Stevia Sugar Market is expected to display higher growth rate over the next five years. Rapid surge in the market is credited to the rising demand for low-calorie sweeteners and increasing number of diabetic patients worldwide. Growing prevalence of chronic diseases is the key industry trend fostering the growth of the market in the past few years. Globally, market is predicted to generate massive revenue over next five years, providing numerous opportunities for industry participants to invest in research and development of stevia sugar.
Stevia sugar consists of rebaudioside-A and stevioside molecules that creates high degree of sweetness. Stevia sugar does not have any side effects on human health. These factors are expected to drive the growth of stevia sugar market over the forecast period. Stevia is considered as the natural sugar substitute. Stevia sugar is derived from herbal plant called stevia rebaudiana. These plants are particularly found in Latin America region. Presence of glycosides is key component responsible for high degree of sweetness.
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Increasing use of stevia sugar for production of confectionery, biscuits, chocolates, and other baking products is expected to drive the growth of the market in the upcoming years. The rising consumer base in Asia Pacific and Latin America region and availability of several distribution channels is expected to favour market growth as well. Europe and North America is also considered as relatively larger markets due to higher product penetration in the beverages industry.
The stevia sugar market is broadly categorized into major four segments based on the application type such as beverage, processed food, pharmaceuticals and tabletop sweeteners. Pharmaceuticals segment is growing rapidly in the market with substantial revenue generation in the last few years. Growing popularity of stevia sugar in pharmaceuticals segment is attributed to the increasing number of patient suffering from diabetic disorders. Beverage segment has also witnessed substantial growth owing to the increasing consummation of sugar-free beverages and changing lifestyle.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in pharmaceuticals, surge in number of research & development activities in the region and existence of well-established manufacturing infrastructure. In European region, Germany, France, and United Kingdom are projected to witness steady growth.
Asia-Pacific region is estimated to hold major share in the stevia sugar industry with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, rising number of diabetic patients, changing food habits, rising disposable income, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the stevia sugar market are Evolva Holding S.A., Cargill, Inc., Stevia Corp., PureCircle Ltd., Ingredion Inc., Tate & Lyle plc, The Coca-Cola Co., GLG Life Tech Co., and PepsiCo Inc.
