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Stevia Market estimated at USD 490.1 million in 2017 and is projected to grow at a CAGR of 9.5% to reach USD 771.5 million by 2022

Press Release   •   Jun 06, 2017 07:59 GMT

"Stevia Market estimated at USD 490.1 million in 2017 and is projected to grow at a CAGR of 9.5% to reach USD 771.5 million by 2022" published in June 2017. It is a professional and in-depth study.

Summary

Market Research Report Storeannounces a new report"Stevia Market"added to its database.The stevia market is estimated at USD 490.1 million in 2017 and is projected to grow at a CAGR of 9.5% to reach USD 771.5 million by 2022. The market is driven by factors such as rise in per capita consumption of zero calorie beverages and development of innovative stevia products that are cost-effective as well as beneficial for heath.

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FDA approval and attributing GRAS status to steviol glycosides with reduced Reb A acted as a positive influencing factor for the stevia market. In the last five years, leading food safety and regulatory agencies across the world have issued positive safety opinions on and/or allowed the safe use of purified stevia leaf extracts in food & beverages. One of the major restraining factors of the stevia market is the volatility of stevia leaf prices, which depend on seasonal fluctuations and crop yield. Many countries offer a wide range of stevia varieties, which also vary widely in stevia wholesale and retail prices leaving the prices for stevia in different regions unstable.

“The tabletop sweeteners segment, by application, is projected to be the fastest-growing in the stevia industry”

On the basis of application, the tabletop sweeteners segment is projected to be the fastest-growing, particularly in developing Asian economies with greater demand for sugar replacers. The convenience foods market is driven by significant product innovation, new product introduction, changes in preferences of consumers toward taste & flavor, and rise in demand for premium quality products.

“India: The future of the stevia industry”

Increase in demand for convenience foods, low calorie beverages, and tabletop sweeteners, coupled with the constantly changing lifestyles has increased the demand for stevia in India and other developing Asian economies. With a rise in disposable income levels and inclination toward western eating habits, several users are willing to spend on new innovative stevia-based products and incorporate sugar substitutes such as stevia in their diets.

The U.S. accounted for the largest country-level market for stevia in 2016, whereas the market in India is projected to grow at the highest CAGR in terms of value.

Break-up of Primaries:

n By Company – Tier 1 – 41 %, Tier 2 – 37% and Tier 3 – 22%

n By Designation – C level – 44%, Director level – 36%, and Others – 20%

n By Region – North America - 26%, Europe – 20%, Asia-Pacific – 30%, and RoW – 24%

Leading players such as Cargill (U.S.), Ingredion Inc. (U.S.), Tate & Lyle PLC (U.K.), PureCircle Ltd. (Malaysia), and GLG Life Tech Corporation (Canada) have been profiled in the report. The other players include Jining Aoxing Stevia Products Co., Ltd. (China), Archer Daniels Midland Company (U.S.), Sunwin Stevia Internaional Inc. (China), S&W Seed Company (U.S.), and Stevia First Corporation (U.S.).

Research Coverage:

The report analyzes the stevia market across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as extract type, application, form, and region. The report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.

Reasons to buy this report:

  • To get a comprehensive overview of the global stevia market
  • To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
  • To gain insights about the major countries/regions in which the stevia market is flourishing
  • TABLE OF CONTENTS

    1 INTRODUCTION 14

    1.1 OBJECTIVES OF THE STUDY 14

    1.2 MARKET DEFINITION 14

    1.3 STUDY SCOPE 15

    1.4 PERIODIZATION CONSIDERED FOR THE STUDY 15

    1.5 CURRENCY CONSIDERED 16

    1.6 UNITS 16

    1.7 STAKEHOLDERS 16

    2 RESEARCH METHODOLOGY 17

    2.1 RESEARCH DATA 17

    2.1.1 SECONDARY DATA 18

    2.1.1.1 Key data from secondary sources 18

    2.1.2 PRIMARY DATA 19

    2.1.2.1 Key data from primary sources 19

    2.1.2.2 Breakdown of primaries 20

    2.2 MACRO INDICATORS 20

    2.2.1 INCREASING CONSUMER DEMAND FOR NATURAL SWEETENERS 20

    2.3 MARKET SIZE ESTIMATION 20

    2.3.1 BOTTOM-UP APPROACH 21

    2.3.2 TOP-DOWN APPROACH 22

    2.4 MARKET BREAKDOWN & DATA TRIANGULATION 23

    2.5 RESEARCH ASSUMPTIONS 24

    2.6 LIMITATIONS 25

    3 EXECUTIVE SUMMARY 26

    4 MARKET OVERVIEW 33

    4.1 INTRODUCTION 33

    4.2 MARKET DYNAMICS 33

    4.2.1 DRIVERS 35

    4.2.1.1 Growth in number of new stevia-based product launches 35

    4.2.1.2 Increase in application in the beverage industry 36

    4.2.1.3 Increase in diseases and other health concerns 37

    4.2.1.4 Positive regulatory outlook 38

    4.2.1.5 Consumer demand for natural sugar substitutes 39

    4.2.2 RESTRAINTS 40

    4.2.2.1 Fluctuation in stevia leaf prices 40

    4.2.3 OPPORTUNITIES 41

    4.2.3.1 Use of added sugars as an ingredient limited by sugar taxes 41

    4.2.4 CHALLENGES 41

    4.2.4.1 Advances in extraction technologies and formulations 41

    4.3 REGULATIONS 42

    4.3.1 NORTH AMERICA 42

    4.3.1.1 U.S. 42

    4.3.1.2 Canada 42

    4.3.2 EUROPE 43

    4.3.3 ASIA-PACIFIC 43

    5 STEVIA MARKET, BY EXTRACT TYPE 44

    5.1 INTRODUCTION 45

    5.2 WHOLE LEAF 46

    5.3 POWDERED 47

    5.4 LIQUID 48

    6 STEVIA MARKET, BY APPLICATION 50

    6.1 INTRODUCTION 51

    6.2 DAIRY 52

    6.3 BAKERY & CONFECTIONERY 53

    6.4 TABLETOP SWEETENERS 54

    6.5 BEVERAGES 55

    6.6 CONVENIENCE FOODS 56

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    Market Research Report Store

    About Market Research Report Store

    Market Research Report Store is one of the most fast-growing and professional online platforms for industry reports, market reports, and professional surveys. Our collection covers more than 100 global markets. We have cooperated with leading publishers and consultant companies to offer the best market intelligence products to our clients with instant access to our database.

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