Stevia (Stevia Rebaudiana), being a plant-based sweetening product native to South America, is high in demand as a natural ingredient. It is protein-rich and has low or zero calorific value. These factors are collectively supporting the growth of the Stevia market in Africa. The Africa Stevia market is expected to grow at a CAGR of XX.XX % during the period 2017-2022. Manufacturers are increasingly exploring alternative sweeteners which will enable a reduction in calorific content, without sacrificing the taste. The increasing awareness of the health benefits of low-calorie consumable products is a major catalyst.
Stevia, the'natural, healthy' alternative to sugar, has been approved for use in South Africa with the recent promulgation (10 September 2012) of new sweetener regulations. Stevia has emerged as one of the most popular natural sweeteners among consumers looking for healthier alternatives. Obesity has reached epidemic proportions around the world, with the World Health Organization (WHO) estimating about 12.7% of African children to be overweight or obese by 2020, compared to 8.5% in 2010. In the African regions, concerns about health and nutrition are relatively in the nascent stage and diet products have less market penetration, due to which Stevia demand is increasing in this region. Alarming rates of obesity and its link with other lifestyle diseases has made consumers focus on their diet, which has boosted the consumption of Stevia. The major threat is the availability of other low-calorie sweeteners. Food & beverage, healthcare and personal care industries create opportunities for a prospering Stevia market.
The Stevia market is segmented by type into powder, liquid and leaf. It is widely used in the powdered form; hence, this segment is the biggest and the fastest-growing in the Stevia market. It is segmented by application into food, beverages and pharmaceuticals. Stevia is widely used in a variety of food products such confectionery, dairy, baked foods, beverages, and dietary supplements, as it can be easily incorporated and imparts sweetness to the products, with very low-calorie.
The Africa Stevia market has been geographically segmented into South Africa and others. Stevia is also seeing a major demand in the natural sweeteners category in Africa, which is an emerging market.
The market is highly fragmented because of the presence of numerous small and large vendors. Most of the companies engage in aggressive promotion of Stevia-based products to improve the product positioning and visibility.
Some of the major players in the market include:
Tate & Lyle
Key Deliverables in the Study
Market analysis for the Africa Stevia market, with region-specific assessments and competition analysis on a regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a regional scale.
Extensively researched competitive landscape section with profiles of major companies, along with their market share.
Identification and analysis of the macro and micro factors that affect the Africa Stevia market on a regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insight about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is growing and identify the regions that are still untapped.
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 Stevia usage approved in 2012
4.1.2 Increased Awareness on the Health Benefits of Low-calorie Consumable Products
4.2.1 Low Consumer Awareness
4.2.2 Availability of Other low Calorie Sweetners
4.3.1 Stevia Incorporation in food and Beverage industries
4.4 Porter's 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
5.3.1 South Africa
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
7.2 Tate & Lyle
7.3 Nature's Choice
7.4 Health Connection
7.8 Now Foods
7.9 Dukan Diets
7.10 Wisdom Natural