Stevia Market Set to Reach $978 Million by 2031 Driven by Growing Demand for Clean-Label and Sugar-Free Products

The global stevia market is poised for significant growth, with its value projected to rise from $528 million in 2024 to $978 million by 2031, reflecting a robust CAGR of 8.1% during the assessment period. This surge is driven by increasing health consciousness among consumers, a preference for natural sweeteners, and supportive regulatory policies encouraging sugar reduction.

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Key Market Drivers
Rising Prevalence of Diabetes and Obesity:
The International Diabetes Federation (IDF) reports that 537 million adults globally are living with diabetes, with this number projected to reach 643 million by 2030. Stevia's zero-calorie and low glycemic index properties make it an ideal choice for consumers managing diabetes or reducing sugar intake.

Shift Towards Clean-Label Products:
With 64% of global consumers favoring products made with natural and recognizable ingredients, stevia aligns perfectly with the growing clean-label trend. Its integration into beverages, snack bars, and confectioneries has further fueled demand.

Technological Advancements:
Innovations in flavor masking, glycoside production, and stevia blends are enhancing product appeal, making stevia a preferred sugar alternative in various applications.

Regional Insights
Asia Pacific Leads Global Stevia Market
Expected to hold a 49.4% market share in 2024, Asia Pacific is witnessing a shift towards premium and health-focused products driven by rising disposable income.
The region has a high prevalence of diabetes, with 90 million people in India and 130 million in China living with type 2 diabetes, further driving demand for natural sweeteners.
Traditional cultural acceptance of natural sweeteners like honey and palm sugar also boosts stevia's popularity in this region.

Europe Emerges as a High-Growth Region
Europe's stevia market is projected to register a CAGR of 10.1% through 2031, spurred by increasing consumer awareness about the health risks of sugar.
Policies like the Soft Drinks Industry Levy in the U.K. and France's Nutrition and Health Program are compelling manufacturers to adopt sugar substitutes, promoting stevia's use in food and beverages.

Key Industry Highlights
Stevia-Based Product Growth: The launch of stevia-based products is anticipated to grow at an annual rate of 20% during the assessment period, particularly in the food and beverage sector, which is expected to hold a 37.4% market share in 2024.

Powder Form Demand: Powdered stevia will dominate, accounting for 43.2% market share in 2024, thanks to its versatility and wide availability.
Clean and Green Production: Companies are adopting eco-friendly practices and transparent supply chains to meet growing consumer expectations and gain a competitive edge.
Future Opportunities

Sustainable Production:
As sustainability becomes a core concern for consumers, companies focusing on environmentally friendly manufacturing practices are expected to capture greater market share.

Rising Consumer Awareness:
Educational campaigns and marketing efforts highlighting stevia's health benefits are likely to attract new customers globally.

Regulatory Support:
Policies promoting sugar reduction in processed foods and beverages will continue to propel the stevia market forward, particularly in developed regions like Europe and North America.

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Conclusion
The global stevia market is undergoing rapid expansion, fueled by the convergence of health awareness, clean-label trends, and regulatory incentives. As manufacturers innovate and adapt to evolving consumer preferences, stevia is set to become a dominant force in the sugar substitute industry, offering significant opportunities for stakeholders across the value chain.

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This release was published on openPR.