Global Stevia Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Stevia Market Overview:

Stevia Market was valued at $24 million in 2020 & is projected to reach $34 million by 2030. It is expected to grow at a 5% CAGR between 2021 and 2030.

The Stevia Market Report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027.

The Stevia Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.

The global stevia market report has been segmented on the basis of extract type, application, and region.

Stevia plant was traditionally grown in Brazil and Paraguay and used as a substitute for sugar. Stevia is extracted from leaves of flowers like asters and chrysanthemums.

It is also known as sweet leaf or honey leaf, which is used as a flavor enhancer and herbal supplement.

It does not contain carbohydrates, calories, or artificial ingredients. Stevia sweetener is a white powder or a liquid extract. Stevia was also used as a traditional medicine for burns, colic, stomach problems, and hypertension.

Consumers are moving towards natural ingredients, which is expected to fuel demand for stevia.

The increasing geriatric population, the rising incidence of diabetes, and health concerns to avoid high-calorie intake are expected to fuel the growth of the target market.

Moreover, increasing usage of stevia as a sweetener in the food & beverages industry and in the pharmaceutical industry as herbal medicines and tonics are other factors expected to drive the growth of the global stevia market over the forecast period.

However, side effects such as nausea, kidney, and reproductive system complications, and the availability of other low-cost artificial sweeteners are key factors restraining the growth of the global stevia market.

Increasing consumption of sports nutrition products & supplements and health drinks with low-calorie counts is also expected to provide a potential opportunity for key players in the global stevia market.

In addition, new product development, improved taste, coupled with good promotion activities is likely to increase the demand for stevia-based products and boost the market growth.

The Asia Pacific accounted for the highest share in terms of revenue in the global stevia market, owing to high investments from various multinational manufacturers in the region, rising demand for low-calorie products, and changing consumer preference for healthier eating.

North America's market accounted for the second-highest in terms of revenue share, owing to increasing consumer demand for organic products.

The Europe market is expected to witness significant growth in terms of revenue share in the global stevia market over the forecast period, due to rising health awareness and rising demand for packaged food.

Global stevia market segmentation:

Segmentation by extract type:

• Whole leaf
• Powdered
• Liquid

Segmentation by application:

• Dairy
• Bakery & confectionary
• Tabletop sweeteners
• Beverages
• Convenience food

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa