(2023-2028) Stevia Market Growth, Industry Insights, SWOT Analysis, Key Players and Forecast

According to the latest report by IMARC Group, titled "Stevia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," The global stevia market size reached US$ 705 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,132 Million by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.

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Stevia Market Overview:

Stevia is a natural sweetener that is derived from the leaves of the Stevia rebaudiana plant. It is a completely natural and zero-calorie sweetener that contains a wealth of antioxidant compounds, including flavonoids, triterpenes, tannins, caffeic acid, kaempferol, and quercetin. It is often used in combination with other sweeteners or ingredients to balance its intense sweetness and achieve the desired flavor profile. It is also considered a sustainable alternative to other sweeteners, as it requires less land, water, and resources to cultivate compared to other crops used for sweeteners, such as sugar cane or corn. It is available in various forms, including liquid, powder, and granular form, and can be used in multiple applications, such as beverages, baked goods, and desserts.

Global Stevia Market Trends:

The rising health consciousness among consumers is driving the global market. Along with this, the increasing awareness of the health impact of traditional sweeteners, such as sugar and corn syrup, is contributing to the overall demand. Moreover, the development of new extraction technologies has made it easier and more cost-effective to produce Stevia, thus creating a positive market outlook.

Besides, several leading players are heavily investing in research and development to improve the taste and functionality of Stevia, which is providing a boost to the market. Other factors, including product awareness campaigns undertaken by numerous manufacturers, increasing consumer preference for plant-based and natural product variants, growing incidences of lifestyle diseases, and a rising geriatric population are also influencing 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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