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Stevia Market Projected to Reach USD 708.1 Million by 2032, Driven by Growing Demand for Natural, Zero-Calorie Sweetener 
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Europe Stevia Market is stipulated to account for ~50% of the revenue value shares in the stevia market by the end of 2032
NEWARK, DELAWARE, UNITED STATES, August 28, 2023/EINPresswire.com/ — The Stevia market is set to grow due to rising demand for healthier, nutrition-rich products. Derived from the Stevia rebaudiana plant, this natural sweetener offers calorie-free sweetness, aligning with the global trend towards reduced sugar intake and natural ingredients. As health-conscious consumers seek better dietary options, the stevia market is expected to expand across food and beverage categories, providing a sweet solution that meets taste and health preferences. Furthermore, Europe is stipulated to account for ~50% of the revenue value shares in the stevia market by the end of 2032. Europe is prophesied to continue to be the opportunistic market for stevia distributors and manufacturers, owing to increasing production and demand for natural sweeteners in prominent countries such as the UK and Germany.
The Stevia market is experiencing remarkable growth as consumer preferences shift towards healthier alternatives to traditional sweeteners. Derived from the Stevia rebaudiana plant, Stevia offers a natural, zero-calorie sweetening solution without the drawbacks of artificial additives. Rising health concerns and increasing awareness of sugar-related health issues are driving the demand for Stevia-based products across the food and beverage industry.
The global stevia market is expected to be worth USD 355 million in 2022, rising to USD 708.1 million by 2032, at a 7.2% CAGR from 2022 to 2032. By the end of 2022, the stevia market is estimated to account for 12.7% of the total natural sweetener market.
Stevia is a zero-calorie natural sweetener obtained from the leaves of the plant Stevia rebaudiana. It contains steviol glycosides, which are active molecules that are 30-150 times sweeter than sucrose. Steviol glycosides that are active are both pH and heat-stable. Various governments throughout the world have legalized the use of stevia as a sweetener. Stevia can be found in approximately 1,400 different food and beverage products, including soft drinks, juices, yoghurt, confectionery, bakery, and many more.
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Because of its long shelf life and simplicity of transportation, Stevia powder extract continues to have an impact on growth strategies due to its prolonged shelf life and ease of shipping. Manufacturers are concentrating their efforts primarily on this area, which also includes stevia mixes and glycosides, as the powder extract accounted for around 90% of the market in 2021.
While conventional stevia continues to hold a sizable market share, demand for organic varieties is anticipated to grow quickly in the upcoming years. The market for organic stevia is expanding due in part to rising health consciousness and consumer preference for healthy goods.
Numerous products—including dairy foods, baked goods, dietary supplements, drinks, packaged foods, confections, snacks, tabletop sweeteners, and others (electrolyte powder and pharmaceutical formulations)—use stevia. The huge application in beverages is probably responsible for a large portion of the producers’ profits.
WHO & Government Support for the Use of Stevia in the Food & Beverages Industry Boosting the Market Growth
The support from health organizations and governments is one of the key reasons for the growth of the stevia market. As today’s consumers interpret the safety of the product by looking for certifications and government approval, it becomes necessary for the manufacturers in the food and beverages industry to use appropriate ingredients to gain the trust of the consumers.
Stevia has received approval from various regulatory bodies to be used as a natural sweetener in a number of end-use applications, thereby offering significant impetus to the market growth.
Top Key Companies Profiled in the Stevia Market:
Cargill Incorporated
Ingredion Incorporated
Koninklijke DSM NV
Tate and Lyle Plc.
Sunwin Stevia International, Inc.
GLG Life Tech Corp
Evolva Holding SA Nemours & Co
Archer Daniels Midland Company
Stevia Nutra Corp.
Manufacturers Emphasize Building Consumer Trust through Transparency in Production
New technologies have provided consumers the accessibility to smart labels, through which, they can track the journey of the products. Consumers are nowadays asking food companies to increase the transparency of their products, going beyond free-from status, ingredients, and nutritional levels.
Buyers are demanding to understand the background of the products – from where and how the ingredients were sourced to the manufacturing of the end product. In the food and beverages industry, trust and transparency have become major challenges, as there aren’t any strict regulations and guidelines laid down by governments regarding clean labeling.
Companies have started using clean labeling as a catchword for promotional and marketing purposes, and have taken advantage of this to sell their products as clean label products. It is essential for manufacturers to adopt cleaner practices to sell their clean label food products without alienating the trust of consumers.
This study by FMI offers insights into the stevia market for the forecast period of 2022-2032. The stevia market Share is projected to record a CAGR of ~ 7.2% during the predefined timeframe.
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Global Stevia Market by Category
By Nature, Global Stevia Market is segmented as:
Organic Stevia
Conventional Stevia
By Type, Global Stevia Market is segmented as:
Liquid Extract
Clear
Dark
Powder Extract
Stevia Blends
Glycoside (40%-79%)
Glycoside (80% and above)
Stevia Leaves
By Application, Global Stevia Market is segmented as:
Dairy Food Products
Bakery Products
Beverages
Packaged Food Products
Dietary Supplements
Confectionery Products
Snacks
Table Top Sweeteners
Others (Electrolyte Mixes and Medicinal Formulations)
By Region, Global Stevia Market is segmented as:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa
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