A Sweet Evolution Amidst Global Dynamics

The Business Research Company’s Stevia Global Market Report 2023 – Market Size, Trends, And Market Forecast 2023-2032

LONDON, GREATER LONDON, UK, November 14, 2023 /EINPresswire.com/ — The global stevia market, segmented by product, nature, and application, witnessed significant growth, escalating from $0.75 billion in 2022 to $0.82 billion in 2023, with an impressive compound annual growth rate (CAGR) of 9.9%. The market is set to reach $1.3 billion in 2027, projecting a robust CAGR of 12.1%.

Diverse Segmentation: Products, Nature, and Applications

Segments:
•Product: Powder, Liquid, Leaf
•Nature: Organic, Conventional
•Application: Bakery, Dairy Food Products, Beverages, Dietary Supplements, Confectionery, Other Applications

Explore the global stevia market with a detailed sample report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5433&type=smp

Health Concerns Driving Growth: Diabetes and Obesity Prevalence
The escalating prevalence of diabetes and obesity emerges as a key driver for the stevia market. Unhealthy lifestyles, physical inactivity, overeating, and stress contribute to these health issues. According to the International Diabetes Federation (IDF), nearly 463 million people had diabetes in 2020, expected to rise to 5.3 million individuals by 2025. Simultaneously, the World Obesity report predicts a surge in global obesity rates, reaching 18% in men and exceeding 21% in women by 2025. As consumers seek zero-calorie natural sweeteners to combat health challenges, the demand for stevia is expected to surge, propelling market growth.

Innovation: Shaping the Future of Stevia
A notable trend in the stevia market is the development of innovative product variants. Key market players are focusing on product innovations to fortify their market position and diversify their product portfolios. For instance, Socati introduced CBD coffee brightener and CBD coffee sweetener in February 2020, utilizing stevia and monk fruit as sweeteners. Another significant development was Ingredion’s acquisition of PureCircle in April 2020, enhancing both companies’ capabilities and global presence in the stevia market.

Geographical Insights: Dynamics Across Continents

Regions:
•Asia-Pacific: Emerged as the largest region in the stevia market in 2022.
•Asia-Pacific: Expected to be the fastest-growing region in the forecast period.
•Other Regions: Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Access the complete report for an in-depth analysis of the global stevia market:
https://www.thebusinessresearchcompany.com/report/stevia-global-market-report

Stevia Global Market Report 2023 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Stevia Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on stevia market size, stevia market drivers and trends, stevia market major players, competitors’ revenues, market positioning, and market growth across geographies. The stevia market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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