Gmi Research's blog : Stevia Market Size| Share| Trends and Analysis
Stevia Market
The Stevia Market is anticipated to grow at a remarkable CAGR over the forecast period.
The factors driving the growth of Stevia Market includes rise in the cases of diabetes around the world, increasing awareness amongst consumers about the health benefits of stevia, growing demand for natural food products and rising preference for natural sweeteners over artificial sweeteners. According to the report published by international Diabetes Federation, as of 2019, 537 million adults are living with diabetes and this figure is estimated to reach 783 million by the end of 2045, which is using consumers across the globe to add increase the consumption of stevia. As per the stevia Market Trend, easy availability of stevia products at e-commerce platforms and retail outlets and growing popularity of flavored soft drinks, rise in the launches of innovative products, are some of the additional factors supplementing the market growth. In addition, the rising investments by leading players on research and development, increasing population growth rates, rapid urbanization and growing disposable incomes, are further accelerating the stevia Market size.
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However, the growth of Stevia Market is hindered due to variations in the prices of raw materials of stevia.
Based on extract type, the whole leaf segment emerged as the fastest growing segment during the forecast period
As per the Stevia Market Report, increasing demand for whole leaf stevia by food and beverage manufacturers is the major factor responsible for the segment’s growth.
Based on the application, the beverages segment held the highest market share in 2016
Increasing application of stevia by manufacturers in carbonated drinks and energy drinks, are propelling the segment’s growth.
Based on Region, the Asia-Pacific region is estimated to hold the highest market share over the forecast period
As per the Stevia Market Research, growing demand for low calorie products, rising prevalence of diabetes and obesity, increasing investments by major corporations on promotional marketing activities, rising per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.
Market Segmentation
Segmentation by Extract Type
- Whole leaf
- Powdered
- Liquid
Segmentation by Application
- Dairy
- Bakery & confectionery
- Tabletop sweeteners
- Beverages
- Convenience foods
- Others
Segmentation by Form
- Dry
- Liquid
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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