Stevia Market Poised for Substantial Growth, Expected to Reach US$ 708.1 Million by 2032 with a Strong 7.2% CAGR

The global stevia market is expected to be worth US$ 355 million in 2022, rising to US$ 708.1 million by 2032, at a 7.2% CAGR from 2022 to 2032. By the end of 2022, the stevia market is estimated to account for 12.7% of the total natural sweetener market.

The market for stevia is expanding due to the need for calorie-free, all-natural sweeteners. Stevia's plant-based origin and zero-calorie attributes have become considerably more appealing in light of the growing worry regarding sugar's potential harmful health effects. Market expansion is being fueled by consumer acceptance of healthier alternatives in the food and beverage sector, which encourages innovation and product variety.

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Even now, expansion plans are impacted by the stevia powder extract's lengthy shelf life and convenient shipping. Since the market share for powder extract, which also includes stevia blends and glycosides, is expected to reach 90% in 2021, businesses are concentrating all of their efforts on this industry.

Despite maintaining a substantial market share, organic stevia will see a sharp increase in demand over the coming years. The organic stevia market is expanding as a result of rising health awareness and growing consumer preference for healthier products.

Stevia is a common ingredient in dairy products, baked goods, dietary supplements, beverages, meals in a bag, confections, snacks, tabletop sweeteners, and other items (including electrolyte powder and pharmaceutical formulations). The widespread consumption of beverages greatly raises the producers' income.

WHO & Government Support for the Use of Stevia in the Food & Beverages Industry Boosting the Market Growth

Government and health organisation support is one of the primary reasons propelling the growth of the stevia market. Since consumers now verify certifications and government clearance to evaluate a product's safety, food and beverage makers must use the right ingredients to gain their trust.

Stevia has received approval from various regulatory bodies to be used as a natural sweetener in several end-use applications, offering significant impetus to the market growth.

Stevia, a natural sweetener, is reshaping the food and beverage industry," the research manager, referencing their recent market research study. "With increasing consumer demand for healthier alternatives to sugar, Stevia's market growth is significant and poised for further expansion in various product categories.

Key Companies Profiled:

Cargill Incorporated
Ingredion Incorporated
Koninklijke DSM NV
Tate and Lyle Plc.
Sunwin Stevia International, Inc.
GLG Life Tech Corp
Evolva Holding SA Nemours & Co
Archer Daniels Midland Company
Stevia Nutra Corp.
Manufacturers Emphasize Building Consumer Trust through Transparency in Production

New technologies have provided consumers the accessibility to smart labels, through which they can track the journey of the products. Consumers are asking food companies to increase the transparency of their products, going beyond free-from status, ingredients, and nutritional levels.

Buyers are demanding to understand the background of the products - from where and how the ingredients were sourced to the manufacturing of the end product. Trust and transparency have become major challenges in the food and beverages industry, as governments don't lay down any strict regulations and guidelines regarding clean labeling.

Companies have started using clean labeling as a catchword for promotional and marketing purposes and have taken advantage of this to sell their products as clean-label products. Manufacturers need to adopt cleaner practices to sell their clean-label food products without alienating consumers' trust.

This study by FMI offers insights into the stevia market for the forecast period of 2022-2032. The stevia market is projected to record a CAGR of ~ 7.2% during the predefined timeframe.

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-Global Stevia Market by Category:

-By Nature, Global Stevia Market is segmented as:

Organic Stevia
Conventional Stevia

-By Type, Global Stevia Market is segmented as:

Liquid Extract
Clear
Dark
Powder Extract
Stevia Blends
Glycoside (40%-79%)
Glycoside (80% and above)
Stevia Leaves

-By Application, Global Stevia Market is segmented as:

Dairy Food Products
Bakery Products
Beverages
Packaged Food Products
Dietary Supplements
Confectionery Products
Snacks
Table Top Sweeteners
Others (Electrolyte Mixes and Medicinal Formulations)

-By Region, Global Stevia Market is segmented as:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa

-Have a Look at Related Reports of Food and Beverage Domain:

https://www.futuremarketinsights.com/reports/organic-stevia-market

https://www.futuremarketinsights.com/reports/naturally-derived-sweeteners-market

https://www.futuremarketinsights.com/reports/high-intensity-sweetener-market

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.