Stevia is basically a sweetener as well as a substitute for sugar that is extracted from the leaves of the stevia plant. It holds an important place in the sweetener segment due to its varied advantages, such as being a significant protein ingredient and low in calories. The increasing awareness about health advantages related to stevia has led to extensive utilization of stevia in the food and beverage sector.
The most active and major compounds available in stevia are known as rebaudioside A and stevioside, which are highly responsible for its sweetness. Stevia has been utilized in various countries in Latin America, such as Brazil and others. It is a 100% natural and zero-calorie sweetener that is 200 times sweeter than sugar and is utilized for health-related problems. Apart from this, it is highly suitable for diabetic patients as well due to its low glycemic index, as it does not impact blood sugar levels.
Rising disposable income and changing lifestyles in developing countries, as well as maintaining proper health, are anticipated to expand the growth of the global food and beverage stevia market till 2023. Changes in lifestyle, along with increased consumption of low-calorie foods, are expected to drive the growth of the global food and beverage stevia market over the forecast period. Besides this, rising numbers of obese and diabetic patients around the world are expected to bolster the growth of the global food and beverage stevia market between 2016 and 2023. Apart from this, changing government regulations and the emphasis on the promotion of stevia by governments all across the globe are expected to further impel the growth of the food and beverage stevia market until 2023.
The food and beverage stevia market has been estimated to be valued at US$ 145.5 million by the end of 2016 and is expected to attain revenue of US$ 251.4 million by 2023, expanding at a CAGR of 8.1% during the forecast period of 2016–2023.
Purpose of the Report
The purpose of this strategic research study titled "Global Food & Beverage Stevia Market: Growth, Future Prospects, Competitive Analysis, and Forecast, 2016–2023" is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the opportunities in the global food & beverage stevia market.
Target Audience
Industry Investors
Research Professionals
Emerging Companies
Raw Material Suppliers and Buyers
Product Suppliers and Buyers
Research Institutes
Overall, the research study provides a holistic view of the global food and beverage stevia market in terms of growth, offering market size and estimates for the period from 2013 to 2023, keeping in mind the above-mentioned factors.
On the basis of extract type, the food and beverage stevia market are categorised into the following types:
Liquid Extract
Powder Extract
Leaf Extract
Rising consumer demand for low-calorie foods, as well as the prevalence of cardiovascular diseases, obesity, and diabetes, are likely to strengthen the growth of the food and beverage stevia market during the forecast period. Besides this, innovation and new product development, enhanced taste and versatility, and significant levels of marketing assistance are anticipated to prosper the growth of the food and beverage stevia market through 2023. By extract type, the food and beverage stevia market are segmented into liquid extract, leaf extract, and powder extract. In 2016, the powder extract segment was estimated to contribute the highest share of the total revenue of the global food and beverage stevia market.
Increasing demand for low-calorie drinks and beverages such as flavored water, juices, energy drinks, and sports drinks is anticipated to drive companies to manufacture stevia products, thus intensifying the growth of the market as well as increasing the tough competition in the market with manufacturers competing on the parameters of price, product differentiation, distribution, quality, and promotion.
On the basis of geography, the global food and beverage stevia market are segmented into the following categories:
North America
The U.S.
Canada
Mexico
Europe
Germany
UK
Russia
Asia Pacific
China
India
South Korea
Middle East and Africa
Central and South America
Brazil
It has been noticed that consumers are becoming more apprehensive about their health. This has encouraged the companies to look upon the development of low-calorie sugar-based products as alternatives to sugar. Thus, rising inclination toward naturally manufactured products and a changing mindset of consumers towards the consumption of low-calorie products are expected to propel the growth of the food and beverage stevia market till 2023. The global food and beverage stevia market are segmented on the basis of geography. Asia Pacific contributed the highest revenue share in the total food and beverage stevia market, with a contribution that is estimated to be more than 40% by the end of 2016.
Following it, North America stood in second place in the same year. Higher health consciousness and awareness, along with a high-spending population, are anticipated to contribute to the double-digit growth rate of these regions during the forecast period. Rising government interest in order to promote stevia and the rising trend of people towards spending on stevia products are anticipated to intensify the growth of the food and beverage stevia market in the Asia Pacific region until 2023.
Frequently Asked Questions:
The market for Food & Beverage Stevia Market is expected to reach US$ US$ 251.4 Mn By 2023.
The Food & Beverage Stevia Market is expected to see significant CAGR growth over the coming years, at 8.1%.
The report is forecasted from 2016 to 2023.
The base year of this report is 2015.
The Coca Cola Company, Nestle S.A., Evolva Holdings S.A., Stevia Corp., Pepsico Inc.Cargill Inc. are some of the major players in the global market.
