Stevia is believed to offer multiple health benefits. For instance, it can manage diabetes, help in weight management, control blood pressure, and regulate sugar levels.
More and more people are getting familiar with the striking health benefits of stevia. It has led to the growth of the global stevia market. That is why stevia is nowadays commercially produced throughout the world.
Stevia also contributes as an asteroid. It has the power to combat the growth of bacteria for which it has heavy uses in various topical applications for various skin conditions, including dermatitis and eczema.
Furthermore, more and more health-conscious people are opting for low-calorie sweeteners, such as stevia. It is a major aspect to escalate the sale of stevia throughout the globe.
Escalating disposable incomes, changing lifestyles, and consciousness towards minimizing sugar consumption are some of the influential factors to fuel the growth of the global stevia market.
Global Stevia Market: Segmentation
- The global stevia market is segmented in terms of end-use, extract type, and region.
- When it comes to the extract type, the stevia market is divided into leaf, liquid, and powder. Among the three segments, powdered stevia holds the largest share in the global stevia market. The reason for the escalated popularity of powdered stevia is its less grainy texture compared to table sugar. Moreover, powdered stevia is available in various customer-friendly packaging formats, including bottles, jars, and sachets. This factor also accounts for increased demand for powdered stevia.
- Based on end-use, the global stevia market is segmented into food products, tabletop sweeteners, beverages, pharmaceuticals, bakery, dietary supplements, confectionery, and so on.
- Among all these options, beverages come as a dominating segment in the global stevia market. It has been possible due to the applications of stevia and stevia-derived products as sweeteners in numerous beverages, including soft drinks, tea, juices, and energy drinks.
- When it is about the region, the worldwide stevia market is classified into Asia Pacific, North America, Middle East & Africa, Latin America, and Europe.
- The Asia Pacific leads the global stevia market. The increased number of health-conscious people contributes to the growth of the stevia market. Nowadays, more and more people are opting for low-calorie food products. Therefore, stevia has become a prominent choice of many.
Stevia: Current Market Structure
- The worldwide stevia market was estimated at US$ 539 Million in the year 2019. The market is anticipated to experience 8.43% of CAGR (compound annual growth rate) throughout the forecast period, from 2020 to 2025.
- The major driving force of the global stevia market’s growth is escalated health consciousness and increased awareness of the goodness of the low-calorie food products for health.
- The increasing count of diabetic and obese patients is pointing towards the escalated demand for stevia, which acts as the best alternative to sugar. The zero-calorie property of stevia accounts for its growing popularity.
- One can sprinkle ground stevia over overcooked meat, vegetables, salads, and cereals. Apart from imparting a sweet taste, stevia also augments the health benefits and flavor of a food item. All these factors are fueling the growth of the global stevia market.