Stevia Market Research, 2026
The global stevia market was valued at $637.1 million in 2018, and is projected to reach $1,169.4 million by 2026, registering a CAGR of 8.0% from 2019 to 2026.
Stevia is a natural, zero calorie, non-cariogenic sweetener, which has a low glycemic Index (GI). It offers multiple potential benefits especially in managing diabetics & obesity, controlling blood pressure, and managing weight. Thus, it is used as a sugar substitute in many foods & beverages by consumers. Stevia is approximately 200 to 300 times sweeter as compared to the regular sugar. Thus, it is becoming one of the popular ingredients & food additives used in the foods and beverages industry. This is attributed to the fact that stevia possesses many beneficial properties such as it enhances flavor, prevents fermentation & discoloration, reduces stickiness in beverages, and has high heat resistance.
Alarming increase in the prevalence of diabetes and cardiovascular diseases and surge in obese population worldwide have fueled the demand for stevia-containing products, which are suitable for the consumption for obese and diabetic patients. Furthermore, expansion of distribution channels such as online stores, discount stores, supermarkets, and hypermarkets has made the stevia easily accessible to consumers, which, in turn, has driven the stevia market growth.
In the past few couple of years, an increase has been witnessed in the use of stevia powder across the food & beverages industries, pharmaceuticals industries, and other industries. This is attributed to the fact that the powder form of stevia is highly soluble in nature, sweetest over other forms, and has a prolonged shelf-life. Thus, stevia manufacturers are strategizing on extending the production of stevia in powder form. For instance, Van Wankum Ingredients, which is an ingredient provider for food & beverages, cosmetics, pharmaceutical, and health industries, is extensively providing stevia in powder form across various industries. Thus, this, in turn, has driven the growth of the stevia market. Moreover, stevia in powder form is widely available in a variety of convenient packages, including jars, sachets, and bottles. This is attributed to the fact that white powders can be sprinkled over food or can be added to drinks easily, making it convenient for consumers. Moreover, apart from enhancing taste, stevia improves the flavor & nutritional value of food & drink, thereby increasing its demand in the market. Furthermore, the increase in adoption of stevia as a tabletop sweetener across the food service industry has boosted the demand for stevia in powder form.
The global stevia market is segmented into form, end user, distribution channel, and region. Depending on form, the market is classified into liquid, powder, and others. By end user, it is divided into food & beverages industry, pharmaceutical industry, retail industry, and others. On the basis of distribution channel, it is segregated into direct channel and indirect channel. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Australia, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
By Form
The Liquid segment would exhibit the highest CAGR of 8.6% during 2019-2026.
By form, the powder segment accounted for the highest stevia market share in 2018. This is attributed to increase in use of stevia powder across the food & beverages industry and pharmaceuticals industry. In addition, the powder form of stevia is highly soluble in nature and has prolonged shelf life, thus making it more popular over the other forms of stevia available in the market.
By End User
The Retail segment would exhibit the highest CAGR of 9.5% during 2019-2026.
Depending on end user, the food & beverages was the leading segment in the global stevia market in 2018, as stevia is one of the popular ingredients & food additives used in the food & beverages industry. Furthermore, it is used to enhance flavor, prevent fermentation & discoloration, and reduce stickiness in beverages. Moreover, it acts as an antioxidant and has high heat tolerance, which fuel its demand in the food & beverages industry. In addition, it finds its major application as a natural stabilizer in a various dairy products, confectioneries, beverages, and other food products. Thus, all these factors augment the demand for stevia in the food & beverages industry.
By Distribution Channel
InDirect Channel segment would exhibit the highest CAGR of 9.1% during 2019-2026.
On the basis of distribution channel, in 2018, the direct channel led the global stevia market, due to rise in use of stevia in various industries, including food & beverages, pharmaceutical, animal feed, and cosmetic & personal care. This has increased the sale through the direct distribution channel, which offers stevia in bulk quantity on discounted rate.
By Region
Europe would exhibit the highest CAGR of 9.5% during 2019-2026.
Region wise, Asia-Pacific accounted for the highest market share in 2018. In Asian countries, such as Japan, where, stevia has been traditionally used as a key ingredients for years in food & beverages and dietary supplements sectors. Moreover, rise in health concerns among consumers related the artificial sweeteners in this region has encouraged manufacturers to use natural sweeteners in their products. This has propelled Asian sweetener makers, such as Morita Kagaku Kogyo, to use stevia in their product offerings. Moreover, food & beverage companies in Japan have adopted stevia as an additive, as it has zero calories, helps in lowering blood pressure, and manages diabetes, thereby providing effective solution to consumers for maintaining their health. All these factors together have led to higher demand for stevia in this region.
The key players operating in the global stevia market analysis focus on prominent strategies, such as new product launch, to overcome competition and to maintain as well as improve their share worldwide. Some of the major players in the global stevia industry analyzed in this report include Archer Daniels Midland Company, BENEO (SUDZUCKER Group), Cargill, Incorporated., Foodchem International Corporation, FRAKEN BIOCHEM CO. LTD, Haihang Industry Co., Ltd, Ingredion Incorporated, PureCircle, Tate & Lyle PLC., and Van Wankum Ingredients.
Key Benefits for Stakeholders:
- The stevia market report provides a quantitative analysis of the current stevia market trend, estimations, and dynamics of the global stevia market size from 2019 to 2026 to identify the prevailing opportunity.
- The key countries in all the major regions are mapped on the basis of market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- A comprehensive analysis of factors that drive and restrict the market growth is provided.
- In-depth market share analysis of the industry segment and size helps to determine the prevailing market opportunities.
- Industry player positioning segment facilitates benchmarking and provides a clear understanding of the present position of players along with the stevia market forecast.
Stevia Market Report Highlights
| Aspects | Details |
 By Form |
|
 By End User |
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 By Distribution Channel |
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 By Region |
|
 Key Market Players | FRAKEN BIOCHEM CO. LTD, Foodchem International Corporation, Van Wankum Ingredients, Ingredion Incorporated, TATE & LYLE PLC. (TATE & LYLE), Archer-Daniels-Midland Company (ADM), CARGILL INC., BENEO GmbH, PureCircle, Haihang Industry Co., Ltd |
Analyst Review
Key players operating in the global stevia market have adopted developmental strategies such as new product launch to strengthen their foothold in the market, in terms of value sales. They emphasize on continuous innovation in formulate product to gain a competitive edge in the global market and to boost the demand for stevia.
According to the key market players, changes in lifestyle and rise in consumer awareness regarding the negative health effects associated with artificial sweeteners are encouraging consumers to seek for natural sweeteners and products containing natural sweeteners without comprising on taste. Therefore, they are investing in R&D activities and making continuous effort in launching improved stevia that can be used as sweetener in food & beverages products, thus assisting food & beverages manufacturers to meet the rising global demand.
According to some of the key stevia companies, rise in trend of reduced sugar consumption among consumers is expected to fuel the demand for stevia across the food & beverages manufactures as well as in the retail industry. Thus, this factor is anticipated to offer lucrative opportunity for the growth of the stevia market. Moreover, stevia manufacturers are providing stevia in different flavors such as chocolate, vanilla, hazelnut, and lemon to enhance the flavor of food and drinks. Thus, stevia is gaining increasing popularity among consumers as well as food & beverages manufacturers.
However, increase in threat of the availability of substitutes for stevia faced by the manufacturers is expected to restrain the market growth.
The global stevia market was valued at $637.1 million in the year 2018.
The global stevia market is projected to reach $1,169.4 million by 2026, registering a CAGR of 8.0% from 2019 to 2026.
The global stevia market is projected to grow at a CAGR of 8.0% from 2019 to 2026.
The stevia market segments are categorized into form, end users, distribution channel and region.
The active players in the Stevia Market includes A DM Company, BENEO, Cargill, Inc., Foodchem International Corporation, FRAKEN BIOCHEM CO. LTD, Haihang Industry Co., Ltd, Ingredion Inc., PureCircle, Tate & Lyle PLC. and Van Wankum Ingredients.
The trend of adopting a healthy lifestyle has stimulated the adoption of free form product. This has also triggered a trend of reducing the consumption of sugar in diet among the consumers.
Europe is expected to provide more business opportunities for Stevia Market in coming years. The need for stevia supplies in Europe is growing strongly among the food & beverages manufacturers. This is due to the resourceful & versatile properties of stevia along with the rising consumer demands for products containing natural zero calorie sweetener like stevia.
The retail segment is expected to be the leading segment in the stevia market during the forecast period.
The indirect channel is expected to be the leading segment in the Stevia Market. This is attributable to the easy accessibility of products, heavy discounts and offers on products are through this channel.
The global stevia market size was valued at $637.1 million in the year 2018.
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