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The Stevia Market Size is expected to grow from USD 554.70 Mn in 2023 to USD 744.80 Mn by 2030, at a CAGR of 4.30%
The Stevia Market Size is expected to grow from USD 554.70 Million in 2023 to USD 744.80 Million by 2030, at a CAGR of 4.30% during the forecast period.
SEATTLE, WASHINGTON, USA, May 8, 2023 /EINPresswire.com/ —
Global Stevia Market Overview
The global stevia market is a rapidly growing industry driven by the increasing demand for natural sweeteners in various food and beverage products. Stevia, a plant-based sweetener, is gaining popularity as a low-calorie alternative to sugar due to its sweet taste without the associated calories. The market is expected to continue to grow due to increasing health concerns among consumers and government regulations promoting healthy eating habits. North America and Europe are the largest markets for stevia, while Asia-Pacific is expected to be the fastest-growing market due to the increasing population and changing dietary habits in the region.
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Market Segment and Regional Analysis
The global stevia market can be segmented by product type, application, and region. By product type, the market can be categorized into powder, liquid, and leaf. By application, the market can be divided into food and beverage, pharmaceuticals, and others.
Regarding regional analysis, the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominates the market due to the growing demand for natural sweeteners in the food and beverage industry. China is the largest producer and exporter of stevia in the world. North America and Europe are expected to witness significant growth due to the increasing awareness about the harmful effects of sugar consumption and the rising prevalence of obesity.
Latin America and the Middle East & Africa are expected to witness steady growth due to the increasing demand for natural sweeteners in these regions. However, the market growth may be hindered by factors such as the high cost of production, stringent regulations, and the availability of alternative sweeteners in the market.
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Prominent Market Players of the Stevia Market
Some prominent key players in the Stevia market include PureCircle Ltd., Cargill Inc., Tate & Lyle Plc, Ingredion Inc., GLG Life Tech Corp., Stevia Corp., Evolva Holding SA, Pyure Brands LLC, Wisdom Natural Brands, and Sunwin Stevia International Inc. These companies are engaged in the production and distribution of Stevia-based products such as sweeteners, extracts, and blends, among others. They are also investing in research and development to improve the quality and range of Stevia products available in the market. These key players are expanding their market reach through partnerships, collaborations, and mergers and acquisitions to strengthen their market position and offer a diverse range of Stevia products to customers across different regions.
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Key Market Segments Table: Stevia Market
Based on types, the Stevia market is primarily split into:
• Reb-A Series
• STV Series
• Glucosyl Stevia
• Reb M
• Reb D
Based on applications, the Stevia market covers:
• Health Care Products
• Food
• Beverage
• Pharmaceutical Industry
• Cosmetics
• Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historical data and forecast of the following regions are covered:
• North America
• United States
• Canada
• Mexico
• East Asia
• China
• Japan
• South Korea
• Europe
• Germany
• United Kingdom
• France
• Italy
• Russia
• Spain
• Netherlands
• Switzerland
• Poland
• South Asia
Analysis of the Impact of the Russia-Ukraine War and COVID-19
The Russia-Ukraine War and COVID-19 pandemic have had a mixed impact on the Stevia market. On one hand, the pandemic has led to an increased interest in natural and healthy food products, which has benefited the Stevia market. On the other hand, disruptions in the supply chain and logistics due to the pandemic have affected the market negatively. In addition, the Russia-Ukraine War has impacted the Stevia market by disrupting the trade relations between the two countries, leading to price fluctuations and supply chain disruptions. However, the overall impact of these events on the Stevia market has been relatively minor, and the market is expected to continue to grow in the coming years.
Key Drivers & Barriers in the Stevia Market
Some key drivers of the Stevia market include increasing demand for natural sweeteners, growing awareness regarding health benefits of Stevia, and rising demand from the food and beverage industry. Other factors such as increasing prevalence of diabetes and obesity, and favorable regulatory policies for Stevia are also driving the market growth. However, the high cost of production and the availability of alternative sweeteners may act as a barrier to market growth. Additionally, limited availability of raw materials and lack of awareness in some regions may also hinder market growth.
Key Benefits for Industry Participants & Stakeholders:
A Stevia market report provides valuable insights on the current state of the industry and future trends.
The report identifies various key issues and challenges that the market is facing, as well as offers solutions to these problems.
It provides a detailed analysis of the market segments, including their growth rates and potential applications.
Following is the list of TOC for the Stevia Market:
• Report Overview
• Study Scope and Definition
• Research Methodology
• Key Market Segments
• Players Covered: Ranking by Stevia Revenue
• Market Analysis by Type
• Market by Application
• Customer Support
• Personal Assistant
• Customer Engagement
• Retention
• Covid-19 Impact: Global Major Government Policy
• Global Stevia Market Trends and Growth Strategy
• Global Stevia Market Players Profiles
• Artificial Solutions Company Profile
• Global Stevia Production Capacity Market Share by Market Players
• Global Stevia Revenue Market Share by Market Players
• Global Stevia Production Forecast by Regions
• Global Stevia Marketing Channel, Distributors, Customers and Supply Chain
• Analyst's Viewpoints/Conclusions
• Disclaimer
Why is a Stevia Market Research Report so Important?
• Provides insights into the current market trends, opportunities, and challenges for stakeholders to make informed decisions
• Helps businesses understand their competition and market position, and develop strategies to stay ahead of the competition
• Offers an overview of the regulatory environment and potential changes that could impact the market
• Provides information on the latest technological advancements, innovations, and product launches in the industry
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