Stevia is a natural sweetener with low or no calorie, low glycemic index, and is non-cariogenic. It is approximately 200 to 300 times sweeterthan table sweeteners. It has wide application in different industries such as food & beverages, pharmaceutical, and cosmetics industry.Stevia is becoming one of the popular ingredients & food additives in the food & beverages industry, as it has many astounding properties such as it enhances flavor, prevents fermentation &discoloration, has high heat resistance, and reduces stickiness in beverages. Thus, it is used to manufacture products such as soft drinks, pickles, pastries, jam, chewing gum, candy, yogurt, and sorbets.
The growth of the stevia market is driven by increase in demand for stevia by diabetic and obese consumers globally. This is attributed to the fact that stevia has low or no calorie, low glycemic index, and is non cariogenic, which helping management of diabetes and weight.However, the availability of substitutes for stevia such as erythritol, thaumatin, and luo han guo (monk fruit) is expected to hamper the growth of the global market during the forecast period.On the contrary, an increase in demand for natural sweeteners over artificial sweeteners is anticipated to offer immense opportunities for market expansion during the forecast period.
The global stevia market is segmented into form, end user, distribution channel, and region. Depending on form, the market is classified into liquid, powder, and others. By end user, it is divided into food & beverages industry, pharmaceutical industry, retail industry, and others. On the basis of distribution channel, it is categorized into direct channel and indirect channel. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the stevia industry are Archer Daniels Midland Company, BENEO (SUDZUCKER Group), Cargill, Incorporated. Foodchem International Corporation, FRAKEN BIOCHEM CO. LTD, Haihang Industry Co., Ltd, Ingredion Incorporated, PureCircle, Tate & Lyle PLC., and Van Wankum Ingredients.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Form
By Distribution Channel
By Region
The growth of the stevia market is driven by increase in demand for stevia by diabetic and obese consumers globally. This is attributed to the fact that stevia has low or no calorie, low glycemic index, and is non cariogenic, which helping management of diabetes and weight.However, the availability of substitutes for stevia such as erythritol, thaumatin, and luo han guo (monk fruit) is expected to hamper the growth of the global market during the forecast period.On the contrary, an increase in demand for natural sweeteners over artificial sweeteners is anticipated to offer immense opportunities for market expansion during the forecast period.
The global stevia market is segmented into form, end user, distribution channel, and region. Depending on form, the market is classified into liquid, powder, and others. By end user, it is divided into food & beverages industry, pharmaceutical industry, retail industry, and others. On the basis of distribution channel, it is categorized into direct channel and indirect channel. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the stevia industry are Archer Daniels Midland Company, BENEO (SUDZUCKER Group), Cargill, Incorporated. Foodchem International Corporation, FRAKEN BIOCHEM CO. LTD, Haihang Industry Co., Ltd, Ingredion Incorporated, PureCircle, Tate & Lyle PLC., and Van Wankum Ingredients.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global stevia market from 2019 to 2026 to identify the prevailing market opportunities.
- The key countries in all the major regions are mapped on the basis of their market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
- The report includes the analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.
KEY MARKET SEGMENTS
By Form
- Liquid
- Powder
- Others
- By End User
- Food & Beverages
- Pharmaceuticals
- Retail
- Others
By Distribution Channel
- Direct Channel
- Indirect Channel
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Australia
- Japan
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: STEVIA MARKET, BY FORM
CHAPTER 5: STEVIA MARKET, BY END - USER
CHAPTER 6: STEVIA MARKET, BY DISTRIBUTON CHANNELS
CHAPTER 7: STEVIA MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
Executive Summary
According to the report titled 'Stevia Market by Form, End Users and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global stevia market was valued at $637.1 million in 2018, and is projected to reach $1,169.4 million by 2026, registering a CAGR of 8.0% from 2019 to 2026. Stevia is a non-nutritive natural sweetener, which has low or no calorie, low glycemic index, and is non-cariogenic. It has wide application in different industries such as food & beverages, pharmaceutical, and cosmetics. This is attributed to different properties offered by stevia. For instance, it acts as an antioxidant, stabilizer, flavor enhancer, prevents fermentation & discoloration, has high heat resistance, and. Furthermore, it is available in liquid, powder, and other forms in the market through different distribution channels that include direct channels online stores, and medical stores.The retail segment is anticipated to garner the highest market share during the forecast period, due to rise in consumer awareness about stevia as a natural zero calorie sweetener, which is non-cariogenic sweetener with low glycemic index. Furthermore, health benefits associated with stevia has made it popular in the household sector. Thus, the demand for stevia especially among the diabetic and obese consumers is expected to increase significantly, thereby driving the growth of the global market.
Moreover, rise in number of consumers adopting a healthy lifestyle has propelled the adoption of free form product. This, in turn, has triggered the trend of reducing the consumption of sugar in their diet, which encourages consumers to seek for healthy alternatives of sugar. This factor has urged food & beverages manufacturers to use stevia in their products, which is expected to offer potential growth opportunity for market expansion during the forecast period. In addition, stevia has been also known for improving the palatability of animal feeds, resulting in enhancing the appetite of livestock. This is anticipated to boost the demand for stevia in the animal feed industry. Furthermore, the food service industry, including cafes, restaurants, and hotels are increasingly adopting stevia as table top sweetener for tea and coffee. This, in turn, is anticipated to provide immense opportunity for stevia market in the food service industry during the forecast period.
According to Shankar Bhandalkar, Senior Research Analyst, Consumer Goods, “The global demand for stevia market is expected to increase due to rise in need for natural sweeteners among consumers, owing to rise in health concern. This has propped food & beverages manufacturers to use stevia in their products to meet the rising demands of consumers. “
The global stevia market is segmented into form, end user, distribution channel, and region. On the basis of form, the market is classified into liquid, powder, and others. By end user, it is divided into food & beverages industry, pharmaceutical industry, retail industry, and others. Depending on distribution channel, it is bifurcated into direct channel and indirect channel. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key findings of the study
- By form, the powder segment accounted for the highest stevia market share in 2018, growing at a CAGR of 7.2% from 2019 to 2026.
- Depending on end user, the food &beverages segment occupied the maximum share in stevia market analysis in 2018, and is expected to dominate the market forecast.
- On the basis of distribution channel, the direct channel was the highest contributor to the market in 2018, and is estimated to register a CAGR of 7.5%from 2019 to 2026.
- Region wise, Asia-Pacific accounted for about34.8% in 2018 of the stevia market by share and is expected to grow at a CAGR of 7.0%.
The key players operating in the stevia industry are Archer Daniels Midland Company, BENEO (SUDZUCKER Group), Cargill, Incorporated., Foodchem International Corporation, FRAKEN BIOCHEM CO. LTD, Haihang Industry Co., Ltd, Ingredion Incorporated, PureCircle, Tate & Lyle PLC., and Van Wankum Ingredients.
Companies Mentioned
- Archer Daniels MidlCompany
- BENEO (SUDZUCKER Group)
- Cargill Inc.rporated.
- Foodchem International Corporation
- FRAKEN BIOCHEM CO. LTD
- Haihang Industry Co. Ltd
- Ingredion Incorporated
- PureCircle
- Tate & Lyle PLC.
- Van Wankum Ingredients.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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