Product Code: PM3931
The global steviol glycosides market size is expected to reach USD 8.21 billion by 2032, according to a new study by Polaris Market Research. "Steviol Glycosides Market Share, Size, Trends, Industry Analysis Report, By Type (Steviolbioside, Stevioside, Rebaudioside A, Rebaudioside B); By Processing Method; By End Use; By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing popularity of plant-based diets and rapid increase in the adoption of vegan lifestyles all over the world, as a result of a drastic shift in consumer consciousness towards environmental, ethical, and health considerations along with the greater focus on product innovations and new partnerships by well-established companies to expand their business and reach wider customer base, are prominent factors influencing the market growth.
Furthermore, the product is gaining huge traction to be used as a major constituent in an extensive range of pharma products, including dietary supplements as functional foods and herbal remedies, due to its numerous beneficial characteristics and ability to be adopted as a safe and secure option for diabetes patients, which in turn, generating huge growth potential for the market over the years.
There have been rising advancements in extraction methods, such as enzyme-assisted extraction and membrane separation, which have made it possible to extract steviol glycosides more efficiently from the stevia plant, not only increases product yield but also reduces the use of chemicals in their formulation, making the process more environmentally friendly and suitable for consumers seeking for sustainable ingredients in the products they consume.
In recent years, steviol glycosides have become a valuable and important tool for food and beverage companies looking to reduce the sugar content in their product offerings to comply with sugar reduction goals, avoid sugar taxes, and gain benefits from several government initiatives promoting the use of steviol glycosides in various applications, is likely to open up new revenue opportunities for the companies in the market.
Steviol Glycosides Market Report Highlights
- Stevioside segment accounted for notable market share, owing to its numerous beneficial properties like the ability to reduce body weight and sugar content
- Fermentation-based production segment is projected to hold a substantial share, mainly due to its emergence as an efficient and cost-effective production method
- The medicine segment will grow at a significant growth rate, mainly accelerated by the surging use of steviol glycosides in various medical formulations and dietary supplements
- North America dominated the market with the largest share on account of the region's higher spending capacity on premium and healthy ingredients
- The key market players include GLG Life Tech Corporation, Stevia Extraction Technology, Sunwin Stevia International, and Cargill Incorporated
Polaris Market Research has segmented the steviol glycosides market report based on type, processing method, end-use, and region:
Steviol Glycosides, Type Outlook (Revenue - USD Billion, 2023 - 2032)
- Steviolbioside
- Stevioside
- Rebaudioside A
- Rebaudioside B
Steviol Glycosides, Processing Method Outlook (Revenue - USD Billion, 2023 - 2032)
- Fermentation-based Production
- Farming-based Production
Steviol Glycosides, End-Use Outlook (Revenue - USD Billion, 2023 - 2032)
- Food & Beverages
- Medicines
- Chemicals
Steviol Glycosides, Regional Outlook (Revenue - USD Billion, 2023 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Steviol Glycosides Market Insights
- 4.1. Steviol Glycosides Market - End Use Snapshot
- 4.2. Steviol Glycosides Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Shift towards the natural & clean label food ingredients driving the global market
- 4.2.1.2. Increasing incidences of severe health conditions likely to spur product demand worldwide
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High production and purification costs
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Steviol Glycosides Market End Use Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Steviol Glycosides Market, by Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 5.3. Steviolbioside
- 5.3.1. Global Steviol Glycosides Market, by Steviolbioside, by Region, 2019-2032 (USD Billion)
- 5.4. Stevioside
- 5.4.1. Global Steviol Glycosides Market, by Stevioside, by Region, 2019-2032 (USD Billion)
- 5.5. Rebaudioside A
- 5.5.1. Global Steviol Glycosides Market, by Rebaudioside A, by Region, 2019-2032 (USD Billion)
- 5.6. Rebaudioside B
- 5.6.1. Global Steviol Glycosides Market, by Rebaudioside B, by Region, 2019-2032 (USD Billion)
6. Global Steviol Glycosides Market, by Processing Method
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 6.3. Fermentation-based Production
- 6.3.1. Global Steviol Glycosides Market, by Fermentation-based Production, by Region, 2019-2032 (USD Billion)
- 6.4. Farming-based Production
- 6.4.1. Global Steviol Glycosides Market, by Farming-based Production, by Region, 2019-2032 (USD Billion)
7. Global Steviol Glycosides Market, by End Use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 7.3. Food & Beverages
- 7.3.1. Global Steviol Glycosides Market, by Food & Beverages, By Region, 2019-2032 (USD Billion)
- 7.4. Medicines
- 7.4.1. Global Steviol Glycosides Market, by Medicines, By Region, 2019-2032 (USD Billion)
- 7.5. Chemicals
- 7.5.1. Global Steviol Glycosides Market, by Chemicals, By Region, 2019-2032 (USD Billion)
8. Global Steviol Glycosides Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Steviol Glycosides Market Assessment, By Geography, 2019-2032 (USD Billion)
- 8.3. Steviol Glycosides Market - North America
- 8.3.1. North America: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.3.2. North America: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.3.3. North America: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.3.4. Steviol Glycosides Market - U.S.
- 8.3.4.1. U.S.: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.3.4.2. U.S.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.3.4.3. U.S.: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.3.5. Steviol Glycosides Market - Canada
- 8.3.5.1. Canada: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.3.5.2. Canada.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.3.5.3. Canada: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.4. Steviol Glycosides Market - Europe
- 8.4.1. Europe: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.4.2. Europe.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.4.3. Europe: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.4.4. Steviol Glycosides Market - UK
- 8.4.4.1. UK: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.4.4.2. UK.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.4.4.3. UK: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.4.5. Steviol Glycosides Market - France
- 8.4.5.1. France: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.4.5.2. France.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.4.5.3. France: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.4.6. Steviol Glycosides Market - Germany
- 8.4.6.1. Germany: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.4.6.2. Germany.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.4.6.3. Germany: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.4.7. Steviol Glycosides Market - Italy
- 8.4.7.1. Italy: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.4.7.2. Italy.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.4.7.3. Italy: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.4.8. Steviol Glycosides Market - Spain
- 8.4.8.1. Spain: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.4.8.2. Spain.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.4.8.3. Spain: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.4.9. Steviol Glycosides Market - Netherlands
- 8.4.9.1. Netherlands: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.4.9.2. Netherlands.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.4.9.3. Netherlands: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.4.10. Steviol Glycosides Market - Russia
- 8.4.10.1. Russia: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.4.10.2. Russia.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.4.10.3. Russia: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.5. Steviol Glycosides Market - Asia Pacific
- 8.5.1. Asia Pacific: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.5.2. Asia Pacific.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.5.3. Asia Pacific: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.5.4. Steviol Glycosides Market - China
- 8.5.4.1. China: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.5.4.2. China.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.5.4.3. China: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.5.5. Steviol Glycosides Market - India
- 8.5.5.1. India: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.5.5.2. India.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.5.5.3. India: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.5.6. Steviol Glycosides Market - Malaysia
- 8.5.6.1. Malaysia: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.5.6.2. Malaysia.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.5.6.3. Malaysia: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.5.7. Steviol Glycosides Market - Japan
- 8.5.7.1. Japan: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.5.7.2. Japan.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.5.7.3. Japan: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.5.8. Steviol Glycosides Market - Indonesia
- 8.5.8.1. Indonesia: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.5.8.2. Indonesia.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.5.8.3. Indonesia: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.5.9. Steviol Glycosides Market - South Korea
- 8.5.9.1. South Korea: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.5.9.2. South Korea.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.5.9.3. South Korea: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.6. Steviol Glycosides Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.6.2. Middle East & Africa.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.6.3. Middle East & Africa: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.6.4. Steviol Glycosides Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.6.4.2. Saudi Arabia.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.6.4.3. Saudi Arabia: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.6.5. Steviol Glycosides Market - UAE
- 8.6.5.1. UAE: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.6.5.2. UAE.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.6.5.3. UAE: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.6.6. Steviol Glycosides Market - Israel
- 8.6.6.1. Israel: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.6.6.2. Israel.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.6.6.3. Israel: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.6.7. Steviol Glycosides Market - South Africa
- 8.6.7.1. South Africa: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.6.7.2. South Africa.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.6.7.3. South Africa: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.7. Steviol Glycosides Market - Latin America
- 8.7.1. Latin America: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.7.2. Latin America.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.7.3. Latin America: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.7.4. Steviol Glycosides Market - Mexico
- 8.7.4.1. Mexico: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.7.4.2. Mexico.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.7.4.3. Mexico: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.7.5. Steviol Glycosides Market - Brazil
- 8.7.5.1. Brazil: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.7.5.2. Brazil.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.7.5.3. Brazil: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
- 8.7.6. Steviol Glycosides Market - Argentina
- 8.7.6.1. Argentina: Steviol Glycosides Market, by Type, 2019-2032 (USD Billion)
- 8.7.6.2. Argentina.: Steviol Glycosides Market, by End Use, 2019-2032 (USD Billion)
- 8.7.6.3. Argentina: Steviol Glycosides Market, by Processing Method, 2019-2032 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Cargill Incorporated
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Evolva
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. GLG Life Tech Corporation
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Ingredion Incorporated
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Kerry Inc.
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Koninklijke DSM N.V.
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Layn Corporation
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Morita Kagaku Kogyo Co. Ltd.
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Stevia Extraction Technology
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Sunrise Nutrachem Group
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. Sunwin Stevia International Inc.
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. Tate & Lyle
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
- 10.13. Zhucheng HaoTian Pharma Co. Ltd.
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development