The global stevia market reached a volume of 7,432 Tons in 2020. The market is further projected to exhibit a CAGR of 8.6% during 2021-2026. As per the analysis by IMARC Group, the top stevia manufacturers are continually investing in the development of innovative product variants. For instance, the Vancouver-based GLG Life Tech Corp launched Organipure, an organic line of stevia sweeteners, with certifications recognized in both North America and Europe. Apart from this, rising health consciousness has encouraged consumers to shift from artificial sweeteners to natural alternatives, such as stevia. Other factors, including the rising demand for sugar-free and low-calorie products, lifestyle changes, growing disposable incomes and government support to reduce sugar intake, are influencing the global demand for stevia.
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GLG Life Tech Corporation
Headquarter: Richmond, British Columbia, Canada
GLG Life Tech Corp. is the world’s leading sustainable and vertically integrated producer of zero-calorie natural sweeteners, including high-purity stevia extract and high-purity monk fruit extract. Although it is a Canadian company, GLG Life grows its stevia plants, and operates four production facilities in China. The company also develops, breeds, grows and harvests the stevia plant and produces high-grade stevia extract to sell it to food and beverage manufacturers. While it sells to more than 30 companies, its biggest customer is agribusiness giant Cargill, which makes its own branded zero-calorie sweetener, Truvia, from GLG Life's stevia extract. Such sweeteners produced from stevia extract can be 200-300 times sweeter than sugar and are considered a natural alternative to artificial sweeteners.
Headquarter: Kuala Lumpur, Malaysia
PureCircle has a supply of sweet and natural ingredients for the food and beverage industry, including the US giants PepsiCo and Coca-Cola Co. Through joint ventures, the company is developing natural products based on plant extraction, such as a zero-calorie sugar alternative derived from the South American stevia plant. In addition, under a global collaboration with the Swiss fragrance and flavor firm Firmenich, PureCircle is marketing its high-purity Reb A sweetener substitute to consumer food and drink manufacturers in the US, Europe, Australia, and other parts of the world. It has also signed contracts with PepsiCo and Whole Earth Sweetener Company to supply Reb A for beverages and tabletop sweeteners under the PureVia brand.
Tate & Lyle PLC
Headquarter: London, the United Kingdom
Tate & Lyle PLC, together with its subsidiaries, provides ingredients and solutions to the food, beverage, and other industries in the United States, the United Kingdom, other European countries, and internationally. It operates through three segments: Food & Beverage Solutions, Sucralose, and Primary Products. The company offers texturants, including corn-based starches and clean-label starches; sweeteners, such as high intensity sweeteners and specialty sweeteners; health and wellness ingredients comprising dietary fibers and oat proteins; and stabilizers. It also provides industrial starches and acidulants; commodities such as corn gluten meal and feed; and ethanol. In addition, the company is involved in in-house treasury, pension, and reinsurance businesses; citric acid and sucralose production; and research and development businesses, as well as the provision of Internet services.
Stevia First Corp.
Headquarter: Yuba City, California, the United States
In 2011, Stevia First Corp. was launched with a mission to provide a healthy mainstream solution for the twin diabetes and obesity epidemics. Now, with most full-time staff located at the company’s R&D campus in Yuba City, California, the company has grown to include more than 20 researchers and technical experts, including ones spread across the world. The company is seeking to establish a vertically integrated enterprise in the US that uses technological expertise in fermentation-based stevia production and improves upon traditional stevia farming and processing methods.
Headquarter: Chicago, Illinois, the United States
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. The company operates through four segments: Origination, Oilseeds, Carbohydrate Solutions, and Nutrition. It buys, stores, cleans and transports agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, as well as resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry. The company also engages in agricultural commodities merchandising and handling activities; and activities related to structured trade finance and import and distribution of agricultural feed products. In addition, it offers vegetable oils and protein meals; ingredients for the food, feed, energy, and industrial products industries; crude vegetable oils, salad oils, margarine, shortening, and other food products; and partially refined oils to produce biodiesel and glycols for use in chemicals, paints, and other industrial products. It also engages in futures commission merchant and insurance services.
Sweet Green Fields LLC
Headquarter: Chicago, Illinois, the United States
Sweet Green Fields, LLC line of business includes the wholesale distribution of groceries and related products. Its history goes back to 1999 when founder Bill Francis and Sweet Aloha Farms started their work on stevia. Their original focus was on developing a patented method of extracting high purity Reb-A and breeding stevia plants with a far greater amount of Reb-A. With this technology established, in 2007 Sweet Green Fields was formed, which brought Sweet Aloha Farms together with a group of Australian and New Zealand investors, who also hold interests in the Sanitarium Health and Wellness Company in that region. However, at the inception of Sweet Green Fields, the focus turned to commercializing the stevia technology and selling stevia products to the world.
About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the stevia industry, which has enabled clients to set up and expand their businesses successfully. Some of the company’s offerings include:
- Market Research
- Plant setup
- Plant Expansion
- Marketing and sales
- Procurement and Distribution
- Innovation and Product Development