Rising Demand for Clean-Label is boosting the Global Stevia Market Growth at 7.24%

According to the estimations put forth by Inkwood Research, the Global Stevia Market growth is set to evolve at a CAGR of 7.24% in terms of revenue during the forecasting years of 2019-2028.

"Browse 39 Market Data Tables and 42 Figures spread over 145 Pages, along with an in-depth TOC on the Global Stevia Market Forecast 2019-2028."

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Stevia is used for making tea and sweetening beverages. It is native to Paraguay, and is used as a non-nutritive sweetener and herbal supplement. It has extensive applications in the food & beverage and pharmaceuticals.

Growing Inclination toward Clean-Label drives Market Growth
The growing health awareness worldwide has resulted in a product getting scrutinized before buying. This is especially seen in the developed economies like Germany, the United Kingdom, and the United States. Manufacturers are replacing high-calorie polyols with natural sweeteners. Natural sweeteners stevia is replacing sugar alcohols like maltitol and sorbitol, which are known to cause digestive problems. Also, Clean Label has surged the demand for natural sweeteners like stevia. Around 60% of Americans prefer low-calorie sugar alcohols as per the Global Stevia Institute internal survey. As a result, companies are openly committing to eliminating artificial sweeteners from their products.
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Liquid Form to harbor the Largest Market Share
Liquid stevia comes in a container with a dispenser. It comes in different flavors like vanilla, lemon, hazelnut, and chocolate, and enhances the flavor of food and drinks. It is convenient to use, since it dissolves briskly in both hot & cold beverages. It also blends well with sugar alcohols and inulin. It is highly soluble than other forms of stevia. Its cost-effectiveness makes it popular in industries like food & beverage. Moreover, liquid stevia is easy to formulate. It is increasingly preferred in commercial-scale applications, since it is concentrated, needing only a small quantity for use.

Asia Pacific to record the Highest CAGR
China harbors the major production of stevia, while the utilization of stevia is in Japan. China is also the largest supplier of stevia in the world. Stevia is not new to the Asia Pacific region, since it has been used in food & beverage and dietary supplements. In Japan, food & beverage companies are increasingly using stevia as an additive, given its beneficial properties. With the increasing awareness among health-conscious consumers, the market is projected to fare well in the region.
The intense competitive rivalry in the market is attributed to the strong distribution network of key international players, along with the conducive regulatory environment. Some of the major players in the market include, Haihang Industry Co Ltd, Ingredion Inc, Archer Daniels Midland Company (ADM), Beneo GmbH, Fraken Biochem Co Ltd, etc.

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