Press release
Impact Assessment of COVID-19 Outbreak on Stevia Market
Stevia Market
The global stevia market is gaining from the rising demand for stevia due to its high-intensity of sweetness and low-calorie content. Extracted from Stevia Rebaudiana plant, stevia has very low glycemic index and does not shoot up blood sugar levels, which makes it suitable for diabetic patients. Apart from this, non-cariogenic nature of stevia makes it gentle on teeth for dental health.
The report on the global stevia market is appropriately segmented on the basis of extract type and application. Powder extract holds prominence due to its versatility to be used with various foods. Packaged food products, table top sweeteners, and beverages are key applications of stevia.
The report prepared by seasoned analysts provides a brilliant assessment of the stevia market by analyzing demand drivers, challenges, trends, opportunities, competitive outlook, and other aspects.
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Global Stevia Market: Trends and Opportunities
Primarily fuelling the global stevia market is increasing awareness about the health benefits of stevia. Stevia is 200-350 times sweeter than sugar with low-calorie content because of which it is used by several food and beverage companies. Stevia has its own unique taste that enhances taste of foods in which it is used. Stevia offers several advantages such as sweetness, texture, sugar preplacement, reduction in calories, color, and flavor enhancement.
In addition, increasing availability of stevia across the globe is also fuelling the stevia market. Stevia based products are increasingly available in modern retail outlets thus benefitting the stevia market. Rising consciousness among individuals about benefits of low calorie sweetener is also stoking demand for stevia.
Furthermore, rising popularity of natural ingredients and antioxidants is also a key growth driver of the global stevia market.
On the contrary, high cost involved to engage highly skilled labor and for equipment for colex process of stevia formulation is a restraint to the growth of stevia market.
Nevertheless, R&D initiatives for new variants of stevia, new applications of stevia for zero-calorie products, and to enhance flavor of products are likely to aid the growth of stevia market in the future. Increasing use of stevia in the pharmaceutical sector is also serving to boost the stevia market.
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Global Stevia Market: Geographical Outlook
Geographically, the global stevia market is segmented into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. Large scale commercial production of stevia in China accounts for dominance of Asia Pacific in the overall market.
North America trails Asia Pacific in the global stevia market.
However, Latin America is predicted to display the most rapid growth due to huge demand from countries such as Peru, Brazil, Columbia, Uruguay, and Paraguay.
Europe is also predicted to witness high growth rate in the upcoming years due to increasing number of health conscious consumers in the region.
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Global Stevia Market: Competitive Analysis
Some key companies operating in the global stevia market are Evolva Holding S.A., Stevia Corporation, Cargill Inc., Ingredion Incorporated, PureCircle Ltd., The Coca-Cola Company, Tate & Lyle plc, Pepsico Inc., GLG Life Tech Corp. and Stevia First Corporation.
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