Stevia Market to See Significant Growth, Reaching USD 1.39 Billion by 2032 with a Focus on Clean Label Products

Overview of the Stevia Market

The global stevia market is experiencing robust growth, with its size projected to reach US$ 773.6 million by 2025 and further expand to US$ 1,387.10 million by 2032, reflecting a compound annual growth rate (CAGR) of 8.70% during the forecast period. One of the primary drivers of this growth is the increasing prevalence of diabetes worldwide. According to the International Diabetes Federation (IDF), 537 million adults were living with diabetes in 2023, a number expected to rise to 643 million by 2030. Stevia, due to its zero-calorie content and low glycemic index, is becoming a popular choice among individuals managing diabetes, making it an ideal sugar substitute.

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The growing demand for natural and clean-label products is another significant factor propelling the market. A survey revealed that 64% of global consumers prefer products that are free from artificial additives, emphasizing recognizable and natural ingredients. Stevia, being a plant-based sweetener, aligns perfectly with this trend. Additionally, the increasing shift toward healthier eating habits, including reducing sugar intake, is further driving the adoption of stevia-based products. As a result, stevia's popularity is surging, especially in the beverage, snack bar, and confectionery segments.

Key Highlights from the Report

• The global stevia market is projected to reach US$ 773.6 million by 2025 and US$ 1,387.10 million by 2032, with a CAGR of 8.70%.
• Stevia's zero-calorie and low glycemic index properties are fueling its adoption, particularly among diabetes patients.
• The clean-label trend, with an emphasis on natural ingredients, is driving the growth of stevia in the market.
• Advances in flavor masking, stevia blends, and glycoside production are improving the appeal of stevia-based products.
• Stevia-based products are anticipated to grow at an annual rate of 20% during the forecast period.
• Asia Pacific is projected to hold a dominant market share of 49.4% in 2025, driven by the growing demand for premium health products.

Market Segmentation

The stevia market can be segmented based on product form, end-use industry, and geographical region. In terms of product form, the powder segment is expected to account for a significant market share of 43.2% by 2025. This is due to the ease of use and widespread availability of powdered stevia, which is commonly used in both domestic and commercial food applications. Other forms, such as liquid stevia and stevia blends, are also growing in popularity, but powder remains the dominant form.

By end-use industry, the food and beverage sector is projected to hold a share of 37.4% in 2025. The integration of stevia as a sugar substitute in beverages, snack bars, confectionery, and even dairy products is expanding rapidly, driven by the rising consumer demand for healthier, lower-sugar options. Additionally, the growing trend of low-calorie, sugar-free products in the health and wellness market is providing further impetus to the use of stevia in food formulations.

Regional Insights

The stevia market is witnessing significant regional growth, with Asia Pacific being the dominant market. The region is expected to hold a market share of 49.4% in 2025, driven by the rising consumer interest in premium health products and a growing awareness of the health risks associated with excessive sugar consumption. The popularity of stevia as a natural sweetener is growing rapidly in countries like China, India, and Japan, where consumers are increasingly turning to healthier alternatives to traditional sugar.

Europe is another key market for stevia, with the region set to register a CAGR of 10.1% through 2032. This growth can be attributed to the implementation of regulations supporting sugar reduction and the increasing demand for clean-label products. European consumers are becoming more health-conscious and are seeking alternatives to sugar, which is fostering the adoption of stevia in various food and beverage products. Regulatory support for sugar substitutes in Europe further boosts the market for stevia-based products.

Market Drivers

The primary driver of the stevia market is the increasing global awareness of the health risks associated with sugar consumption. As diabetes rates continue to rise, more consumers are seeking sugar substitutes that offer the sweet taste of sugar without the associated health risks. Stevia, being a plant-based, zero-calorie sweetener with a low glycemic index, provides an attractive alternative to traditional sugar, especially for people with diabetes and those looking to manage their weight.

Another key driver is the growing demand for clean-label products. Modern consumers are becoming more discerning about the ingredients in their food, preferring products that are natural, transparent, and free from artificial additives. Stevia, as a plant-derived sweetener, fits perfectly into this clean-label trend, driving its adoption in a variety of food and beverage products. As consumers increasingly prioritize healthier, more natural food options, the demand for stevia is expected to continue rising.

Market Restraints

While the stevia market is experiencing significant growth, it faces a few challenges. One of the primary restraints is the taste profile of stevia, which some consumers find to have a bitter aftertaste, especially in higher concentrations. Although advancements in flavor masking and stevia blends have improved its taste, it may still be a barrier to wider adoption, particularly in certain food applications where sweetness is a key factor.

Additionally, the price of organic stevia can be higher than that of conventional sugar substitutes, which could limit its appeal to price-sensitive consumers. The availability of cost-effective alternatives may prevent stevia from achieving widespread use, particularly in emerging markets where affordability is a significant concern.

Market Opportunities

The growing trend of plant-based and vegan diets presents a significant opportunity for the stevia market. As more consumers adopt plant-based lifestyles, the demand for natural, plant-derived sweeteners like stevia is expected to rise. Stevia's compatibility with vegan diets, combined with its health benefits, positions it as an ideal ingredient for plant-based food and beverage products.

Moreover, the expanding interest in functional foods and beverages provides another opportunity for stevia-based products. Stevia is increasingly being integrated into functional beverages, snack bars, and dietary supplements that focus on weight management, blood sugar control, and overall health. With consumer interest in health-focused products continuing to grow, stevia is well-positioned to capitalize on this trend.

Reasons to Buy the Report

✔ Gain insights into the key drivers, challenges, and growth opportunities within the global stevia market.
✔ Understand the segmentation of the market by product form, end-use industry, and geography for more targeted marketing strategies.
✔ Learn about the latest innovations in stevia flavor masking, glycoside production, and blends that are enhancing product appeal.
✔ Stay ahead of market trends, including the rising demand for clean-label, sugar-free, and plant-based food products.
✔ Access detailed market forecasts, including CAGR predictions, and understand the factors influencing stevia market dynamics through 2032.

Company Insights

Key players in the stevia market include:

• Stevia First Corporation
• PureCircle Limited
• Cargill, Incorporated
• DSM Nutritional Products
• GLG Life Tech Corporation

Recent Developments

1. In 2023, PureCircle Limited launched a new line of stevia blends aimed at improving flavor and enhancing the sweetness profile of stevia-based beverages and snacks.

2. In early 2024, Stevia First Corporation expanded its operations to meet rising demand for organic stevia in North America and Europe, aligning with the clean-label trend.

With increasing health concerns and a growing preference for natural ingredients, the stevia market is poised for continued growth, offering significant opportunities for innovation and expansion in the coming years.

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