The Stevia Market is Predict to reach USD 1.5 Billion by 2031, at a CAGR of 7.8%

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Stevia Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Stevia Market size is expected to reach $1.5 billion by 2031, rising at a market growth of 7.8% CAGR during the forecast period. In the year 2023, the market attained a volume of 12,488.77 tonnes, experiencing a growth of 11.5% (2020-2023).

The Reb A segment is generating the highest revenue in the Global Stevia Market by Type in 2023; thereby, achieving a market value of $746.6 million by 2031. With increasing concerns about obesity, diabetes, and other health issues related to excessive sugar consumption, consumers are seeking healthier alternatives. Reb A, being a natural, zero-calorie sweetener, has gained popularity as a substitute for sugar in various food and beverage products. Hence, these factors can assist in the expansion of the segment.

The Online segment is registering a CAGR of 8.5% during (2024 - 2031). Stevia manufacturers and brands have capitalized on the growth of e-commerce by establishing their online presence through company websites, e-commerce platforms (e.g., Amazon, Alibaba), and direct-to-consumer online stores. This direct-to-consumer approach allows them to reach a broader audience of consumers globally and offer personalized shopping experiences. Therefore, these factors will drive the expansion of the stevia market.

Stevia Market Size - By Region

The Powder segment is leading the Global Stevia Market by Form in 2023; thereby, achieving a market value of $616.5 million by 2031. Stevia powder offers zero-calorie sweetness, making it an attractive option for health-conscious consumers seeking to reduce their calorie intake and manage weight. Unlike sugar, which contributes to empty calories and is associated with various health concerns, stevia powder provides sweetness without adding calories, making it suitable for individuals following calorie-controlled diets or managing conditions like diabetes. Hence, the segment will grow rapidly in the coming years.

The Pharmaceuticals segment is experiencing a CAGR of 8.2% during (2024 - 2031). Stevia’s ability to provide sweetness without affecting blood glucose levels has positioned it as a valuable ingredient for pharmaceutical products to manage diabetes and metabolic disorders. Steviol glycosides do not impact insulin secretion or glycemic control, making them suitable for diabetic-friendly formulations. As per the data from the Government of Mexico, in the fourth quarter of 2023, pharmaceutical manufacturing recorded a gross domestic product of $5.18T MX. Hence, these factors will boost the demand in the segment.

Full Report: https://www.kbvresearch.com/stevia-market/

The Asia Pacific region dominated the Global Stevia Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $601.9 million by 2031. The Europe region is anticipating a CAGR of 7.2% during (2024 - 2031). Additionally, The North America region would exhibit a CAGR of 7.4% during (2024 - 2031).

List of Key Companies Profiled

Stevia Market Report Segmentation

By Distribution Channel (Volume, Tonnes, USD Billion, 2020-2031)

Offline
Online

By Form (Volume, Tonnes, USD Billion, 2020-2031)

Powder
Liquid
Leaf

By End User (Volume, Tonnes, USD Billion, 2020-2031)

Food & Beverages
Retail
Pharmaceuticals
Others

By Type (Volume, Tonnes, USD Billion, 2020-2031)

Reb A
Reb M
Reb D

By Geography (Volume, Tonnes, USD Billion, 2020-2031)

North America
- US
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA

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The Stevia Market is Predict to reach USD 1.5 Billion by 2031, at a CAGR of 7.8%

Special Offering :

Stevia Market Growth, Trends and Report Highlights

List of Key Companies Profiled

Stevia Market Report Segmentation

North America Stevia Market Size, Growth Trend Report 2031

LAMEA Stevia Market Size & Analysis | Forecast Report 2031

Europe Stevia Market Size & Industry Research Report 2031

Asia Pacific Stevia Market Size | Growth Drivers By 2031