Stevia Market Register Robust Growth with CAGR of 7% by 2029 | FMI Report

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Stevia Market Growth Overview, New Updates,
Trends by 2029 FMI Report

• June 2020

Report Id REP-GB-38 Published On Sep 17,2019
Category Food and Beverages
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Stevia Market Analysis
Future Market Insights recently published a
market study that offers an in-depth analysis of
the growth trajectory of the stevia market during
the forecast period, 2019-2029. The report
includes the various factors that are likely to
influence the overall dynamics of the stevia
market in the upcoming years including, the
current trends, opportunities, challenges,
restraints, and more. As per the report, the
stevia market was valued at US 310 million in
2019 and is forecasted to grow at a compounded
annual growth rate (CAGR) of around 7 during the
assessment period, 2019-2029.
Multiple factors are expected to shape the growth
of the stevia market in the upcoming years
including, growing demand for stevia as an
effective alternative solution for diseases
including diabetes, increase in the number of
diabetic patients worldwide, low-calorie content
of stevia, growing preference for plant-based
products, and rising awareness of  related to the
benefits of stevia.
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Stevia Market Analysis
Evolving Consumer Preferences Likely to Improve
Demand In the last few years, consumer
preferences have played a key role in shaping the
development of the food beverage sector. Thus,
according to the report, at present, as a
significant chunk of the global population is
leaning towards the consumption of natural and
plant-based products, manufacturers active in the
food beverage industry are largely focusing on
incorporating natural ingredients in their
products. Some of the major factors that are
contributing towards the growing adoption of
plant-based products include, ill-effects caused
by animals products, growing concerns for
animals, significant rise in the vegan
population, and more. The shifting consumer trend
towards the use of plant-based products is
expected to influence the growth of the stevia
market in the upcoming years.
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Stevia Market Analysis
Growing Awareness among Consumers to Fuel Market
Growth Although stevia is gradually garnering
significant attention worldwide as an effective
alternative for natural sugar, the benefits of
stevia still flutter around the grey area as far
as awareness is concerned. However, market
players operating in the market are curating
effective impactful marketing and promotional
strategies to increase the sales of stevia
products worldwide. In addition, market players
are actively promoting the benefits of stevia to
improve the overall awareness among consumers.
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Stevia Market Analysis
Stevia Market Competition Outlook According to
the report, at present, the global stevia market
is moderately competitive wherein top tier
companies account for nearly 35-40 of the market
share. In addition, the report reveals that
market players operating in the stevia market are
focusing on expanding their business through
inorganic strategies including, acquisitions,
mergers, collaborations and partnerships.
Further, the market players are also leaning
towards the adoption of innovative technologies
to enhance their product quality. Some of the
major market players involved in the stevia
market are, Cargill Incorporated, Ingredion
Incorporated, PureCircle Ltd., Tate and Lyle
Plc., Koninklijke DSM NV, and Sunwin Stevia
International, Inc. among others.
Ask an Analyst _at_ https//www.futuremarketinsights.
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