Stevia is a sweetener and sugar substitute extracted from the leaves of the South American shrub Stevia rebaudiana. It is extensively used as a sugar substitute in foods and beverages as it has zero calories and is about 150-300 times sweeter than sugar. Stevia is gaining wide acceptance as a healthier alternative to sugar for weight management and diabetes management.

The global stevia market is estimated to be valued at US$ 716.49 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:
The increasing demand for healthier sugar alternatives is one of the major trends driving the growth of the stevia market. Consumers are increasingly looking to reduce sugar intake in their diet and switch to low or zero calorie sweeteners for weight management and better health. Stevia has emerged as one of the preferred natural sweeteners for this purpose due to its high sweetness intensity and negligible impact on blood glucose levels. According to a survey, nearly 60% of the U.S. population is trying to reduce sugar in their diet. This growing health-conscious consumer base represents a major opportunity for stevia producers and product developers.

Segment Analysis The global stevia market can be segmented based on form, application, and geography. By form, the powder sub-segment dominates the market and accounted for around 56% share of the total market in 2023. The powder form of stevia is highly preferred by food & beverage manufacturers due to its ease of use. By application, the food segment dominates the market due to rising demand for low-calorie sweeteners in various food products such as bakeries, confectionaries, tabletop sweeteners, and others.

Key Takeaways
The Global Stevia Market Demand is expected to witness high growth over the forecast period, growing at a CAGR of around 18%.

The Asia Pacific region currently dominates the market and is expected to maintain its position over the forecast period. This is attributed to rising health consciousness among consumers coupled with the increasing prevalence of diabetes and obesity in countries like China and India. China dominates the Asia Pacific stevia market and growing at a rapid pace due to increasing consumption of low-calorie packaged food products.

Key players analysis: Key players operating in the stevia market are Cisco Systems Inc., SAP SE, General Electric, Microsoft Corporation, Intel Corporation, Siemens AG, IBM Corporation, Qualcomm, Verizon Communication Inc., and AT&T Inc. Cisco Systems Inc., SAP SE, Microsoft Corporation are amongst the key players dominating the market.

Explore more information on this topic, Please visit @ https://www.marketwebjournal.com/growing-awareness-towards-health-benefits-of-stevia-size