According to Technavio’s latest market research study, the global stevia market is expected to grow at a CAGR of close to 6% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global stevia market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the product type
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The top three revenue contributing product segments are discussed below:
Global powder stevia market: The rise in the demand for healthy food products with fewer calories from consumers across the globe is the fundamental driving force behind the growth of the global powder stevia market. Powder stevia is extracted from sweet glycosides in the stevia leaf and is approximately 200-300 times sweeter than sugar by weight.
“Stevia extract powders vary in taste, sweetness, and cost depending on their degree of refinement and the quality of the stevia plant. Stevia powder can be further categorized into white powder stevia and green powder stevia. White powder stevia is calorie-free but chemically processed while green powder stevia, less or no processing is involved,” says Manjunath Reddy, a lead analyst at Technavio for research on food.
Global liquid stevia market: The consumption of liquid stevia is currently on the rise owing to its diabetic-friendly nature. Several players in the market are coming up with zero-calorie stevia liquids to sweeten and flavor various food and beverages naturally. Players like Ecoideas are offering various kinds of flavors with liquid stevia like pomegranate, toffee, valencia orange, mixed berry, creamy vanilla, chocolate, and strawberry. The growth of the global liquid stevia market during the forecast period is likely to be driven by its increasing consumption as a safe and convenient alternative to sugar among people with diabetes.
Global leaf stevia market: Stevia leaves are dried and crushed to release more flavor and sweet constituents when added to the end-product. It is observed that a dried leaf of stevia is sweeter than the fresh leaf. According to the industry analysts at Technavio, the rise in a number of foodservice manufacturers who use different types of stevia, depending on their product, is likely to augment the demand for stevia leaves, leading to the growth of the global stevia leaf market.
The top vendors operating in the global stevia market are:
- Cargill
- GLG LEADING LIFE TECHNOLOGIES
- Merisant
- PureCircle
- Stevia
- SweetLeaf
- Tate & Lyle
Other prominent vendors in the market include Domino Foods (Born Sweet Zing), Cumberland Packing, Evolva, Ingredion, Janus Life Sciences, Pyure, Stevi0cal, Sunwin Stevia International, Sweet Green Fields, WhiteWave Foods, WILD Flavors and Specialty Ingredients, and Xinghua Green Biological Preparation.
A more detailed analysis is available in the Technavio report titled, ‘Global Stevia Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Liqueurs Market 2017-2021
- Global Packaged Condensed Milk Market 2017-2021
- Global Guarana Seeds Market 2017-2021
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