Stevia Market Size is projected to reach USD 1.40 Billion by 2030, growing at a CAGR of 8.9%: Straits Research

The global stevia market size was worth USD 650 million in 2021, and it is projected to reach USD 1400 million by 2030, registering a CAGR of 8.9% during the forecast period (2022-2030). Asia-Pacific is the dominant region. It is predicted to grow at a CAGR of 10.1% during the forecast period.

New York, United States, July 06, 2022 (GLOBE NEWSWIRE) -- Stevia is a sugar replacement that is naturally occurring. The herbal plant Stevia Rebaudiana, a member of the Chrysanthemum family that grows naturally in the jungles of Brazil and Paraguay, is used in the production process. Glycosides are the components of stevia leaves that give the plant its sweetness. Stevia is nearly 200 times sweeter than sugar, according to studies. Furthermore, it is a calorie-free sweetener with no adverse effects on the human body. As a result, people are shifting their preferences away from artificial sweeteners and toward natural sweeteners. This is expected to generate a significant growth opportunity for the stevia market during the projected period. During the projected period, the stevia market is expected to rise favorably due to an increase in demand for nutrition-rich goods among consumers who live a healthy lifestyle.

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Surge in the Demand for Natural Sweeteners to Drive the Global Stevia Market

Most customers, especially in developed economies such as the United States, the United Kingdom, and Germany, extensively study a product's label before purchasing it, as health awareness grows. As a result of customer awareness, manufacturers have begun to substitute high-calorie polyols with natural sweeteners.
Sugar alcohols like sorbitol and maltitol have been linked to digestive issues, and alternative sweeteners like stevia are quickly replacing them on the market. The desire for natural sweeteners, particularly stevia, has been sparked by clean labels. Food and beverage businesses have responded by employing stevia as a natural clean-labeled sweetener through innovation and product introductions.

Increasing Sugar Taxes to Provide Opportunities for the Global Stevia Market
Many governments are raising sugar taxes to encourage people to consume less sugar. Obesity is a critical public health problem that increases the risk of chronic diseases like cardiovascular disease, type 2 diabetes, and some malignancies. Diabetes affects around 415 million persons worldwide, estimated to rise to 642 million by 2040. As a result, stevia is in higher demand among food and beverage manufacturers. Stevia stands out among sugar alternatives because it is prized for what it does not do: add calories. It contains almost few calories and has a glycaemic index of 0, making it suitable for people with diabetes. It has been proven safe for use in most food categories in most developed countries.

The UK government declared in 2016 that it would impose a sugar tax on the soft drink sector. Soft drink firms in the United Kingdom will have to pay a fee if their drinks contain more than 5% added sugar, according to the updated tax policy. Pure fruit juices and beverages with a high milk content will be exempt from the fee. Furthermore, additional nations worldwide are concerned about sugar consumption, and the number of countries enacting high sugar levies are likely to increase dramatically during the projection period, creating enormous opportunity for the global stevia market.

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Regional Insights
The global stevia market is segmented by region into North America, Europe, Asia-Pacific, South America, the Middle East, and Africa.

Asia-Pacific is the dominant region. It is expected to grow at a CAGR of 10.1% during the forecast period. China is one of the world's significant producers of stevia sweeteners and one of the world's largest end-user markets, thanks to its massive and rapidly developing end-user sectors. The rapid rise of end-user businesses, such as functional beverages and meals, glazed fruits, teas, juice beverages, and medications, has fueled this explosive growth. Compared to other HIS, Chinese customers have a greater affinity for natural products, resulting in a higher preference for stevia sweeteners. Strict restrictions on the use and production of some artificial HIS, including saccharin and cyclamate, also help drive the stevia business forward.

Europe is the second-largest region. It is estimated to reach USD 355 million by 2030 at a CAGR of 9.5%. The market's major competitors have been investing heavily in research and development, which has aided in the expansion of stevia production in the country. For example, in June 2018, c-Lecta, a German biotechnology company, developed a new process based on the enzymatic treatment of sweetener precursors, allowing them to be converted into a better-tasting sweetener in collaboration with an ingredient supplier to help expand the production of stevia, a new plant-based sweetener. Such advancements have a substantial impact on the growth of the stevia market. 

The Middle East and Africa also witnessed a significant CAGR during the forecast period. Over the past few years, increasing awareness among consumers regarding the health benefits of low-calorie consumables has been a powerful catalyst for the growth of the stevia market in South Africa. Therefore, stevia is poised to emerge as a popular natural sweetener among consumers looking for healthier alternatives to sweeten their food and beverages. This factor is expected to present numerous growth opportunities to stevia manufacturers in the country.

Key Highlights

  • The global stevia market was valued at USD 650 million in 2021, and it is projected to reach USD 1400 million by 2030, registering a CAGR of 8.9% during the forecast period (2022-2030).
  • By form, the global stevia market is segmented into powder, liquid, and leaf. The powder stevia is the dominant segment. It is estimated to grow at a CAGR of 8.7% during the forecast period. The powdered form of stevia has the most significant market share, owing to its widespread availability, convenience of usage, and ability to be incorporated into various food-based applications. fiber, and sold in bulk or packets. It's also the stevia that's been processed the most.
  • By application, the global stevia market is segmented into bakery, dairy food products, beverages, dietary supplements, confectionery, and other applications. The beverage segment is the dominant market. It is estimated to grow at a CAGR of 9.8% during the forecast period. Stevia's quick adoption in the beverage industry is a testament to its numerous advantages. Stevia is a sugar substitute and flavoring component that is organically derived, zero-calorie, tooth-friendly, non-fermenting, highly soluble, heat-stable, photo (light)-stable, and shelf-stable. Developers have been tasked with maintaining the sweet taste of the beverages that consumers have become accustomed to while reducing the sugar content of the products by incorporating sugar replacement add-ons, such as stevia, as demand for sugar and calorie-contained juice drinks has continued to decline in countries such as the United States over the past few years.

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Competitive Analysis

  • Cargill Incorporated
  • Tate & Lyle
  • Archer Daniels Midland Company
  • Glg Life Tech Corp
  • Morita Kagaku Kogyo Co. Ltd
  • Guilin Layn Natural Ingredients Corp
  • S&W Seed Company
  • Ingredion Inc
  • The Real Stevia Company AB
  • Arboreal Stevia
  • Sunwin Stevia International Inc
  • Biolotus Technology Lasa Inc.

Global Stevia Market: Segmentation

By Form

  • Powder
  • Liquid
  • Leaf

By Application

  • Bakery
  • Dairy Food Products
  • Beverages
  • Dietary Supplements
  • Confectionery
  • Other Applications

By Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa


1          Introduction
1.1       Market Definition
1.2       Market Scope
2          Research Methodology
2.1       Primary Research
2.2       Research Methodology
2.3       Assumptions & Exclusions
2.4       Secondary Data Sources
3          Executive Summary
4          Market Overview
4.1       Report Segmentation & Scope
4.2       Value Chain Analysis: Stevia Market
4.2.1   Vendor Matrix
4.3       Key Market Trends
4.3.1   Drivers
4.3.2   Restraints
4.3.3   Opportunities
4.4       Porter’s Five Forces Analysis
4.4.1   Bargaining Power of Suppliers
4.4.2   Bargaining Power of Buyers
4.4.3   Threat of Substitution
4.4.4   Threat of New Entrants
4.4.5   Competitive Rivalry
4.5       Environment & Regulatory Landscape
4.6       Forecast Factors & Relevance of Impact
4.7       Macro-Economic & Geopolitical Scenario
4.8       Parent Market Overview
4.9       Technology Landscape
4.10    Market Share Analysis
4.11    Potential Venture Analysis
4.12    Regional Price Trends
4.13    Raw Material Trends
4.14    Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
4.15    COVID-19 Impact Analysis
5          Extract Type Overview
5.1       Introduction
5.1.1   Market Size & Forecast (Value & Volume)
5.2       Leaf
5.2.1   Market Size & Forecast (Value & Volume)
5.3       Powdered
5.3.1   Market Size & Forecast (Value & Volume)
5.4       Liquid
5.4.1   Market Size & Forecast (Value & Volume)
6          Nature Overview
6.1       Introduction
6.1.1   Market Size & Forecast (Value & Volume)
6.2       Organic
6.2.1   Market Size & Forecast (Value & Volume)
6.3       Inorganic
6.3.1   Market Size & Forecast (Value & Volume)
7          Application Overview
7.1       Introduction
7.1.1   Market Size & Forecast (Value & Volume)
7.2       Dairy Food Products
7.2.1   Market Size & Forecast (Value & Volume)
7.2.2   Ice cream            Market Size & Forecast (Value & Volume)
7.2.3   Yogurt            Market Size & Forecast (Value & Volume)
7.2.4   Flavoured Milk            Market Size & Forecast (Value & Volume)
7.3       Bakery Products
7.3.1   Market Size & Forecast (Value & Volume)
7.3.2   Breads & Rolls            Market Size & Forecast (Value & Volume)
7.3.3   Biscuits & Cookies            Market Size & Forecast (Value & Volume)
7.3.4   Cakes & Pastries            Market Size & Forecast (Value & Volume)
7.3.5   Other Bakery Products            Market Size & Forecast (Value & Volume)
7.4       Beverages
7.4.1   Market Size & Forecast (Value & Volume)
7.4.2   Energy Drinks            Market Size & Forecast (Value & Volume)
7.4.3   Hot Drinks            Market Size & Forecast (Value & Volume)
7.4.4   Soft Drinks            Market Size & Forecast (Value & Volume)
7.4.5   Flavoured Drinks            Market Size & Forecast (Value & Volume)
7.4.6   Natural Sweeter Water            Market Size & Forecast (Value & Volume)
7.5       Packaged Food Products
7.5.1   Market Size & Forecast (Value & Volume)
7.5.2   Pickles            Market Size & Forecast (Value & Volume)
7.5.3   Jam            Market Size & Forecast (Value & Volume)
7.5.4   Sauce            Market Size & Forecast (Value & Volume)
7.5.5   Chilled food products            Market Size & Forecast (Value & Volume)
7.6       Frozen Foods
7.6.1   Market Size & Forecast (Value & Volume)
7.7       Pharmaceuticals
7.7.1   Market Size & Forecast (Value & Volume)
7.8       Confectionary Products
7.8.1   Market Size & Forecast (Value & Volume)
7.9       Table Top Sweeteners
7.9.1   Market Size & Forecast (Value & Volume)
7.10    Others
7.10.1 Market Size & Forecast (Value & Volume)
8          Regional Overview
8.1      Introduction
8.1.1   Market Size & Forecast (Value & Volume)
8.2      North America
8.2.1   Economic Overview
8.2.2   Market Scenario
8.2.3   The U.S.            By Extract Type            By Nature            By Application
8.2.4   Canada            By Extract Type            By Nature            By Application
8.2.5   Mexico            By Extract Type            By Nature            By Application
8.3      South and Central America & Caribbean
8.3.1   Economic Overview
8.3.2   Market Scenario
8.3.3   Brazil            By Extract Type            By Nature            By Application
8.3.4   Argentina            By Extract Type            By Nature            By Application
8.3.5   Columbia            By Extract Type            By Nature            By Application
8.3.6   Rest of South and Central America & Caribbean            By Extract Type            By Nature            By Application
8.4      Europe
8.4.1   Economic Overview
8.4.2   Market Scenario
8.4.3   Germany            By Extract Type            By Nature            By Application
8.4.4   France            By Extract Type            By Nature            By Application
8.4.5   The U.K.            By Extract Type            By Nature            By Application
8.4.6   Italy            By Extract Type            By Nature            By Application
8.4.7   The Rest of Europe            By Extract Type            By Nature            By Application
8.5      Asia-Pacific (APAC)
8.5.1   Economic Overview
8.5.2   Market Scenario
8.5.3   China            By Extract Type            By Nature            By Application
8.5.4   Japan            By Extract Type            By Nature            By Application
8.5.5   India            By Extract Type            By Nature            By Application
8.5.6   Australia            By Extract Type            By Nature            By Application
8.5.7   South Korea            By Extract Type            By Nature            By Application
8.5.8   Rest of APAC            By Extract Type            By Nature            By Application
8.6      The Middle East
8.6.1   Economic Overview
8.6.2   Market Scenario
8.6.3   Saudi Arabia            By Extract Type            By Nature            By Application
8.6.4   The UAE            By Extract Type            By Nature            By Application
8.6.5   Qatar            By Extract Type            By Nature            By Application
8.6.6   Oman            By Extract Type            By Nature            By Application
8.6.7   Turkey            By Extract Type            By Nature            By Application
8.6.8   The Rest of the Middle East            By Extract Type            By Nature            By Application
8.7      Africa
8.7.1   Economic Overview
8.7.2   Market Scenario
8.7.3   Nigeria            By Extract Type            By Nature            By Application
8.7.4   South Africa            By Extract Type            By Nature            By Application
8.7.5   The Rest of Africa            By Extract Type            By Nature            By Application
9          Competitive Landscape — Manufacturers & Suppliers
9.1      Competition Dashboard
9.2      Industry Structure
9.3      Cargill, Incorporated
9.3.1   Business Overview
9.3.2   Financial Performance
9.3.3   Recent Developments
9.3.4   Product Portfolio
9.4      Ingredion Incorporated
9.4.1   Business Overview
9.4.2   Financial Performance
9.4.3   Recent Developments
9.4.4   Product Portfolio
9.5      PureCircle Ltd.
9.5.1   Business Overview
9.5.2   Financial Performance
9.5.3   Recent Developments
9.5.4   Product Portfolio
9.6      DSM
9.6.1   Business Overview
9.6.2   Financial Performance
9.6.3   Recent Developments
9.6.4   Product Portfolio
9.7      Tate and Lyle Plc
9.7.1   Business Overview
9.7.2   Financial Performance
9.7.3   Recent Developments
9.7.4   Product Portfolio
9.8      Sunwin Stevia International, Inc
9.8.1   Business Overview
9.8.2   Financial Performance
9.8.3   Recent Developments
9.8.4   Product Portfolio
9.9      Pepsico Inc
9.9.1   Business Overview
9.9.2   Financial Performance
9.9.3   Recent Developments
9.9.4   Product Portfolio
9.10    GLG Life Tech Corp
9.10.1 Business Overview
9.10.2 Financial Performance
9.10.3 Recent Developments
9.10.4 Product Portfolio
9.11    Evolva Holding SA
9.11.1 Business Overview
9.11.2 Financial Performance
9.11.3 Recent Developments
9.11.4 Product Portfolio
9.12    Pure Circle Limited
9.12.1 Business Overview
9.12.2 Financial Performance
9.12.3 Recent Developments
9.12.4 Product Portfolio
9.13    Qufu Xiangzhou Stevia
9.13.1 Business Overview
9.13.2 Financial Performance
9.13.3 Recent Developments
9.13.4 Product Portfolio
9.14    Zhucheng Haotian
9.14.1 Business Overview
9.14.2 Financial Performance
9.14.3 Recent Developments
9.14.4 Product Portfolio
10        Conclusion & Recommendation
11        Acronyms & Abbreviations

Table of Content and Figure @

Market News

  • May 2022 - Cargill's House of Chocolate provides a collaborative, end-to-end customer experience as customers' needs for creativity, innovation, and speed-to-market rise in today's dynamic chocolate market. A state-of-the-art chocolate experience center, a unique pilot plant with sensory expertise, and a creative workspace for the company's European R&D team of chocolate engineers are among the features of this 6200-square meter complex, which is being built alongside the company's existing chocolate production plant.
  • March 2022 - Cargill, the global food and agriculture company, has agreed to purchase 24.5 percent of the shares of Salmones Multi export SASA (Multi X), a subsidiary of Multi export Foods SASA, according to José Ramón Gutiérrez, Chairman of Multi export Foods S.A., a pioneer and leader in salmon farming in Chile. As a result, Mitsui, a Multi X stakeholder since 2015, would boost its stake to 24.5 percent from 1.13 percent. Multi export Foods SASA holds 51 percent of the total shares in Multi X. The acquisition is contingent on regulatory approvals and the parties' agreement to certain conditions.

News Media

Stevia- The Low-Calorie Natural Sweetener

Premium Sugar Free Chocolate Market was valued at USD 810.3 million in 2018, at a CAGR of 6.7%

All You Need to Know About Stevia

Approvals Encouraging the Novel Formulations of High-Intensity Sweeteners

Have a Look at the Related Research Report

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Dietary Supplements Market: Information by Form (Soft Gel/ Pills, Liquid), Application (Sports Nutrition, Weight Loss), Ingredient, End-Use, Sales Channel, and Region — Forecast till 2029

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