North America Dominated the Food and Beverage Stevia Market in 2021
According to Custom Market Insights (CMI), the Global Food and Beverage Stevia Market size was estimated at USD 200 Million in 2021 and is expected to hit around USD 400 Million by 2030, poised to grow at a compound annual growth rate (CAGR) of 8% from 2022 to 2030.
Our research report offers a 360-degree view of the Food and Beverage Stevia market’s drivers and restraints, coupled with their impact on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Food and Beverage Stevia market.
Food and Beverage Stevia Market: Overview
The natural sweetener stevia can produce the desired sweetness even in modest amounts. It is a zero-calorie or low-calorie sweetener since it has fewer calories than sugar-based sweeteners. Due to uneven calorie intake, obesity, diabetes, and metabolic syndrome have grown to be serious public health issues. Stevia is essential in lowering calories as part of a generally balanced diet and exercises routine to combat these illnesses.
The rising prevalence of diabetes and obesity, the rising demand for natural sweeteners, the growing use of stevia in the beverage sector, the rising number of innovative stevia-based product releases, and the taxes levied on beverages with added sugar are the key drivers of this market’s growth.
Browse the full “Food and Beverage Stevia Market Size, Trends and Insights By Extract Type (Reb A, Reb D, Reb M), By Form (Leaves, Powder, Liquid), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030 “ report at https://www.custommarketinsights.com/report/food-and-beverage-stevia-market/
A major source of worry is the rising incidence of diabetes, which raises the fatality rate. Due to this, many diabetics are choosing food items and substances that may be healthier alternatives. The growing interest in keto diets is a result of the growing health consciousness brought on by rising obesity rates among younger people. Additionally, stevia’s capacity to lessen hunger also helps to lessen food cravings and leads to reduced intake, which helps to control blood sugar levels.
Stevia extracts help in lowering triglycerides and bad cholesterol while boosting good cholesterol levels. Stevia, as a sweetener, does not cause blood sugar levels to rise. One of the key reasons anticipated to fuel the market’s estimated revenue growth is the quick adoption of stevia consumption due to rising worries about managing obesity, diabetes, high blood pressure, and cholesterol.
The taxation of sugar-sweetened drinks (SSBs), also known as sweetened beverages, has decreased demand for sweet food products and prompted customers to switch to natural sweeteners like stevia. Taxing sugar has encouraged consumers to buy food goods with healthy substitutes in order to reduce the intake of sugar and the risk of obesity, diabetes, and these diseases. After taxation, the sugar market suffered; nonetheless, the revenue share for stevia is rising.
The market for Food and Beverage Stevia is segmented into extract type and form. The food and beverage stevia market are divided into three extract types: Reb A, Reb M, and Reb D. The Reb-A sector contributed the biggest percentage of revenue in 2021. Reb-A also referred to as rebaudioside A, is a substance found in stevia extract together with stevioside, which has a sweetness that ranges from 150 to 400 times that of saccharose.
Rebaudioside A is observed to have a strong sweetness, even in natural sweeteners. Long-standing evidence of the economic and dietary potential of this extract comes from the rising demand for natural sweeteners among consumers from South America, Korea, Israel, China, and Japan who are watching their calories. The use of rebaudioside A in food items has expanded since it was approved as Generally Recognized as Safe in the United States. Additionally, stevia’s rising consumer acceptance as a result of its affordable prices is anticipated to fuel this segment’s revenue growth.
Due to a surge in public awareness of issues related to managing obesity, diabetes, and being overweight, the stevia industry in North America has seen increasing revenue growth. The FDA’s approval and stevia extracts’ capacity to lower blood pressure, relax blood vessels, lessen cardiovascular problems, and remove excess sodium from blood are all expected to fuel the food and beverage stevia market’s expected revenue rise.
The Asia-Pacific market is anticipated to have consistent revenue growth over the course of the projected period. Rising consumer knowledge of the importance of limiting sugar intake and managing health issues has become a key element boosting revenue development in these nations.
In order to reduce the environmental impact and to benefit economically from the manufacturing of the calorie-free sweetener stevia in China, Tate & Lyle established a sustainable stevia initiative. With the help of Nanjing Agricultural University (NJAU), this initiative intends to train farmers in the use of contemporary agricultural techniques, as well as to raise their understanding of the responsible use of pesticides, fertilizers, and on-farm composting. The biggest stevia producer in APAC, China, is anticipated to increase demand for stevia-based foods and boost regional market revenue growth.
|Feature of the Report||Details|
|Market Size in 2021||USD 200 Million|
|Projected Market Size in 2030||USD 400 Million|
|Market Size in 2022||USD 223 Million|
|CAGR Growth Rate||8% CAGR|
|Prominent Players||Purecircle Limited, Layn, Qufu Xiangzhou Stevia, Zhucheng Haotian, Sunwin Stevia International, Cargill (Evolva), GLG Life Tech, Morita Kagakau Kogyo, Tate & Lyle, HuZhou LiuYin Biological, Tianjin Jianfeng, Hunan NutraMax, and Others|
|Key Segment||By Extract Type, Form, and Region|
|Report Coverage||Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends|
|Regional Scope||North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America|
|Buying Options||Request tailored purchasing options to fulfil your requirements for research.|
The food and beverage stevia market has a limited competitive landscape, with a small number of major competitors competing worldwide and regionally. Key players are working on product development and strategic alliances to increase their individual product portfolios and establish a solid foothold in the global market.
- 2021: In a pilot production supply arrangement, Ingredion and S&W Seed Company in the U.S. will use S&W’s patented stevia portfolio and production methods to offer PureCircle by Ingredion, which is anticipated to boost revenue growth globally.
- 2020: Ajinomoto Co., Inc. released AJISWEET RA for food producers who offer delicious dishes made without added sugar.
The global Food and Beverage Stevia market is segmented as follows:
By Extract Type
- Reb A
- Reb D
- Reb M
- The U.S.
- The UK
- Rest of Europe
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Rest of Latin America