Worldwide Stevia Industry to 2029 – Featuring Cargill, Ingredion, Tate & Lyle and GLG Life Tech Among Others – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Stevia Market – Global Industry Analysis (2019 – 2021) – Growth Trends and Market Forecast (2022 – 2029)” report has been added to ResearchAndMarkets.com’s offering.
The worldwide sugar reduction fallout was one of the first factors driving markets for healthy artificial sweeteners. Global stevia market specifically gained significantly from the increased rate of adoption across beverage categories like sodas, juices, and flavored water varieties.
A newly published study from the analyst forecasts a robust growth outlook for global stevia market. The market according to the report will rise high, up from nearly US$780 Million attained in the year 2021, to around US$1,621 Million toward the end of 2029. Escalating demand for nutraceuticals will keep stevia consumption upbeat, in turn fueling the expansion of global stevia market, says the report.
Key Insights and Trends Across Global Stevia Market
- Escalating demand for nutraceuticals will favor the growth of stevia market
- Global stevia market size is slated for around 9.6% expansion in terms of revenue between 2022 and 2029
- Asia Pacific will most likely remain the leading regional market for stevia brands and demonstrate the fastest rate of growth through the end of 2029
- The uncertainty hovering over the pricing of stevia leaf prevails as the key impediment for rapid market growth
Stevia Market Players to See Lucrative Opportunities Flock Food and Beverages Industry
Stevia leaf extracts are currently among the most popular sweeteners and frequent innovation around the same will unlock multiple opportunities across several other F&B categories during the forecast period. The report suggests that the stevia market will remain on an uptrend in line with growing usage of stevia-based sweeteners for new launches in industry.
While the traditional sweetening agents have been facing remarkable backlash over the past decade, F&B sectors like beverages, dairy, confectionary, and bakery have been rapidly shifting their preferences toward stevia. Besides their economic benefit, traditional sweeteners continue to be in the race with their ease of use during processing, and widespread availability.
However, stevia-based formulations of sweetened products are touted to be superior in terms of sweetness, texture, mouthfeel, crystallization, flavor, shelf-life, colour, and flavor. Stevia market has thus been making inroads into the food and beverages industry, says the report.
Asia Pacific Holds the Promise to Unlock Multiple Opportunities for Stevia Market
Health concerns around sugar consumption prevail worldwide, which has also been influencing conventional sweetening agents that are typically used by processed food and beverage manufacturers. Stevia has thus been penetrating faster across the processed F&B sector, especially in Asia Pacific.
Stevia market in the region is expected to thrive at a notable pace and the report clearly attributes this growth to frequent new launches, and growing awareness about lifestyle diseases like obesity and IBD. The expanding health food culture across the key Asian markets, and rising performance of healthy F&B categories are projected to provide the stevia market in the region with a strong impetus, suggests the report. China remains the world’s largest producer and importer.
Companies Mentioned
- Cargill
- Ingredion Incorporated
- Tate & Lyle Plc
- PureCircle Ltd
- GLG Life Tech Corporation
- Archer Daniels Midland Company
- Sudzucker AG
- Sunwin Stevia International Inc
- ORITA KAGAKU KOGYO CO., LTD.
- The Real Stevia Company AB
For more information about this report visit https://www.researchandmarkets.com/r/3xz43y
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