San Francisco, 16 October 2018 , The global Stevia Market size is expected to reach USD 553.7
million by 2024, according to a new report by Grand View Research, Inc.,
progressing at a CAGR of 6.1% during the forecast period. Soaring demand for
low-calorie sweeteners is expected to be a major factor propelling market
growth. Considering the market is still at a nascent stage, the market is yet
to realize its full potential.
Stevia
contains rebaudioside-A and stevioside, which are responsible for imparting
high degree of sweetness without any side effects on health. This is the major
reason for the growing demand for stevia over the past few years.
Stevia acts
as a natural sugar substitute. The production process starts with a herbal
plant called stevia rebaudiana, which is a member of the Chrysanthemum family
and grows naturally in the forests of Brazil and Paraguay. The components of
stevia leaves responsible for the plant’s sweetness are glycosides.
Beverages
form the largest application segment and in 2015, accounted for 34.7% of the
total volume. This can be attributed to increasing market penetration of stevia
in various soft drinks, juices, teas, and nectar. Companies such as PepsiCo,
Inc. and The Coca-Cola Company have incorporated the product in their diet soft
drinks and are marketed as drinks with no side effects on consumer health.
Biotechnology companies are marketing the product in various forms such as
liquids and powders. It is expected to replace sucrose in various food products
including confectionery jellies, traditional cakes, biscuits, and other baked
products.
Full Research Report On Stevia Market Analysis:
www.grandviewresearch.com/industry-analysis/stevia-market
www.grandviewresearch.com/industry-analysis/stevia-market
Further key findings from the report suggest:
·
The global market generated USD 337.7
million in 2015 and is anticipated to progress at a CAGR of 6.1% during the
forecast period
·
Beverages accounted for the largest share
by application in 2015, holding 34.7% of the total volume. The segment is
expected to witness the fastest growth over the forecast period owing to
increasing use of stevia in various carbonated drinks to expand consumer base
·
Asia Pacific was the largest market,
accounting for 35.3% of the global market volume in 2015. Positive outlook of
the food and beverage sectors in China, Japan, South Korea, and Vietnam is
expected to promote the consumption
·
PureCircle Limited, GLG Life Tech Corp, and
Stevia Corp are some of the major producers. Stevia First Corp, Cargill, and
Evolva S.A. are other major players in the market. These players are integrated
across various stages of the value chain in order to improve their contribution
margins and gain higher market share
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/nutraceuticals-functional-foods-and-dietary-supplements
Grand View Research has segmented the
global stevia market by application and region:
Stevia
Application Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
·
Beverage
·
Food
·
Pharmaceuticals
·
Tabletop sweeteners
·
Others
Stevia
Regional Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
·
North America
o
U.S.
·
Europe
o
Germany
·
Asia Pacific
o
China
o
Japan
o
South Korea
·
Latin America
o
Brazil
·
Middle East & Africa (MEA)
Access Full Press Release of this Report: https://www.grandviewresearch.com/press-release/global-stevia-market
About Grand View Research
Grand View Research, Inc.
is a U.S. based market research and consulting company, registered in the State
of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com/
