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Stevia Market

Stevia Market

The market for Stevia was estimated at $846 million in 2024; it is anticipated to increase to $1.57 billion by 2030, with projections indicating growth to around $2.61 billion by 2035.

Report ID:DS1901030
Author:Debadatta Patel - Senior Consultant
Published Date:January 2025
Datatree
Food & Beverage
Packaged & Processed F&B
Stevia
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Report Summary
Table of Contents
Methodology
Market Data

Global Stevia Market Outlook

Revenue, 2024

$846M

Forecast, 2034

$2.36B

CAGR, 2025 - 2034

10.8%

The Stevia industry revenue is expected to be around $937.7 million in 2025 and expected to showcase growth with 10.8% CAGR between 2025 and 2034.

Stevia comes from the Stevia rebaudiana plant. Is well known for its intense sweetness and lack of calories. It offers an option for people looking to make healthier choices and has played a key role, in theindustry'sefforts to reduce sugar content in products.

Stevia market outlook with forecast trends, drivers, opportunities, supply chain, and competition 2024-2034

Market Key Insights

  • The Stevia market is projected to grow from $846.3 million in 2024 to $2.36 billion in 2034. This represents a CAGR of 10.8%, reflecting rising demand across Natural Sweetener, Agriculture and Pharmaceutical.
  • PureCircle, Cargill, Tate & Lyle are among the leading players in this market, shaping its competitive landscape.
  • U.S. and China are the top markets within the Stevia market and are expected to observe the growth CAGR of 7.9% to 11.3% between 2024 and 2030.
  • Emerging markets including Nigeria, Brazil and Indonesia are expected to observe highest growth with CAGR ranging between 10.4% to 13.5%.
  • Transition like Shift Towards Natural Sweeteners is expected to add $61 million to the Stevia market growth by 2030
  • The Stevia market is set to add $1.5 billion between 2024 and 2034, with manufacturer targeting Baking & Cooking Application projected to gain a larger market share.
  • With Growing health consciousness, and Technological advancements in stevia extraction, Stevia market to expand 179% between 2024 and 2034.
stevia market size with pie charts of major and emerging country share, CAGR, trends for 2025 and 2032

Opportunities in the Stevia

Stevias potential in the cosmetics sector has also not been fully explored yet. Could be promising due, to its natural antioxidant properties that could benefit skincare and cosmetics usage.

Growth Opportunities in North America and Europe

North America Outlook

The Stevia market in North America is well established and fiercely competitive due to the backing of regulations supporting sweeteners. Numerous multinational corporations dominate the market for Stevia which results in rivalry. The growth potential can be seen in the rising trend of health awareness as consumers now favor sweeteners, over artificial ones. As a result the popularity of Stevia is increasing significantly.

Europe Outlook

Europe's Stevia market is on the rise thanks to a growing interest in alternatives to artificial sweeteners among consumers in Europe countries like Germany who prioritize using all natural ingredients in their food items. This has opened up possibilities for Stevia products given the fierce competition, from multiple companies offering a range of high quality Stevia options in the market.

Market Dynamics and Supply Chain

01

Driver: Growing Health Consciousness, and Surging Demand in Food & Beverage Sector

As lifestyle related illnesses become more prevalent in society today a growing number of individuals are also opting for living habits. This shift towards prioritizing health has also contributed to the growth of the Stevia industry given that Stevia also serves as a sweetener, with zero calories that complements healthier dietary choices. The increasing need for sweeteners in the food and beverage sector has also fueled the growth of the Stevia market significantly. Stevias flexibility in substituting sugar across food and drink items, like baked goods and beverages has also opened up lucrative market prospects.
With the progress in technology making the extraction of stevia easier and cheaper lately has also made it widely available and affordable for consumers everywhere now than ever before! These technological improvements have also not expanded the market reach but also boosted supply chains leading to a remarkable growth, in the Stevia industry.
02

Restraint: Regulatory Hurdles

A significant obstacle in the Stevia industry involves the regulations surrounding the utilization and labeling of products derived from Stevia plants worldwide countries impose varying standards and rules that pose challenges, for producers aiming to promote their goods consistently across different markets.
03

Opportunity: Expanding into the Health and Wellness Sector and Microencapsulation Technologies

The increasing worldwide trend towards prioritizing health and the growing desire for products with low sugar content and zero calories present an opportunity for Stevias expansion in the market. The natural sweetness of Stevia offers a calorie alternative that appeals to health conscious individuals and those managing conditions such as diabetes. Furthermore Stevia could also have benefits for sports nutrition nutritious snacks and meal planning, for those following a diet.
Microencapsulating Stevia could play a role in expanding its applications and prolong its freshness on the shelves. The process of microencapsulation helps to mask the taste that Stevia naturally possesses and thus makes it more attractive to those, with refined tastes.
04

Challenge: Consumer Perception

Consumer perception serves as a constraint as well when it comes to Stevia adoption in the market scenario despite its natural roots; a lot of consumers tend to link Stevia with artificial sweeteners triggering unfavorable associations that could impact the acceptance of products containing it negatively too. A contributing factor to this is also that the taste profile of Stevia varies from sugar and while sweeter, in comparison; it may require some adjustment period which might not appeal to users initially thereby restricting market expansion potential too.

Supply Chain Landscape

1
Cultivation & Harvesting

PureCircle

GLG Life Tech Corp

2
Extraction & Refinement

Cargill

Tate & Lyle

3
Formulating Products

Nestle

The Coca-Cola Company

4
Marketing & Distribution

PepsiCo

Whole Foods Market

*The illustration highlights the key stakeholders within the supply chain ecosystem.

Applications of Stevia in Natural Sweetener, Agriculture & Pharmaceutical

Natural Sweetener

Stevia is a substitute for sugar that contains zero calories and is used in food and drinks due to its intense sweetness without added sugar content while maintaining taste quality. This trend has attracted health individuals and prompted major companies, like Coca Cola to include Stevia in their low calorie beverages.

Pharmaceutical

In the field of pharmaceuticals. Stevia shows promise in treating diabetes and high blood pressure by proving its worth through its track record of healing effects It is included in drug formulations aimed at lowering blood sugar and blood pressure levels Big pharmaceutical companies, like Merck and Pfizer are testing out drugs based on Stevia.

Agriculture

In settings Stevia serves as a biopesticide with minimal harm to the environment promoting eco friendly farming methods and offering a non toxic solution against pests in an industry dominated by chemical options like PureCircle leading the way, in utilizing Stevia for sustainable agriculture initiatives.

Recent Developments

December 2024

PureCircle has introduced a line of top notch stevia leaf sweeteners that provide enhanced sweetness and a better taste experience.

October 2024

Cargill launched a stevia and erythritol mixture to cater to the growing need for natural low calorie sweeteners, in the beverage sector.

August 2024

Archer Daniels Midland increased their stevia production to meet the growing demand, for sweeteners derived from plants.

Stevia has become increasingly popular lately because of the trend towards health awareness. Recent changes in the market show that more people and companies are choosing this plant based sweetener with zero calories as a substitute, for sugar and artificial sweeteners.

Impact of Industry Transitions on the Stevia Market

As a core segment of the Packaged & Processed F&B industry, the Stevia market develops in line with broader industry shifts. Over recent years, transitions such as Shift Towards Natural Sweeteners and The wave of technological innovation in extraction methods have redefined priorities across the Packaged & Processed F&B sector, influencing how the Stevia market evolves in terms of demand, applications and competitive dynamics. These transitions highlight the structural changes shaping long-term growth opportunities.
01

Shift Towards Natural Sweeteners

More and more consumers are shifting towards choices by avoiding sugar and artificial sweeteners due to concerns about health issues such as diabetes and obesity. The stevia market is gaining from this trend as stevia is a natural sugar substitute with zero calories that doesnt spike blood glucose or insulin levels. This move, towards using label and healthier ingredients is encouraging food and beverage companies to include stevia in their products. This industry transition is expected to add $61 million in the industry revenue between 2024 and 2030.
02

The wave of technological innovation in extraction methods

The way stevia is made has improved a lot over time. This includes extracting and refining the components known as steviol glycosides.
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