Global Food and Beverage Stevia Market 2024–2033

Reports Description

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 reach USD 223 Million in 2022 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.

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• Stevia, an extract from the stevia plant's leaves, is essentially a sweetener and sugar alternative. Due to its several benefits, including its significant protein ingredient and low-calorie content, it occupies a considerable position within the sweetener category. Stevia is widely used in the food and beverage industry as a result of growing public knowledge of its health benefits. Rebaudioside A and stevioside, two of the most potent and significant substances found in stevia, are largely to blame for the plant's sweetness. Many Latin American nations, including Brazil and others, have used stevia. It is 200 times sweeter than sugar, an all-natural sweetener with no calories that are used to treat health issues.
• Furthermore, due to its low glycemic index and the fact that it has no effect on blood sugar levels, it is ideally suited for diabetic people as well. Up to 2030, it is projected that increasing disposable income, changing lifestyles in developing nations, and preserving good health would drive the expansion of the worldwide food and beverage stevia industry.
• Over the course of the forecast period, a change in lifestyle and rising consumption of low-calorie foods are anticipated to propel the growth of the global food & beverage stevia market. In addition, between 2022 and 2030, it is anticipated that an increase in the number of obese and diabetic patients worldwide would support the expansion of the global food & beverage stevia market. In addition, it is anticipated that by 2030, shifting governmental policies and a focus on stevia promotion by governments around the world would further propel the market for stevia-sweetened foods and beverages.
• With the beginning of the COVID-19 pandemic, the food and beverage stevia market experienced a sharp increase as consumers sought ways to improve their general health and wellness, which led to an increase in demand for less sugary and immunity-boosting goods. Most health-conscious consumers turned to low-calorie or sugar-free cuisine as a result of the COVID-19 outbreak. Therefore, manufacturers and product formulators have been compelled to use stevia as a result of rising health consciousness, high demand for sugar-reduction solutions, and demand for organic foods among the general population.

Report Scope

The study's focus is on Food and Beverage Stevia market analysis on a global scale, and market sizing includes the income generated by these solutions provided by different market players. In order to support the market projections and growth rates over the anticipated period of 2022-2030, the study additionally monitors important market factors, underlying growth influencers, and significant vendors active in the sector.

The study also examines how COVID-19 has affected the ecology generally. The scope of the study includes market sizing and forecast for segmentation by extract type, form, and geography.

Key Market Dynamics

• An excellent natural sweetener with few calories is stevia. It is widely used in the food and beverage industry. Consumers are switching to healthier lifestyles as a result of the rising prevalence of chronic diseases like diabetes and obesity. As a result, producers are substituting stevia for artificial sugar in dietary supplements, beverages, pet feeds, etc. In the upcoming years, these elements are anticipated to fuel the stevia market's expansion.
• Alkaloids, oligosaccharides, flavonoids, xanthophyll, hydroxyl-cinnamic acids, chlorophylls, free sugars, trace elements, lipids, and amino acids are all present in stevia. These make it possible to produce stevia-based foods that are low in calories, are healthful, and are known to help manage several medical conditions. Going forward, the market is anticipated to benefit from the availability of stevia extract in a variety of forms, including powder, liquid, and leaves, as well as the rising use of these components in beverages, bakery goods, confections, dairy goods, and cereal-based items, among other things.
• Additionally, because more consumers are favouring plant-based goods, demand for stevia is anticipated to expand. A rising number of innovative stevia-based products that are affordable and find use in a broad range of food & beverage applications, as well as the optimistic view for stevia as a natural sweetener owing to surging demand for dietary food, are also driving the market. This is leading to a rise in use among many food and beverage companies.
• In addition, it is anticipated that factors, including government initiatives and expanding application-related developments, will support market expansion. However, the stevia industry's expansion is significantly hampered by the stevia leaf's price fluctuation. Nevertheless, seasonal variations in crop output have an impact on the availability of Stevia leaves. Stevia demand is anticipated to increase along with supply shortages and price increases during the projection period as a result of the decline in stevia farming.

Powder Segment to Dominate the Food and Beverage Stevia Market

• In middle- and high-income nations, stevia extract is used as a non-nutritive sweetener substitute in beverages, desserts, and other food products. With the introduction of new goods to the market, the popularity of stevia extract among health-conscious customers raised sales for this market category by about 60%. The use of stevia powder extract for health reasons, such as lowering blood pressure, managing diabetes, and controlling weight, is anticipated to fuel the segment's revenue growth.
• During the anticipated period, the liquid extract segment is projected to experience moderate revenue growth. People are generally consuming fewer processed goods, and the liquid extract is especially well-liked among those consumers because it is less processed.
• The leaves segment's sales are growing as consumers choose to consume low-calorie, minimally processed foods and live healthier lifestyles. The demand for stevia leaves has expanded as a result of its use in food processing and as a garnish for foods such as ice cream, sauces, sweets, yoghurts, soft drinks, juice, and bread.

Competitive Landscape

To accommodate the growing consumer expectations, major companies are releasing a variety of new products. To accommodate the rising demand for stevia-based goods, coffee brighteners and sweeteners are being introduced. The sales of nutritional supplements that are low in calories, and sugar and promote immunity have also increased as a result of COVID-19. In turn, during the anticipated period, this is anticipated to fuel the growth of the food and beverage stevia market.

• 2022: EverSweet and ClearFlo were combined to create a new technology, according to Cargill, that enhances mouthfeel, lessens bitterness, and lingers. The combination increases stability, solubility, and dissolving speed while introducing natural flavour.

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America