Stevia Market Projected to Hit US$ 1,387.1 Mn by 2032 - Persistence Market Research

The global stevia market is experiencing rapid growth, driven by rising consumer awareness of health and wellness, increasing prevalence of diabetes, and a growing shift toward natural and clean-label products. With its zero-calorie content and plant-based origin, stevia is emerging as a preferred sugar substitute across various sectors, including food and beverage, dietary supplements, and household use. As of 2025, the market is estimated to be valued at US$ 773.6 million and is projected to reach US$ 1,387.10 million by 2032, recording a CAGR of 8.70%.

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Stevia's rise in popularity can be attributed to its favorable glycemic index, suitability for diabetic populations, and alignment with consumer demand for sustainable and organic ingredients. The powdered form of stevia is leading the market, anticipated to account for 43.2% of the total share by 2025. Regionally, Asia Pacific dominates with a projected market share of 49.4%, fueled by health-conscious consumers and economic growth facilitating access to premium products.

Key Highlights

➔ Stevia-based product launches are expected to increase by 20% annually through 2032.
➔ Powdered stevia to lead in form category with a 43.2% market share by 2025.
➔ Asia Pacific to capture 49.4% of the market by 2025, driven by rising health awareness.
➔ Food and beverage sector expected to account for 37.4% of end-use share by 2025.
➔ Organic stevia to grow at a CAGR of 3.3% in line with the clean-label movement.
➔ Europe projected to record a CAGR of 10.1% due to sugar-reduction regulations.

Market Segmentation

The stevia market is segmented based on nature, form, end use, and distribution channel. By nature, the market is divided into organic and conventional variants, with organic stevia gaining traction due to environmental and health-conscious consumers. Form-wise, powdered stevia dominates due to its convenience, long shelf life, and cost-efficiency, followed by liquid and dried leaf formats.

In terms of end use, the food and beverage segment holds the largest share, followed by bakery, confectionery, dairy products, and dietary supplements. Household/retail and other applications also contribute significantly. By distribution channel, business-to-business transactions dominate, while business-to-consumer channels like supermarkets, convenience stores, and online retail are gaining ground due to changing shopping behaviors.

Regional Insights

Asia Pacific remains the frontrunner in the stevia market, estimated to hold 49.4% share in 2025. Increasing disposable incomes and a heightened prevalence of diabetes (90 million in India and 130 million in China) are pushing demand for healthier sweetener options. Consumer preference for natural over artificial ingredients and cultural familiarity with plant-based sweeteners further aid market penetration.

Europe is anticipated to grow at a CAGR of 10.1% through 2032. Public health initiatives like the UK's Soft Drinks Industry Levy and France's Nutrition and Health Program encourage sugar reduction and adoption of alternatives like stevia. Over 50% of European consumers are actively reducing sugar intake, creating ample opportunities for stevia-based innovations.

Market Drivers

The market is significantly driven by the increasing incidence of obesity and diabetes, leading consumers to seek healthier sugar alternatives. A 2024 IFIC study indicated that 74% of U.S. consumers actively aim to limit or avoid sugar, and the movement has further popularized stevia for its low glycemic impact. Its appeal extends to vegetarians, vegans, and flexitarians due to its natural origin and plant-based benefits.

Additionally, the demand for sustainability and transparency is pushing consumers toward products with organic and fair-trade certifications. Brands that offer pesticide-free, GMO-free, and ethically sourced stevia are likely to see higher acceptance and consumer loyalty.

Market Restraints

Despite its advantages, the bitter aftertaste associated with some steviol glycosides hampers its universal appeal. Around 35% of consumers surveyed in 2024 reported dissatisfaction with stevia's lingering taste. High-intensity sweetness, often 200 to 350 times sweeter than sugar, poses formulation challenges, especially in beverages and dairy products. Innovations in fermentation and glycoside extraction (e.g., Reb M) are attempting to overcome these limitations.

Market Opportunities

Advanced extraction and fermentation techniques are opening new avenues for reducing bitterness and improving scalability. Companies like Cargill and DSM are investing in enzyme-modified stevia production to isolate high-purity compounds like Reb M and Reb D, significantly improving taste and consumer acceptance.

Collaborations with beverage and food giants such as Coca-Cola, PepsiCo, and Nestlé are fueling product diversification and mass adoption. These alliances help stevia producers leverage existing distribution networks and R&D capabilities, ensuring higher visibility and faster market penetration. Innovations like stevia-sweetened chocolates, dairy-free beverages, and bakery items are rapidly gaining shelf space in supermarkets globally.

Frequently Asked Questions (FAQs)

◆ How big is the stevia market and what is its forecast value for 2032?
◆ Who are the key players in the global stevia market?
◆ What is the projected growth rate of the stevia market from 2025 to 2032?
◆ What are the main market drivers supporting stevia's adoption?
◆ Which region is estimated to dominate the stevia industry during the forecast period?

Company Insights

• Tate & Lyle
• Ingredion Incorporated
• Cargill, Incorporated
• PureCircle
• Wisdom Natural Brands
• Archer Daniel Midland Company
• Van Wankum Ingredients
• Whole Earth Sweetener Co., LLC
• SOPURE STEVIA
• SteviaPac Food Innovation
• Xinghua GL Stevia Co., Ltd
• Frontier Co-op.
• Nature's Answer
• Steviva Brands
• Swanson
• GLG LIFE TECH CORP
• MORITA KAGAKU KOGYO CO., LTD.
• The Truvia Company, LLC
• Evolva Holding SA Nemours & Co.

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