Million Insights
Market Research Released A New Research Report On Global Stevia Market -
Forecast Up To 2025. Report Provide Overview Of Top Key Players, Share
Analysis, Size, Stake, Progress, Trends And Their Strategic Profiling In The
Market, Comprehensively Analyzing Their Core Competencies, And Drawing A
Competitive Landscape For The Market.
Pune, India - Stevia Market size is likely to
reach USD 553.7 million by 2024 and is anticipated to grow at a CAGR of 6.1%
during the forecast period. Rising popularity of stevia owing to its superior
sweetening properties, and its ability to restrict any contrary effects on the
fitness of the consumers is thrusting the industry growth over the next nine
years. The food sector is expected to remain one of the most vital segments of
this market owing to the increasing demand for low-calorie substitute products.
The increase in consumer awareness concerning consumption of healthy nourishment
will ultimately lead to the rise in the penetration of stevia in confectionary
and bakery products.
Promotion to use stevia in different forms such as powered
and dried drives the positive perception of the food and beverage sector in
countries such as Vietnam, Singapore, China, South Korea and Japan on account
of growing acceptance of stevia-based compounds and new product launches. In
addition, the rise in the awareness of consumers towards fitness routine has
also caused various carbonated drink producers which consist of The Coca-Cola
Company to announce the stevia based product in their product line of soft
drinks, which also helped them to widen their consumer base.
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visit @ https://www.millioninsights.com/industry-reports/stevia-market/request-sample
In terms of total volume, the beverage was the primary
application industry accounting for over 34.8% in 2015. Increasing demand for
juices, carbonated drinks, and low-calorie beverages is anticipated to cause
the expansion of stevia market over the next nine years.
A significant share of 22.2% global volume for tabletop
sweeteners was projected as the third major industry. Artificial sugar is
expected to be replaced by stevia-based sweeteners in this sector over the
forecast period to cater consumers with diseases such as diabetes.
Another important segment of the market is pharmaceutical
industry. Superior medicinal abilities such as its capacity to control obesity
and blood pressure along with healing of injuries and wounds are presumed to
open new growth opportunities soon.
Regional Insights
In terms of global volume share, Asia Pacific was the major
market which accounted for 35.3%. Stevia-based sweeteners has been a
substantial part of the diet regime of consumers for a significant period which
resulted in the broad acceptance in these countries such as South Korea, China,
and Japan. Developing nations such as Malaysia, India, Indonesia, and Thailand
are predicted to be the important markets for stevia on account of the growing
food and beverage industry.
North America and Europe are anticipated to experience a
substantial growth at CAGR of 4.5% and 4.3% respectively, over the forecast
period. Latest approvals by the FDA regarding the product will have a positive
impact on the total market and thus improve the penetration of stevia-based
products.
Competitive Insights
With extensive coverage areas and large manufacturing
capacities, the market is dominated by a limited number of players. On account
of a firm foothold in application sector together with essential infrastructure
for research and development, Evolva Holding S.A, GLG Life Tech Corp., Tate
& Lyle Plc., Pure Circle Ltd. and Cargill Inc., are projected to lead the
market.
To Browse Complete
Report visit @ https://www.millioninsights.com/industry-reports/stevia-market
Market Segment:
Application Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
• Beverage
• Food
• Pharmaceuticals
• Tabletop sweeteners
• Others
Regional Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)
• North America
• U.S.
• Europe
• Germany
• Asia Pacific
• China
• Japan
• South Korea
• Latin America
• Brazil
• Middle East & Africa (MEA)
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