry verticals, offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the market potential.
- Identify various driving factors, constraints and untold opportunities that can impact the global marketplace
- Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
- Increase overall revenue by understanding the geographical impact on sales and distribution channels.
- Evaluate the increase in values at each step of the industry supply chain to improve process efficacy and optimize the value.
- Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
- Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide market in over 20 top nations.
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