Press release
Stevia Market to reach USD 771.5 million by 2022
Stevia
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The stevia market is estimated at USD 490.1 million in 2017and is projected to grow at a CAGR of 9.5% to reach USD 771.5 million by 2022. The market is driven by factors such as rise in per capita consumption of zero calorie beverages and development of innovative stevia products that are cost-effective as well as beneficial for heath. The high growth potential in emerging markets and untapped regions provide new growth opportunities for market players. Due to its zero glycemic index and zero calories, stevia has gained popularity in many countries. FDA approval and attributing GRAS status to steviol glycosides with reduced Reb A acted as a positive influencing factor for the stevia market. In the last five years, leading food safety and regulatory agencies across the world have issued positive safety opinions on and/or allowed the safe use of purified stevia leaf extracts in food &beverages. One of the major restraining factors of the stevia market is the volatility of stevia leaf prices, which depend on seasonal fluctuations and crop yield. Many countries offer a wide range of stevia varieties, which also vary widely in stevia wholesale and retail prices leaving the prices for stevia in different regions unstable.
On the basis of application, the tabletop sweeteners segment is projected to be the fastest-growing, particularly in developing Asian economies with greater demand for sugar replacers. The convenience foods market is driven by significant product innovation, new product introduction, changes in preferences of consumers toward taste & flavor, and rise in demand for premium quality products.
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Key Points From Table Of Content :
Company Profiles :
(Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View)*
• Cargill
• Ingredion Incorporated
• Tate & Lyle PLC
• Purecircle Limited
• GLG Life Tech Corporation
• Archer Daniels Midland Company
• Sunwin Stevia International, Inc.
• S&W Seed Company
• Pyure Brands LLC
• Morita Kagakau Kogyo Co. Ltd.
• Zhucheng Haotian Pharm Co. Ltd
• Evolva Holding SA
Research Coverage:
The report analyzes the stevia market across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as extract type, application, form, and region. The report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
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