Global Stevia Market By Form (Powder, Whole Leaf, Liquid, Tablet), Application (Industrial, Domestic), Distribution Channel (Direct Tenders, Retail), Geography (Asia-Pacific, North America, Europe, South America, Middle East & Africa) – Industry Trends and Forecast to 2026
The carbonated beverages and foods are flavoured, artificial coloured, sweetened carbonated and preserved with chemicals. The majorly used ingredients in the carbonated food and drinks are sugar. The rising consumption of the sugar leads to serious illness such as obesity and diabetes amongst the population. Rising health concern amongst the population is increasing the preference towards low calorie sugar based products and organic ingredients in their daily intake. Various types of sugar substitutes are available such as Aspartame which cannot sustain at higher temperature whereas saccharin has certain limitation from Food and Drug Administration (FDA). The stevia extracted sweetener Reb A is generally recognized as safe (GRAS) for their usage in the foods and beverages industry.
Global stevia market is expected to reach at a substantial CAGR of 8.3% in the forecast period of 2019 to 2026.
Segmentation: Global Stevia Market
The global stevia market is segmented based on form, application and distribution channel.
- On the basis of form, the market is segmented into powder, whole leaf, liquid and tablets. Powder segment are growing at the highest CAGR in the forecast period of 2019 to 2026.
- NOW Foods (U.S.) offers BetterStevia Extract Powder which is in pure organic with zero-calorie, low glycemic certified organic sweetener substitute for table sugar and artificial sweeteners.
- In October 2017, Ingredion Incorporated (U.S.), announced the launch of VERSASWEET which is low-sugar glucose syrup, introduced in U.S. and Canada. The syrup is designed for the dairy, confectionery, baked good and ice creams to achieve reduced grams of sugar
- On the basis of application, the market is segmented into Industrial and domestic. Industrial segment is growing at the highest CAGR in the forecast period of 2019 to 2026.
- In February 2018, GLG Life Tech Corporation and Archer Daniels Midland Company (U.S.) introduced their product high Reb M Dream Sweetener Stevia Leaf with the high Reb M. The product provides the clean and smooth sweetness in food and beverages products.
- On the basis of distribution channel, the market is segmented into direct tenders and retail. Direct tenders segment is growing at the highest CAGR in the forecast period of 2019 to 2026.
- In July 2017, PureCircle (Malaysia) unveiled the new stevia leaf-based flavor enhancers which ensure food and beverages companies to produce product and cost effective price in vanilla and cocoa flavors.
Competitive Analysis: Global Stevia Market
Some of the major players operating in this market are Cargill, Incorporated, Ingredion Incorporated, Tate & Lyle, PureCircle, Archer Daniels Midland Company, BIOSWEET VENTURES, GLG LIFE TECH CORP., Hunan huacheng Biotech,Inc., HYET Sweet, Morita Kagaku Kogyo Co., Ltd., Pyure, S&W Seed Co., Stevita, Sunwin Stevia International, Inc., Whole Earth Sweetener Co., LLC, ZHUCHENG HAOTIAN PHARM CO. LTD among others.
- In March 2018, Wisdom of the Ancients. (U.S.) announced the launch of six herbal beverage blends. The six herbal beverages blends are organic, unsweetened tea made from yerba maté leaves. The herbal blends are formulated with the stevia as a sweetening agent and with exotic flavor. Growing healthy diets and demand of the herbal tea and beverages leads the company to shift towards the stevia sweeteners and their products.
- In September 2017, PureCircle (Malaysia) announced the launch of Sigma-Xcelerator(SM) product development tool. The tool provides the company to produce stevia ingredient combinations and maximizes the product taste and helps in meeting the customer’s requirements in terms of low sugar, cost and solubility.
- In June 2017, Zyduswellness (India) announced the launch of Sugar Free Green which are available in pallets and powder form and can be used in the beverages and desserts for adults and kids. The launch of the tablets and powder with the stevia ingredients and demand of sugar free foods and beverages leads the growth of stevia in the upcoming year.
Research Methodology: Global Stevia Market
Key Opinion Leaders (KOL’s): Manufacturer, Healthcare Professionals, Industrialist, Distributors.
Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers.