Supportive Regulatory Outlook along with Increasing Consumer Demand for Natural Sugar Substitutes to Proliferate Global Stevia Market to Reach Higher by 2027| UnivDatos Market Insights

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NOIDA, India, Oct. 12, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the Stevia Market was valued at more than USD 650 million in 2020 and is expected to grow at a CAGR of around 8% from 2022-2028. The analysis has been segmented into Filtration Type (Whole Leaf, Powder, Liquid, Others); Application (Food, Beverage, Dairy & Frozen Desserts, Bakery & Confectionery, And Tabletop Sweeteners); Region/Country.

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The Stevia market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Stevia market. The Stevia market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Stevia market at the global and regional levels.

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Market Overview

The global consumption of sugar amounted to 172.6 in 2018/2019 and is projected to increase to about 171.8 million metric tons by 2020/2021. With the increase in world trade, better agricultural technology, among other reasons, sugar is cheaper and more widely available than ever. In 2018/2019, about 188.25 million metric tons of sugar was produced worldwide, up from 164.7 million metric tons of sugar in 2015/2016. India consumes the most sugar of any country, followed by the European Union and China. In the ten years between 2016 and 2026, the global price of sugar is expected to decrease from 0.17 U.S. dollars per pound to 0.14 U.S. dollars per pound. Though this means that sugar might be even more readily accessible and affordable in the future, this could lead to further global health problems associated with excess sugar consumption. Owing to these facts, there is a surge in no. of people inclining towards the adoption of a healthy lifestyle which further boosts the growth of the stevia market globally.

COVID-19 Impact

The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. All industries have suffered some form of loss due to the pandemic and the stevia industry has not been left untouched by this unprecedented crisis of modern times. This industry has its share of challenges due to the COVID-19 pandemic as the lockdown restrictions have resulted in the widespread closure of many production and manufacturing functions. Also, there has been a decline in trade and transportation which has disrupted the supply chains of stevia because of which its market has witnessed shortfalls. However, there has been an increase in the number of people adopting a healthy lifestyle which has led to increased demand for natural sweeteners such as stevia among the consumers.

Click here to view the Report Description & TOC

https://univdatos.com/report/stevia-market/

The global Stevia market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

• Based on type, the market is segmented into whole leaf, powder, liquid, and others. The powdered segment dominated the stevia market and is expected to grow at a considerable CAGR during the upcoming years as it is one of the most popular and widely available types of stevia in the market all over the world. Furthermore, the highly purified form of stevia powder and enhanced sweetness potency is gaining more traction among the consumers as it can be widely utilized for various applications such as in making beverages, baked foodstuff, desserts, sauces, and many more.
• Based on the application, the market is fragmented into food, beverage, dairy & frozen desserts, bakery & confectionery, and tabletop sweeteners. The beverage segment accounted for the highest revenue share in 2020 and is expected to grow with a substantial CAGR during the projected timeframe as there is a growing utilization of stevia while formulating different types of beverages. Also, the increased focus of many industry players to incorporate stevia as an ingredient has led to a rise in the number of beverage launches with stevia. For example, in 2018, Coca-Cola has launched a new Coke product that is sweetened entirely from stevia (Stevia rebaudiana).

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Stevia Market Geographical Segmentation Includes:

• North America (United States, Canada, and Rest of North America)
• Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific)
• Rest of the World

Geographically, the Asia-pacific region dominated the stevia market owing to changes in lifestyle and the prevalence of lifestyle diseases such as cardiovascular disease, obesity, and Diabetes. The demand for stevia has been on surge across the globe owing to the growing inclinations of consumers towards natural sweeteners and increase in awareness regarding the health benefits among the consumers. Due to this, there has been a mounting sales volume of stevia globally as many industry players in the food & beverage sector are focusing on launching products containing stevia. Thereby, boosting the growth of the stevia market. For instance, As per a release by PureCircle, newly introduced foods & beverages using stevia sweetener grew by 31% in 2018, up from an 11% growth rate in 2017.

The major players targeting the market include

• Ingredion Incorporated
• Cargill
• Tate & Lyle Plc
• Archer Daniels Midland Company
• Sunwin Stevia International Inc.
• S&W Seed Company
• Stevia Corp
• PureCircle Limited
• Evolva Holdings SA
• GLG Life Tech Corp.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Stevia market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the Stevia market?
• Which factors are influencing the Stevia market over the forecast period?
• What are the global challenges, threats, and risks in the Stevia market?
• Which factors are propelling and restraining the Stevia market?
• What are the demanding global regions of the Stevia market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

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Stevia Market Report Coverage

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UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

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