Next Generation Stevia Market Sales are Expected to Reach US$ 1.84 billion by By 2032

The next generation stevia market is expected to reach US$ 747.4 million in 2022, with a remarkable compound annual growth rate (CAGR) of 9.4% predicted for global demand over the forecast period (2022-2032).

Natural sweeteners like stevia are in high demand as a result of customers' growing desire for low-calorie, low-sugar goods and drinks. It is anticipated that the growing demand for plant-based foods and organic goods will support global shipments of next-generation stevia extract.

Global sales of next-generation stevia are predicted to rise at an impressive CAGR of 9.4% between 2022 and 2032.

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Key Takeaways From Market Study:
North America next generation stevia market holds a significant market share of 26.3% and a revenue total of US$ 196.6 million.
The Europe next generation stevia market accounts for a valuation of US$ 158 million at present and holds a market share of 21.2%.
The China next generation stevia market holds a market share of 9.7% and accounts for a total valuation of US$ 72.5 million in 2022.
The market for next generation stevia in the Asia Pacific region is expected to provide rewarding opportunities owing to the increasing demand for natural sweeteners and the high incidence of diabetes.
Rising prevalence of diabetes, presence of key food manufacturers, and increasing focus on health and fitness are expected to be prominent trends favouring next generation stevia market potential in this region.

Demand for organic and plant-based food products is expected to drive the adoption of next generation stevia sweeteners and is expected to bolster market potential throughout the forecast period.

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Regional Analysis:
The next generation stevia market in North America is expected to generate US$ 196.6 million in sales by 2022, with a noteworthy market share of 26.3%.

Prospects that support next generation stevia sales in this region include growing demand for organic products, shifting consumer preferences, and rising need for natural sweeteners. Over the course of the projected period, the United States is anticipated to remain the region's top market.

With a 21.2% market share, the next generation stevia market in Europe is currently valued at US$ 158 million. Growing attention to health and fitness, the incidence of diabetes, and the presence of major food producers are anticipated to be significant factors supporting the prospective market for next-generation stevia in this area.

Market Developments:
Arboreal, an India-based start-up focused on providing low-calorie natural sugar substitutes raised around US$ 3.5 million in two rounds of funding. The company aims to develop sugar substitutes that not only taste sweet but also mimic the qualities of sugar in terms of feel and texture as well.
B.T. Sweet Ltd., an Israel-based food technology start-up, unveiled a new plant-based sweetener called Cambya, which acts as a drop-in sugar replacer for several applications.
New market players can focus on research and development to create novel sweetening solutions and gain a prominent market share in the global next generation stevia industry.

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Competitive Landscape
Next generation stevia manufacturers are anticipated to focus on research and development of novel product offerings to gain a competitive edge over other market players. Next generation stevia suppliers are also expanding their offerings by commercializing new products and launching new products to strengthen their market presence.

In January 2021, SweeGen, a company focused on sweeteners, announced that it was commercializing its Bestevia Rebaudioside N (Reb N). This stevia is particularly suitable for beverages and is created from a patented technology from Conagen, a biotech company.

Market Segmentations:
By Form :
Liquid
Powder

By Application :
Bakery
Confectionery
Cereal-based Products
Dairy Products
Beverages
Carbonated Beverages
Juices
Others
Nutraceuticals/ Pharmaceuticals
Others

By Region :
North America
Latin America
Europe
APAC
MEA

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This release was published on openPR.