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The global steviol glycoside market was valued at USD 5 billion in 2023 and grew at a CAGR of 5% from 2024 to 2033. The market is expected to reach USD 8.14 billion by 2033. The rising awareness about stevia will drive the growth of the global steviol glycoside market.
Steviol glycoside is a chemical compound and it is derived from a plant called Stevia rebaudiana plant. They have a distinctive sweetness to them making them the ideal natural sweeteners. They are safe and free from additives. In fact, it is considerable sweeter than sucrose. It has no calories. It is stable under heat and different pH levels. It is water soluble. The water solubility and stability make its ideal for applications in various different dishes and beverages. It is effective in managing diabetes. The non-calorific nature of stevia also makes it a popular choice for weight management. stevia effectively mitigates glucose spikes which is a growing cause of concern. Stevia is also safe for dental health as it does not cause tooth decay. Stevia finds applications in the pharmaceutical industry besides the food, beverages, confectionery and bakery. Stevia is available in various forms like liquid, powder, tablets.
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The rising awareness about stevia – the growing health concerns driven by the increasing incidence of lifestyle diseases will bode well for the market’s growth. obesity and diabetes are on the rise given the sedentary lifestyle, unhealthy diet and lack of physical activity. The rising consumption of processed food high in sugar content contributes to this. Strict diets with no sweets are not appealing, sustainable and doesn’t work for anybody. Stevia is an ideal substitute for sugar and artificial sweeteners. It has no calories, making it optimal for weight management. additionally, it does cause glucose spikes which makes it effective for managing diabetes. The effectiveness of stevia to manage diabetes and obesity without compromising on sweetness contribute to its increasing demand in the market. furthermore, it does not compromise dental health, which is also a growing concern in both children and adults.
Cost of steviol glycoside – steviol glycoside is derived from the plant ‘Stevia rebaudiana’. The plant is cultivated under specific environmental conditions and the yield of stevia is also low. The low yields and controlled environments required for the cultivation increase production costs compared to traditional plants cultivated for sugar. The procurement, transportation and processing further add to costs. the processing involves extraction, purification, packaging, storage and transportation. Therefore, the limited production of steviol glycoside and its high cost will hamper the market’s growth.
Market dynamics – The rising awareness about the detrimental effects of sugar has increased the demand for alternatives. The growing interest of consumers in finding these alternatives is leading them to discover stevia, thereby increasing its visibility in the market. the growing health-conscious of consumers is also augmenting the rising awareness about stevia. Targeted marketing and strategic initiatives by market players to increase brand and product visibility through social media and ad campaigns is also favouring the steviol glycoside market. this increasing demand has encouraged market players to develop effective cultivation methods and practices along with efficient processing technologies to increase the supply of stevia. Therefore, the market dynamics are favouring the stevia market and will continue to do so during the forecast period.
The regions analysed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global steviol glycoside market, with a 38% market revenue share in 2023.
The increasing incidence of diabetes and obesity in the region is increasing the demand for stevia. The region offers ample stevia products increasing its accessibility for everyone. the growing health consciousness has increased the demand for healthier alternatives like stevia. The favourable regulatory environment also bodes well for the market. the presence of significant market players catering to the increasing consumer demand. Well established distribution network also contributes to the regional market’s growth.
North America Region Steviol Glycoside Market Share in 2023 - 38%
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The type segment is divided into steviolbioside, stevioside, rebaudioside A, and rebaudioside B. The stevioside segment dominated the market, with a market share of around 40% in 2023. Stevioside is derived from stevia rebaudiana plant. It is distinctly sweet and has no calories. It does not spike glucose levels. It is dominant because it was the first one to adopted, processed and marketed. Extensive research has been done in this type making it the established sub-segment in the market. it is familiar type making it reliable and trusted. Its early adoption also led to regulatory approval for the same, making it easier to market and sell this in different economies. it is versatile. It is used both commercially and residentially across variety of foods, beverages and medicines.
The processing method segment is divided into fermentation-based production and farming-based production. The fermentation-based production segment dominated the market, with a market share of around 55% in 2023. Fermentation-based production of steviol glycosides uses microorganisms. These microorganisms are genetically engineered facilitating rapid and large-scale production of steviol glycoside unlike farming-based production. This process gives a consistent quality and uniformity to the final product. The process is highly efficient and cost effective. It is also eco-friendly and sustainable.
The end use application segment is divided into food, beverage, medicine, chemical, and others. The medicine segment dominated the market, with a market share of around 39% in 2023. Stevia is used to mask the bitterness of medicines. This makes it easier for patients to take the medication, especially children. They mask the bitterness without causing any glucose spikes in the body. They do not add calories thereby not affecting patient’s weight. It is mandated and approved by regulatory authorities as well. the approval adds consumer acceptance and accords safety to these medications.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2023 | USD 5 Billion |
| Market size value in 2033 | USD 8.14 Billion |
| CAGR (2024 to 2033) | 5% |
| Historical data | 2020-2022 |
| Base Year | 2023 |
| Forecast | 2024-2033 |
| Region | The regions analysed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. Furthermore, the regions are further analysed at the country level. |
| Segments | Type, Processing Method and End Use Application |
As per The Brainy Insights, the size of the global steviol glycoside market was valued at USD 5 billion in 2023 to USD 8.14 billion by 2033.
Global steviol glycoside market is growing at a CAGR of 5% during the forecast period 2024-2033.
The market's growth will be influenced by the rising awareness about stevia.
Cost of steviol glycoside could hamper the market growth.
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global steviol glycoside market based on below mentioned segments:
Global Steviol Glycoside Market by Type:
Global Steviol Glycoside Market by Processing Method:
Global Steviol Glycoside Market by End Use Application:
Global Steviol Glycoside Market by Region:
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