Stevia Market Size, Share, Growth, Key Players, and Forecast 2023-2028

According to the latest report by IMARC Group, titled “Stevia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on stevia market trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global stevia market size reached US$ 705 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,132 Million by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.

Stevia Market Overview:

Stevia is a natural, calorie-free sweetener derived from the leaves of the Stevia rebaudiana plant. It is renowned for its intensely sweet taste without sugar's calories or glycemic impact, making it a popular sugar substitute. Its sweetness primarily comes from compounds called steviol glycosides, notably stevioside and rebaudioside A. This natural sweetener has gained significant attention as a sugar alternative in various food and beverage products, particularly in response to the rising demand for healthier, low-calorie options. Its potential to help manage blood sugar levels and reduce calorie intake has positioned it as a key player in the sweetener industry and a choice for health-conscious consumers.

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Global Stevia Market Trends:

The global market is majorly driven by the increasing awareness of health issues like obesity and diabetes. In line with this, the product offers a sugar-like taste without the associated calories, making it an attractive option for individuals looking to reduce sugar consumption. Furthermore, the product aligns with the clean label movement, catalyzing its sales. Apart from this, the beverage sector, including soft drinks and flavored waters, incorporates stevia as a sugar substitute to meet consumer demands for healthier options. Moreover, the product usage has expanded into various food products like desserts, snacks, and condiments, propelling the market.

The escalating global regulatory approvals for steviol glycosides drive market growth, ensuring its safety and acceptance. Besides, the increasing consumer awareness and rising health concerns in emerging economies contribute to market expansion. Ongoing research and innovation efforts are creating new stevia-based formulations and applications, bolstering the market. Additionally, the policies aimed at reducing sugar consumption, such as sugar taxes, incentivize using stevia as an alternative sweetener, strengthening the market growth.

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Key Market Segmentation:

Breakup by Extract Type:

• Powder
• Liquid
• Leaf

Breakup by End Use:

• Beverages
• Food Products
• Table Top Sweeteners
• Pharmaceuticals
• Others

Competitive Landscape with Key Players:

The competitive landscape of the market has been examined in the report with detailed profiles of major players operating in the market.

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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