Europe Stevia Market Overview:
Europe Stevia Market was worth USD 150.8 million in 2021 and estimated to be growing at a CAGR of 9.15%, to reach USD 233.63 million by 2026. The market is showcasing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rapid development in the nutrition industry.
Stevia has an important place in sweeteners segment due to its advantages like low-calorie and high protein. Stevia has its special flavour and sweetness which is about 200 to 350 times more than normal sugar. Several food & beverage companies use stevia to enhance the taste of products without adding calories. Thus, stevia will be seen as a business opportunity in the coming five years. Also, many multinational companies have started venturing into the production of various types of stevia.
The Europe Stevia market is majorly driven by the growth in awareness of health benefits of stevia and providing profitable margins to distributors. Also, rising product visibility in retail as well as product availability is expected to improve the demand for stevia-based products amongst the consumers across the globe. Stevia creation being a complex method, procuring raw material to getting the final product is a major problem for companies in this market.
Europe Stevia Market Segmentation:
The Europe Stevia Market is segmented based on Extract Type into Whole Leaf, and Powdered, Liquid. Based on Application, the market is segmented into Dairy, Bakery & Confectionery, Table top Sweeteners, Beverages, and Convenience Foods. Based on Form, the market is segmented into Dry, and Liquid.
On the basis of geography, the Europe market is analysed under various regions namely U.K, Germany, France, Spain and Italy. The region consists of many developed countries and is thus expected to show substantial growth in coming years.
Prominent Key Players:
Some of the major companies dominating the market, by their products are Nestlé S.A., The Coca-Cola Company and PepsiCo Inc., Cargill Inc., Evolva Holding S.A., PureCircle Ltd., Stevia Corp., Ingredion Inc., GLG Life Tech Corp. and Tate & Lyle Plc.
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