Global Stevia Rebaudiana Market Forecasts to 2030
Overview of Global Stevia Rebaudiana Market:
According to Stratistics MRC, the Global Stevia Rebaudiana Market is accounted for $0.9 billion in 2023 and is expected to reach $2.0 billion by 2030 growing at a CAGR of 11.5% during the forecast period. Stevia Rebaudiana, a plant native to South America, is renowned for its intensely sweet leaves, which contain natural compounds called steviol glycosides. These compounds, including stevioside and rebaudioside, impart sweetness up to 200-300 times that of sugar, without the accompanying calories or effect on blood sugar levels. Widely used as a natural sweetener, stevia offers a low-calorie alternative for individuals seeking to reduce sugar intake, aiding in weight management and blood sugar control. Stevia's popularity continues to rise as a natural, sustainable sugar substitute.
This report analyzes the Stevia Rebaudiana Market from 2022 to 2030. It uses a combination of detailed sales and revenue data with insights from industry experts. The report goes beyond just market size and growth rate. It also dives into different market segments, such as region, form, distribution channel, application, end user etc. This provides a comprehensive picture of how the market breaks down across various categories.
As COVID-19 has reshaped the world economy, our team has been keeping a careful eye on its effects on the market. Beyond the pandemic, we take into account other important variables such as the general state of the economy, local conflicts, and news and regulations unique to the industry. This guarantees a comprehensive perspective on the market.
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Market Dynamics:
Driver:
Rising demand for natural sweeteners
The growing consumer preference for natural sweeteners has led to a surge in demand for Stevia Rebaudiana. This has prompted agricultural producers to expand cultivation areas and increase production to meet the rising market demand. Moreover, due to its popularity as a natural alternative to artificial sweeteners and sugar is expected to continue as more consumers seek healthier options and governments implement regulations to reduce sugar consumption.
Restraint:
High production costs and difficulty in application
Stevia Rebaudiana extracts can be more expensive than traditional sugar or artificial sweeteners. Price fluctuations due to factors like variations in weather conditions, crop diseases, or changes in demand and supply can make it difficult for manufacturers to predict and manage costs. Higher prices may deter some consumers or manufacturers from adopting Stevia Rebaudiana as a sweetening agent. Furthermore, availability issues, such as crop failures or supply chain disruptions, can lead to shortages of Stevia Rebaudiana extracts. This can result in limited accessibility to Stevia-based products for consumers, reducing market penetration and hindering the growth of the market.
Opportunity:
Prevalence of chronic diseases like obesity and diabetes
As awareness of the health risks associated with obesity and diabetes grows, consumers are seeking healthier alternatives to sugar and artificial sweeteners. Stevia Rebaudiana, with its zero-calorie, natural sweetening properties, has emerged as a popular choice among individuals looking to manage their weight and blood sugar levels. Additionally, food and beverage companies are innovating new products sweetened with Stevia Rebaudiana to cater to the growing demand from health-conscious consumers. This includes the development of low-sugar and sugar-free alternatives to traditional high-calorie and sugary products, contributing to market expansion and differentiation.
Threat:
Stevia deter widespread acceptance
Some individuals find that Stevia leaves a bitter or licorice-like aftertaste, especially when used in higher concentrations or in certain food and beverage applications. This taste perception issue poses a challenge for food and beverage manufacturers seeking to incorporate Stevia into their products, as they must carefully balance sweetness and flavor to mitigate the aftertaste while still providing a satisfactory taste experience. Failure to address this negative effect adequately can limit consumer acceptance and hinder the widespread adoption of Stevia Rebaudiana-based products.
Covid-19 Impact
While demand for healthier food options surged, disruptions in the global supply chain and distribution channels affected the availability of Stevia-based products. Fluctuations in consumer spending and prioritization of essential goods also influenced market dynamics. Additionally, the economic downturn led some consumers to prioritize cost-effective choices over premium products like Stevia Rebaudiana. However, increased health consciousness and regulatory support for natural sweeteners contributed to the market's resilience, driving innovation and long-term growth prospects despite short-term challenges.
The extracts segment is expected to be the largest during the forecast period
The extracts segment is estimated to have a lucrative growth, as extracts enable the creation of a wide range of Stevia-sweetened products, including beverages, dairy items, baked goods, confectionery, and condiments. This diversity caters to different consumer preferences and expands the market's reach across various food and beverage categories and allows for tailored formulations to meet specific consumer preferences, such as adjusting sweetness intensity or minimizing any perceived aftertaste propelling the growth of the market.
The dietary supplements segment is expected to have the highest CAGR during the forecast period
The dietary supplements segment is anticipated to witness the highest CAGR growth during the forecast period, the inclusion of Stevia Rebaudiana in dietary supplements expands the range of applications for this natural sweetener beyond traditional food and beverage products and these supplements come in various forms such as capsules, tablets, powders, and liquid extracts, offering flexibility in consumption and enhancing accessibility for consumers. This diversification attracts consumers looking for alternative ways to incorporate Stevia into their diets, contributing to market growth.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the growing concerns about health and wellness are prompting consumers in the Asia Pacific region to seek healthier alternatives to sugar and artificial sweeteners. Stevia Rebaudiana, with its natural origin and zero-calorie profile, is gaining popularity as a preferred sweetening agent in various food and beverage products. Many countries in the Asia Pacific region are witnessing regulatory approvals for the use of Stevia Rebaudiana in food and beverage products which encourages the growth of the market.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to food and beverage companies in North America which are increasingly incorporating Stevia Rebaudiana into their product offerings, including beverages, dairy products, snacks, and condiments. The availability of a diverse range of Stevia-sweetened options and Stevia Rebaudiana-based products are becoming more readily available in retail outlets across North America is expanding consumer choices and driving market growth.
Key Developments:
In February 2024, Cargill and ENOUGH expand partnership to provide consumers with innovative, sustainable protein options. Cargill is investing in ENOUGH’s most recent (Series C) growth funding campaign and has signed a commercial agreement to use and market its fermented protein.
In January 2024, ADM to Expand Traceable Soybean Pilot after First Deliveries to Europe, Successful pilot has resulted in 2.4 million bushels (64,000 metric tons) of verified, fully traceable U.S. soybeans shipped from U.S. to Europe
In December 2023, ADM Adds New Capabilities to Its Industry-Leading Flavor Business with Agreement to Acquire Revela Foods. driven by its innovative enzyme technology, which powers a broad range of clean-label dairy flavor formulations for multiple applications, from snacks and frozen meals to sauces, dressings, soups, seasonings and desserts.
Leading Industry Players in the Stevia Rebaudiana Market worldwide:
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Global Stevia Rebaudiana Market Segmentation
The Stevia Rebaudiana Market segmentation encompasses various dimensions, including form, distribution channel, application, end user, region, and competitors. By form, such as powder, liquid, or leaf, affects usability and consumer preference. The market is segmented by distribution channel, including online stores, supermarkets, and specialty health shops, determine product accessibility and market reach. By application, drives demand, as each sector leverages stevia's natural sweetness and health benefits. In terms of end user, ranging from individual consumers seeking natural sweeteners to industries needing bulk ingredients, shape market dynamics. Geographically, the market is segmented into major regions such as North America, Europe, Asia Pacific, South America, the Middle East and Africa, each exhibiting different market dynamics and growth opportunities. Competitor analysis reveals the competitive landscape, with major players developing new products, strategic partnerships, mergers and acquisitions, and competing for market share. Additional segmentation factors provide a comprehensive understanding of the Stevia Rebaudiana Market's structure and potential.
Geographic Regions Covered:
North America: United States, Canada, and Mexico.
Europe: Germany, United Kingdom, Italy, France, Spain, and rest of Europe.
Asia Pacific: Japan, China, India, Australia, New Zealand, South Korea, and rest of the Asia Pacific region.
South America: Argentina, Brazil, Chile, and rest of South America.
Middle East & Africa: Saudi Arabia, United Arab Emirates, Qatar, South Africa, and rest of the Middle East & Africa.
Key Questions Answered in This Report:
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Table of Contents (TOC) for the Global Stevia Rebaudiana Market Research Report (2024-2030)
1 Executive Summary ? ??? ? ??
2 Preface ? ???
2.1 Abstract ? ??
2.2 Stake Holders ? ??
2.3 Research Scope ? ??
2.4 Research Methodology ? ??
2.4.1 Data Mining ???
2.4.2 Data Analysis ???
2.4.3 Data Validation ???
2.4.4 Research Approach ???
2.5 Research Sources ? ??
2.5.1 Primary Research Sources ???
2.5.2 Secondary Research Sources ???
2.5.3 Assumptions ??? ? ??
3 Market Trend Analysis?????
?3.1 Introduction?????
?3.2 Drivers??????
?3.3 Restraints?????
?3.4 Opportunities?????
?3.5 Threats??????
?3.6 Application Analysis????
?3.7 End User Analysis?????
?3.8 Emerging Markets?????
?3.9 Impact of Covid-19?????
4 Porters Five Force Analysis?????
?4.1 Bargaining power of suppliers????
?4.2 Bargaining power of buyers????
?4.3 Threat of substitutes????
?4.4 Threat of new entrants????
?4.5 Competitive rivalry?????
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5 Global Stevia Rebaudiana Market, By Form???
?5.1 Introduction?????
?5.2 Leaves??????
?5.3 Extracts??????
?5.4 Liquid??????
?5.5 Powder??????
?5.6 Stevioside?????
?5.7 Other Forms?????
6 Global Stevia Rebaudiana Market, By Distribution Channel??
?6.1 Introduction?????
?6.2 Retail Stores?????
? 6.2.1 Specialty Stores????
??6.2.2 Supermarkets/Hypermarkets???
? 6.2.3 Convenience Stores????
?6.3 Online Retail?????
?6.4 Business to Business (B2B)????
?6.5 Other Distribution Channels????
7 Global Stevia Rebaudiana Market, By Application???
?7.1 Introduction?????
?7.2 Convenience Foods?????
?7.3 Dairy Food Products?????
?7.4 Dietary Supplements????
?7.5 Personal Care Products????
?7.6 Animal Feed?????
?7.7 Bakery & Confectionery????
?7.8 Table Top Sweeteners????
?7.9 Other Applications?????
8 Global Stevia Rebaudiana Market, By End User???
?8.1 Introduction
?8.2 Pharmaceuticals?????
?8.3 Medicinal Formulations????
?8.4 Cosmetics Industry?????
?8.5 Other End Users
Continued…
List of Tables ? ? ?
1 Global Stevia Rebaudiana Market Outlook, By Region (2021-2030) ($MN)?
2 Global Stevia Rebaudiana Market Outlook, By Form (2021-2030) ($MN)?
3 Global Stevia Rebaudiana Market Outlook, By Leaves (2021-2030) ($MN)?
4 Global Stevia Rebaudiana Market Outlook, By Extracts (2021-2030) ($MN)
5 Global Stevia Rebaudiana Market Outlook, By Liquid (2021-2030) ($MN)?
6 Global Stevia Rebaudiana Market Outlook, By Powder (2021-2030) ($MN)
7 Global Stevia Rebaudiana Market Outlook, By Stevioside (2021-2030) ($MN)
8 Global Stevia Rebaudiana Market Outlook, By Other Forms (2021-2030) ($MN)
9 Global Stevia Rebaudiana Market Outlook, By Distribution Channel (2021-2030) ($MN)
10 Global Stevia Rebaudiana Market Outlook, By Retail Stores (2021-2030) ($MN)
11 Global Stevia Rebaudiana Market Outlook, By Specialty Stores (2021-2030) ($MN)
12 Global Stevia Rebaudiana Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
13 Global Stevia Rebaudiana Market Outlook, By Convenience Stores (2021-2030) ($MN)
14 Global Stevia Rebaudiana Market Outlook, By Online Retail (2021-2030) ($MN)
15 Global Stevia Rebaudiana Market Outlook, By Business to Business (B2B) (2021-2030) ($MN)
16 Global Stevia Rebaudiana Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
17 Global Stevia Rebaudiana Market Outlook, By Application (2021-2030) ($MN)
18 Global Stevia Rebaudiana Market Outlook, By Convenience Foods (2021-2030) ($MN)
19 Global Stevia Rebaudiana Market Outlook, By Dairy Food Products (2021-2030) ($MN)
20 Global Stevia Rebaudiana Market Outlook, By Dietary Supplements (2021-2030) ($MN)
21 Global Stevia Rebaudiana Market Outlook, By Personal Care Products (2021-2030) ($MN)
22 Global Stevia Rebaudiana Market Outlook, By Animal Feed (2021-2030) ($MN)
23 Global Stevia Rebaudiana Market Outlook, By Bakery & Confectionery (2021-2030) ($MN)
24 Global Stevia Rebaudiana Market Outlook, By Table Top Sweeteners (2021-2030) ($MN)
25 Global Stevia Rebaudiana Market Outlook, By Other Applications (2021-2030) ($MN)
26 Global Stevia Rebaudiana Market Outlook, By End User (2021-2030) ($MN)
27 Global Stevia Rebaudiana Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
28 Global Stevia Rebaudiana Market Outlook, By Medicinal Formulations (2021-2030) ($MN)
29 Global Stevia Rebaudiana Market Outlook, By Cosmetics Industry (2021-2030) ($MN)
30 Global Stevia Rebaudiana Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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