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Global Stevia Market is segmented by Product Form (Powder, Liquid, Leaf), Application (Bakery, Dairy Food Products, Beverages, Dietary Supplements, Confectionery, Others), and Geography
Fastest Growing Market:
The global stevia market is projected to witness a CAGR of 8.43% during the forecast period (2019-2024).
Stevia is available in the powdered, liquid, and leaf form, and is used for applications such as bakery, dairy food products, beverages, confectioneries, dietary supplements, and others. Manufacturers are increasingly exploring alternative sweeteners to reduce calorific content without sacrificing the taste of food.
|Dairy Food Products|
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Liquid Stevia is projected to be the fastest growing segment as consumers are preferring liquid form of stevia to sweeten recipes. A few drops of the liquid stevia extract replaces a teaspoon of cane sugar and is useful for sweetening coffee, teas and smoothies. Liquid stevia is available in several forms such as syrups, resulting from boiling the leaves in water. The syrup is used to enhance the flavour of many foods. Commercial scale applications prefer liquid stevia as they are concentrated and very less quantity is required. Furthermore, the demand for alcohol-free liquid is growing at a greater pace in the segment.
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Consumers have started to show interest in knowing the ingredients present in their foods, thus demanding “better for me” products. Most food manufacturers are responding to this new trend among consumers by developing products with lower sugar and lower calorie content, which are natural such as stevia. The United States has the highest consumption of stevia as a sweetener among all the countries in the North America region. Stevia extracts were only approved for use in the European Union in November 2011. Therefore, consumption of stevia is still very low. However, food & beverage manufacturers are rapidly developing products containing stevia. Asia-Pacific is the world's largest stevia consuming region, which has been achieved principally through rapid population growth.
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Cargill, Incorporated, PureCircle, Tate & Lyle, and Ingredion Incorporated are some of the companies leading the stevia market due to their new product launches. The companies are adopting strategies such as partnerships and new product launches in different forms such as leaves and liquid to increase their product line and share. In February 2018, GLG Life Tech Corporation, in collaboration with Archer Daniels Midland Company, launched Reb M product line to expand its product portfolio. The stevia product line facilitates sugar replacement with better-tasting, low-calorie natural sweetening systems and solutions that provide better taste and experience.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Form
5.2.2 Dairy Food Products
5.2.4 Dietary Supplements
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Cargill, Incorporated
6.3.3 Tate & Lyle
6.3.4 Ingredion Incorporated
6.3.5 Archer Daniels Midland Company
6.3.7 Stevia Corp.
6.3.8 GLG LIFE TECH CORP.
6.3.9 Sunwin Stevia International, Inc.
6.3.10 HYET Sweet
7. MARKET OPPORTUNITIES AND FUTURE TRENDS