Rising health consciousness has encouraged people to shift from artificial sweeteners to natural ones such as stevia. Numerous other factors such as the rising demand for sugar-free and low-calorie products, lifestyle changes, growing disposable inco
Being a 100% natural and zero-calorie sweetener, stevia has gained worldwide popularity as a natural sugar substitute. According to IMARC Group, the global stevia market was estimated to be worth around US$ 370 Million, growing at a CAGR of around 9% during 2008-2015. Extracted from a herbal plant species called Stevia rebaudiana, stevia is known to be 200 to 300 times sweeter than sugar in the same concentration. Due to its low glycemic index, stevia doesn’t influence the blood sugar levels and hence is considered suitable for diabetic patients. Further, the active compounds in stevia, mainly Stevioside and Rebaudioside A, offer various positive properties and health benefits. As a result, the health conscious consumers are now replacing artificial sweeteners with natural ones such as stevia. Numerous other factors such as the growing incidences of lifestyle diseases, awareness about sustaining a healthy diet, growing disposable incomes, rising demand for natural ingredient-based products, government initiatives to promote healthy lifestyles and a continuous growth in its end-use industries are also driving the global stevia market.
The report titled “Stevia Market – Industry Trends, Prices, Manufacturing Process, Applications, Raw Materials, Manufacturers, Regional Breakup and Mass Balance” provides an in-depth analysis of the global stevia market. The report segments the market on the basis of forms of stevia available, namely powder, liquid and leaf. Due to its extreme sweetness, powdered stevia is used by the pinch or drop (after its being diluted). On the contrary, stevia leaves are primarily used in preparing herbal tea. Based on its end-use industries, the use of stevia in the food segment accounts for the majority of its market share followed by the beverage and pharmaceutical segments. The demand in the food and beverage sector is primarily high due to an increasing popularity of low-calorie products. The demand in the pharmaceutical sector, on the other hand, is driven by an increasing consumption of dietary supplements and the use of stevia for other medicinal purposes.
The report has also analysed the global stevia market on the basis of key regions. The study finds that the Asia-Pacific region currently represents the largest market for stevia. Within the Asia-Pacific region, China currently represents the leading producer of stevia. The Asia-Pacific region is followed by North America and South America. In terms of consumption, Japan accounts for the majority of the global stevia consumption. Japan was followed by the United States and China with both countries holding an equal share and together accounting for one-fifth of the total global consumption. Analysing the competitive landscape, the key global producers include Pure Circle and GLG life tech. They together account for the biggest market share followed by Sunwin International.
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