Rockville , Aug. 24, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global steviol glycosides market is valued at US$ 5.06 billion in 2023 and is set to reach US$ 8.64 billion by 2033-end. Steviol glycoside demand is anticipated to grow at a CAGR of 5.5% from 2023 to 2033.
Increasing consumer demand for natural, low-calorie sweeteners and growing emphasis on healthier food and beverage choices are driving the steviol glycosides market. Steviol glycosides, derived from the leaves of the Stevia plant (Stevia rebaudiana Bertoni), are renowned for their intense sweetness and negligible impact on blood sugar levels, making them a sought-after alternative to traditional sweeteners such as sugar.
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Sales of steviol glycosides are also increasing due to the growing health consciousness among several people, positive regulatory approvals for steviol glycosides as a food additive, and advancements in extraction and purification technologies. As consumers are increasingly seeking healthier and more natural alternatives to sugar and artificial sweeteners, demand for steviol glycosides is gaining traction. These compounds provide a natural, plant-based sweetening solution that meets modern dietary preferences.
Steviol glycosides offer a viable sweetening option for individuals with diabetes or those looking to manage their weight. Their minimal impact on blood glucose levels is making them an attractive option for health-conscious consumers. The application of steviol glycosides is extending beyond tabletop sweeteners. They are increasingly incorporated into a wide array of food and beverage products and medicines.
Report Attributes | Details |
| Forecast Period | 2023 - 2033 |
| Value Projection (2033) | US$ 8.64 Billion |
| Growth Rate (2023-2033) | 5.5 % CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
Key Takeaways from Market Study
- Global demand for steviol glycosides is predicted to increase at a CAGR of 5.5% from 2023 to 2033.
- The North American market is witnessing robust growth due to rising health consciousness, changing dietary preferences, and positive regulatory support for natural sweeteners.
- In Europe, rising concerns about obesity and sugar consumption are increasing the adoption of steviol glycosides.
- Asia Pacific is a significant regional market for steviol glycosides due to growing consumer preference for healthier sugar alternatives, a large diabetic population, and the presence of key stevia-producing countries such as China.
“Clean labelling and transparency in food products are gaining traction, which is propelling the sales of steviol glycosides, a natural plant-based sweetener that aligns with this trend,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- Cargill, Incorporated
- PureCircle
- Tate & Lyle
- FUJIFILM Wako Pure Chemical Corporation
- Sweegen
- Layn Corp.
- Sunrise Nutrachem Group
- Ingredion Incorporated
- Sunwin Stevia International Inc.
- Kerry Inc.
- 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.
- Stevia Extraction Technology
Winning Strategy
Key manufacturers of steviol glycosides are expanding their market reach by entering new geographic regions and targeting emerging markets to increase their revenue growth. Different regions across the globe have varying levels of consumer awareness and acceptance of steviol glycosides.
- PureCircle is a leading producer of high-purity steviol glycosides and its product offerings include various stevia-based sweeteners and ingredients for the food and beverages industry.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global steviol glycosides market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights into the market based on type (steviolbioside, stevioside, rebaudioside A, rebaudioside B), processing method (fermentation-based production, farming-based production), and end use (food & beverages, medicines, chemicals), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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