Stevia Market to Reach US$ 1,054.5 Million Globally by 2027

According to the latest report by IMARC Group, titled "Stevia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," The global stevia market reached a value of US$ 644 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,054.5 Million by 2027, exhibiting a CAGR of 8.5% during 2022-2027.

Stevia is a natural sweetener that can create a desired sweet taste. It contains lower calories than sugar-based sweeteners, making it a zero-calorie or low-calorie sweetener. It offers various potential benefits, especially in managing diabetes and obesity, controlling blood pressure, and managing weight. Therefore, consumers use it as a preferred sugar substitute in various foods and beverages. Stevia possesses various beneficial properties, such as enhancing flavor, preventing fermentation and discoloration, reducing stickiness in beverages, and high heat resistance.

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Global Stevia Market Demand Analysis:

The global market is majorly driven by the increasing prevalence of diabetes and cardiovascular diseases among the masses. In line with this, the rising demand for natural sweeteners and the growing application of the product in the beverage industry are positively influencing the market. Apart from this, the rising number of product launches and rapid innovations in the food and beverage sector is propelling the market. Moreover, the growing requirement to meet the demand for sugar substitutes from customers with diabetes and obesity is offering lucrative growth opportunities to the market players. Besides, multiple manufacturers are strongly focusing on new ways to reduce the calorific content of the product without compromising on its taste. Additionally, the shifting consumer inclination toward plant-based products is further providing a boost to the market.

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Key Market Segmentation:

Breakup by Extract Type:

• Powder
• Liquid
• Leaf

Breakup by End Use:

• Beverages
• Food Products
• Table Top Sweeteners
• Pharmaceuticals
• Others

Competitive Landscape with Key Players:

The competitive landscape of the market has been examined in the report with detailed profiles of major players operating in the market.

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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This release was published on openPR.