The Global Stevia Market size is expected to reach $1.5 billion by 2031, rising at a market growth of 7.8% CAGR during the forecast period. In the year 2023, the market attained a volume of 12,488.77 tonnes, experiencing a growth of 11.5% (2020-2023).
To meet the demands of health-conscious consumers, food and beverage companies are integrating stevia into an extensive array of products, such as baked goods, confectionery, dairy, and beverages. Thus, the food and beverage segment acquired $289.77 million in 2023. Also, the Canada market would consume 271.20 tonnes of stevia in food and beverage segment. Soft drink manufacturers are reformulating their products to reduce sugar content and appeal to health-conscious consumers. Stevia offers an ideal solution for achieving sweetness without the added calories of sugar.
Stevia offers sweetness without the calories. Stevia is virtually devoid of calories, as opposed to sugar, which is abundant in calories and has been linked to adverse health effects, including weight gain. This makes it an attractive option for individuals looking to reduce their calorie intake, manage their weight, or maintain a healthier diet. Thus, these factors can help in the growth of the market.
Additionally, Stevia's plant-based origin resonates with consumers looking for clean-label options closer to nature. An essential characteristic of stevia is its capacity to impart sweetness to products while preventing the addition of calories. Hence, these aspects will pose lucrative growth prospects for the market.
However, many consumers have grown accustomed to the taste of sugar and may find stevia's flavor profile to be noticeably different. The perceived aftertaste or bitterness of stevia can be off-putting to individuals accustomed to sugar's clean sweetness, leading them to prefer traditional sweeteners over Stevia-based alternatives. Therefore, these aspects can restrain the growth of the market.
Distribution Channel Outlook
Based on distribution channel, the market is divided into offline and online. In 2023, the offline segment witnessed a 64% revenue share in the market. In terms of volume, the offline segment would consume 15,120.56 tonnes of stevia by 2031. The growing popularity of stevia as a natural sweetener has led to increased retail presence and shelf space in stores worldwide.
Form Outlook
Based on form, the market is segmented into powder, liquid, and leaf. In 2023, the liquid segment garnered a significant 36% revenue share in the market. In terms of volume, the liquid segment would consume 6,691.18 tonnes of stevia by 2031. Liquid stevia products offer convenience and ease of use, allowing consumers to precisely control the sweetness level in beverages, foods, and recipes. The liquid form allows easy mixing and blending, making it suitable for various applications, including beverages, smoothies, baked goods, and desserts. Therefore, owing to these factors, there will be enhanced demand in the segment.
End User Outlook
On the basis of end user, the market is divided into food & beverages, pharmaceuticals, retail and others. The food and beverages segment recorded 34.3% revenue share in the market in 2023. In terms of volume, the food and beverages segment would consume 4,319.86 tonnes of stevia by 2031. As governments and public health organizations implement measures to address rising obesity rates and sugar-related health issues, there is growing demand for low-calorie and sugar-free options in the food and beverage industry.
Type Outlook
By type, the market is segmented into reb A, reb M, and reb D. In 2023, the reb M segment acquired a considerable 31% revenue share in the market. In terms of volume, the reb M segment would consume 8,258.93 tonnes of stevia by 2031. Consumers are increasingly seeking natural ingredients with minimal processing. Reb M fits this trend perfectly as it is derived from the stevia leaf and is perceived as a more natural alternative to artificial sweeteners.
Regional Outlook
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured a 38.4% revenue share in the market in 2023. In terms of volume, the Asia Pacific region would consume 10,580.98 tonnes of stevia by 2031. In recent years, as a result of rising obesity rates and other associated health issues (e.g., cardiovascular disease, diabetes), consumers in Asia Pacific have become more health conscious. As a result, there is a growing preference for healthier dietary choices, including reduced sugar consumption. Hence, the segment will grow rapidly in the coming years.
Recent Strategies Deployed in the Market
- 2024-Feb: Tate & Lyle PLC came into partnership with Cryptobiotix, pioneers in preclinical gastrointestinal research. With this partnership, the company aimed to advance understanding regarding the role of low and no-calorie sweeteners in the diet.
- 2023-Mar: Tate & Lyle PLC signed a distribution partnership with IMCD, a large distributor of pharmaceutical ingredients and excipients. Through this partnership, the company aimed to expand its offering of sweetening, texture, stabilization, and fortification solutions to the food, beverage, nutrition, and supplement industries in Brazil.
- 2023-Jul: Tate & Lyle PLC revealed a new addition to its sweetener portfolio - TASTEVA SOL Stevia Sweetener. This innovation, internationally patent protected, represents a breakthrough in stevia technology. It enhances Tate & Lyle's capacity to assist customers in resolving stevia solubility challenges in food and beverages, thus fulfilling consumer demand for healthier and more flavorful products with reduced sugar and calories.
- 2022-Nov: Tate & Lyle PLC unveiled ERYTESSE Erythritol, a new addition to its sweetener portfolio. With this launch, the company expands its ability to assist customers in meeting consumer demand for healthier, sugar, and calorie-reduced products, and it extends Tate & Lyle's position as the world leader in ingredient solutions for healthier food and beverages. ERYTESSE(TM) Erythritol possesses a clean taste and bulking properties that render it ideal for aiding manufacturers in meeting this demand, thus strengthening Tate & Lyle's existing sweetening toolbox, as well as its overall portfolio.
- 2021-Sep: Ingredion Incorporated signed an agreement with S&W Seed Company, an agricultural seed technology company. Under this agreement, S&W will utilize its proprietary stevia plant portfolio and production techniques in order to provide Ingredion and its subsidiary PureCircle with high-quality stevia plants sourced from the United States.
List of Key Companies Profiled
- Ingredion Incorporated
- Tate & Lyle Plc
- The Coca Cola Company
- PepsiCo, Inc.
- Archer Daniels Midland Company
- Pyure Brands, LLC
- Cargill, Incorporated
- S&W Seed Company
- Morita Kagaku Kogyo Co., Ltd.
- Evolva Holdings SA
Global Stevia Market Report Segmentation
By Distribution Channel (Volume, Tonnes, USD Billion, 2020-2031)
By Form (Volume, Tonnes, USD Billion, 2020-2031)
By End User (Volume, Tonnes, USD Billion, 2020-2031)
- Food & Beverages
- Retail
- Pharmaceuticals
- Others
By Type (Volume, Tonnes, USD Billion, 2020-2031)
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1Global Stevia Market, by Distribution Channel
- 1.4.2Global Stevia Market, by Form
- 1.4.3Global Stevia Market, by End User
- 1.4.4Global Stevia Market, by Type
- 1.4.5Global Stevia Market, by Geography
- 1.5Methodology for the research
Chapter 2.Market at a Glance
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
- 3.3Porter's Five Forces Analysis
Chapter 4.Global Stevia Market by Distribution Channel
- 4.1Global Offline Market by Region
- 4.2Global Online Market by Region
Chapter 5.Global Stevia Market by Form
- 5.1Global Powder Market by Region
- 5.2Global Liquid Market by Region
- 5.3Global Leaf Market by Region
Chapter 6.Global Stevia Market by End User
- 6.1Global Food & Beverages Market by Region
- 6.2Global Retail Market by Region
- 6.3Global Pharmaceuticals Market by Region
- 6.4Global Others Market by Region
Chapter 7.Global Stevia Market by Type
- 7.1Global Reb A Market by Region
- 7.2Global Reb M Market by Region
- 7.3Global Reb D Market by Region
Chapter 8.Global Stevia Market by Region
- 8.1North America Stevia Market
- 8.1.1North America Stevia Market by Distribution Channel
- 8.1.1.1North America Offline Market by Region
- 8.1.1.2North America Online Market by Region
- 8.1.2North America Stevia Market by Form
- 8.1.2.1North America Powder Market by Country
- 8.1.2.2North America Liquid Market by Country
- 8.1.2.3North America Leaf Market by Country
- 8.1.3North America Stevia Market by End User
- 8.1.3.1North America Food & Beverages Market by Country
- 8.1.3.2North America Retail Market by Country
- 8.1.3.3North America Pharmaceuticals Market by Country
- 8.1.3.4North America Others Market by Country
- 8.1.4North America Stevia Market by Type
- 8.1.4.1North America Reb A Market by Country
- 8.1.4.2North America Reb M Market by Country
- 8.1.4.3North America Reb D Market by Country
- 8.1.5North America Stevia Market by Country
- 8.1.5.1US Stevia Market
- 8.1.5.1.1US Stevia Market by Distribution Channel
- 8.1.5.1.2US Stevia Market by Form
- 8.1.5.1.3US Stevia Market by End User
- 8.1.5.1.4US Stevia Market by Type
- 8.1.5.2Canada Stevia Market
- 8.1.5.2.1Canada Stevia Market by Distribution Channel
- 8.1.5.2.2Canada Stevia Market by Form
- 8.1.5.2.3Canada Stevia Market by End User
- 8.1.5.2.4Canada Stevia Market by Type
- 8.1.5.3Mexico Stevia Market
- 8.1.5.3.1Mexico Stevia Market by Distribution Channel
- 8.1.5.3.2Mexico Stevia Market by Form
- 8.1.5.3.3Mexico Stevia Market by End User
- 8.1.5.3.4Mexico Stevia Market by Type
- 8.1.5.4Rest of North America Stevia Market
- 8.1.5.4.1Rest of North America Stevia Market by Distribution Channel
- 8.1.5.4.2Rest of North America Stevia Market by Form
- 8.1.5.4.3Rest of North America Stevia Market by End User
- 8.1.5.4.4Rest of North America Stevia Market by Type
- 8.2Europe Stevia Market
- 8.2.1Europe Stevia Market by Distribution Channel
- 8.2.1.1Europe Offline Market by Country
- 8.2.1.2Europe Online Market by Country
- 8.2.2Europe Stevia Market by Form
- 8.2.2.1Europe Powder Market by Country
- 8.2.2.2Europe Liquid Market by Country
- 8.2.2.3Europe Leaf Market by Country
- 8.2.3Europe Stevia Market by End User
- 8.2.3.1Europe Food & Beverages Market by Country
- 8.2.3.2Europe Retail Market by Country
- 8.2.3.3Europe Pharmaceuticals Market by Country
- 8.2.3.4Europe Others Market by Country
- 8.2.4Europe Stevia Market by Type
- 8.2.4.1Europe Reb A Market by Country
- 8.2.4.2Europe Reb M Market by Country
- 8.2.4.3Europe Reb D Market by Country
- 8.2.5Europe Stevia Market by Country
- 8.2.5.1Germany Stevia Market
- 8.2.5.1.1Germany Stevia Market by Distribution Channel
- 8.2.5.1.2Germany Stevia Market by Form
- 8.2.5.1.3Germany Stevia Market by End User
- 8.2.5.1.4Germany Stevia Market by Type
- 8.2.5.2UK Stevia Market
- 8.2.5.2.1UK Stevia Market by Distribution Channel
- 8.2.5.2.2UK Stevia Market by Form
- 8.2.5.2.3UK Stevia Market by End User
- 8.2.5.2.4UK Stevia Market by Type
- 8.2.5.3France Stevia Market
- 8.2.5.3.1France Stevia Market by Distribution Channel
- 8.2.5.3.2France Stevia Market by Form
- 8.2.5.3.3France Stevia Market by End User
- 8.2.5.3.4France Stevia Market by Type
- 8.2.5.4Russia Stevia Market
- 8.2.5.4.1Russia Stevia Market by Distribution Channel
- 8.2.5.4.2Russia Stevia Market by Form
- 8.2.5.4.3Russia Stevia Market by End User
- 8.2.5.4.4Russia Stevia Market by Type
- 8.2.5.5Spain Stevia Market
- 8.2.5.5.1Spain Stevia Market by Distribution Channel
- 8.2.5.5.2Spain Stevia Market by Form
- 8.2.5.5.3Spain Stevia Market by End User
- 8.2.5.5.4Spain Stevia Market by Type
- 8.2.5.6Italy Stevia Market
- 8.2.5.6.1Italy Stevia Market by Distribution Channel
- 8.2.5.6.2Italy Stevia Market by Form
- 8.2.5.6.3Italy Stevia Market by End User
- 8.2.5.6.4Italy Stevia Market by Type
- 8.2.5.7Rest of Europe Stevia Market
- 8.2.5.7.1Rest of Europe Stevia Market by Distribution Channel
- 8.2.5.7.2Rest of Europe Stevia Market by Form
- 8.2.5.7.3Rest of Europe Stevia Market by End User
- 8.2.5.7.4Rest of Europe Stevia Market by Type
- 8.3Asia Pacific Stevia Market
- 8.3.1Asia Pacific Stevia Market by Distribution Channel
- 8.3.1.1Asia Pacific Offline Market by Country
- 8.3.1.2Asia Pacific Online Market by Country
- 8.3.2Asia Pacific Stevia Market by Form
- 8.3.2.1Asia Pacific Powder Market by Country
- 8.3.2.2Asia Pacific Liquid Market by Country
- 8.3.2.3Asia Pacific Leaf Market by Country
- 8.3.3Asia Pacific Stevia Market by End User
- 8.3.3.1Asia Pacific Food & Beverages Market by Country
- 8.3.3.2Asia Pacific Retail Market by Country
- 8.3.3.3Asia Pacific Pharmaceuticals Market by Country
- 8.3.3.4Asia Pacific Others Market by Country
- 8.3.4Asia Pacific Stevia Market by Type
- 8.3.4.1Asia Pacific Reb A Market by Country
- 8.3.4.2Asia Pacific Reb M Market by Country
- 8.3.4.3Asia Pacific Reb D Market by Country
- 8.3.5Asia Pacific Stevia Market by Country
- 8.3.5.1China Stevia Market
- 8.3.5.1.1China Stevia Market by Distribution Channel
- 8.3.5.1.2China Stevia Market by Form
- 8.3.5.1.3China Stevia Market by End User
- 8.3.5.1.4China Stevia Market by Type
- 8.3.5.2Japan Stevia Market
- 8.3.5.2.1Japan Stevia Market by Distribution Channel
- 8.3.5.2.2Japan Stevia Market by Form
- 8.3.5.2.3Japan Stevia Market by End User
- 8.3.5.2.4Japan Stevia Market by Type
- 8.3.5.3India Stevia Market
- 8.3.5.3.1India Stevia Market by Distribution Channel
- 8.3.5.3.2India Stevia Market by Form
- 8.3.5.3.3India Stevia Market by End User
- 8.3.5.3.4India Stevia Market by Type
- 8.3.5.4South Korea Stevia Market
- 8.3.5.4.1South Korea Stevia Market by Distribution Channel
- 8.3.5.4.2South Korea Stevia Market by Form
- 8.3.5.4.3South Korea Stevia Market by End User
- 8.3.5.4.4South Korea Stevia Market by Type
- 8.3.5.5Singapore Stevia Market
- 8.3.5.5.1Singapore Stevia Market by Distribution Channel
- 8.3.5.5.2Singapore Stevia Market by Form
- 8.3.5.5.3Singapore Stevia Market by End User
- 8.3.5.5.4Singapore Stevia Market by Type
- 8.3.5.6Malaysia Stevia Market
- 8.3.5.6.1Malaysia Stevia Market by Distribution Channel
- 8.3.5.6.2Malaysia Stevia Market by Form
- 8.3.5.6.3Malaysia Stevia Market by End User
- 8.3.5.6.4Malaysia Stevia Market by Type
- 8.3.5.7Rest of Asia Pacific Stevia Market
- 8.3.5.7.1Rest of Asia Pacific Stevia Market by Distribution Channel
- 8.3.5.7.2Rest of Asia Pacific Stevia Market by Form
- 8.3.5.7.3Rest of Asia Pacific Stevia Market by End User
- 8.3.5.7.4Rest of Asia Pacific Stevia Market by Type
- 8.4LAMEA Stevia Market
- 8.4.1LAMEA Stevia Market by Distribution Channel
- 8.4.1.1LAMEA Offline Market by Country
- 8.4.1.2LAMEA Online Market by Country
- 8.4.2LAMEA Stevia Market by Form
- 8.4.2.1LAMEA Powder Market by Country
- 8.4.2.2LAMEA Liquid Market by Country
- 8.4.2.3LAMEA Leaf Market by Country
- 8.4.3LAMEA Stevia Market by End User
- 8.4.3.1LAMEA Food & Beverages Market by Country
- 8.4.3.2LAMEA Retail Market by Country
- 8.4.3.3LAMEA Pharmaceuticals Market by Country
- 8.4.3.4LAMEA Others Market by Country
- 8.4.4LAMEA Stevia Market by Type
- 8.4.4.1LAMEA Reb A Market by Country
- 8.4.4.2LAMEA Reb M Market by Country
- 8.4.4.3LAMEA Reb D Market by Country
- 8.4.5LAMEA Stevia Market by Country
- 8.4.5.1Brazil Stevia Market
- 8.4.5.1.1Brazil Stevia Market by Distribution Channel
- 8.4.5.1.2Brazil Stevia Market by Form
- 8.4.5.1.3Brazil Stevia Market by End User
- 8.4.5.1.4Brazil Stevia Market by Type
- 8.4.5.2Argentina Stevia Market
- 8.4.5.2.1Argentina Stevia Market by Distribution Channel
- 8.4.5.2.2Argentina Stevia Market by Form
- 8.4.5.2.3Argentina Stevia Market by End User
- 8.4.5.2.4Argentina Stevia Market by Type
- 8.4.5.3UAE Stevia Market
- 8.4.5.3.1UAE Stevia Market by Distribution Channel
- 8.4.5.3.2UAE Stevia Market by Form
- 8.4.5.3.3UAE Stevia Market by End User
- 8.4.5.3.4UAE Stevia Market by Type
- 8.4.5.4Saudi Arabia Stevia Market
- 8.4.5.4.1Saudi Arabia Stevia Market by Distribution Channel
- 8.4.5.4.2Saudi Arabia Stevia Market by Form
- 8.4.5.4.3Saudi Arabia Stevia Market by End User
- 8.4.5.4.4Saudi Arabia Stevia Market by Type
- 8.4.5.5South Africa Stevia Market
- 8.4.5.5.1South Africa Stevia Market by Distribution Channel
- 8.4.5.5.2South Africa Stevia Market by Form
- 8.4.5.5.3South Africa Stevia Market by End User
- 8.4.5.5.4South Africa Stevia Market by Type
- 8.4.5.6Nigeria Stevia Market
- 8.4.5.6.1Nigeria Stevia Market by Distribution Channel
- 8.4.5.6.2Nigeria Stevia Market by Form
- 8.4.5.6.3Nigeria Stevia Market by End User
- 8.4.5.6.4Nigeria Stevia Market by Type
- 8.4.5.7Rest of LAMEA Stevia Market
- 8.4.5.7.1Rest of LAMEA Stevia Market by Distribution Channel
- 8.4.5.7.2Rest of LAMEA Stevia Market by Form
- 8.4.5.7.3Rest of LAMEA Stevia Market by End User
- 8.4.5.7.4Rest of LAMEA Stevia Market by Type
Chapter 9.Company Profiles
- 9.1Ingredion Incorporated
- 9.1.1Company Overview
- 9.1.2Financial Analysis
- 9.1.3Regional Analysis
- 9.1.4Research & Development Expenses
- 9.1.5Recent strategies and developments:
- 9.1.5.1Partnerships, Collaborations, and Agreements:
- 9.1.5.2Acquisition and Mergers:
- 9.1.6SWOT Analysis
- 9.2Tate & Lyle PLC
- 9.2.1Company Overview
- 9.2.2Financial Analysis
- 9.2.3Segmental & Regional Analysis
- 9.2.4Research & Development Expense
- 9.2.5Recent strategies and developments:
- 9.2.5.1Partnerships, Collaborations, and Agreements:
- 9.2.5.2Product Launches and Product Expansions:
- 9.2.5.3Acquisition and Mergers:
- 9.2.6SWOT Analysis
- 9.3The Coca Cola Company
- 9.3.1Company Overview
- 9.3.2Financial Analysis
- 9.3.3Segmental and Regional Analysis
- 9.3.4SWOT Analysis
- 9.4PepsiCo, Inc.
- 9.4.1Company Overview
- 9.4.2Financial Analysis
- 9.4.3Segmental and Regional Analysis
- 9.4.4Research & Development Expense
- 9.4.5SWOT Analysis
- 9.5Archer Daniels Midland Company
- 9.5.1Company Overview
- 9.5.2Financial Analysis
- 9.5.3Segmental and Regional Analysis
- 9.5.4Research & Development Expense
- 9.6Pyure Brands, LLC
- 9.7Cargill, Incorporated
- 9.7.1Company Overview
- 9.7.2SWOT Analysis
- 9.8S&W Seed Company
- 9.8.1Company Overview
- 9.8.2Financial Analysis
- 9.8.3Regional Analysis
- 9.8.4Research & Development Expense
- 9.9Morita Kagaku Kogyo Co., Ltd.
- 9.10.Evolva Holdings SA
- 9.10.1Company Overview
- 9.10.2Financial Analysis
- 9.10.3Regional Analysis
- 9.10.4Research & Development Expenses
- 9.10.5SWOT Analysis
Chapter 10.Winning Imperatives of Stevia Market