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.
U.S. stevia market volume, by application, 2013 - 2024 (Tons) |
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: https://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.
Browse more
reports of this category by Grand View Research: https://www.grandviewresearch.com/industry/nutraceuticals-functional-foods-and-dietary-supplements
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 By Grand View Research: https://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.
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