Global Stevia Market Overview
Stevia Market Size was valued at USD 796.04 million in 2022. The stevia market industry is projected to grow from USD 868.8 million in 2023 to USD 1,714.27 million by 2030, exhibiting a compound annual growth rate (CAGR) of 10.20% during the forecast period (2023 - 2030). The increased levying of taxes by government bodies on sugar-sweetened beverages along with the growing number of people suffering from diabetes and obesity are driving the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Stevia Market Trends
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Growing number of people suffering from diabetes and obesity
The curbing population coupled with the large number of people suffering from diabetes as well as obesity coupled with the increased inclination towards plant-based sweeteners such as stevia owing to the various benefits provided by it such as weight management, diabetes control, reduces risk of pancreatic cancer, helps reduce blood pressure and many more are likely to positively influence its market growth. As a part of this, according to Diabetes Research Institute, in 2018, 10.5% of Americans, or 34.2 million people, have diabetes. 10.2% of the population, or around 26.8 million people, were projected to have diabetes. There are about 7.3 million diabetics who have not yet received a diagnosis. In addition, there were 1.5 million new cases of diabetes identified in adults in the United States. This includes over 210,000 kids and teenagers under the age of 20
Apart from this, the increasing initiatives taken by various government bodies operating across various regions to control obesity are likely to propel its market growth. For instance, by improving nutrition advice in local agencies and community sites and looking into a food hub infrastructure, the Alabama Cooperation System's Alabama Preventing and Reducing Obesity program aids Alabamians in Long-Term Health by expanding access to healthier foods. To connect transportation infrastructure with homes, early care and education programs, schools, workplaces, parks, and recreational facilities, they are also developing master plans and land use interventions. The Arkansas Delta Region Obesity Programme also works with partners to connect sidewalks, paths, bicycle routes, and public transit with homes, early care and education facilities, schools, workplaces, parks, and recreation centers. Additionally, the program collaborates with food vendors, distributors, and producers on the purchase and sale of healthier. In addition, the program is creating healthy eating guidelines in significant institutions. Georgia is concentrating on places like schools, food-selling areas, health departments, churches, and parks where kids and families regularly congregate in the counties of Calhoun, Clay, Dooly, Stewart, and Taliaferro. Georgia is also focusing on logistics, food distribution, and media and social media awareness campaigns. Activities are carried out in local communities, at the county level, and at the regional/state level for a more major systemic change. Hence, the growing number of people suffering from diabetes coupled with the increasing initiatives taken by government organizations operating across various regions to promote healthier lifestyles for people suffering from obesity and diabetes is likely to drive its market growth.
Stevia Market Segment Insights
Stevia Type Insights
Based on type, the Stevia Market Segmentation includes liquid extract, powder extract, and stevia extract. The powder extract segment held the majority share in 2022 contributing to around a market value of USD 205.3 million of Stevia Market revenue. The liquid extract segment is poised to create an absolute dollar opportunity worth USD 213.11 million by 2030 over 2023. It is poised to be valued at 2.04 times its value by 2030 over its existing market value in 2022. The liquid extract of stevia is available mainly in two forms that mainly includes dark liquid extracts and clear liquid extracts. The dark liquid extract is concentrated from that is made up of dry leaves of stevia in a base of alcohol and water. Clear liquid extracts of stevia are mainly a powdered form of Steviosides that is dissolved into the water along with glycerin or water. Both the dark liquid extract and clear liquid extract are mostly used for the production of beverages as sweetening agents.
March 2022: Cargill Launches EverSweet + ClearFlo Stevia Platform. The platform combined the company’s leading sweetener with other natural flavors. This combination is offering flavor modification, improved solubility, stability in formulations, and faster dissolution. EverSweet + ClearFlo can be used in any food or beverage application that requires a higher concentration of stevia, including coffee, dairy beverage, energy drinks, and so on.
July 2021: Tereos and Firmenich collaborate on the stevia extracts sourcing agreement. The move will allow the company to offer its customers traceable stevia-based sweetening solutions globally. Consumers are paying closer attention to their sugar intake, and public health policies encourage the consumption of nutritionally improved products. When buying sweet goods, 55 percent of European consumers scrutinize the sugar content.
Figure 2: Stevia Market, By Type, 2022 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Stevia Nature Insights
Based on Nature, the Stevia Market Segmentation includes organic and regular. The regular segment held the majority share in 2022 contributing to around ~80-85% of the Stevia Market revenue. The regular segment is poised to create an absolute dollar opportunity worth USD 788.36 million by 2030 over 2023. It is poised to be valued at 2.18 times its value by 2030 over its existing market value in 2022. The ease of availability of regular stevia is the major factor owing to which it accounted for the leading share in 2021. The regular stevia available in the market is comprised of comparatively low prices as compared with organic stevia. Regular stevia is produced by using various chemical-based fertilizers to increase the yield in a short period and prevent the incidence of various diseases such as pale coloration of leaves. The regular segment is expected to grow at a market CAGR of 10.38%.
Stevia Application Insights
Based on Application, the Stevia Market Segmentation includes residential/retail and commercial. The commercial segment is further divided into dairy and frozen desserts, bakery and confectionery, sweet and savory snacks, tabletop sweeteners, packaged food products, beverages, dietary supplements, and others. The commercial segment held the majority share in 2022 contributing to around ~75-80% of the Stevia Market revenue. Dairy and frozen desserts, bakery and confectionery, sweet and savory snacks, tabletop sweeteners, packaged food products, dietary supplements, and others are the further sub-segments among which dairy and frozen desserts accounted for the share of 5.38% in 2022, bakery and confectionery held the share of 9.55% in 2021. Pharmaceuticals are considered under the other subsegment, and it is likely to grow with a CAGR of 8.33% by 2030, as stevia is also used for the preparation of various drugs and supplements. The beverage segment is poised to register the highest CAGR of 9.47% and others are poised to register the least CAGR of 8.33% in the forthcoming years. Stevia is also being used as a sweetening agent during the production of various beverages, and RTE (Ready-To-Eat) food products, along with processed meat, seafood, vegetables, and fruits. The commercialization of stevia has observed robust growth in the recent few years, owing to surging consumers' inclination towards procurement of reduced sugar products to sustain a healthier lifestyle. Apart from the diabetic and obese population, stevia-based products are also gaining more traction among fitness enthusiasts and athletes which is further bolstering the demand for stevia in the nutraceuticals industry for the production of dietary and health supplements. These are the major functions creating growth avenues for stevia in various industries and are likely to grow over the forthcoming years. The commercial segment is expected to grow at a market CAGR of 10.56%.
Stevia Distribution Channel Insights
Based on the distribution channel, the global stevia industry market data has been categorized as offline and online. The offline segment accounts for the largest market share of ~70 to 75% in 2022. It is poised to be valued at 2.16 times its value by 2030 over its existing market value in 2022. The offline segment means store-based retailing that consists of supermarkets and hypermarkets, convenience stores, specialty stores, and departmental stores among others. Supermarkets and hypermarkets are the type of retail stores that provide several products under a single roof along with several discount offers. It further includes shops, outlets, and other stores that offer various products from where the consumers can directly buy their products of preference. Convenience stores provide the products to the customers the nearby locations from their residents. The specialty store offers specific products to its patrons, which saves time for the consumers. The department stores have various category-wise product offerings that aid the shopping experience of the consumers. The offline segment is expected to register a growth rate of 10.27% during 2023-2030.
July 2020: Ingredion Incorporated announced the completion of its acquisition of PureCircle Limited, the world’s leading producer and innovator of plant-based stevia sweeteners and flavors for the food and beverage industry. Acquisition positions Ingredion to deliver plant-based, low-calorie sugar alternatives addressing a global megatrend in the food and beverage industry to reduce sugar in consumers’ diets.
August 2022: Tate & Lyle expands its sustainable stevia program with Earthwatch. This program supports farmers to implement best practices identified in its 2019 stevia life-cycle analysis and verified in its 2021 on-farm pilot. The sustainability program for stevia, a plant-derived and in-demand low-calorie sweetener, by enrolling new farmers in China.
Stevia Regional Insights
By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific stevia market has held the largest market share among the region in the Stevia Market. The region is the highest populated nation across the globe and has several growing economies at a rapid pace. China stevia market is the largest stevia producer in the region and is anticipated to grow over the forthcoming years. In Asia Pacific, the market for stevia is likely to observe steady growth in revenues during the forthcoming years. The increasing awareness regarding the intake of regular sugar along with associated health problems are the major factors considered as the growth propellors for the stevia market in the Asia Pacific. Moreover, the companies operating in the Asia Pacific are focusing on environmental sustainability, and acquisition strategies for the development. For instance, in December 2020, Tate & Lyle PLC, one of the major providers of ingredients and solutions for food and beverages, announced the acquisitions of a Beijing (China)-based firm Sweet Green Fields Co., Ltd. (SGF). This strategic step undertaken by the company has enhanced the ingredient portfolio of Tate & Lyle PLC. Moreover, this move of the company extended its reach in the Asian market.
The major countries studied are the US, Canada, Mexico, the UK, France, Germany, Italy, Spain, China, India, Japan, Australia and New Zealand, South America, the Middle East, and Africa.
Figure 3: STEVIA MARKET SHARE BY REGION, 2022 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The US, Canada, and Mexico are the major markets of the North America stevia market, and the Canada stevia market and the US stevia market have a very high per capita income among the population. The stevia market in the region is mainly driven by surging applications in various sectors. At present, the increasing demand for stevia for the production of soft drinks followed by dairy and sports nutrition products. Moreover, the stevia market in North America is also being supported by the various regulations associated with the taxation policies on sugary drinks along with increasing awareness regarding the negative health impacts associated with the consumption of conventional sugar-based products. Moreover, the region is also observing lucrative prospects for the stevia market owing to increasing product innovation by the manufacturers operating in the North American stevia market.
Europe stevia market is likely to uphold a major share in the market for stevia, this is mainly due to the presence of a few of the key players having operations across the globe in the region followed by several strategies for the growth and development adopted by them to maintain their grip in the regional market. Furthermore, stevia has gained more popularity in the European market including the UK stevia market, France stevia market, Italy stevia market, etc. as has got approval from the European Union, owing to which the consumers have shifted towards the procurement of stevia-based products. Apart from that, the surging incidences of diabetes and obesity among the population of all age groups is the major factor that is propelling the demand for stevia-based products in the region.
Stevia Key Market Players & Competitive Insights
The established companies are focusing on various strategies including entering into collaboration and agreement with other key stakeholders, mergers & acquisitions, and expansion activities apart from launching programs that are unique to the players in the Stevia Market. Companies are increasingly focusing on sustainability parameters in the overall operation of stevia production and distribution. In addition, the merger & acquisition strategy has been very predominant in the lineage of various key companies in the Stevia Market as it helps in augmenting the production and research & development capabilities along with the expansion to different markets which are very new and emerging for the company’s entry.
One of the key business strategies deployed by the stevia industry to gain a competitive advantage among the competitors is customer-driven innovation that helps in launching new products that can meet the need for a sweetener that can support the weightloss goals without compromising on the quality of the sweetens and compatible with the final product texture.
Ingredion Incorporated (Ingredion) is a renowned supplier of ingredient solutions for brewing, food, beverage, animal nutrition, and other industrial ingredients. The current consumer base of the company amounts to approximately 19,000 B2B clientele present across 120 countries. Ingredion is currently serving over 60 different sectors including pharma, biodegradable plastics, paper & corrugating, and biomaterial solutions. The company’s operations sites are located in 26 countries with 32 strong R&D centers and labs headquartered in Bridgewater, New Jersey. R&D has centers for product application technology that plays a vital role in the company’s new product development and innovation.
Stevia products, sweetener products, co-products, and others are the broad categories of the product portfolio of the company. The products are distributed to the end clients through direct sales channels to manufacturers and distributors along with contract trucks as an additional sales channel that helps in reaching the domestic clientele network in North America. Stevia is part of the sweetener products category of the business and is produced through production facilities situated in the UK, Germany, and Pakistan. Over a decade, Ingredion has been the recipient of Fortune 500 companies till 2021. PureCircle which has been acquired by Ingredion is the developer of stevia to provide stevia sweeteners like bioconversion, Reb M from stevia leaf extract, and fermentation technologies. These innovations assist the company to drive cost-efficiency and sustainability that create a path for reducing sugar with quality, health-conscious ingredients.
Cargill Incorporated (Cargill) is one of the largest conglomerates involved in the manufacturing of various agricultural, food, and industrial products and service providers of financial products and risk management. The company’s operational segment includes animal nutrition, food ingredients, protein, branded foods, and bio-industrials, and has manufacturing facilities in 70 countries equipped with the latest technology and state-of-the-art laboratories across the world. Cargill also serves the manufacturers of personal care products, pharmaceuticals, papers, and corrugated boxes. The consumer base of the company is spread across 125 countries. The company has a wide range of sweetener products including glucose-fructose syrups, dextrose, and glucose syrups.
Owing to the company’s superior quality and performance in the respective categories has received various awards including Burger King and Restaurant Services, Inc.’s North America Supplier of the Year Award and Sustainability Award; US Foods’ Grocery Supplier of the Year Award; Jollibee Food’s Partner of Joy Bronze Award, Special Award for Quality, and Special Award for Innovation; Convenience Meal Product of the Year Award for its ALDI brand; and Yum’s U.S. Supplier of the Year Award & Diversity and Inclusion Award. The company has research & development centers present across 200 countries including special R&D facilities like Animal Nutrition Innovation Centers, Asia Innovation Center, Biotechnology Development Center, Cargill ONE Innovation Center, European Food Innovation Center, Latin America Innovation Center, Minneapolis R&D and Innovation Centers, and Wichita Innovation Center. Cargill & DSM had established a joint venture that is Avansya, which had introduced the zero-calorie, tasty, cost-effective sweeteners in the market.
Key Companies in the Stevia market include
- Cargill, Incorporated
- Ingredion Incorporated
- Tate & Lyle PLC.
- Archer-Daniels-Midland Company
- Tereos
- GLG Life Tech Corp.
- NOW Foods
- Fooding Group Limited
- HOWRAIN
- Sunwin Stevia International Inc.
Stevia Industry Development
July 2021: Tereos and Firmenich collaborate on the stevia extracts sourcing agreement. The move will allow the company to offer its customers traceable stevia-based sweetening solutions globally. Consumers are paying closer attention to their sugar intake, and public health policies encourage the consumption of nutritionally improved products. When buying sweet goods, 55 percent of European consumers scrutinize the sugar content.
December 2020: Tate & Lyle PLC acquired Sweet Green Fields (SGF), a leading global stevia solutions business. The acquisition of SGF brings a broad portfolio of stevia products and a fully integrated stevia supply chain to Tate & Lyle including leaf sourcing, leaf varietal development, established agricultural programs, and cost-efficient manufacturing. It strengthens Tate & Lyle’s position as a leading provider of innovative sweetener solutions with the capabilities to create foods and beverages that are lower in sugar and calories and with cleaner labels for customers across the world. The acquisition also extends Tate & Lyle’s presence in the faster-growing Asia Pacific region with dedicated stevia production and research and development facilities located in Anji, China.
October 2019: Tate & Lyle launches a new program to support the sustainability of stevia. It enables stevia grows in China to lower their environmental impact and gain greater economic benefit from the production of this in-demand no-calorie sweetener. The study identified a significant opportunity to drive environmental improvements in stevia production and support the Company’s suppliers in Dongtai, one of the first areas in China where stevia was cultivated around 40 years ago and one of the main seedling supply areas in the country.
Stevia Market Segmentation
Stevia Type Outlook
- Liquid extract
- Powder extract
- Stevia Leaves
Stevia Nature Outlook
Stevia Application Outlook
- Residential/Retail
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Commercial
- Dairy and Frozen Desserts
- Bakery and Confectionery
- Sweet and Savory Snacks
- Tabletop Sweeteners
- Packaged Food Products
- Beverages
- Dietary Supplements
- Others
Stevia Distribution Channel Outlook
Stevia Regional Outlook
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North America
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Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
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Asia-Pacific
- China
- Japan
- India
- Australia and New Zealand
- Rest of Asia-Pacific
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Rest of the World
- South America
- The Middle East
- Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD 796.04 Million |
| Market Size 2023 |
USD 868.8 Million |
| Market Size 2030 |
USD 1,714.27 Million |
| Compound Annual Growth Rate (CAGR) |
6.14 % (2023-2030) |
| Base Year |
2022 |
| Forecast Period |
2023-2030 |
| Historical Data |
2019-2021 |
| Forecast Units |
Value (USD Million) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Type, Nature, Application, Distribution Channel, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, R, and the Rest of the World |
| Countries Covered |
The U.S, Canada, Mexico, the UK, France, Germany, Italy, Spain, China, India, Japan, Australia and New Zealand, South America, the Middle East, and Africa |
| Key Companies Profiled |
Cargill, Incorporated (US), Ingredion Incorporated (US), Tate & Lyle PLC. (UK), Archer-Daniels-Midland Company (ADM) (US), Tereos (France), GLG LIFE TECH CORP. (Canada), NOW Foods (US), Fooding Group Limited (China), HOWRAIN (China), and Sunwin Stevia International Inc (China) |
| Key Market Opportunities |
Wide usage of stevia in various applicationGrowing expansion policies adopted by key players |
| Key Market Dynamics |
Growing number of people suffering from diabetes and obesityIncreased levying of taxes by government bodies on sugar-sweetened beveragesGrowing innovations by key players |
Frequently Asked Questions (FAQ) :
The stevia market is valued at USD 796.04 million in 2022
The US Stevia market is valued at 153.56 million in 2022
The stevia market is expected to grow at a CAGR of 10.20% during the forecast period
Asia-Pacific held the largest share market in the stevia market
The key players include Cargill Incorporated, Ingredion Incorporated, Tate & Lyle PLC, Archer-Daniels-Midland Company, Tereos, and GLG Life Tech Corp.
Powder extract is the leading segment in the stevia market in 2022
The regular segment accounted for the largest market share in the stevia market in 2022
