What Has Been The Historical And Current Growth Of The Stevia Market?
The stevia market has seen considerable growth due to a variety of factors.
• The market size of stevia witnessed a significant increase in the past few years. The growth from $0.92 billion in 2024 to an estimated $1.03 billion in 2025, attributed to a compound annual growth rate (CAGR) of 11.6%, signifies this increase. Factors contributing to this upward trend during the historical term include an emphasis on health and wellness, rising concern about obesity, preference towards organic ingredients, supportive regulations, and a shift in consumer preference away from artificial sweeteners.
What Can Be Expected from the Stevia Market in the Coming Years?
The stevia market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of stevia is projected to experience substantial growth in the ensuing years. By 2029, it is anticipated to reach $1.67 billion, with a compound annual growth rate (CAGR) of 12.8%.
The projected growth during the forecasted period can be accredited to an ongoing health conscious trend, increasing awareness of diabetes, the burgeoning food and beverage industry, a preference for products with clean labels, and global alterations in diet. The forecast period will likely see trends such as the launch of functional and wellness products infused with stevia, rise in its use in non-alcoholic and alcoholic beverages, introduction of sweet snacks and confectionery based on stevia, a shift towards clear and transparent labeling of stevia, and collaborations in the research and development of stevia.
What Are the Critical Driver Fuelling the Stevia Market's Growth?
Predictions suggest that the escalating prevalence of diabetes and obesity will drive the growth of the stevia market in the upcoming period. The surge in obesity has been linked to factors like unhealthy living habits, lack of physical activity, overeating, genetic predisposition, and heightened stress levels. These conditions can raise the susceptibility to diabetes, heart diseases, and some forms of cancer. For example, the UK's Office for Health Improvement and Disparities reported in April 2024 that as of the year ending November 2022, 63.8% of adults aged 18 and over were identified as overweight or obese. This indicates a 0.5% rise from the preceding year. As a result, it is anticipated that the demand for stevia will surge, aiding in the expansion of the market.
How Are The Segments Defined Within The Global Stevia Market?
The stevia market covered in this report is segmented –
1) By Product: Powder, Liquid, Leaf
2) By Nature: Organic, Conventional
3) By Application: Bakery, Dairy Food Products, Beverages, Dietary Supplements, Confectionery, Other Applications
Subsegments:
1) By Powder: Granulated Stevia Powder, Stevia Extract Powder
2) By Liquid: Liquid Stevia Drops, Concentrated Liquid Stevia
3) By Leaf: Dried Stevia Leaves, Fresh Stevia Leaves
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How Are New Trends Expected To Influence The Growth Of The Stevia Market?
Major manufacturers in the stevia market have been innovating with products like liquid stevia-based sweeteners, in efforts to cater to a broader consumer base, boost sales, and increase their revenue. Liquid stevia-based sweeteners are products that have been extracted from stevia plant leaves (Stevia rebaudiana) and processed into a liquid variant. For example, in July 2022, Sweegen, Inc., a US-based firm specializing in producing stevia-based sweeteners, unveiled Bestevia LQ. This particular product distinguishes itself with distinct attributes designed for use in carbonated beverages, sweets, liquid sweeteners, dessert sauces, and concentrated or flavored syrups. With a design that solves solubility issues, improves product stability, and ensures accurate dosage, Bestevia LQ is ideal for use in both laboratory and production settings. Importantly, it offers a convenient solution for enterprises with production facilities that don't use powdered stevia.
Who Are the Key Players in the Stevia Market?
Major companies operating in the stevia market include:
• Cargill Inc.
• Archer Daniels Midland Company
• PepsiCo Inc.
• The Coca-Cola Company
• Ingredion Incorporated
• WhiteWave Services Inc.
• Tate & Lyle plc
• SunOpta Inc.
• SweetLeaf Stevia
• BENEO GmbH
• Stevia Corp
• Real Stevia Company
• Sweet Green Fields LLC
• Guilin Layn Natural Ingredients Corp
• S&W Seed Co
• GL Stevia Co Ltd.
• Sunwin Stevia International Inc.
• PureCircle Ltd.
• Pyure Brands LLC
• Bioplus Life Sciences Pvt Ltd.
• Evolva Holding S.A.
• GLG Life Tech Corp
• Foodchem International Corporation
• Hunan Nutramax Inc.
• Sunrise Nutrachem Group Co Ltd.
• Zhucheng Haotian Pharma Co Ltd
• Wisdom Natural Brands
• Shandong Aojing Biotechnology Co Ltd.
• Morita Kagaku Kogyo Co Ltd
• Ganzhou Julong High-Tech Industrial Co Ltd.
• Arista Industries Inc.
• Martin Bauer GmbH Co
• Health Plus Inc.
• Kerry Group plc
• Whole Earth Brands Inc.
• Layn Corporation
• Taos Inc.
• Biolotus Technology Jiangsu Inc.
• Sino-Food Machinery Co Ltd.
• Nutra Food Ingredients LLC
What Is The Most Dominant Region In The Stevia Market?
Asia-Pacific was the largest region in the stevia market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the stevia market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
