VANCOUVER, B.C., Oct. 29, 2020
- Increasing preference among consumers for low-calorie beverage and food products and the rising demand for stevia-based sugar substitute products from the food and beverage sector are driving the demand of the market
- Market Size – USD 595.8 million in 2019, Market Growth - CAGR of 9.6%, Market Trends- Growing consumer preferences for plant-based sweeteners
VANCOUVER, B.C., Oct. 29, 2020 /PRNewswire/ -- The Global Stevia Market is estimated to be worth USD 1,185.0 million by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the rising awareness among consumers regarding the adverse effects of sugar on health. Rising obesity and diabetes, coupled with the growing number of patients suffering from cardiovascular disease, is speculated to drive the demand for stevia-based sugar substitutes.
Growing preferences among consumers for plant-based sugar substitutes are most likely to propel the growth of the market over the forecast period. The zero calories and zero glycemic index characteristics of stevia are projected to increase its adoption. Moreover, the wide popularity of clean-labeling has also boosted the sales of stevia.
Growing government initiatives to promote the adoption of stevia-based sugar substitutes and reduce sugar intake is predicted to increase the demand for stevia. Governments in the U.S. and Europe are also providing support to the cultivation of stevia by drafting favorable regulations, which is likely to propel the industry's growth over the forecast period.
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Key Highlights From The Report
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Emergen Research has segmented the Global Stevia Market on the basis of Product Form, Application, and Region:
5. Rest of Europe
3. South Korea
4. Rest of APAC
2. Rest of LATAM
1. Saudi Arabia
3. Rest of MEA
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