According to the latest report by IMARC Group, titled “Stevia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” offers a comprehensive analysis of the stevia market outlook. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global stevia market size reached US$ 763.0 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,438.3 Million by 2032, exhibiting a growth rate (CAGR) of 7.1% during 2024-2032.
Stevia Market Trends:
The increasing consumer preference for natural sweeteners over synthetic options is driving the global market. Health consciousness among consumers, particularly concerning sugar intake and associated health risks, also propels the demand for stevia. Additionally, the rise in diabetes and obesity rates has led to a greater adoption of low-calorie and sugar-free products, in which stevia is a key ingredient.
Moreover, the extensive use of stevia in various food and beverage applications, including baked goods, soft drinks, and confectioneries, supports its market expansion. Furthermore, regulatory approvals and endorsements from health organizations have enhanced consumer trust and acceptance of stevia. The growing trend of clean-label products further propels its market presence. Besides, advancements in stevia extraction and formulation technologies improve product quality and taste, making it a more attractive option for manufacturers and consumers alike.
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Global Stevia Market Scope & Growth Analysis:
The scope of the market is expanding due to the wide utilization of stevia in various industries including food and beverages, pharmaceuticals, nutraceuticals, and personal care products. The increasing trend of incorporating stevia into dietary supplements and health drinks offers new avenues for market growth. Additionally, the rising consumer awareness of natural ingredients in cosmetic and skin care products is a factor broadening the market scope for stevia. Technological advancements in agriculture and biotechnology facilitate higher yield and better-quality stevia crops, further supporting market expansion.
The growing trend of health and wellness tourism also presents opportunities for stevia products, as they are often featured in health-conscious dining options. Moreover, strategic partnerships and collaborations among key market players to develop innovative stevia formulations and products contribute to market growth. Furthermore, the increasing availability of stevia in various retail formats, including online platforms, enhances its accessibility to a wider consumer base. Government initiatives promoting the use of natural sweeteners as part of public health campaigns also play a pivotal role in expanding the stevia market's scope.
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Competitive Landscape with Key Players:
Archer-Daniels-Midland Company
Cargill Incorporated
GLG Life Tech Corporation
Guilin Layn Natural Ingredients Corp.
Hunan NutraMax Inc.
Ingredion Incorporated
Morita Kagaku Kogyo Co. Ltd.
Pyure Brands LLC
Sunwin Stevia International Inc
Tate & Lyle PLC
The Real Stevia Company AB
Wisdom Natural Brands
Zhucheng Haotian Pharm Co. Ltd.
Key Market Segmentation:
Breakup by Extract Type:
Powder
Liquid
Leaf
Breakup by End Use:
Beverages
Food Products
Table Top Sweeteners
Pharmaceuticals
Others
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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