Global Stevia Market Research Report 2024

Stevia Market 

The global Stevia market was valued at US$ 597.2 million in 2023 and is anticipated to reach US$ 1016.5 million by 2030, witnessing a CAGR of 7.8% during the forecast period 2024-2030.

The increasing use of stevia in the pharmaceutical and cosmetics industry will fuel the growth of the stevia market in the coming years. Rapid product innovations and covid 19 have increased consumption of healthy dietary supplements which will spur market growth during the forecast period.

Trends Influencing the Global Stevia Market 

The popularity of natural low-calorie sweeteners

The increasing number of chronic diseases such as diabetes, hypertension, and the harmful effects of refined sugar or artificial sweeteners have prompted consumers to shift towards healthier alternatives. Companies are using stevia in food and beverages to cater to the needs of a growing health-conscious consumer base. Stevia is a low-calorie sweetener extracted from the stevia rebaudiana plant. It contains stevioside and reb-A elements which are a hundred times sweeter than sugar but have zero calories. These factors will surge the growth of the stevia market in the coming years. 

Rising use for medical and skincare purposes 

Stevia is used in drug formulation and for special nutritional requirements. It has antimicrobial, antioxidant, antidiabetic, and antihypertensive properties.  Stevia extracts can be used for treating high blood pressure, depression, gastric issues, ulcers, or yeast infections. They are readily available to consume either in granular or powdered form. Furthermore, the plant can be useful in making skin soft, supple, and irritation-free. It removes wrinkles and nourishes the skin. Thus the widespread application will fuel the growth of the stevia market during the forecast period.

Covid 19 and rising innovations

Key players are innovating rapidly to retain the competitive edge in the market. Beverages, coffee sweeteners, snacks, confectioneries, baked goods are being made with steviol glycosides for providing that perfect substitute for artificial sugar and retaining the taste at the same time. Moreover, covid 19 has raised critical health concerns driving consumers towards healthier food choices. Hence people have started consuming stevia-based products and dietary supplements for boosting immunity. This in turn is expected to spur the growth of the stevia market in the subsequent years.

Stevia Market Share Analysis

North American market for Stevia is estimated to increase from $ million in 2023 to reach $ million by 2030, at a CAGR of % during the forecast period of 2024 through 2030.

Asia-Pacific market for Stevia is estimated to increase from $ million in 2023 to reach $ million by 2030, at a CAGR of % during the forecast period of 2024 through 2030.

Stevia Market By Type

• Reb-A Series
• STV Series
• Glucosyl Stevia
• Reb M
• Reb D

Stevia Market By Application

• Health Care Products
• Food
• Beverage
• Pharmaceutical Industry
• Cosmetics
• Others

Stevia Market By Region

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• South Korea
• India
• Southeast Asia
• Australia
• Rest of Asia-Pacific
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Nordic Countries
• Rest of Europe
• Latin America
• Mexico
• Brazil
• Rest of Latin America
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE
• Rest of MEA

Stevia Marke By Company

• Purecircle Limited
• Qufu Xiangzhou Stevia
• Layn
• Zhucheng Haotian
• Cargill (Evolva)
• Sunwin Stevia International
• GLG Life Tech
• Tate & Lyle
• Morita Kagakau Kogyo
• Tianjin Jianfeng
• Hunan NutraMax
• HuZhou LiuYin Biological