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Pulished Date February, 2020
ID: 7950
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Stevia Market by Form (Liquid, Powder, and Others), End-User (Retail Industry, Pharmaceutical Industry, Food & Beverages Industry, and Others), and Distribution Channel (Indirect Channel and Direct Channel), And By Region (North America, Europe, Latin America, Middle East and Africa, Asia Pacific and Rest of the World) – Global Industry Size, Share, Trends, Growth Forecast Report 2021-2026

Pulished: February, 2020
ID: 7950
Pages: 175

Stevia Market Size Analysis 2021-2026:

Stevia Market size that was at USD 491 million in 2019 is anticipated to develop to an extent of USD 771.5 million by the end of the assessment period 2021-2026. The Stevia Market is estimated to experience a CAGR of 9.5% throughout the calculated period.

What is a Stevia?

Stevia is a natural, calorie-free, non-cariogenic sweetener that has a low glycemic index (GI). It offers multiple potential benefits, particularly in the management of diabetics and obesity, control of blood pressure, and weight control. Therefore, consumers use it as a substitute for sugar in many foods and beverages. Stevia is comparatively 200 to 300 times sweeter than traditional sugar. Therefore, it becomes one of the most widely used ingredients and food additives in the food and beverage industry. This is attributed to the fact that stevia has many beneficial properties, such as improving flavor, preventing fermentation and discoloration, reducing stickiness in beverages, and has high heat resistance.

Recent Developments in the Stevia Market:

  1. In February 2018, GLG Life Tech Corporation signed a partnership deal with Archer Daniels Midland Company and introduced the Reb M product line. The Stevia-based product line makes it easy to replace sugar with better-tasting, low-calorie natural sweetening systems, and solutions that deliver a better flavor and better experience.
  2. In April 2020, Ingredion is about to acquire a 75% majority stake in PureCircle, a leading producer of stevia sweeteners for the global food and beverage industries. The acquisition is already agreed upon by the boards of directors of both these companies.

Stevia Market Report Statistics:

REPORT METRIC

DETAILS

Market Size Available

2019 – 2025

Base Year

2019

Forecast Period

2021 - 2026

CAGR

9.5%

Segments Covered

By Form, By Distributional Channels, By End User, and By Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Van Wankum Ingredients, Archer Daniels Midland Company, Tate & Lyle PLC, Beneo (Sudzucker Group), PureCircle, Cargill Incorporated, Ingredion Incorporated, Haihang Industry Co.

Stevia Market Drivers and Restraints:

The increasing prevalence of diabetes and obesity should serve as a major driver for the global stevia market. According to the World Health Organization, in 2016, approximately 1.6 million deaths were directly caused by diabetes, and it is the seventh leading cause of death in the world. As the frequency of diabetes and obesity increases, consumers are taking the appropriate steps to maintain a healthy lifestyle and are therefore seeking natural, calorie-free sweeteners to maintain blood sugar levels. As a result, the demand for stevia is expected to increase as it meets consumer needs. While consumers are turning to herbal and natural products, manufacturers, especially in the F&B industry, are trying to incorporate natural ingredients into their products. Increased awareness of the side effects of hormones and antibiotics found in animal products, an increase in the vegan population, and growing concern about animals should be among the drivers of the increased demand for herbal products of the plants. Therefore, the increasing inclination towards the use of herbal products should have a positive influence on the stevia market.

The volatility of stevia leaf prices acts as a major limiting factor for the growth of the stevia industry. The drop in the stevia harvest is expected to have an impact on the growing demand for stevia, which will cause supply to contract and prices to rise during the forecast period. Stevia has different varieties that vary in their wholesale and retail costs. Stevia is generally more expensive than artificial sweeteners such as saccharin, aspartame, and sucralose. As a result, fluctuations in prices and availability pose problems in production and supply planning for processors and the food industry. One of the main challenges for manufacturers of stevia extracts is the flavor offering. Traditional sugar still takes precedence over sugar substitutes like stevia in terms of the flavor profile. However, advanced cultivation methods, conventional plan improvement programs, advances in extraction technologies and methods, and optimization of solutions for new food and beverage applications have resulted in more stevia extract sweeteners. These advanced methods make it more expensive to extract these varieties of stevia.

Stevia Market Segmentation:

The global Stevia market can be divided based on form, end-user, and distribution channel. By form, the powder segment accounted for the largest share in the stevia market in 2018.

According to the end-user, food and beverages were the leading segments in the global Stevia Market in 2018, as stevia is one of the most popular ingredients and food additives used in the food and beverage industry. Additionally, it is used to improve flavor, prevent fermentation and discoloration, and reduce the stickiness of beverages. Furthermore, it acts as an antioxidant and has a high tolerance to heat, which fuels its demand in the food and beverage industry. In addition, it finds its main application as a natural stabilizer in various dairy products, confectionery, beverages, and other food products. Therefore, all of these factors increase the demand for stevia in the food and beverage industry.

Based on the distribution channel, the direct channel segment accounted for the leading portion in the global stevia market in 2018, owing to the surge in usage of this product in several industries like food and beverage, pharmaceutical, cosmetics, and animal feed. The augmented sales via this distribution channel can also be credited to the availability of large volumes of stevia at affordable prices.

Impact of COVID-19 on Stevia Market:

The COVID-19 pandemic is affecting the global food industry as governments close restaurants and bars to curb the spread of the virus. The closure of restaurants has had a direct impact on sectors such as food production, alcohol, wine, and beer production, food, and beverage transportation, fishing, and agriculture. Although the sales were affected in the stevia market due to lockdown, the Stevia Market is anticipated to explode in the coming days with the increasing consumer demand for low-calorie foods and a rise in the diabetic population.

Stevia Market Regional Analysis:

The global Stevia market has been studied based on geography in regions of North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.

The Asia-Pacific is expected to experience promising growth during the forecast period. In Japan, stevia represents about 40.0% of the global sweetener market. It is consumed in various dietary and low-calorie supplements. China has become the main exporter of stevia and has experienced a significant increase in consumption. North America was the second-largest regional segment, accounting for 27.2% of world market volume in the previous years.

Leading Company:

Archer Daniels Midland Company had the most substantial share of the Stevia Market in terms of sales and revenue in 2017.

Key Players:

The global Stevia Market is fragmented with key players like

  1. Van Wankum Ingredients
  2. Archer Daniels Midland Company
  3. Tate & Lyle PLC
  4. Beneo (Sudzucker Group)
  5. PureCircle
  6. Cargill Incorporated
  7. Ingredion Incorporated
  8. Haihang Industry Co.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Stevia Market, By Form                         

                                6.1.1 Liquid        

                                6.1.2 Powder    

                                6.1.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.1.4 Y-o-Y Growth Rate Analysis             

                                6.1.5 Market Attractiveness Index          

                6.2 Stevia Market, By End-User                

                                6.2.1 Retail Industry       

                                6.2.2 Pharmaceutical Industry   

                                6.2.3 Food & Beverages Industry             

                                6.2.4 Market Size Estimations & Forecasts (2019-2024)   

                                6.2.5 Y-o-Y Growth Rate Analysis             

                                6.2.6 Market Attractiveness Index          

                6.3 Stevia Market, By Distribution Channel                          

                                6.3.1 Indirect Channel   

                                6.3.2 Direct Channel       

                                6.3.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.3.4 Y-o-Y Growth Rate Analysis             

                                6.3.5 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                  

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Form    

                                7.2.3 By End-User           

                                7.2.4 By Distribution Channel     

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Form    

                                7.3.3 By End-User           

                                7.3.4 By Distribution Channel     

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Form    

                                7.4.3 By End-User           

                                7.4.4 By Distribution Channel     

                7.5 Latin America                             

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Form    

                                7.5.3 By End-User           

                                7.5.4 By Distribution Channel     

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Form    

                                7.6.3 By End-User           

                                7.6.4 By Distribution Channel     

8. Key Player Analysis                                    

                8.1 Van Wankum Ingredients                    

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Archer Daniels Midland Company                     

                8.3 Tate & Lyle PLC                         

                8.4 Beneo (Sudzucker Group)                   

                8.5 PureCircle                   

                8.6 Cargill Inc                     

                8.7 Ingredion Incorporated                         

                8.8 Haihang Industry Co               

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of Application, by  Region along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

                                                                                                                          

  1. Global Stevia Market By Region, From 2020-2025 ( USD Billion )
  2. Global Stevia Market By Form, From 2020-2025 ( USD Billion )
  3. Global Liquid Market By Region, From 2020-2025 ( USD Billion )
  4. Global Powder Market By Region, From 2020-2025 ( USD Billion )
  5. Global Stevia Market By End-User, From 2020-2025 ( USD Billion )
  6. Global Retail Industry Market By Region, From 2020-2025 ( USD Billion )
  7. Global Pharmaceutical Industry Market By Region, From 2020-2025 ( USD Billion )
  8. Global Food & Beverages Industry Market By Region, From 2020-2025 ( USD Billion )
  9. Global Stevia Market By Distribution Channel, From 2020-2025 ( USD Billion )
  10. Global Indirect Channel Market By Region, From 2020-2025 ( USD Billion )
  11. Global Direct Channel Market By Region, From 2020-2025 ( USD Billion )

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