Stevia Market: Size, Share, Trends, and Growth Analysis Indicates Projected Reach of $1,169.4 Million by 2026
WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, April 24, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, "Stevia Market by Form, End Users and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019โ2026," the global stevia market size was valued at $637.1 million in 2018, and is projected to reach $1,169.4 million by 2026, registering a CAGR of 8.0% from 2019 to 2026.
๐๐๐๐๐ฌ๐ฌ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ: https://www.alliedmarketresearch.com/request-sample/6407
Stevia is a non-nutritive natural sweetener, which has low or no calorie, low glycemic index, and is non-cariogenic. It has wide application in different industries such as food & beverages, pharmaceutical, and cosmetics. This is attributed to different properties offered by stevia. For instance, it acts as an antioxidant, stabilizer, flavor enhancer, prevents fermentation & discoloration, has high heat resistance, and. Furthermore, it is available in liquid, powder, and other forms in the market through different distribution channels that include direct channels online stores, and medical stores.
The retail segment is anticipated to garner the highest market share during the forecast period, due to rise in consumer awareness about stevia as a natural zero calorie sweetener, which is non-cariogenic sweetener with low glycemic index. Furthermore, health benefits associated with stevia has made it popular in the household sector. Thus, the demand for stevia especially among the diabetic and obese consumers is expected to increase significantly, thereby driving the growth of the stevia market.
Moreover, rise in number of consumers adopting a healthy lifestyle has propelled the adoption of free form product. This, in turn, has triggered the trend of reducing the consumption of sugar in their diet, which encourages consumers to seek for healthy alternatives of sugar. This factor has urged food & beverages manufacturers to use stevia in their products, which is expected to offer potential growth opportunity for market expansion during the forecast period. In addition, stevia has been also known for improving the palatability of animal feeds, resulting in enhancing the appetite of livestock. This is anticipated to boost the demand for stevia in the animal feed industry. Furthermore, the food service industry, including cafes, restaurants, and hotels are increasingly adopting stevia as table top sweetener for tea and coffee. This, in turn, is anticipated to provide immense opportunity for the stevia market growth in the food service industry during the forecast period.
๐๐ฎ๐ฒ ๐๐จ๐ฐ ๐ญ๐ก๐ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/checkout-final/7e9e2b259869bc3b148c85d3c4e24511
The global stevia market is segmented into form, end user, distribution channel, and region. On the basis of form, the market is classified into liquid, powder, and others. By end user, it is divided into food & beverages industry, pharmaceutical industry, retail industry, and others. Depending on distribution channel, it is bifurcated into direct channel and indirect channel. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key findings of the study:
โก๏ธBy form, the powder segment accounted for the highest stevia market share in 2018, growing at a CAGR of 7.2% from 2019 to 2026.
โก๏ธDepending on end user, the food & beverages segment occupied the maximum share in stevia market analysis in 2018, and is expected to dominate the market forecast.
โก๏ธOn the basis of distribution channel, the direct channel was the highest contributor to the market in 2018, and is estimated to register a CAGR of 7.5% from 2019 to 2026.
โก๏ธRegion wise, Asia-Pacific accounted for about 34.8% in 2018 of the stevia market by share and is expected to grow at a CAGR of 7.0%.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐: https://www.alliedmarketresearch.com/purchase-enquiry/6407
The key players operating in the stevia industry are
โบArcher Daniels Midland Company
โบBENEO (SUDZUCKER Group)
โบCargill, Incorporated
โบFoodchem International Corporation
โบFRAKEN BIOCHEM CO. LTD
โบHaihang Industry Co., Ltd
โบIngredion Incorporated
โบPureCircle
โบTate & Lyle PLC
โบVan Wankum Ingredients
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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