Stevia Market is anticipated to grow at a considerable CAGR of 9.4% during the forecast period. The beverage industry in the US is flourishing, owing to a strong export and import sector, a big client base, and rising affordability. Soft drink sales represent one of the fastest-growing categories of the beverage market in the US. According to the Beverage Digest, carbonated soft drink sales accounted for $2.9 billion of the nation’s $146 billion beverage market in 2019. Coca-Cola Zero Sugar was declared the fastest growing soft drink in the survey, with an 11.5% increase in retail value and an 8% increase in volume.
Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in November 2018, Cargill Inc announced a partnership with Royal DSM to produce highly sought-after sweet-tasting molecules such as steviol glycosides Reb M and Reb D through fermentation, providing food and beverage manufacturers with an even more scalable, sustainable, and low cost-in-use solution under the EverSweet brand. Further, in March 2019, Tate & Lyle announced its partnership with Sweet Green Fields (SGF) to introduce ZOLESSE, a glucosylated stevia extract labelled as a natural flavor. ZOLESSE, a new natural flavour is an effort to enable food and beverage companies produce great-tasting products that match rising customer demand for clean-label ingredients at a lower cost than alternatives.
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Market Coverage
- The market number available for – 2023-2030
- Base year- 2023
- Forecast period- 2024-2030
Segment Covered-
- By Product form
- By Application
Regions Covered
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– GLG Life Tech Corp., Ingredion Inc, Tate & Lyle PLC, The Coca-Cola Co, PepsiCo Inc., Cargill Inc., Evolva Holding S.A.
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Global Stevia Market Report by Segment
By Product Form
- Powder
- Liquid
- Leaf
By Application
- Bakery
- Dairy Food Products
- Beverages
- Dietary Supplements
- Confectionery
- Others (Convenience foods)
Stevia Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- Archer Daniels Midland Company
- Cargill Inc
- Evolva Holding SA
- GLG Life Tech Corporation
- Guilin Layn Natural Ingredients Corp
- Haihang Indsutry Co
- Hyet Sweet BV
- Ingredion Inc
- Koninklijke DSM NV
- Morita Kagakau Kogyo Co. Ltd.
- PepsiCo Inc.
- Purecircle Limited
- PureCircle Ltd
- Pyure Brands LLC
- S&W Seed Company
- Stevia Biotech Pvt Ltd
- Sunwin Stevia International, Inc.
- Tate & Lyle PLC
- Van Wankum Ingredients BV
- Zhucheng Haotian Pharm Co. Ltd
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