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| Stevia market |
The global Stevia Market is estimated to be valued at US$ 716.49 Mn in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Stevia is a sweet herb and has zero calories. Stevia sweeteners are used by
consumers to replace sugar and reduce calorie consumption. Stevia helps to
manage weight, control blood sugar levels and prevent cavities.
Market key trends:
One of the key trends in the Stevia market is the increasing demand for stevia
based natural sweeteners. Consumers are preferring low-calorie or zero-calorie
sweeteners instead of sugar due to rising health awareness. Manufacturers are
focusing on developing new innovative stevia sweeteners by blending stevia with
other natural sweeteners like erythritol to maintain the taste. This is
expected to boost the demand for stevia based sweeteners in the coming years.
Segment Analysis
The global stevia market is segmented on the basis of form, application, and
geography. Based on form, the market can be segmented into liquid, powder, and
leaf. Among these, the powder segment dominated the market in 2022 due to its
extensive usage in various food and beverage applications. Powdered stevia is
easily soluble and can be easily mixed in beverages and food products.
Key Takeaways
The global Stevia
Market Size is expected to witness high growth, exhibiting a CAGR of
8.5% over the forecast period, due to increasing demand for low-calorie
sweeteners and growing health consciousness among consumers.
Regional analysis
North America led the global stevia market in 2022 and is expected to remain
the leading region during the forecast period. The growing demand for
low-calorie food and beverages is driving the market in the region. Asia
Pacific is expected to witness the fastest growth over the forecast period owing
to rising health awareness and changing consumer lifestyles in major countries
like China and India.
Key players
Key players operating in the stevia market are Nestle S.A., The Coca-Cola
Company, PepsiCo Inc., Cargill Inc., Evolva Holding S.A., PureCircle Ltd.,
Stevia Corp., Ingredion Inc., GLG Life Tech Corp., and Tate & Lyle Plc.
Some of the major players are investing in R&D activities to develop
stevia-based ingredients that can effectively substitute sugar and drive the
adoption of steviol glycosides in various food applications.
Read More,
https://www.insightprobing.com/stevia-market-trends-size-and-share-analysis/
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