According to the latest report by IMARC Group, titled “Stevia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” offers a comprehensive analysis of the industry, which comprises insights on stevia market statistics. The report also includes competitor and regional analysis, and contemporary advancements in the global market. 

The global stevia market size reached US$ 763.0 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,438.3 Million by 2032, exhibiting a growth rate (CAGR) of 7.1% during 2024-2032.

Stevia Market Overview:

Stevia is a natural sweetener derived from the leaves of the Stevia rebaudiana plant, native to South America. Unlike conventional sugar, stevia offers sweetness without the calories, making it a popular choice for individuals seeking healthier alternatives. The manufacturing process involves extracting the sweet compounds, known as steviol glycosides, primarily stevioside, and rebaudioside, from the plant leaves. Its significance lies in its ability to provide a sweet taste without the added calories or adverse health effects associated with refined sugars, benefiting those with diabetes, obesity, or those simply monitoring their caloric intake. The benefits of stevia extend beyond its low-caloric attribute; it is non-glycemic, meaning it does not spike blood sugar levels, and it possesses certain medicinal properties, such as anti-inflammatory and anti-diabetic effects.

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Global Stevia Market Trends:

The global market is primarily driven by the rising awareness and consumer demand for natural, low-calorie sweeteners are paramount, fueling the adoption of stevia across food and beverage industries. Additionally, the growing clean-label movement, emphasizing transparency in ingredient sourcing and formulation, further bolstering market growth. Moreover, continual technological advancements in stevia cultivation and extraction processes have enhanced its taste profile and economic feasibility, expanding its applicability in various sectors is contributing to market expansion. Furthermore, the growing inclination towards plant-based and sustainable products with stevia being perceived as an environmentally friendly alternative to synthetic sweeteners is propelling the market forward. In line with this, the rising stringent regulatory approvals across numerous countries have facilitated its global trade and acceptance, establishing stevia as a key player in the sweetener market, further driving market growth.

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Competitive Landscape with Key Players:

  • Archer-Daniels-Midland Company
  • Cargill Incorporated
  • GLG Life Tech Corporation
  • Guilin Layn Natural Ingredients Corp.
  • Hunan NutraMax Inc.
  • Ingredion Incorporated
  • Morita Kagaku Kogyo Co. Ltd.
  • Pyure Brands LLC
  • Sunwin Stevia International Inc
  • Tate & Lyle PLC
  • The Real Stevia Company AB
  • Wisdom Natural Brands
  • Zhucheng Haotian Pharm Co. Ltd.

Key Market Segmentation:

Breakup by Extract Type:

  • Powder
  • Liquid
  • Leaf

Breakup by End Use:

  • Beverages
  • Food Products
  • Table Top Sweeteners
  • Pharmaceuticals
  • Others

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

  • Market Performance
  • Market Outlook
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Who we are:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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