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The stevia market size is forecast to increase by USD 310.2 million at a CAGR of 8.08% between 2023 and 2028. The market's expansion is fueled by various factors, notably the increasing demand for natural sweeteners driven by health-conscious consumer preferences. This demand is further propelled by the frequent introduction of stevia-based products, leveraging its natural origin and low-calorie attributes. Additionally, the increasing demand for natural sweeteners, the rising awareness of health and wellness, and the growing preference for organic and natural food products made using organic sugar. Futhermost, the market experiences growth through increased M&A activity among major players, driving consolidation and expanding market reach. This trend towards strategic acquisitions and partnerships enhances product innovation and distribution channels, contributing to market expansion. As consumer awareness regarding health and wellness continues to rise, the market for natural sweeteners is poised for sustained growth, offering opportunities for manufacturers to capitalize on evolving dietary trends and preferences.
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The market has experienced significant growth due to the increasing demand for zero-calorie, plant-based sweeteners in various food commodities and beverages. Legislative bodies worldwide have recognized the health benefits of Stevia, a natural sugar substitute, in reducing calorie intake and managing blood sugar levels. As a result, food commodity exporters have turned to Stevia as a viable alternative to traditional sweeteners. Stevia brands like Natuvia and Truvia have gained popularity among health-conscious consumers, offering sweetened beverage choices such as diet carbonated drinks, flavored water, and soft drinks. Fruit juices are also seeing a shift towards Stevia-based sweeteners to cater to the demand for healthier food alternatives and dietary foods & beverages. Moreover, price competition among Stevia suppliers, including those of natural sugar substitutes like Stevia, has intensified, driving product innovations and the development of personal care products. The health benefits of Stevia extend beyond blood sugar management, including potential improvements in blood pressure and insulin sensitivity. Overall, the market is poised for continued growth as consumers seek out wholesome food options and dietary alternatives. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
High demand for natural sweeteners is the key factor driving the growth of the market. The market for food sweeteners, particularly stevia, is experiencing significant growth due to increasing consumer awareness and prioritization of healthier food alternatives. Stevia, a natural sugar substitute derived from the Stevia rebaudiana plant, is gaining popularity as a safer option compared to artificial sweeteners, which have been linked to potential health risks such as weight gain, diabetes, and high blood pressure. Stevia is used extensively in various sectors, including beverages, candies, chocolates, and functional foods and beverages. Its clean taste and low glycemic index make it an ideal choice for health-conscious consumers, including those with diabetes or insulin sensitivity. The demand for natural sweeteners is driven by various factors, including consumer preferences for clean label ingredients, calorie reduction, and the growing trend toward plant-based diets.
Further, the beverage sector, including diet carbonated drinks, juices, and flavored water, is a significant contributor to the market's growth. Distribution networks, including e-commerce and legislative bodies, play a crucial role in the market's expansion. Stevia is used in a wide range of applications, from baked goods and personal care to nutrient supplements and functional ingredients. Major players in the market include Natuvia, among others. Product innovations and operations are key focus areas for domestic and international brands to meet the growing demand for natural sweeteners. The market's growth is influenced by factors such as living standards, obesity, and internet penetration. Such factors will increase market growth during the forecast period.
Increased demand for stevia from the nutraceutical industry is the primary trend shaping the global Market growth. Stevia, a natural plant-based sweetener, is gaining popularity in the nutraceutical industry due to its low-calorie content and clean taste. It is used as a sweetener in various dietary supplements, including protein powders, vitamins, and minerals, providing a healthier alternative to artificial sweeteners. The beverage sector, including diet-carbonated drinks and juices, is a significant market. Its use is not limited to dietary supplements but also extends to functional foods, such as energy bars, meal replacement shakes, and snack foods. Stevia helps improve the taste of these products without adding extra calories. The demand is driven by health-conscious consumers seeking to manage their calorie intake, blood sugar levels, and blood pressure. The beverage choices in personal care products and food commodity exporters are also influenced by the health benefits associated with stevia.
However, distribution networks, including e-commerce, have facilitated the reach of domestic and international brands. Stevia's clean label appeal and favorable flavor profile make it an attractive option for product innovations in various industries, including beverages, candies, chocolates, and natuvia. The legislative bodies' focus on obesity and insulin sensitivity further emphasizes the importance of natural sugar substitutes in nutrient supplements and functional ingredients. Hence, the robustly growing nutraceutical industry will boost the growth of the market during the forecast period.
Taste issues of stevia-based products are major challenges impeding the growth of the global market. The global market for stevia, a natural plant-based sweetener, faces challenges in the food and beverage sector due to taste-related issues. Differences in perceived sweetness, residual sweetness, bitter aftertaste, and metallic aftertaste can make it difficult to replace artificial sweeteners in various applications. Stevia's adoption in beverages, including diet-carbonated drinks, juices, and flavored water, requires careful product restructuring and confirmatory testing. Maintaining a consistent taste profile across batches is crucial to meet consumer expectations and regulatory standards. Stevia offers health benefits for those with diabetes, insulin sensitivity, and those following calorie-restricted diets. Its use in candies, chocolates, and other dietary foods and beverages expands the product offerings for health-conscious consumers.
Moreover, stevia's clean taste and clean label appeal make it a popular choice for functional food and functional ingredients in personal care products. The market's growth is influenced by factors such as increasing internet penetration, improving living standards, and legislative bodies promoting natural sugar substitutes. Stevia's distribution networks are expanding through e-commerce and partnerships with food commodity exporters. Product innovations, such as Natuvia, a high-purity stevia extract, and nutrient supplements, broaden the market's potential applications. Maintaining a consistent product taste across batches is also a key concern that may hamper the growth of the global Market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Cargill Inc.: The company offers Stevia products, including Truvia stevia leaf extract.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the beverage sector segment will be significant during the forecast period. The Beverage Sector is witnessing a shift towards clean label ingredients and healthier options, leading to an increased demand for natural sugar substitutes like Stevia in the market. Stevia, derived from the Stevia rebaudiana plant, offers zero calories and is now used in various beverages, including soft drinks, sports drinks, tea, coffee, and fruit juices. With rising health consciousness, consumers are opting for sugar-free and calorie-controlled options, making it as a popular choice. Artificial sweeteners' safety concerns and the association of high sugar intake with obesity, diabetes, and other health issues have fueled this trend.
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The beverage sector segment was valued at USD 232.40 million in 2018. Stevia's clean taste and ability to maintain flavor profiles make it an ideal alternative for candies, chocolates, and other sweetened food commodities. The distribution networks, including e-commerce, have expanded the reach of domestic and international brands, enabling easy access to dietary foods and beverages. Stevia's health benefits, such as blood sugar level regulation and improved insulin sensitivity, make it a preferred choice for those following specific diets. Legislative bodies and living standards continue to influence the market's growth, with an increasing focus on nutrient supplements and functional food and ingredients. Stevia's use extends beyond beverages, with applications in personal care products and nutritional labeling. Plant-based sweeteners like Natuvia are driving product innovations, offering a sustainable and natural alternative to traditional sugar substitutes. Stevia's versatility and health benefits make it a valuable addition to the beverage industry and various food commodities. As consumers become more conscious of the impact of their food and drink choices on the environment, there is a growing demand for organic beverages, which is expected to boost the growth of the global Market during the forecast period.
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APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market witnessed significant growth with APAC leading production and consumption due to economic growth and consumer preferences for low-intensity sweeteners. Key drivers include rising demand for sugar alternatives, cost savings, and increasing urbanization. The beverage industry, including soft drinks and sports & energy drinks, is the primary application area. Stevia extraction from leaves is the main production process, yielding steviol glycosides.
Moreover, stevia-based products, such as zero-calorie teas, confectioneries, and baked goods, are gaining popularity due to their taste and sweetness intensity. Regulatory outlook and restrictions vary by region, impacting stevia producers and suppliers. Technological developments and trade policies also influence market growth. Sucralose and Truvia are notable competitors, but Stevia offers a wholesome food option with zero calories. Stevia's solubility and suitability for various applications contribute to its market expansion. The demand for zero-sugar beverages, sugar-free confectioneries, and baked goods is increasing in countries like India, fueling the demand during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is experiencing significant growth due to the increasing demand for natural sweeteners. Sweeteners derived from Stevia are gaining popularity among consumers due to their zero-calorie and diabetic-friendly properties. The market is driven by factors such as the rising awareness of health and wellness and the growing preference for natural and organic food products. Stevia is a plant-based sweetener that is extracted from the leaves of the Stevia rebaudiana plant. It is commonly used as a sugar substitute in food and beverage industries. The market for Stevia is segmented based on form, application, and region.
Furthermore, the major forms of Stevia include leaves, powder, and liquid. The major applications of Stevia are in food and beverages, pharmaceuticals, and other industries. The market is expected to continue its growth trajectory in the coming years. The market is also expected to be influenced by the increasing number of product launches and collaborations in the industry. In the growing market of health conscious consumers, e commerce platforms are seeing an increased demand for Plant based sweetener, such as stevia based products, which are featured prominently alongside dairy products, bakery and confectionery items, and other tabletop sweeteners from both domestic and international brands.
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Market Scope |
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Report Coverage |
Details |
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Page number |
156 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.08% |
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Market growth 2024-2028 |
USD 310.2 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.32 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 39% |
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Key countries |
US, China, Japan, Spain, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Archer Daniels Midland Co., Cargill Inc., Daepyung Co. Ltd., Fraken Biochem Co. Ltd., Guilin Layn Natural Ingredients Corp., HOWTIAN, Hunan Nutramax Inc., Ingredion Inc., MANUS BIO, Morita Kagaku Kogyo Co. Ltd., Nutraceutical Corp., S and W Seed Co., Sunrise Nutrachem Group Co. Ltd., Sunwin Stevia International Inc., SweeGen Inc., Tate and Lyle PLC, The Real Stevia Co. AB, Van Wankum Ingredients BV, Wisdom Natural Brands, and Zydus Lifesciences Ltd. |
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Market dynamics |
Parent market analysis, Market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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