Stevia is a natural, zero-calorie sweetener extracted from the leaves of the Stevia plant. It is approximately 200-300 times sweeter than sugar and does not cause a spike in blood sugar levels. Stevia aids in weight management and has therapeutic properties to manage diseases like hypertension and diabetes. It is widely used as a table top sweetener and in various food and beverage applications as a sugar substitute. The global stevia market offers immense growth opportunities owing to the rising health awareness about artificial sweeteners and preference for natural ingredients.

The Global Stevia Market is estimated to be valued at US$1.5 billion in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024-2032.

Key Takeaways

Key players operating in the Stevia market are Cargill, Incorporated, PureCircle, Tate & Lyle PLC, Archer Daniels Midland Company, Sunwin Stevia International, Inc., S&W Seed Company.

The key opportunities in the Stevia Market demand include expanding applications in food and beverages, innovative product and extract development, and investments in stevia farms. Technological advancements include development of new stevia cultivars with improved taste and efficiency, extraction techniques for purer and more concentrated extracts.

Market drivers: The increasing prevalence of diabetes and obesity is driving the demand for low-calorie natural sweeteners. Stevia helps manage blood sugar levels and aids weight loss. stringent regulations on artificial sweeteners and consumer shift towards clean label products are prompting food makers to use stevia. Growing health-conscious population globally is a major growth driver for the natural sweetener.

Current challenges in Stevia Market
The stevia market faces various challenges due to the presence of alternative low-calorie sweeteners and the lack of awareness about stevia's health benefits. Unlike sugar substitutes like aspartame and sucralose, stevia is a natural plant-based sweetener. However, consumer perception of its sweetness and bitter aftertaste remains a major issue. Further research and product innovation are required to enhance stevia's taste and sensory attributes. The COVID-19 pandemic has also disrupted the supply chains and demand for stevia across various end-use industries in 2020.

Get more insights on Stevia Market