Stevia Rebaudiana Market - Forecast(2023 - 2028)

Stevia Rebaudiana are leaves containing sweetening compounds and are also called as sweet leaves and candy leaves. Stevia Rebaudiana is not chemically processed and also have various advantages. These does not contain any carbohydrates and calories, this being the important reason on the increased usage of stevia. The market for Stevia was valued at $476.46 million in 2017 and is estimated to reach by $781.61 million in 2023 with a projected CAGR of 8.6%. China has been the largest producer of stevia followed by the U.S. In terms of consumption, APAC is the largest consumer of stevia followed by the North American region.

Stevia Rebaudiana has two sweetening agents namely stevioside and rebaudioside. Rebaudioside is the major ingredient that is responsible for the major sweetness. Rebaudiana is more expensive due to its further processing and filtration. Stevia leaves can be directly added to the beverages or could be added that is in the powder form. A liquid form of stevia is also available that could be added in the beverages. These are also used in pharmaceuticals as suppressing agents. These also help in treating diabetes and also help in lowering blood pressure. 

The cost for the Stevia Rebaudiana of 1kg is around $90-$100.

The relentless rise in the number of obesity and diabetes cases around the world is a major driver for the stevia market. This is used as a substitute to the sugar and also has low calories and carbohydrates content in it. Stevia is being recommended by the doctors in preponderance for lowering the sugar levels. Stevia Rebaudiana is approved globally as a low-calorie sweetening agent and is being used by many food and beverages industry which is also a major driver for the stevia market. The continuous innovations in Reb D and Reb M by the manufacturers for producing zero calories is also driving the market.

The major challenge in the Stevia Rebaudiana market is its high price. Its prices are relatively high compared to sugar. It gives a bitter aftertaste after its consumption and also has certain side effects up on its consumption. The side effects include nausea, bloating and few more which is also a challenge for the Stevia Rebaudiana Market. The increase in the dosage of stevia had effects on pregnancy, contraception and fertility which is also a discernible challenge in the market.

 

The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Superabsorbent Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the electric vehicle market, and their specific applications in different types of vehicles.

Stevia Rebaudiana Market– By Constituents: Stevioside and Rebaudioside

Stevia Rebaudiana Market– By Form: Powder, Liquid.

Stevia Rebaudiana Market– By Type: Stevia leaves, stevia extracts and stevia blends.

Stevia Rebaudiana Market– By Packaging: Bags, sachets, pouches, cans, bottles.

Stevia Rebaudiana Market– By Application: Flavor enhancers, suppressing agents, heat resistant agents and others

Stevia Rebaudiana Market– By End-user industry: Food and beverages industry, Pharmaceuticals industry, Cosmetics industry

Some of the Key players in this market that have been studied for this report include: Cargill Incorporated, Golden Omega S.A, Croda International Plc, Omega Protein Corporation, FMC Corporation and many more.

Cargill Incorporated, a key player in the Stevia Rebaudiana Market has started producing EverSweet™ sweetener commercially which provides much healthy options. This product is a zero-calorie sweetener and is made from the sweet compounds Rebaudiana M and Rebaudiana D that is present in the stevia leaf.

PureCircle, stevia producing company, headquartered in Kuala Lumpur, Malaysia, had found high content of proteins, fibers and antioxidants in stevia after its extensive research and development activities on stevia plant. The company has also decided to plant 16,000 tons of stevia in 2018 which is a 200% increase from the year 2017 due to its high demand in the food and beverages industry.  

GLG LifeTech Corporation, world’s leading producer of zero-calorie sweeteners has made a new partnership with Archer Daniels Midland Company, a food processing company to manufacture, sell, and distribute stevia sweeteners to the customers.

Coca-Cola has also shown keen interest on the usage of stevia in their products. It has launched Coca-Cola Stevia in New Zealand which has 35% less sugar content than the previous Coca-Cola products. Steviol Glycoside, a leaf extract of Stevia is being used in this product along with the sugar.