Stevia Market Recent Trends, Development And Growth Forecast 2026 By Regions- Revenue $1.16 Billion

Stevia Market by Form (Powder, Liquid, and Others), End User (Food & Beverages Industry, Pharmaceutical Industry, Retail Industry, and Others), and Distribution Channel (Direct Channel and Indirect Channel): Global Opportunity Analysis and Industry Forecast, 2019–2026."According to the report, the global stevia market garnered $637.1 million in 2018, and is expected to garner $1.16billion by 2026, growing at a CAGR of 8.0% from 2019 to 2026.

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Covid-19 impact-
• The pandemic has impacted the global stevia market moderately. The first phase of the lockdown led to shortage of raw materials and disruptions in the supply chain.
• However, the outbreak of Covid-19 has made people more health conscious than ever before. More and more individuals have now started consuming this natural, zero calorie, non-cariogenic sweetener as a healthy substitute of refined sugar.

Surge in application of stevia in food & beverages industry, rise indemand for the product by diabetics & obese consumers, and increasing number of product launched using stevia drive the growth of the global stevia market. On the other hand, potential threat of substitute products curtails down the growth to some extent. However, increase in demand for natural sweeteners and upsurge in adoption of stevia for animal feed are anticipated to create lucrative opportunities in the near future.

Based on distribution channel, the direct channel segment accounted for three-fourths of the global stevia market in terms of revenue in 2018, and is expected to maintain its lead position by 2026. This is due to emergence of new online web portals to sell stevia and surge in brand awareness among the potential customers. However, the indirect channel segment would witness the highest CAGR of 9.1% from 2019 to 2026, owing toeasy accessibility of products and huge discounts &offers on products.

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Based on form, the powder segment held the largest share in 2019, generating more than two-fifths of the global stevia market in 2019, and is expected to maintain its dominance throughout the forecast period. This is attributed to surge in its usage in the food & beverages, pharmaceuticals, and otherindustries for its solubility, sweetness, and long shelf life. On the other hand,the liquid segment is estimated to portray the fastest CAGR of 8.6% from 2019 to 2026, owing to availability in different flavors including vanilla, chocolate, hazelnut, lemon, and others to improve flavor of food and drinks.

Based on region, Asia-Pacific, followed by North America,accounted for nearly one third of the global stevia market share in 2018, and is estimated to maintain its top position by 2026. This is attributed toits surge ofusage in sports drinks, beverages, food products, toothpaste, and others in Asian countries along with it benefits in lowering blood pressure, managing diabetes and others.However, Europeis expected to maintain the largest CAGR of 9.5% from 2019 to 2026, owing torapid formulation and launch of new stevia containing products and reformulation of existing products by food & beverage manufacturers.

Top key Players: BENEO (SUDZUCKER Group), Cargill, Incorporated., Van Wankum Ingredients, FRAKEN BIOCHEM CO. LTD, Haihang Industry Co., Ltd, Archer Daniels Midland Company, Ingredion Incorporated, PureCircle, Tate & Lyle PLC., and Foodchem International Corporation.These market players have implemented several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the industry.

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