What is Global Stevia Extract Market?
The Global Stevia Extract Market is a fascinating and rapidly evolving sector. Stevia extract, derived from the leaves of the Stevia rebaudiana plant, is a natural, zero-calorie sweetener that is growing in popularity worldwide. This market encompasses the production, distribution, and sale of various forms of stevia extract, including powders, liquids, and granulated forms. The market's value was estimated at US$ 514.5 million in 2022, and it is projected to grow significantly in the coming years. The primary drivers of this growth include increasing consumer awareness about the health benefits of stevia extract, such as its ability to help manage blood sugar levels, and its growing use in a variety of food and beverage products. However, the market also faces challenges, such as regulatory hurdles in some regions and competition from other natural sweeteners. Despite these challenges, the Global Stevia Extract Market is expected to continue its upward trajectory, offering numerous opportunities for businesses and investors.
Reb A, Reb M, Reb D, Others in the Global Stevia Extract Market:
The Global Stevia Extract Market is segmented based on the type of stevia extract, including Reb A, Reb M, Reb D, and others. Reb A, or Rebaudioside A, is the most common type of stevia extract and accounted for 95.24% of global sales volume. It is known for its high sweetness level and minimal aftertaste, making it a popular choice for use in food and beverage products. Reb M and Reb D, or Rebaudioside M and D, are less common but are gaining attention for their superior taste profiles. These types of stevia extract are often used in premium products or in blends with Reb A to improve the overall taste. Other types of stevia extract include various minor steviol glycosides, which are less sweet but can contribute to a more rounded sweetness profile. Each type of stevia extract has its unique characteristics and potential uses, contributing to the diversity and dynamism of the Global Stevia Extract Market.
Foods & Beverage, Pharmaceutical, Cosmetics, Others in the Global Stevia Extract Market:
The Global Stevia Extract Market finds its application in various sectors including Foods & Beverage, Pharmaceutical, Cosmetics, and others. In the Foods & Beverage industry, stevia extract is used as a natural, zero-calorie sweetener in a wide range of products, from soft drinks and juices to baked goods and confectionery. Its ability to withstand heat makes it suitable for cooking and baking, while its stability in acidic environments makes it ideal for use in beverages. In the Pharmaceutical industry, stevia extract is used in certain medications and health supplements due to its potential health benefits. In the Cosmetics industry, stevia extract is used in certain skincare and haircare products for its purported anti-inflammatory and antioxidant properties. Other uses of stevia extract include its use as a sweetener in animal feed and as a flavor enhancer in certain tobacco products. The versatility of stevia extract and its growing acceptance among consumers are driving its use in these and other sectors.
Global Stevia Extract Market Outlook:
To put the Global Stevia Extract Market into perspective, in 2022, the market was valued at US$ 514.5 million. However, it is not expected to remain stagnant. By 2029, the market is projected to reach a value of US$ 787.8 million. This represents a Compound Annual Growth Rate (CAGR) of 6.2% from 2023 to 2029. The primary type of Stevia Extract, Reb A, has been a significant contributor to this growth, accounting for 95.24% of the global sales volume. This data provides a snapshot of the current state of the Global Stevia Extract Market and its potential for growth in the coming years.
| Report Metric | Details |
| Report Name | Stevia Extract Market |
| Accounted market size in 2022 | US$ 514.5 million |
| Forecasted market size in 2029 | US$ 787.8 million |
| CAGR | 6.2% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Purecircle Limited, CCGB, Layn, Zhucheng Haotian Pharm Co. Ltd, Cargill (Evolva), Sunwin Stevia International, Inc., GLG Life Tech, Tate & Lyle, Morita Kagakau Kogyo Co. Ltd., INGIA Biotechnology, Zhongda Hengyuan Biotech, Hunan NutraMax Inc. |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
