Global Stevia Market Growth and Share Analysis to 2022
Global Stevia Market in future Overview:
Conventionally, Global Stevia Market has been cultivated for more than a few centuries, but it has been recognized as a safe substitute for sugar in the recent past. Stevia Market contains very few or no calories and is sweet enough, making it an appropriate ingredient in the manufacture of food and beverages. So, makes it a viable substitute for sugar. The popularity of food products containing stevia is very recent. In the 1970s, Japan began to cultivate stevia market for commercial purposes. Morita Kagaku Kogyo Co., Ltd. became the first company to market and sell stevia. In 2014, the global stevia market was estimated at USD 771.5 million dollars. In addition, the market is expected to exceed $ XX million by 2022, with a CAGR of more than 9.5%
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Global Stevia Market in future Drivers and Restraints:
In recent years, the global stevia market has been accelerated by the growing awareness of the health benefits of low-calorie consumables. In addition, encouraging government initiatives and increasing consumer awareness is a positive signal for the growth of the global stevia market. By winning the label of a healthy consumer product, stevia is viewed favorably by consumers. The introduction of several stevia products positively supports the entire market and has been highly appreciated by consumers. A health organization advocates the use of low-calorie sugar substitutes, while calling for an increase in stevia production. In addition, the demand for products based on natural ingredients and antioxidants is an additional factor that can complement the growth of the market.
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Global Stevia Market in future Geographical Segmentation:
On the basis of geography, market is segmented into North America, Europe, Latin America, Middle East and Africa, and Asia Pacific regions. Asia-Pacific and North America will continue to dominate the global stevia market in the coming years. In addition, the North American market is expected to publish a solid CAGR of 9.8% during the forecast period, while Asia Pacific region is also estimated to register significant growth in the market. Similarly, China is one step ahead of other countries in terms of global stevia production and export capacity.
Low production costs and the availability of qualified resources are an important factor in the growth of the Asia Pacific market. In addition, Latin America is expected to experience solid growth until 2020.
List of Key Players in Global Stevia Market Report:
Tate & Lyle Plc., Stevia Corp., GLG Life Tech Corp, The Coca-Cola Company, PepsiCo Inc., Cargill Inc., Nestlé S.A., Evolva Holding S.A., and Ingredion, Inc. are the major players of the market.
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