The global stevia market is expected to reach USD 556.7
million by 2024, according to a new report by Grand View Research, Inc. Stevia
is used in beverages, food, pharmaceuticals and tabletop sweeteners on account
of its superior properties such as higher levels of sweetness without affecting
blood pressure. This factor is projected to have a positive impact on the
overall sugar sweetener market over the forecast period.
Increasing penetration of stevia in
the beverage segment, especially in carbonated drinks, will be a crucial factor
determining the growth of the industry over the forecast period. Major health
concerns related to sugar consumption and the rising prices of sugar has also
influenced consumers to look into various alternatives which have helped in
promoting demand for the sweetener over the past few years.
Browse full research report on Stevia
Market: http://www.grandviewresearch.com/industry-analysis/stevia-market
Further key findings from the
report suggest:
- The
food sector is expected to remain a potential segment for growth owing to
increasing application of stevia as a sweetening agent in chocolates,
baked foods, biscuits, soft drinks, candies, soda and jams. It is expected
to be the second largest segment in the global market accounting for 25.5%
in terms of volume in 2015.
- The
beverage segment is projected to witness the fastest volume growth at a
CAGR of 5.8% from 2016 to 2024. Several soft drink manufacturers are
introducing products containing stevia, for health conscious consumers and
diabetic patients. Rising consumer awareness regarding the benefits of
stevia on account of strategic marketing by manufacturers is expected to
drive the growth of the market over the forecast period.
- Stevia
is increasingly being used in herbal medicines and tonics for patients
suffering from diabetes. The antibacterial and anti-fungal properties of
stevia leaves is yet to realize its full potential and will remain a major
factor in influencing growth over the next eight years.
- Asia
Pacific is expected to foresee a volume growth at a CAGR of 5.7% from 2016
to 2024. This increase is attributed towards the growing demand from the
food & beverage industry in the emerging markets including China and
India. Furthermore, South Korea and Japan have a higher adoption rate of
stevia-based compounds and have made a positive impact on the overall
industry.
- Major
stevia manufacturers include PureCircle Ltd, GLG Life Tech Corp, Stevia
Corporation, Stevia First Corporation and Evolva Holding S.A. Some other
key players include Cargill Inc, Ingredion Inc., and Tate & Lyle Plc.
In July 2016, PureCircle Ltd. invested USD 100 million in developing the
stevia agronomy program.
Grand View Research has segmented
the global stevia market by application, and region:
Application Outlook (Volume,
Tons; Revenue, USD Million, 2013 - 2024)
- Beverage
- Food
- Pharmaceuticals
- Tabletop
sweeteners
- Others
Regional Outlook (Volume, Tons;
Revenue, USD Million, 2013 - 2024)
- North
America
- U.S.
- Europe
- Germany
- Asia
Pacific
- China
- Japan
- South
Korea
- Latin
America
- Brazil
- Middle
East & Africa (MEA)
Access press release of this
research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-stevia-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information: www.grandviewresearch.com
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