Steviol Glycoside Market Research Report – Forecast to 2030

Steviol Glycoside Market Research Report, by Type (Stevioside, Dulcoside A, and Others), by End-user (Food, Beverage, Others), and Region - Forecast to 2030

ID: MRFR/CnM/5060-CR | October 2018 | Region: Global | 138 pages

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Market Overview:


Stevia extracted from Stevia leaves is a natural sweetener or additives used in industries like chemical, food, beverage, medicine, pharmaceutical, and others. New product launches like energy drinks and other beverages in the beverage and food industry have generated a surge in demand for stevia-based products. 


Many investors have shown interest in the Stevia manufacturing companies seeing the rising opportunity in the steviol glycoside market. Rising health concerns and diseases like obesity, diabetes, cancer, and others have shifted customer's inclination towards low-calorie products and other non-sugar substitutes like stevia. 


Other factors involving the market growth are new product developments, concerns about health issues, rising demand for artificial sweeteners especially in yogurts, fruit-based drinks, hot fluidity, milk-based drinks, and other delicacies. Also, rising support from government and healthcare centers promoting healthy lifestyles has spurred the market growth. However, fluctuating and disparity in the price of stevia leave to act as a market restraint. Few people also developed allergies like anaphylaxis and other long terms effects like wheezing, dizziness, general weakness, shortness of breath, difficulty in swallowing. Even stevia is not subscribed to children because the origin of the stevia leaves is still unknown to people.


A study on market size estimation based on value and volume approaches followed to increase the market game by end-users, strategies to attract buyers and suppliers, and bridge the gap of demand-supply is studied under the market dynamics of the Steviol Glycoside Market. The global Steviol Glycoside Market is expected to generate a revenue of more than 536 million US dollars by the end of the forecast period. The global Steviol Glycoside Market is expected to register a CAGR of 9% by the year 2023.


COVID-19 Analysis:


The outbreak of the global COVID-19 pandemic has adversely affected the global Steviol glycosides market. The economic growth declined to a considerable amount in all the regions due to dynamically changing patterns of expenditure of various users on food items, beverages, chemicals, and medicines. The demand and supply chain were hampered immensely because of the national and international travel bans to contain the spread of the virus. Lockdowns globally are responsible for the insufficient supply of raw materials i.e. stevia leaves to extract stevia powder. This supply insufficiency hindered the rate of production of Steviol glycosides declining the market value. However, the market is expected to regain its value seeing to current market trends to fight the pandemic and maintain industrial values.


Market Dynamics:


Drivers:


- Increasing demand for stevia-based products.
- New product developments based on stevia.
- Rising concerns towards health issues.
- Rising number of diseases.
- Rising customer's inclination towards low-calorie products.
- Sugar-related diseases like cancer and obesity have made people shift their interest to non-sugar substitutes.
- Introduction of stevia-based energy drinks has prevailed many health cautious people consume these drinks over sugar-based drinks.
- Rise in demand for artificial sweeteners especially in yogurts, fruit-based drinks, hot fluidity, milk-based drinks, and other delicacies.
- Support from government and healthcare centers promoting a healthy lifestyle.

Challenges:


- Fluctuating and disparity in the price of stevia leaves.
- Awareness of stevia amongst a lesser number of populations.
- Can cause allergies like anaphylaxis and other ingestion issues amongst individuals.
- Not suited for children.
- Long terms effects like wheezing, dizziness, general weakness, shortness of breath, difficulty in swallowing.

Technology Analysis:


Stevia extracted from Stevia leaves is a natural sweetener or additives used in industries like chemical, food, beverage, medicine, pharmaceutical, and others. Many investors have shown interest in the Stevia manufacturing companies seeing the rising opportunity in the steviol glycoside market. Rising health concerns and diseases like obesity, diabetes, cancer, and others have shifted customer's inclination towards low-calorie products and other non-sugar substitutes like stevia. 


Other factors involving the market growth are new product developments, mergers and acquisitions, product launches, concerns about health issues, rising demand for artificial sweeteners especially in yogurts, fruit-based drinks, hot fluidity, milk-based drinks, and other delicacies. Also, rising support from government and healthcare centers promoting healthy lifestyles has spurred the market growth. However, fluctuating and disparity in the price of stevia leave to act as a market restraint. Few people tend to develop allergies like anaphylaxis and other long terms effects like wheezing, dizziness, general weakness, shortness of breath, difficulty in swallowing. 


New product launches like energy drinks and other beverages in the beverage and food industry have generated a surge in demand for stevia-based products. China on the other hand has disrupted the market dynamics by providing comparatively cheaper stevia products.


North America and Europe have also added to the market's competition of the steviol glycoside market.


Study Objectives:


The study objectives of the global steviol glycoside market are:


- Production cost analysis.
- Trade route analysis as per the demand and supply of the market.
- Price trend analysis, competitive landscape, value chain optimization, and technology analysis of the market studying the key market players.
- Import-export analysis.
- Expected market growth and CAGR as per historical and current study on market share, value, and volume.
- Literature review of the factors influencing and hampering the market growth.
- Segmentation as per product base analysis.

Segment Overview:


By Type:


The global Steviol Glycoside Market is segmented based on type as Dulcoside A, Stevioside, Rebaudioside A, Rebaudioside B, Rebaudioside C, Rebaudioside D, Rebaudioside E, Rebaudioside F, and others.


By End Users:


The global Steviol Glycoside Market is segmented based on end-users as beverage, food, medicine, chemical, and others.


Regional Analysis:


The global Steviol Glycoside Market is segmented based on region as:


North America (The U.S. and Canada)


  • Latin America (Brazil, Argentina, Mexico, and the Rest of Latin America)

  • Europe (Germany, Russia, Spain, The United Kingdom, France, Italy, and the Rest of Europe)

  • Asia Pacific (India, China, Japan, Singapore, New Zealand, Australia, Indonesia, Thailand, Philippines, Southeast Asia, Malaysia, and the Rest of Asia Pacific)

  • The Middle East (Turkey, Saudi Arabia, Israel, Egypt, Gulf Cooperation Council (GCC), U.A.E, and the rest of The Middle East)


Africa and North Africa



  • Asia Pacific is the market-dominant of the global steviol glycoside market followed by Europe and North America. The rising demand for artificial sweeteners especially in yogurts, fruit-based drinks, hot fluidity, milk-based drinks, and other delicacies has dominated the market in the region.

  • Rising initiatives from government and healthcare centers from around the world promoting a healthy lifestyle are making the market for Steviol Glycoside globally.


Competitive Landscape:


The competitive landscape of the global steviol glycoside market shares a detailed report accumulated by industry's experts on company overview, revenue generated, investment in the department of research and development, global presence, production capacities, production sites, production facilities, product width, product launch, product breadth, company financials, market potential, new market initiatives, company strengths, weaknesses, and application dominance.


The Intended Audience of the global steviol glycoside market is Steviol Glycoside Manufacturers, Potential Investors, Governments, End-use Industries, Suppliers, Distributors, Raw Material Suppliers, and Other Associations.


The prominent market players of the global steviol glycoside market are Cargill Incorporated, Sunrise Nutrachem Group, Tate & Lyle, Ingredion Incorporated, Sunwin Stevia International Inc., Kerry Inc., FUJIFILM Wako Pure Chemical Corporation, Evolva, Koninklijke DSM N.V., Archer Daniels Midland Company, PureCircle, GL Stevia, MORITA KAGAKU KOGYO CO. LTD., GLG LIFE TECH CORP., Zhucheng HaoTian Pharm Co.Ltd., Sweegen.com, Stevia Extraction Technology, and Layn Corp.


Recent Developments:


January 2022 - Codex Alimentarius, the international food standard safety authority, has undertaken the Framework for Steviol Glycosides, which involves four major technologies utilized during the development of steviol glycosides. These will now include steviol glycosides derived from bioconversion, stevia leaf extract, glucosylated steviol glycosides, as well as steviol glycosides from fermentation.

December 2021
- Ingredion recently introduced its latest solution that offers sweet taste, and is under the declaration of natural flavor. Called PureCircle NSF-13, the latest product has been created to offer sweetness across an extensive line of applications such as bakery, beverages, and dairy.

Containing steviol glycosides, including Reb M, PureCircle NSF-13 has been categorized as a ‘flavor preparation,’ and could help bolster a few flavor tonalities, mostly brown notes. It can also help bring down any bitterness in addition to its core contribution of the sweetness quality.

In April 2018, PureCircle expanded its production units in food and beverage companies by going public about the tasting of stevia sweeteners and working on further development, which made them achieve a high degree of stevia leaf extract which tasted exactly like sugar.


In March 2017, an investment of about 42 million US dollars was made by PureCircle to make the company rise in the competition in that quarter with increased production of stevia sweeteners and rising the competition.


In March 2017, an ever-sweet fermented version of steviol glycoside was launched by the global dominant company of the steviol glycoside market i.e. Cargill.


In March 2017, Tate & Lyle partnered with Sweet Green Fields to distribute stevia ingredients in the European market to cater to the growth of stevia solutions and ingredients demand in the region.


Report Overview:


The report overview of the global steviol glycoside market is:


- Details on new recent developments.
- Trade regulations according to demand and supply of the market.
- Import-export analysis.
- Production analysis.
- Effect of the ongoing global COVID-19 pandemic.
- Factors influencing and hampering the market growth.
- A detailed competitive landscape of the market studying the key market players.
- Region-wise analysis studying the initiatives of different regions.
- Market segmentation based on type, application, end-user, and region.
- Value chain optimization and technology analysis.
- Expected market growth and CAGR as per historical and current study on market share, value, and volume.



Report Scope:
Report Attribute/Metric Details
  Market Size   2030 : Significant value
  CAGR   (2022-2030): Substantial CAGR
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, End-user
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Cargill Incorporated, Sunrise Nutrachem Group, Tate & Lyle, Ingredion Incorporated, Sunwin Stevia International Inc., Kerry Inc., FUJIFILM Wako Pure Chemical Corporation, Evolva, Koninklijke DSM N.V., Archer Daniels Midland Company, PureCircle, GL Stevia, MORITA KAGAKU KOGYO CO. LTD., GLG LIFE TECH CORP., Zhucheng HaoTian Pharm Co.Ltd., Sweegen.com, Stevia Extraction Technology, and Layn Corp.
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers

  • Increasing demand for stevia-based products.
  • New product developments based on stevia.
  • Rising concerns towards health issues.
  • Rising number of diseases.
  • Rising customer's inclination towards low-calorie products.
  • Sugar-related diseases like cancer and obesity have made people shift their interest to non-sugar substitutes.
  • Introduction of stevia-based energy drinks has prevailed many health cautious people consume these drinks over sugar-based drinks.
  • Rise in demand for artificial sweeteners especially in yogurts, fruit-based drinks, hot fluidity, milk-based drinks, and other delicacies.
  • Support from government and healthcare centers promoting a healthy lifestyle.


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    Frequently Asked Questions (FAQ) :

    The forecast period for Steviol Glycoside Market research report is 2020-2027.

    Steviol Glycoside Market is dominated by North America region.

    The major players are Cargill Incorporated, Sunrise Nutrachem Group, Tate & Lyle, Ingredion Incorporated, Sunwin Stevia International Inc., Kerry Inc., FUJIFILM Wako Pure Chemical Corporation, Evolva, Koninklijke DSM N.V., Archer Daniels Midland Company, PureCircle, GL Stevia, MORITA KAGAKU KOGYO CO. LTD., GLG LIFE TECH CORP., Zhucheng HaoTian Pharm Co.Ltd., Sweegen.com, Stevia Extraction Technology, and Layn Corp.

    Global Steviol Glycoside Market: Competitive Landscape


    Some of the major players operating in the global steviol glycoside market are Cargill Incorporated (US), PureCircle Ltd (Malaysia), Sunrise Nutrachem Group (China), Xinghua GL Stevia (China), Tate & Lyle (UK), Morita Kagaku Kogyo Co. Ltd (Japan), Ingredion (US), and GLG Life Tech Corp (Canada) among others.


    Cargill Incorporated (US), PureCircle Ltd (Malaysia), and Tate & Lyle (UK) collectively holds the largest market share of the global steviol glycoside market. There is intense competition among these players to capture the largest market share in the global market. These players are implementing various strategies such as capacity expansions, supply/distribution agreements, mergers & acquisitions, investments, product launches, technology transfers, and joint ventures to maintain their market dominance and increase global presence. Among them, capacity expansions, mergers, and product launches were the most widely used growth strategies in 2017.


    PureCircle Ltd is the leading producer and innovator of great-tasting stevia sweeteners for the global beverage and food industry. The company operates through two segments–Sweeteners and Flavors. In April 2018, PureCircle planned to greatly expand the production of best tasting stevia sweeteners for beverage and food companies. Additionally, in the same month, the company successfully produced new starleaf stevia leaf extract with high degree of sugar-like taste. In March 2017, PureCircle completed expansion of stevia plant worth USD 42 million.  These expansions and the product launch were carried out to strengthen its position in global market and meet the increasing demand for stevia sweeteners in food and beverages industry.


    Cargill Incorporated, a company engaged in providing food, agricultural, financial, and industrial products services. It produces value added commodities for food and fuel, handles and process animals for protein products and also produces ingredients and protein products for consumer goods companies and distributors. In March 2017, Cargill launched eversweet fermented steviol glycoside to meet the growing demand from consumers and continue its dominance in global steviol glycoside market.


    Tate & Lyle is a company engaged in the provision of ingredients and solutions to food, beverage, and other industries. It operates through two segments: Specialty Food Ingredients and Bulk Ingredients. In March 2017, the company signed a distribution agreement with Sweet Green Fields, for stevia ingredients and solutions. This agreement was done to cater the growing demand for stevia ingredients and increase their market share in European market.