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Stevia Market Detailed Analysis, Growth Factors, Upcoming Trends And Opportunities 2023 -2032: ADM, PureCircle Ltd., Sweet Green Fields LLC, Biosweet Ventures
Stevia Market
Stevia Market Size, Growth Rate, And Forecast
The global stevia market size grew from $0.75 billion in 2022 to $0.82 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The stevia market size is expected to grow to $1.3 billion in 2027 at a CAGR of 12.1%.
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Stevia Market Drivers
The rising prevalence of diabetes and obesity is expected to propel the growth of the stevia market in the forecast period. The main causes leading to obesity are unhealthy lifestyle, physical inactivity, overeating, genetics, increase in stress levels which rises the risk of diabetes, heart disease, and certain cancers. According to the International Diabetes Federation (IDF), almost 463 million people worldwide had diabetes in 2020 and it is estimated that nearly 5.3 million individuals will be living with the disease by 2025. According to the World Obesity report, it is expected that 1 in 5 adults worldwide to have obesity by 2025, and the obesity prevalence is predicted to reach 18% in men and surpass 21% in women. As the prevalence of diabetes and obesity rises, customers are looking for zero-calorie natural sweeteners to help them maintain a healthy lifestyle and keep their blood sugar levels in check.
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Stevia Market Segments
• By Product: Powder, Liquid, Leaf
• By Nature: Organic, Conventional
• By Application: Bakery, Dairy Food Products, Beverages, Dietery supplements, Confectionery, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the stevia market.
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Stevia Market Key Players
Major competitors in the stevia market include GLG Life Tech Corp., Ingredion Incorporated, Tate & Lyle PLC, The Coca-Cola Company, PepsiCo Inc., Cargill Inc., Evolva Holding S.A., Stevia Corp.
The Business Research Company's "Global Stevia Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Stevia Market Include:
1. Executive Summary
2. Stevia Market Characteristics
3. Stevia Market Trends And Strategies
4. Stevia Market - Macro Economic Scenario
5. Stevia Market Size And Growth
………………
27. Stevia Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Stevia Market
29. Stevia Market Future Outlook and Potential Analysis
30. Appendix
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Stevia Market
Parent Market Analysis
Sweetener market comprises ofcaloric and non-caloric sweeteners. Among which caloric sweetener includes sucrose, table sugar, raw sugar, and others. Whereas non caloric sweetener have been further segmented into natural as well as synthetic sweeteners. The natural sweeteners are further classified as low potency and high potency sweetener whereas synthetic sweeteners include advantame, aspartame, sucralose and others. Increased consumer awareness towards low caloric food across the globe has changed…
