Stevia is a non-caloric plant-based sweetener. It is made from a plant called stevia rebaudiana, which is grown for its sweet leaves. Stevia is also commonly known as sugar leaf or sweet leaf. The Asia- Pacific stevia market is expected to grow at a CAGR of 8.3 % during the period 2018-2023. Manufacturers are increasingly exploring alternative sweeteners that will enable a reduction in calorific content, without sacrificing taste. Increasing awareness of the health benefits of low-calorie consumable products is a major catalyst.
Many private label companies have ventured into the stevia market in Asia- Pacific (excluding Japan) to harness the opportunities that exist here. The ingredient has a broad acceptance in this region, especially in Japan, China, and South Korea, as stevia-based natural sweetenershave been a part of the diet of consumers in these countries for a substantial period. Consumers in this region are also becoming more aware about stevia as a sugar substitute, creating additional growth opportunities in this region. The shifting lifestyle patterns in Asia-Pacific and increasing sedentary lifestyle observed has increased the use of stevia. China and India have the largest number of diabetic patients. With a growing number of diabetics and calorie-watching consumers, the demand for sugar alternatives has exhibited an unprecedented rise. A major threat is the availability of the other low-calorie sweeteners. The food & beverage industry, along with healthcare and personal care industries, create opportunities for a prospering market for stevia.
The Asia-Pacific stevia market is segmented by type into powder, liquid, and leaf. Stevia is widely used in the powdered form, hence this segment is the biggest and the fastest growing in the stevia market. The market is segmented by application into food, beverages, and pharmaceuticals. Stevia is widely used in a variety of food products such as foods, confectionery, desserts, baked foods, snack foods, and jellies, as it can be easily incorporated and imparts sweetness to the product with very low calories.
Asia-Pacific (excluding Japan) holds enormous opportunities for companies in the stevia market. Asia-Pacific has more than 25% share of the global stevia market. China produces millions of tons of stevia every year and has emerged as the leading stevia exporter globally. The region is the largest consumer market for stevia. In Asia-Pacific, Japan and China are the largest consumers. Emerging economies such as India, Thailand, Indonesia, and Malaysia are expected to be the key markets for the product owing to the growing food & beverage industry.
- February 2018 - GLG Life Tech Corp. launched its Reb M sweetener product line in collaboration with Archer Daniels Midland Co., a global sales and marketing partner. The sweeteners are made from GLG Life Tech proprietary high Reb M Dream Sweetener stevia leaf, which has high quantities of Reb M steviol glycosides that have a sugar-like taste.
- March 2017 - Archer Daniels Midland Company (ADM) launched two new sweetener brands, SweetRight stevia and VerySweet monk fruit.
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- Analyzing outlook of the market with the recent trends and Porters five forces analysis
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- Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definitions
2. Research Approach and Methodology
2.2 Research Design
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering & Econometric Modelling
2.4.4 Expert Validation
3. Market Overview
3.1 Market Trend
4. Market Dynamics
4.1.1 Increased Awareness of the Health Benefits of Low-calorie Consumable Products
4.1.2 Rising Demand for Plant-based Sweeteners and Natural Ingredients
4.2.1 Stringent Regulatory Environment
4.2.2 Availability of Other Low-calorie Sweeteners
4.3.1 Stevia Incorporation in Food Beverage and Healthcare Products
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. Market Segmentation
5.1 By Type
5.2 By Application
5.2.2 Dairy Food Products
5.2.5 Dietary Supplement
5.3 By Geography
220.127.116.11 Rest of APAC
6. Competitive Landscape
6.1 Strategy Adopted by Key players
6.2 Most Active Companies in the Past Five Years
6.3 Market Share Analysis
7.1 Beijing Stevia Trade Co., Ltd.
7.2 Boli Lijian Stevia Biological Technological Co.
7.3 Dainippon Ink and Chemicals, Inc.
7.4 Ganzhou Julong High-tech Industrial Co., Ltd.
7.5 GLG Life Tech
7.6 Ikedatohka Industries Co., Ltd.
7.7 Morita Kagaku Kogyo Co., Ltd.
7.8 Naturally Sweet
7.10 Nutra Food Ingredients, LLC
7.12 Qingdao Dacon Trading Co. Ltd.
7.14 Stevia Biotech Pvt. Ltd.
7.16 TAMA Biochemical Co., Ltd.
7.17 Zhucheng HaoTian Pharm Co. Ltd.
- Beijing Stevia Trade Co. Ltd.
- Boli Lijian Stevia Biological Technological Co.
- Dainippon Ink and Chemicals Inc.
- Ganzhou Julong High-tech Industrial Co. Ltd.
- GLG Life Tech
- Ikedatohka Industries Co. Ltd.
- Morita Kagaku Kogyo Co. Ltd.
- Naturally Sweet
- Nutra Food Ingredients LLC.
- Qingdao Dacon Trading Co. Ltd.
- Stevia Biotech Pvt. Ltd.
- TAMA Biochemical Co. Ltd.
- Zhucheng HaoTian Pharm Co. Ltd.