Press release
Stevia Market 2024 Rising Trends & Impressive Growth over Forecasted period 2033
Stevia Market Size
As per the report, the stevia market size has grown rapidly in recent years. It will grow from $0.83 billion in 2023 to $0.92 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The stevia market size is expected to see rapid growth in the next few years. It will grow to $1.48 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%.
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Stevia Market Growth Fueled By Escalating Diabetes And Obesity Rates
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. For instance, in July 2021, according to the International Diabetes Federation (IDF), a Belgium-based diabetes organization, the number of people with diabetes worldwide is predicted to reach 537 million in 2021, 643 million in 2030, and 783 million in 2045. It is expected that in 2021, complications arising from diabetes will result in the passing of approximately 6.7 million individuals aged between 20 and 79. Additionally, according to the World Obesity Atlas 2022, published by the World Obesity Federation, a UK-based non-profit organization, one billion people globally, including 1 in 5 women and 1 in 7 men, will be living with obesity by 2030, and that number will increase to 4 billion people, or 51% of the global population, by 2035. 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. Thus, the demand for stevia is estimated to increase, driving the growth of the market.
Innovative Advancements In The Stevia Market
Major companies operating in the stevia market are developing innovative products, such as liquid stevia-based sweeteners, to meet larger customer bases, increase sales, and increase revenue. Liquid stevia-based sweeteners are sweetening products derived from the leaves of the stevia plant (Stevia rebaudiana) that have been processed into a liquid form. For instance, in July 2022, Sweegen, Inc., a US-based manufacturer of stevia-based sweeteners, launched Bestevia LQ. Bestevia LQ stands out with its unique features tailored for applications such as carbonated soft drinks, confectionery items, liquid sweeteners, dessert toppings, and concentrated fruit or flavored syrup. Specifically designed to tackle solubility challenges, enhance product stability, and facilitate precise measurement, Bestevia.LQ is formulated for ease of handling in both laboratory and factory environments. Notably, it caters to companies with manufacturing facilities that do not utilize stevia in powder form, offering a convenient alternative.
The stevia market covered in this report is segmented -
1) By Product: Powder, Liquid, Leaf
2) By Nature: Organic, Conventional
3) By Application: Bakery, Dairy Food Products, Beverages, Dietary supplements, Confectionery, Other Applications
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Major companies operating in the stevia market report are Cargill Inc., Archer Daniels Midland Company, PepsiCo Inc., The Coca-Cola Company, Ingredion Incorporated, WhiteWave Services Inc., Tate & Lyle plc, SunOpta Inc., SweetLeaf Stevia, BENEO GmbH, Stevia Corp, Real Stevia Company, Sweet Green Fields LLC, Guilin Layn Natural Ingredients Corp, S&W Seed Co, GL Stevia Co Ltd., Sunwin Stevia International Inc., PureCircle Ltd., Pyure Brands LLC, Bioplus Life Sciences Pvt Ltd., Evolva Holding S.A., GLG Life Tech Corp, Foodchem International Corporation, Hunan Nutramax Inc., Sunrise Nutrachem Group Co Ltd., Zhucheng Haotian Pharma Co Ltd, Wisdom Natural Brands, Shandong Aojing Biotechnology Co Ltd., Morita Kagaku Kogyo Co Ltd, Ganzhou Julong High-Tech Industrial Co Ltd., Arista Industries Inc., Martin Bauer GmbH Co, Health Plus Inc., Kerry Group plc, Whole Earth Brands Inc., Steviva Ingredients Inc., Layn Corporation, Taos Inc., Biolotus Technology Jiangsu Inc., Sino-Food Machinery Co Ltd., Nutra Food Ingredients LLC
Contents of the report:
1. Executive Summary
2. Stevia Market Report Structure
3. Stevia Market Trends And Strategies
4. Stevia Market - Macro Economic Scenario
5. Stevia Market Size And Growth
…..
27. Stevia Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. 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…
