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Stevia Market

Global Market Study on Stevia: Diabetes and Weight Issues to Drive Demand across Regions

Stevia Market Segmented By Powder, Liquid and Dried leaves Form in Organic and Conventional Nature

Stevia Market Outlook (2023-2033)

The market for stevia can be expected to expand at a value based CAGR of 7.9% and show an increase in revenue from US$ 416.5 Mn to around US$ 829.8 Mn by 2033.

Stevia Market Size (2023E)

US$ 416.5 Mn

Projected Sales of Stevia (2033F)

US$ 829.8 Mn

Value CAGR (2023-2033)


Value Share of Top 4 Countries (2022E)


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Stevia Consumption Analysis (2018-2022) Vs. Market Estimations (2023-2033)

The global stevia market has witnessed significant growth in the historical period registering a CAGR of 6.8% in the historical period and was valued at US$ 416.5 Mn in 2023. The market is expected to grow steadily with increasing awareness and benefits about applications of stevia.

Traditionally, stevia has been cultivated for more than centuries, however it got the recognition of being a safe substitute for sugar only in the recent past. Stevia contains very little or no calories and is adequately sweet, which in turn makes is a suitable ingredient in food and beverage manufacturing. Thus, making it a viable substitute for sugar.

As the health and nutrition factor would continue to dominate consumer food preferences, rising stevia consumption is expected to drive the market over the coming years. The global market for stevia is estimated to reach an approximate valuation of US$ 829.8 Mn in the forecast period.

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What are the Key Trends in the Market for Stevia?

Shift in food resources leading towards transitions in sweetener market”

Improving living standards is expected to alter consumer preference towards food products, thereby contributing to increased consumption of processed food, packaged food and other specialty products. In addition, increased consumer awareness towards low-calorie food is contributing to adoption of products with high-energy and low-carbohydrate properties.

“Increased consumer spending on food products”

High competition in the overall sweetener market is a result of companies making more investments and these players expanding their geographic reach. Future demand for plant-based sweeteners and, indirectly, stevia extracts is anticipated to be driven by greater brand awareness for goods addressing specific issues like the prevention of obesity, nutritional benefits, and health benefits.

“Stevia-based Sweeteners Witnessing Increase in Demand”

As diabetes becomes increasingly common, the need for artificial sweeteners is seeing a major shift in demand, and stevia has been looked at as the best alternative for sugar. Stevia-based sweeteners have become very popular and are in demand due to rising awareness about healthy lifestyle and the trend of weight management. China is known in the stevia market and the nation is expecting to maximize the economic gains that come with increased demand. Sustainability in agriculture is also becoming a major area of interest, and to lower the environmental impact of stevia farming, Tata and Lyle have launched a new program for Chinese stevia growers.

The program has been developed and Earthwatch Europe will be rolled out by on-ground support from the Nanjing Agricultural University (NJAU), which will provide training to local farmers. Demand for stevia is seeing a positive trend and initiatives like this are expected to encourage farmers to take up stevia farming for better economic gains.

SweeGen, a known name in the sweeteners industry, will be getting approval for its new stevia sweetener. The next-generation Bestevia Rebaudioside M (Reb M) stevia sweetener will be commercially scaled up soon after its approval. The company has fast-tracked the process at its manufacturing facility. The approval of this new sweetener will be beneficial for consumers as well as brands, as it ticks most of the spots on the healthy eating list. As demand for such sweeteners increases, the stevia industry will see major demand growth.

“The Ever Growing Obese Population to Spur Demand for Stevia”

In recent years, the global stevia market has witnessed an uptick owing to increasing awareness on the health benefits low-calorie consumable products. Moreover, encouraging government initiatives and growing consumer awareness is auguring positive signs for the growth of global stevia market. By earning the tag of being a healthy consumable product, stevia is viewed favorably by consumers. The introduction of several stevia based products is positively supporting the overall market and has been well appreciated by consumers. Health organization advocate the use of low-calorie sugar substitutes, while calling for higher production of stevia. Further, demand for natural ingredient products and antioxidants are additional factors expected to supplement the market growth.

“Low Regulatory Approval of Stevia in the Global Market”

Concerns about strict regulatory standards regulating the use of stevia as a food ingredient are a significant factor impeding the growth of the global stevia market. This is a result of adverse effects such allergic responses, digestive system dysfunction, and other medical conditions.

Although stevia production and consumption are growing quickly, stevia is still being slowly adopted as a food ingredient by a variety of end-use sectors, including confectionery, baking, and others. This is a result of the limited regulatory permissions provided by the relevant laws due to consumer health concerns worldwide.

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Country-wise Insights

What does the global stevia market look like?

Based on regional analysis, Asia excluding Japan and North America will continue to dominate the global stevia market. In addition, the market in North America is expected to hit a valuation of approximately US$ 198 Mn over the forecast period, while South Asia & Pacific and East Asia will also exhibit significant market growth during the same period. Likewise, China has a distinctive lead over other countries in terms of production capacity and export of stevia globally. Low cost of production and availability of skilled resource is a major factor driving for the market growth in Asia. Further, Latin America is also projected to witness a sound growth through 2033.

What is the Outlook for the North American Stevia Market?

Growth is attributed to inclination of consumers towards natural ingredient products, new product offerings from local as well as international players and increasing visibility of stevia-based products across the region while increased consumer spending on healthcare coupled with increasing awareness towards low caloric foods is driving growth of this market in North America.

Among all stevia extracts, the liquid extract sub-segment is expected to witness double-digit growth, followed by stevia leaf sub-segment. This is primarily due to collaborations such as Evolve Holding S.A. and Cargill Inc. introducing stevia-based products on a large-scale through increasing visibility of stevia-based products in retail outlets. Packaged food products and dairy food products sub-segments are collectively expected to reflect a double-digit CAGR during the forecast period.

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Category-wise Insights

What is the Segmental Breakdown of the Stevia Market?

On the basis of application, the global stevia market is segment into packaged food products, beverages, dietary supplements, table top sweeteners, dairy food products, and bakery products. In addition, the beverages segment including hot drinks, energy drinks and soft drinks is expected to witness the highest growth over 2033. Similarly, the table top sweeteners segment is anticipated to witness a robust CAGR through 2033, registering for a healthy share of the overall market.

How is the Dairy Products Sub Segment of the Stevia Market Expected to Grow in the forecast duration?

The global dairy food products sub-segment is expected to reach US$ 43.2 Mn by the end of 2023, registering a CAGR of 8.8% during the forecast period. The increasing consumption is driving demand for dairy food products, supported by health benefits of these products and dietary guidelines encouraging consumption across countries such as the U.S. etc.

Demand for dairy products, which primarily includes ice cream, yogurt and flavoured milk, is expected to increase during the forecast period. This is attributed to increasing consumer demand for personalised food resources rather than conventional food products. Increased expenditure on marketing methods for flavoured milk, which will help to increase visibility of stevia-based products at druggist stores and pharmacies, is expected to fuel the demand for this category over the forecast period.

Competitive Dashboard

Key participant operating in the global stevia market include Stevia Corp., Tate & Lyle Plc., The Coca-Cola Company, GLG Life Tech Corp, Evolva Holding S.A., PepsiCo Inc., Cargill Inc., Nestlé S.A., and Ingredion, Inc. Most of the companies engage in aggressive promotion of stevia-based products in order to improve product positioning and visibility. Higher production and on-shelf availability of stevia-based products are translating into a significant rise in stevia sales. Key player are further encouraged by the consolidated nature of the stevia industry and steadiness in the supply chain.

  • Stevia products are promoted as health and environment-friendly products & Cargill has a proprietary stevia product called Truvia. In 2013, the company launched ViaTech, a stevia-based sweetener and in 2012, Cargill introduced integrated marketing campaign programme, also, the company invested US$ 5.7 Mn to increase customer awareness regarding artificial sweeteners.
  • Evolva partners or enters into long-term contracts with key stevia players for improving its R&D capability for stevia products and in 2012, Evolva partnered with Cargill to improve its research and development capabilities. Also in 2015, Evolva signed an agreement with Cargill, wherein both companies will explore cost-effective production options.
  • PureCircle is working with 25,000-plus stevia farmers in 16 countries across four continents while providing training to farmers, along with flexible financing options. Long-term partnership with leading beverages manufacturers:
    • For instance, PureCircle signed a five-year joint development and supply agreement with The Coca-Cola company in 2013

The company has formed an advisory committee of over 6,000 health and food professionals to strengthen its product innovation and development, and it also collaborates with key customers and focuses on developing as well as enhancing the product line continuously. For instance, products such as SG-95, NSF-02 and Alpha.

  • Ingredion is emphasising on acquisitions and mergers to expand product portfolio in areas where it has low market presence, especially in Asia Pacific region and the company is working with various stakeholders to expand its market presence in Middle East and Africa (MEA) region while focusing on becoming self-sufficient in raw materials in order to minimise import of products in these regions.

Stevia Industry Report Scope



Forecast period


Historical data available for


Market analysis

USD million for value

Key regions covered

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

Key countries covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC countries
  • Turkey
  • Northern Africa
  • South Africa

Key market segments covered

  • Nature
  • Form
  • End Use
  • Distribution Channel
  • Region

Key companies profiled

  • Tate & Lyle
  • Ingredion Incorporated
  • Cargill, Incorporated
  • PureCircle
  • Wisdom Natural Brands
  • Archer Daniel Midland Company
  • Van Wankum Ingredients
  • Whole Earth Sweetener Co., LLC
  • SteviaPac Food Innovation
  • Xinghua GL Stevia Co., Ltd
  • Frontier Co-op.
  • Nature's Answer
  • Steviva Brands
  • Swanson
  • The Truvia Company, LLC
  • Wisdom Natural Brands
  • Evolva Holding SA Nemours & Co.

Report coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & pricing

Available upon request

Stevia Industry Research by Category

By Nature:

  • Organic
  • Conventional

By Form:

  • Powder
  • Liquid
  • Dried leaves

By End Use:

  • Food & Beverage
    • Bakery & Confectionery
    • Dairy Products
    • Beverages
    • Others
  • Dietary Supplements
  • Household/Retail
  • Others

By Distribution Channel:

  • Business to Business
  • Business to Consumer
    • Hypermarkets/Supermarkets
    • Convenience Stores
    • Online Retail
    • Others

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa

- Companies Covered in This Report -

  • Tate & Lyle
  • Ingredion Incorporated
  • Cargill, Incorporated
  • PureCircle
  • Wisdom Natural Brands
  • Archer Daniel Midland Company
  • Van Wankum Ingredients
  • Whole Earth Sweetener Co., LLC
  • SteviaPac Food Innovation
  • Xinghua GL Stevia Co., Ltd
  • Frontier Co-op.
  • Nature's Answer
  • Steviva Brands
  • Swanson
  • The Truvia Company, LLC
  • Wisdom Natural Brands
  • Evolva Holding SA Nemours & Co.

- Frequently Asked Questions -

The global market for stevia has a value of US$ 416.5 Mn in 2023.

The global market for stevia has a value CAGR of 6.8% from 2018-2022.

The global market for stevia has a value of US$ 829.8 Mn in 2033.

The global market for stevia has a value CAGR of 7.9% from 2023-2033.

The top players hold more than 40-45% of the market share. They include Tate & Lyle, Ingredion Incorporated, Cargill, Incorporated, Archer Daniel Midland Company.

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