Stevia Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research has recently released a comprehensive report on the global Stevia Market, providing an in-depth analysis of key market dynamics, including driving forces, emerging trends, opportunities, and challenges. This report offers a detailed understanding of the market landscape, helping stakeholders make well-informed decisions.

Key Insights:

Stevia Market Size (2024E): US$ 0.5 Bn
Projected Market Value (2031F): US$ 0.9 Bn
Global Market Growth Rate (CAGR 2024 to 2031): 8.1%

Stevia Market - Report Scope:

The global stevia market encompasses a wide array of applications, including natural sweeteners, low-calorie sugar alternatives, and clean-label food products. Stevia's unique characteristics, such as its low glycemic index and zero-calorie profile, make it a preferred choice for diabetic and health-conscious consumers. The growing demand for plant-based and organic ingredients is fueling the market expansion, supported by advances in food technology and regulatory initiatives promoting sugar reduction.

Market Drivers:

The growth of the stevia market is primarily driven by increasing consumer awareness of health and wellness, coupled with rising diabetes prevalence worldwide. According to the International Diabetes Federation, 537 million adults globally were living with diabetes in 2022, and this number is expected to rise to 643 million by 2030. Stevia's low glycemic index and suitability for diabetic management have positioned it as a key ingredient in sugar reduction initiatives. Additionally, the global trend towards clean-label products has boosted demand for natural sweeteners, as consumers prefer recognizable and plant-based ingredients. Stevia's integration into beverages, snack bars, and confectionery products further accelerates market growth.

Market Restraints:

Despite its promising potential, the stevia market faces challenges such as the high costs associated with the extraction and purification processes. These costs often translate into higher product prices, which can deter adoption in price-sensitive markets. Additionally, the bitter aftertaste of raw stevia extracts and limited awareness about its benefits in some regions act as barriers to growth. Regulatory complexities and the need for stringent compliance with food safety standards also add to the operational challenges for market players.

Market Opportunities:

The stevia market presents significant growth opportunities as technological advancements improve product formulations, addressing issues like aftertaste and enhancing flavor masking. The development of stevia blends and glycoside production is set to create a wider acceptance among consumers. The market is further poised for expansion as companies emphasize eco-friendly production methods and transparent supply chains. Increasing adoption in emerging markets, driven by economic development and a shift towards premium health products, represents another untapped potential. Moreover, the introduction of innovative applications in the food and beverage industry, including dairy alternatives and functional drinks, is expected to widen the market scope.

Key Questions Answered in the Report:

What factors are driving the global stevia market's growth, and how do these trends vary by region?
How are clean-label trends influencing the adoption of stevia in food and beverages?
Which regions are expected to witness the highest market growth during the forecast period?
What innovations in stevia production and formulations are shaping the competitive landscape?
What challenges must companies overcome to capitalize on the growing demand for natural sweeteners?

Competitive Intelligence and Business Strategy:

Leading companies in the global stevia market, including Cargill, PureCircle, Tate & Lyle, and SteviaCorp, are focusing on product innovation and expanding their portfolio of stevia-based solutions. Advances in technology, such as enzyme modification and fermentation-based production, are helping companies enhance taste profiles and scalability. Strategic partnerships with food and beverage brands are further enabling companies to cater to growing consumer demand. In addition, firms are investing in sustainable farming practices and certification programs to align with the clean-label and eco-friendly trends dominating the market.

Key Companies Profiled:

Tate & Lyle
Ingredion Incorporated
Cargill, Incorporated
PureCircle
Wisdom Natural Brands
Archer Daniel Midland Company
Van Wankum Ingredients
Whole Earth Sweetener Co., LLC
SOPURE STEVIA
SteviaPac Food Innovation
Xinghua GL Stevia Co., Ltd
Frontier Co-op.
Nature's Answer
Steviva Brands
Swanson
GLG LIFE TECH CORP
MORITA KAGAKU KOGYO CO., LTD.
The Truvia Company, LLC
Wisdom Natural Brands
Evolva Holding SA Nemours & Co.

Stevia Market Segmentation:

By Nature

Organic
Conventional

By Form

Powder
Liquid
Dried leaves

By End Use

Food and Beverage
Dietary Supplements
Household/Retail
Others

By Distribution Channel

Business to Business
Business to Consumer

By Region

North America
Latin America
Europe
East Asia
South Asia
Oceania
The Middle East Africa

Product Code: PMRREP3834

1. Executive Summary

1.1. Global Stevia Market Snapshot, 2024 and 2031
1.2. Market Opportunity Assessment, 2024 - 2031, US$ Bn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Industry Developments and Key Market Events
1.6. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Stevia Market: Value Chain
- 2.3.1. List of key players
2.4. Forecast Factors - Relevance and Impact
2.5. Covid-19 Impact Assessment
2.6. PESTLE Analysis
2.7. Porter Five Force's Analysis

3. Key Regulations/ Standards

4. Price Trend Analysis, 2019 - 2031

4.1. Key Factors Impacting Prices
4.2. Prices by Form/Nature

5. Global Stevia Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

5.1. Market Size (US$ Bn) Analysis and Forecast
- 5.1.1. Historical Market Size Analysis, 2019 - 2023
- 5.1.2. Current Market Size Forecast, 2024 - 2031
5.2. Global Stevia Market Outlook: Form
- 5.2.1. Historical Market Size (US$ Bn) Analysis By Form, 2019 - 2023
- 5.2.2. Current Market Size (US$ Bn) Forecast By Form, 2024 - 2031
  - 5.2.2.1. Powder
  - 5.2.2.2. Liquid
  - 5.2.2.3. Dried leaves
- 5.2.3. Market Attractiveness Analysis: Form
5.3. Global Stevia Market Outlook: Nature
- 5.3.1. Historical Market Size (US$ Bn) Analysis By Nature, 2019 - 2023
- 5.3.2. Current Market Size (US$ Bn) Forecast By Nature, 2024 - 2031
  - 5.3.2.1. Organic
  - 5.3.2.2. Conventional
- 5.3.3. Market Attractiveness Analysis: Nature
5.4. Global Stevia Market Outlook: End Use
- 5.4.1. Historical Market Size (US$ Bn) Analysis By End Use, 2019 - 2023
- 5.4.2. Current Market Size (US$ Bn) Forecast By End Use, 2024 - 2031
  - 5.4.2.1. Food and Beverage
    - 5.4.2.1.1. Bakery and Confectionery
    - 5.4.2.1.2. Dairy Products
    - 5.4.2.1.3. Beverages
    - 5.4.2.1.4. Others
  - 5.4.2.2. Dietary Supplements
  - 5.4.2.3. Household/Retail
  - 5.4.2.4. Others
- 5.4.3. Market Attractiveness Analysis: End Use
5.5. Global Stevia Market Outlook: Distribution Channel
- 5.5.1. Historical Market Size (US$ Bn) Analysis By Distribution Channel, 2019 - 2023
- 5.5.2. Current Market Size (US$ Bn) Forecast By Distribution Channel, 2024 - 2031
  - 5.5.2.1. Business to Business
  - 5.5.2.2. Business to Consumer
    - 5.5.2.2.1. Hypermarkets/Supermarkets
    - 5.5.2.2.2. Convenience Stores
    - 5.5.2.2.3. Online Retail
    - 5.5.2.2.4. Others
- 5.5.3. Market Attractiveness Analysis: Distribution Channel

6. Global Stevia Market Outlook: Region

6.1. Historical Market Size (US$ Bn) Analysis By Region, 2019 - 2023
6.2. Current Market Size (US$ Bn) Forecast By Region, 2024 - 2031
- 6.2.1. North America
- 6.2.2. Europe
- 6.2.3. East Asia
- 6.2.4. South Asia and Oceania
- 6.2.5. Latin America
- 6.2.6. Middle East & Africa
6.3. Market Attractiveness Analysis: Region

7. North America Stevia Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

7.1. Historical Market Size (US$ Bn) Analysis By Market, 2019 - 2023
- 7.1.1. By Country
- 7.1.2. By Form
- 7.1.3. By Nature
- 7.1.4. By End Use
- 7.1.5. By Distribution Channel
7.2. Current Market Size (US$ Bn) Forecast By Country, 2024 - 2031
- 7.2.1. U.S.
- 7.2.2. Canada
7.3. Current Market Size (US$ Bn) Forecast By Form, 2024 - 2031
- 7.3.1. Powder
- 7.3.2. Liquid
- 7.3.3. Dried leaves
7.4. Current Market Size (US$ Bn) Forecast By Nature, 2024 - 2031
- 7.4.1. Organic
- 7.4.2. Conventional
7.5. Current Market Size (US$ Bn) Forecast By End Use, 2024 - 2031
- 7.5.1. Food and Beverage
  - 7.5.1.1. Bakery and Confectionery
  - 7.5.1.2. Dairy Products
  - 7.5.1.3. Beverages
  - 7.5.1.4. Others
- 7.5.2. Dietary Supplements
- 7.5.3. Household/Retail
- 7.5.4. Others
7.6. Current Market Size (US$ Bn) Forecast By Distribution Channel, 2024 - 2031
- 7.6.1. Business to Business
- 7.6.2. Business to Consumer
  - 7.6.2.1. Hypermarkets/Supermarkets
  - 7.6.2.2. Convenience Stores
  - 7.6.2.3. Online Retail
  - 7.6.2.4. Others
7.7. Market Attractiveness Analysis

8. Europe Stevia Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

8.1. Historical Market Size (US$ Bn) Analysis By Market, 2019 - 2023
- 8.1.1. By Country
- 8.1.2. By Form
- 8.1.3. By Nature
- 8.1.4. By End Use
- 8.1.5. By Distribution Channel
8.2. Current Market Size (US$ Bn) Forecast By Country, 2024 - 2031
- 8.2.1. Germany
- 8.2.2. France
- 8.2.3. U.K.
- 8.2.4. Italy
- 8.2.5. Spain
- 8.2.6. Russia
8.3. Current Market Size (US$ Bn) Forecast By Form, 2024 - 2031
- 8.3.1. Powder
- 8.3.2. Liquid
- 8.3.3. Dried leaves
8.4. Current Market Size (US$ Bn) Forecast By Nature, 2024 - 2031
- 8.4.1. Organic
- 8.4.2. Conventional
8.5. Current Market Size (US$ Bn) Forecast By End Use, 2024 - 2031
- 8.5.1. Food and Beverage
  - 8.5.1.1. Bakery and Confectionery
  - 8.5.1.2. Dairy Products
  - 8.5.1.3. Beverages
  - 8.5.1.4. Others
- 8.5.2. Dietary Supplements
- 8.5.3. Household/Retail
- 8.5.4. Others
8.6. Current Market Size (US$ Bn) Forecast By Distribution Channel, 2024 - 2031
- 8.6.1. Business to Business
- 8.6.2. Business to Consumer
  - 8.6.2.1. Hypermarkets/Supermarkets
  - 8.6.2.2. Convenience Stores
  - 8.6.2.3. Online Retail
  - 8.6.2.4. Others
8.7. Market Attractiveness Analysis

9. East Asia Stevia Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

9.1. Historical Market Size (US$ Bn) Analysis By Market, 2019 - 2023
- 9.1.1. By Country
- 9.1.2. By Form
- 9.1.3. By Nature
- 9.1.4. By End Use
- 9.1.5. By Distribution Channel
9.2. Current Market Size (US$ Bn) Forecast By Country, 2024 - 2031
- 9.2.1. China
- 9.2.2. Japan
- 9.2.3. South Korea
9.3. Current Market Size (US$ Bn) Forecast By Form, 2024 - 2031
- 9.3.1. Powder
- 9.3.2. Liquid
- 9.3.3. Dried leaves
9.4. Current Market Size (US$ Bn) Forecast By Nature, 2024 - 2031
- 9.4.1. Organic
- 9.4.2. Conventional
9.5. Current Market Size (US$ Bn) Forecast By End Use, 2024 - 2031
- 9.5.1. Food and Beverage
  - 9.5.1.1. Bakery and Confectionery
  - 9.5.1.2. Dairy Products
  - 9.5.1.3. Beverages
  - 9.5.1.4. Others
- 9.5.2. Dietary Supplements
- 9.5.3. Household/Retail
- 9.5.4. Others
9.6. Current Market Size (US$ Bn) Forecast By Distribution Channel, 2024 - 2031
- 9.6.1. Business to Business
- 9.6.2. Business to Consumer
  - 9.6.2.1. Hypermarkets/Supermarkets
  - 9.6.2.2. Convenience Stores
  - 9.6.2.3. Online Retail
  - 9.6.2.4. Others
9.7. Market Attractiveness Analysis

10. South Asia & Oceania Stevia Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

10.1. Historical Market Size (US$ Bn) Analysis By Market, 2019 - 2023
- 10.1.1. By Country
- 10.1.2. By Form
- 10.1.3. By Nature
- 10.1.4. By End Use
- 10.1.5. By Distribution Channel
10.2. Current Market Size (US$ Bn) Forecast By Country, 2024 - 2031
- 10.2.1. India
- 10.2.2. Southeast Asia
- 10.2.3. ANZ
- 10.2.4. Rest of South Asia & Oceania
10.3. Current Market Size (US$ Bn) Forecast By Form, 2024 - 2031
- 10.3.1. Powder
- 10.3.2. Liquid
- 10.3.3. Dried leaves
10.4. Current Market Size (US$ Bn) Forecast By Nature, 2024 - 2031
- 10.4.1. Organic
- 10.4.2. Conventional
10.5. Current Market Size (US$ Bn) Forecast By End Use, 2024 - 2031
- 10.5.1. Food and Beverage
  - 10.5.1.1. Bakery and Confectionery
  - 10.5.1.2. Dairy Products
  - 10.5.1.3. Beverages
  - 10.5.1.4. Others
- 10.5.2. Dietary Supplements
- 10.5.3. Household/Retail
- 10.5.4. Others
10.6. Current Market Size (US$ Bn) Forecast By Distribution Channel, 2024 - 2031
- 10.6.1. Business to Business
- 10.6.2. Business to Consumer
  - 10.6.2.1. Hypermarkets/Supermarkets
  - 10.6.2.2. Convenience Stores
  - 10.6.2.3. Online Retail
  - 10.6.2.4. Others
10.7. Market Attractiveness Analysis

11. Latin America Stevia Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

11.1. Historical Market Size (US$ Bn) Analysis By Market, 2019 - 2023
- 11.1.1. By Country
- 11.1.2. By Form
- 11.1.3. By Nature
- 11.1.4. By End Use
- 11.1.5. By Distribution Channel
11.2. Current Market Size (US$ Bn) Forecast By Country, 2024 - 2031
- 11.2.1. Brazil
- 11.2.2. Mexico
11.3. Current Market Size (US$ Bn) Forecast By Form, 2024 - 2031
- 11.3.1. Powder
- 11.3.2. Liquid
- 11.3.3. Dried leaves
11.4. Current Market Size (US$ Bn) Forecast By Nature, 2024 - 2031
- 11.4.1. Organic
- 11.4.2. Conventional
11.5. Current Market Size (US$ Bn) Forecast By End Use, 2024 - 2031
- 11.5.1. Food and Beverage
  - 11.5.1.1. Bakery and Confectionery
  - 11.5.1.2. Dairy Products
  - 11.5.1.3. Beverages
  - 11.5.1.4. Others
- 11.5.2. Dietary Supplements
- 11.5.3. Household/Retail
- 11.5.4. Others
11.6. Current Market Size (US$ Bn) Forecast By Distribution Channel, 2024 - 2031
- 11.6.1. Business to Business
- 11.6.2. Business to Consumer
  - 11.6.2.1. Hypermarkets/Supermarkets
  - 11.6.2.2. Convenience Stores
  - 11.6.2.3. Online Retail
  - 11.6.2.4. Others
11.7. Market Attractiveness Analysis

12. Middle East & Africa Stevia Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

12.1. Historical Market Size (US$ Bn) Analysis By Market, 2019 - 2023
- 12.1.1. By Country
- 12.1.2. By Form
- 12.1.3. By Nature
- 12.1.4. By End Use
- 12.1.5. By Distribution Channel
12.2. Current Market Size (US$ Bn) Forecast By Country, 2024 - 2031
- 12.2.1. GCC
- 12.2.2. South Africa
- 12.2.3. Northern Africa
12.3. Current Market Size (US$ Bn) Forecast By Form, 2024 - 2031
- 12.3.1. Powder
- 12.3.2. Liquid
- 12.3.3. Dried leaves
12.4. Current Market Size (US$ Bn) Forecast By Nature, 2024 - 2031
- 12.4.1. Organic
- 12.4.2. Conventional
12.5. Current Market Size (US$ Bn) Forecast By End Use, 2024 - 2031
- 12.5.1. Food and Beverage
  - 12.5.1.1. Bakery and Confectionery
  - 12.5.1.2. Dairy Products
  - 12.5.1.3. Beverages
  - 12.5.1.4. Others
- 12.5.2. Dietary Supplements
- 12.5.3. Household/Retail
- 12.5.4. Others
12.6. Current Market Size (US$ Bn) Forecast By Distribution Channel, 2024 - 2031
- 12.6.1. Business to Business
- 12.6.2. Business to Consumer
  - 12.6.2.1. Hypermarkets/Supermarkets
  - 12.6.2.2. Convenience Stores
  - 12.6.2.3. Online Retail
  - 12.6.2.4. Others
12.7. Market Attractiveness Analysis

13. Competition Landscape

13.1. Market Share Analysis, 2023
13.2. Market Structure
- 13.2.1. Competition Intensity Mapping By Market
- 13.2.2. Competition Dashboard
- 13.2.3. Tier Structure Analysis
- 13.2.4. Regional Presence Analysis
13.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 13.3.1. ADM
  - 13.3.1.1. Overview
  - 13.3.1.2. Segments and Products
  - 13.3.1.3. Key Financials
  - 13.3.1.4. Market Developments
  - 13.3.1.5. Market Strategy
- 13.3.2. PureCircle
- 13.3.3. Wisdom Natural Brands
- 13.3.4. Van Wankum Ingredients
- 13.3.5. Whole Earth Sweetener Co., LLC
- 13.3.6. SOPURE STEVIA
- 13.3.7. SteviaPac Food Innovation
- 13.3.8. Xinghua GL Stevia Co., Ltd
- 13.3.9. Frontier Co-op.
- 13.3.10. Nature's Answer
- 13.3.11. Steviva Brands
- 13.3.12. Swanson
- 13.3.13. Others

14. Appendix

14.1. Research Methodology
14.2. Research Assumptions
14.3. Acronyms and Abbreviations