New York, NY, June 20, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Stevia Market by Extract Type (Liquid, Powder, and Leaf) and by Application (Dairy Products, Bakery and Confectionery Products, Dietary Supplements, Packaged Food Products, Beverages, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 - 2024”. According to the report, global stevia market was valued at approximately USD 416.6 million in 2017 and is expected to generate revenue of around USD 721.0 million by end of 2024, growing at a CAGR of around 8.2% between 2018 and 2024.
Sweeteners market consists of both non-caloric and caloric sweeteners. In the recent years, there is increased consumer awareness towards low- calorie food across the globe which has changed consumer preference for food resources which offer high energy and low carbohydrates. Also, the shift of consumers towards sugar substitute products is a major concern for manufacturers which is leading to a transition in the sweetener market. Continuous product launches are also catering the demand for the natural ingredients which is further anticipated to maintain the healthy growth for plant-based sweeteners like stevia in the future. Sweeteners market consists of both non-caloric and caloric sweeteners. The increased consumer awareness towards low-calorie food across the globe has changed consumer preference for food resources which have very low carbohydrates and also offer high energy. Moreover, a shift in consumer preference for sugar substitute products is a prime concern for manufacturers and thus has led to a transition in the sweetener market. Additionally, continuous product launches catering to the demand for natural ingredient and antioxidants products is expected to support the robust growth of plant-based sweeteners for instance stevia in the near future.
Browse through 44 Tables & 25 Figures spread over 110 Pages and in-depth TOC on "Global Stevia Market Size & Share 2017: Industry Demand, Trends, Growth Analysis and Forecast, 2024”.
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The rising knowledge about health benefits related to stevia is leading to the extensive use of this product in the food & beverage sector. Since the number of diabetic and obese population is on the verge, stevia is considered as the best sugar alternative as it has zero-calorie property. However, stevia has always been in the news due to regulatory constraints, which is a major restraint to this market. Another risk to the market is the availability of other low-calorie sweeteners. Although the growing health drinks and sports nutrition market is boosting the industry’s growth. The growing awareness about the health benefits associated with stevia is leading to the extensive use of these products in the food & beverage sector. As the number of obese and diabetic people is on the rise, stevia is the best sugar alternative due to its zero-calorie property. Stevia has always been in the news due to various regulatory constraints, which is a major threat to the stevia market. Another threat to the market is the availability of other low-calorie sweeteners. The growing sports nutrition and health drink market is boosting the industry’s growth.
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The stevia market is segmented on the basis of extract type into which includes liquid, powder, and leaf. The powder is the biggest and the fastest growing segment; stevia is widely used in the powdered form across the globe. Powdered stevia is approximately 250 to 350 times sweeter than sugar by weight, thus only a drop or a pinch of it in the diluted liquid is required. The stevia market is segmented on the basis of extract type into liquid, powder, and leaf. Stevia is widely used in the powdered form across the globe; hence this segment is the biggest and the fastest growing in the stevia market. Powdered stevia is approximately 200 to 300 times sweeter than sugar by weight, hence only a pinch or a drop of it in the diluted liquid form is required.
Based on the application, the market is segmented into dairy products, bakery and confectionery products, dietary supplements, packaged food products, beverages, and others. The beverages segment is anticipated to witness a high growth due to escalating demand for low-calorie beverages such as flavored water, juices, energy drinks, soft drinks, and sports drinks that are healthy and unique. Based on the application the market is segmented into dairy products, bakery and confectionery products, dietary supplements, packaged food products, beverages and others. The beverages segment is expected to witness huge growth rate due to the burgeoning demand for low-calorie beverages such as juices, flavored water, sports drinks, energy drinks, and soft drinks that are unique and healthy.
Browse the full "Stevia Market by Extract Type (Liquid, Powder, and Leaf) and by Application (Dairy Products, Bakery and Confectionery Products, Dietary Supplements, Packaged Food Products, Beverages, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2024" report at https://www.zionmarketresearch.com/report/stevia-market
The rising population with diabetes is a major reason for the increased consumption rate of stevia in the U.S. as the country has almost 29 million people suffering from diabetes. However, this number is expected to grow further in near future. Most prominent beverage companies, such as PepsiCo and Coca-Cola, in the U.S., have already incorporated stevia as a sweetener in their beverages. Stevia is not considered safe in various countries. However, Canada and Mexico government health associations have added stevia to the list of permitted sweeteners, the one that can be used as table-top sweeteners. This factor has increased the rate of consumption of stevia, significantly in North America. As of 2016, the powered stevia segment accounted for almost 63% of the total revenue in Canada. Food and beverages industry in the European region is a robust and resilient sector which is estimated to sustain stable growth for the next 20 years. Also, there is an increasing consumer demand for organic food products which is playing a crucial role in propelling the growth of stevia market in Europe. Consumer trends are distinct and are characterized with pursuing of health and pleasure. New formulation with natural ingredients and wellness benefits is corresponding with the consumer expectations. The low investment on R&D shows that the food and drink market in Europe is less competitive as compared to Australia, Japan, and the U.S. Innovative food and drinks have more chance to stand out in the competition and attract consumers thus creating opportunities for manufacturers.
The Asia-Pacific market is anticipated to grow at the highest CAGR during the forecast period. China dominates the stevia market since it is the largest exporter of stevia and has a growing demand for the food & beverages industry in emerging markets. Also, stevia has a broad acceptance in some of the regions like Japan and South Korea as natural sweeteners and they have been a part of the diet of consumers in these countries. Emerging economies such as Thailand, Indonesia, and Malaysia are also expected to be the key markets for this product owing to the growing food & beverage industry.
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Latin America and the Middle East and Africa hold the least position in stevia market in comparison to other regions. However, change in consumer perceptions and a comparatively under-penetrated market makes stevia a great opportunity for manufacturers in these two regions.
Thus, all the aforementioned parameters are expected to propel the market growth globally.
The report includes complete profiles of end players such as Tate & Lyle Plc, The Coca-Cola Company, PureCircle Ltd., Evolva Holding S.A., Nestlé S.A., Ingredion, Inc., GLG Life Tech Corp., PepsiCo, Inc., Stevia Corp., Cargill, Inc., and others.
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This report segments the global stevia market as follows:
Global Stevia Market: Extract Type Segment Analysis
- Liquid
- Powder
- Leaf
Global Stevia Market: Application Segment Analysis
- Dairy Products
- Bakery and Confectionery Products
- Dietary Supplements
- Packaged Food Products
- Beverages
- Others
Global Stevia Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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