Stevia Market: Global Industry Analysis and Opportunity Assessment

Stevia Market Overview

Stevia holds an essential place under sweeteners segment owing to its benefits such as low-calorie and high protein ingredient. Stevia market is segmented on the basis of extract type and application. According to the extracts, the market is further segmented as liquid, powder, and leaf.

Among the extracts type, liquid extracts are expected to record a higher CAGR as compared to the other extracts from 2014 to 2020.

However, by application, table top sweeteners and dairy food products sub-segments are expected to collectively witness a substantial growth during the forecast period i.e. 2014–2020.

Key Trends

Increase awareness about health benefits of stevia is expected to drive the demand for stevia-based products in the near future. In addition, providing lucrative margins to distributors is expected to strengthen the partnership across the value chain. Increasing product visibility in modern retail formats as retail shelf space and product availability is predicted to create demand for stevia based products among the consumers across the globe.

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Continuous product launches catering to demand for antioxidants and natural ingredient products is expected to support the robust growth for plant-based sweeteners such as stevia in the near future.

Globally, the sweetener market is estimated to be US$ 68.1 billion in 2014 and expected to reach at US$ 95.9 billion by 2020, registering a CAGR of 5.7% during 2014-2020. Whereas, stevia market is estimated to value at US$ 347.0 million in 2014 and expected to reach US$ 565.2 million by 2020, reflecting a CAGR of 8.5% during the forecast period.

Extract Type Analysis

On the basis of extract type stevia market segmentation includes liquid, powder, and leaf extract. Liquid extracts are further sub-segmented as clear liquid extract and dark liquid extract.

Among the various extract types, powder extracts contribution to the overall pie is expected to dominant during the forecast period, accounting for 65% of the overall stevia market share by 2020.

On the basis of application or use the stevia market include dairy food products, bakery products, dietary supplements, confectionery, table top sweeteners, beverages, packaged food products, snacks, and others. Among all these segments packaged food products, beverages and table top sweeteners are collectively expected to account for around 72.0% of the global stevia market.

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In terms of revenue contribution, the dairy food products and bakery segment are expected to record significant growth, respectively during the forecast period.

Regional Analysis

Geographically, the global stevia market analysis focusses on North America, Latin America, Eastern Europe, Western Europe, Japan, Asia Pacific Excluding Japan, Japan and Middle East and Africa (MEA). North America represents the most lucrative market, followed by Latin America and Asia Pacific Excluding Japan. North America is expected to register a CAGR of 9.8% accounting for US$ 146.0 million by 2020.

Competitive Players Outlook

The global stevia market competitive landscape includes suppliers such as Nestlé S.A., The Coca-Cola Company and PepsiCo Inc. and producers such as Cargill Inc., Evolva Holding S.A., PureCircle Ltd., Stevia Corp., Ingredion Inc., GLG Life Tech Corp. and Tate & Lyle Plc.

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This release was published on openPR.