Stevia Market Projected to Touch USD 1,387.10 Million by 2032 | Persistence Market Research Report

The global stevia market is experiencing significant growth, driven by an increasing demand for healthier alternatives to sugar. With its zero-calorie profile and low glycemic index, stevia is gaining popularity among health-conscious consumers, particularly those managing conditions like diabetes. The stevia market is forecasted to reach US$ 773.6 million by 2025 and is projected to grow at a compound annual growth rate (CAGR) of 8.70%, reaching US$ 1,387.10 million by 2032. As more consumers seek natural, plant-based sweeteners, the stevia market is expected to continue to expand, particularly in regions like Asia Pacific and Europe.

Get a Sample PDF Brochure of the Report (Use Corporate Email ID for a Quick Response): https://www.persistencemarketresearch.com/samples/3834

Overview of the Market

The stevia market has gained significant traction over recent years, driven by a combination of consumer health trends, dietary shifts, and growing concerns over the harmful effects of excessive sugar consumption. Stevia, derived from the Stevia rebaudiana plant, offers a natural, calorie-free alternative to traditional sweeteners, making it particularly appealing to those with diabetes, weight management concerns, or a preference for clean-label products. In fact, the International Diabetes Federation (IDF) reported in 2023 that 537 million adults globally are living with diabetes, with this number expected to increase to 643 million by 2030, which is further fueling demand for low-calorie sweeteners like stevia.

Stevia's ability to meet the growing trend for clean-label products-products that highlight natural, recognizable ingredients-has made it a popular choice among consumers. According to recent consumer surveys, 64% of people worldwide prefer products with natural ingredients, a trend that is expected to continue driving the adoption of stevia in food and beverages. Furthermore, organic stevia is projected to grow at a CAGR of 3.3% during the assessment period, aligning with the increasing interest in organic and sustainable food products.

Key Highlights from the Report

➤ The stevia market is forecast to grow from US$ 773.6 million in 2025 to US$ 1,387.10 million by 2032, with a CAGR of 8.70%.
➤ The powder form of stevia is expected to account for 43.2% of the market share in 2025 due to its versatility and ease of use.
➤ Stevia-based products are predicted to grow at an annual rate of 20% during the forecast period.
➤ The Asia Pacific region is expected to hold a significant 49.4% of the market share in 2025, driven by rising health-consciousness.
➤ The European stevia market is anticipated to grow at a robust CAGR of 10.1% through 2032, fueled by sugar-reduction policies.
➤ Advances in flavor masking and stevia blends are expected to improve product appeal and consumer acceptance.

Market Segmentation

The stevia market is segmented based on nature, form, end-use, and distribution channel. The most notable segment is powdered stevia, which holds the largest market share, owing to its ease of use, versatility, and cost-effectiveness. It is particularly favored for inclusion in beverages like tea, coffee, and ready-to-drink products. The powder form's long shelf life and ease of transportation make it an attractive option for manufacturers, as it simplifies both production and consumer use.

In terms of end-use, the food and beverage sector dominates the market, accounting for a significant portion of stevia consumption. Stevia is increasingly being integrated into beverages, dairy products, snack bars, and confectionery items. With 75% of consumers in 2024 expressing a preference for natural sweeteners in their food, companies are adapting their product lines to meet the growing demand for healthier alternatives to sugar. The integration of stevia into these products is particularly strong among leading food and beverage players, who are increasingly focusing on sustainable and natural ingredients.

Regional Insights

Asia Pacific

The Asia Pacific region is poised to dominate the global stevia market, with an expected market share of 49.4% by 2025. This dominance is driven by an increase in diabetes prevalence in countries like India and China, where over 200 million people are affected by type 2 diabetes. As disposable incomes rise in this region, consumers are turning to premium, health-conscious products, including natural sweeteners like stevia. Additionally, 70% of consumers in Asia Pacific prefer natural sweeteners over artificial ones, further enhancing the demand for stevia.

Europe

Europe is set to experience significant growth in the stevia market, with a projected CAGR of 10.1% through 2032. This growth is largely attributed to regulatory frameworks that support sugar reduction in food products. The Soft Drinks Industry Levy in the UK, along with France's Nutrition and Health Program, has led food manufacturers to turn to healthier sugar alternatives like stevia. Additionally, the increasing awareness of obesity and diabetes, with 60% of adults in the European Union being classified as overweight or obese, is driving demand for stevia-based products in Europe.

Market Drivers

Rise in Health Consciousness and Sugar Reduction Initiatives

A key driver for the growth of the stevia market is the increasing consumer awareness of the negative health effects of excessive sugar consumption. With rising rates of obesity and diabetes, particularly in developed economies, more individuals are turning to low-calorie, natural alternatives like stevia. Governments are also supporting this shift through policies such as sugar taxes and initiatives aimed at reducing sugar consumption in food and beverages. This alignment between health concerns and government regulations is expected to drive long-term growth for stevia.

Clean-Label and Organic Trends

Consumers are becoming increasingly concerned with the ingredients in the products they purchase. According to a survey, 64% of consumers prefer clean-label products, which feature natural and recognizable ingredients. As a plant-based sweetener, stevia perfectly aligns with the clean-label trend. The market for organic stevia is particularly strong, as more consumers seek food products that are free from synthetic pesticides and genetically modified organisms (GMOs). Organic stevia is expected to experience steady growth as consumer demand for eco-friendly and sustainable products rises.

Market Restraints

Taste and Aftertaste Challenges

One of the primary challenges in the stevia market is the taste and aftertaste issues associated with stevia. While stevia is considerably sweeter than sugar, it can sometimes leave a bitter or licorice-like aftertaste that many consumers find unappealing. A 2024 survey found that 35% of consumers expressed dissatisfaction with the aftertaste of stevia-based products, which can limit broader acceptance. While innovations like Reb M and Reb D have improved the taste profile of stevia, overcoming this challenge remains a significant hurdle for manufacturers.

Limited Consumer Awareness in Emerging Markets

Although stevia is gaining popularity in developed markets, consumer awareness is still limited in some emerging markets, particularly in regions outside of Asia Pacific and Europe. The lack of knowledge about stevia's benefits as a natural, low-calorie sweetener can hinder its adoption in these regions. Manufacturers will need to invest in educational campaigns and collaborations with local food brands to increase awareness and drive demand for stevia-based products in these markets.

Market Opportunities

Technological Advancements in Stevia Extraction

Innovative extraction technologies, such as fermentation and enzyme-modified glycosides, present a significant opportunity for reducing the production costs of high-quality stevia extracts. These methods enhance glycoside recovery rates and ensure that stevia's sweetness is more consistent and natural-tasting. With the ability to isolate high-purity compounds like Rebaudioside M (Reb M), these techniques can help overcome the aftertaste issue while making stevia a more cost-effective sweetener.

Collaborations with Food and Beverage Companies

Another key opportunity lies in collaborations between stevia producers and leading food and beverage companies. These partnerships provide access to extensive R&D facilities, distribution networks, and marketing expertise. Notable collaborations include PepsiCo's partnership with Cargill to develop Pepsi Zero Sugar sweetened with EverSweet, and Nestlé's collaboration with stevia suppliers to reduce sugar content in products like KitKat. These collaborations will help stevia producers increase product diversification and market reach, thereby accelerating the adoption of stevia-based solutions.

Frequently Asked Questions (FAQs)

➤ How big is the stevia market?
➤ Who are the key players in the global stevia market?
➤ What is the projected growth rate of the stevia market?
➤ What is the market forecast for the stevia industry in 2032?
➤ Which region is estimated to dominate the stevia market through the forecast period?

Company Insights

Several prominent players in the stevia market are focused on innovation and expanding their product offerings to meet the rising demand for natural, low-calorie sweeteners:

✦ Tate & Lyle
✦ Ingredion Incorporated
✦ Cargill, Incorporated
✦ PureCircle
✦ Wisdom Natural Brands
✦ Archer Daniels Midland Company
✦ Van Wankum Ingredients
✦ Whole Earth Sweetener Co., LLC
✦ SOPURE STEVIA

Recent Developments

■ In June 2024, Ingredion Incorporated announced that the UK food safety regulators had approved the use of PureCircle steviol glycosides.
■ In May 2024, HOWTIAN introduced SoPure Andromeda, a new addition to its top-rated SoPure line of stevia products.

The global stevia market is on an upward trajectory, driven by shifting consumer preferences for healthier, natural sweeteners. As innovations continue to improve the taste and production processes of stevia, its widespread adoption is likely to grow, particularly in health-conscious regions like Asia Pacific and Europe. Manufacturers that focus on improving product appeal and collaborating with leading food brands are poised to capitalize on the expanding market opportunities.

Contact Us:

Persistence Market Research
G04 Golden Mile House, Clayponds Lane
Brentford, London, TW8 0GU UK
USA Phone: +1 646-878-6329
UK Phone: +44 203-837-5656
Email: sales@persistencemarketresearch.com
Web: https://www.persistencemarketresearch.com

About Persistence Market Research:

At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.

Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.

This release was published on openPR.