Favorable Regulatory Outlook Along With Growing Consumer Demand For Natural Sugar Substitutes To Proliferate Global Stevia Market To Reach Higher Level By 2027 | UnivDatos Market Overview

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NOIDA, India, October 12, 2022 /PRNewswire/ — According to a new report published by UnivDatos Markets Insights, the Stevia market was valued at more than $650 million in 2020 and is expected to grow at a CAGR of around 8% from 2022 to 2028. The analysis was segmented into filtration type (whole sheet, powder, liquid, others); Application (food, beverages, dairy and frozen desserts, bakery and confectionery, and table-top sweeteners); Region/Country.

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https://univdatos.com/report/stevia-market/

The Stevia market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report uses multiple analyzes to gain a more accurate view of the Stevia market. The Stevia market report offers a detailed analysis of the latest industry developments and market trending factors that are influencing market growth. Additionally, this statistical market research repository examines and estimates the Stevia market globally and regionally.

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Market overview

Global sugar consumption stood at 172.6 in 2018/2019 and is expected to rise to around 171.8 million metric tons by 2020/2021. With increased global trade, better agricultural technology, among other reasons, sugar is cheaper and more widely available than ever. In 2018/2019, approximately 188.25 million metric tons of sugar were produced globally, compared to 164.7 million metric tons of sugar in 2015/2016. India consumes the most sugar of any country, followed by the European Union and China. Over the ten years between 2016 and 2026, the world price of sugar is expected to fall by US$0.17 per pound to US$0.14 per pound. While this means sugar may be even more readily available and affordable in the future, it could lead to other global health issues associated with excessive sugar consumption. Due to these facts, there is an increase in the number. of people inclined to adopt a healthy lifestyle, which is further driving the growth of the global stevia market.

Impact of COVID-19

The recent covid-19 pandemic has turned the world upside down and caused a state of shock in the global economy. All industries have suffered some form of loss due to the pandemic and the stevia industry has not been spared from this unprecedented modern day crisis. This industry has its share of challenges due to the COVID-19 pandemic, as lockdown restrictions have resulted in the widespread closure of many production and manufacturing functions. Additionally, there has been a decline in trade and transportation that has disrupted stevia supply chains due to which its market has experienced shortages. However, the number of people adopting a healthy lifestyle has increased, which has led to an increase in demand for natural sweeteners such as stevia among consumers.

Click here to view the report description and table of contents

https://univdatos.com/report/stevia-market/

The global Stevia market report is studied extensively with several aspects which would help the stakeholders to make their decisions more carefully.

  • Based on type, the market is segmented into whole leaf, powder, liquid, and others. The powder segment has dominated the stevia market and is expected to grow at a considerable CAGR over the next few years, as it is one of the most popular and widely available types of stevia in the market in the whole world. Additionally, the highly purified form of stevia powder and its enhanced sweetness potency is gaining popularity among consumers as it can be widely used for various applications such as making beverages, baked food products, desserts, sauces and many others.

  • Based on application, the market is fragmented into Foods, Beverages, Dairy & Frozen Desserts, Bakery & Confectionery, and Tabletop Sweeteners. The beverage segment accounted for the highest revenue share in 2020 and is expected to grow with a substantial CAGR over the forecast period as there is an increasing use of stevia while formulating different types of beverages. Additionally, increased interest from many industry players to incorporate stevia as an ingredient has led to an increase in the number of stevia drink launches. For example, in 2018, Coca-Cola launched a new Coke product sweetened entirely from stevia (Stevia rebaudiana).

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Geographical segmentation of the stevia market includes:

  • North America (United States, Canadaand Rest of North America)

  • Europe (Germany, UK, Spain, Italy, Franceand the rest of Europe)

  • Asia Pacific (China, Japan, India, Australiaand the rest of Asia Pacific)

  • Rest of the world

Geographically, the Asia Pacific The region has dominated the stevia market due to lifestyle changes and the prevalence of lifestyle-related diseases such as cardiovascular disease, obesity and diabetes. The demand for stevia has increased across the world due to the growing consumer inclination towards natural sweeteners and increased consumer awareness of the health benefits. Due to this, the sales volume of stevia has increased globally as many players in the food and beverage industry are focusing on launching products containing stevia. Thus boosting the growth of the stevia market. For example, according to a statement from PureCircle, newly introduced foods and beverages using the sweetener stevia grew by 31% in 2018, compared to a growth rate of 11% in 2017..

Key players targeting the market include

Competitive landscape

The degree of competition between major global companies has been worked out by analyzing several key players operating across the globe. The specialized team of research analysts sheds light on various traits such as global market competition, market share, latest industry advancements, innovative product launches, partnerships, mergers or acquisitions by leading companies in the Stevia market. Major players have been analyzed using research methodologies to get an overview of the global competition.

Key questions answered through this analytical market research report include:

  • What are the latest trends, new patterns, and technological advancements in the Stevia market?

  • What factors are influencing the Stevia market during the forecast period?

  • What are the global challenges, threats and risks in the Stevia market?

  • What factors are driving and restraining the Stevia market?

  • Which are the demanding global regions of Stevia Market?

  • What will be the size of the global market in the coming years?

  • What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirements of different companies, regions and countries, we offer customized reports based on your business nature and geography requirements. Please let us know if you have any custom requirements.

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Stevia market Report cover

Report attributee

Details

Year of reference

2020

Forecast period

2021-2027

Growth dynamics

Accelerate at a CAGR of over 8%

Market size 2020

$650 metersmillion

Regional analysis

North America, Europe, APAC, Rest of the World

Major contributing region

APAC to dominate the Global Stevia Market

Main countries covered

United States, Canada, Germany, United Kingdom, Spain, Italy, France, China, Japan, India and Australia

Profiled companies

Ingredion Incorporated, Cargill, Tate & Lyle Plc, Archer Daniels Midland Company, Sunwin Stevia International Inc., S&W Seed Company, Stevia Corp, PureCircle Limited, Evolva Holdings SA, GLG Life Tech Corp.

Report scope

Market trends, drivers and restraints; Revenue estimation and forecasting; segmentation analysis; impact of COVID-19; Analysis of supply and demand; VScompetitive landscape; Company profiling

Segments Covered

By type of filtration; By Request; By region/country

About UnivDatos Market Insights (UMI)

UnivDatos Market Insights (UMI) is a passionate market research company and a subsidiary of Universal Data Solutions. We believe in providing information through market intelligence reports, custom business research and primary research. Our research studies are spread across topics across the globe, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis and custom reports that help shape winning business strategies for our clients.

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