Stevia Market Report by Extract Type (Powder, Liquid, Leaf), End Use (Beverages, Food Products, Table Top Sweeteners, Pharmaceuticals, and Others), and Region 2023-2028

Stevia Market Report by Extract Type (Powder, Liquid, Leaf), End Use (Beverages, Food Products, Table Top Sweeteners, Pharmaceuticals, and Others), and Region 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A573
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Market Overview:

The global stevia market size reached US$ 705 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,132 Million by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028. The rising consumer preference for natural sweeteners, increasing awareness of health concerns related to sugar consumption, and expanding product applications in the food and beverage industry are some of the major factors propelling the market.

Report Attribute 
Key Statistics
Base Year
Forecast Years
Historical Years
Market Size in 2022
US$ 705 Million
Market Forecast in 2028
US$ 1132 Million
Market Growth Rate (2023-2028) 8.1%

Stevia is a natural, zero-calorie sweetener derived from the leaves of the Stevia rebaudiana plant, native to South America. It has become widely popular as a sugar substitute due to its sweet taste, which comes from natural compounds called steviol glycosides. Stevia provides a sweetness similar to sugar but without the calories, making it an attractive option for those looking to reduce their sugar intake. It is commonly used in various food and beverage products, including soft drinks, desserts, and dietary supplements. At present, stevia is gaining immense traction across the globe owing to its potential to satisfy sweet cravings while supporting calorie reduction and blood sugar management.

Global Stevia Market

The rising consumer trend toward healthier eating habits, coupled with a heightened focus on reducing sugar and calorie intake, will stimulate the growth of the stevia market during the forecast period. Stevia, as a natural, zero-calorie sweetener, aligns with these preferences and is increasingly used as a sugar substitute in various food and beverage products. Moreover, the growing awareness of health concerns related to high sugar consumption, such as obesity and diabetes has augmented the demand for stevia-based products. Apart from this, regulatory bodies in many countries are approving steviol glycosides (the sweet compounds in stevia) as safe food additives, which in turn, has accelerated the product adoption rate. Additionally, the expanding applications of stevia in the food and beverage industry, including its use in carbonated drinks, flavored water, and dairy products, are propelling market growth. Furthermore, the shift toward cleaner labels and the escalating demand for natural ingredients in consumer products are contributing to market growth.

Stevia Market Trends/Drivers:

Rising health-conscious consumer trends

The rising trend among consumers to prioritize health and wellness is a major factor driving market growth. As people become more health-conscious, there is a heightened awareness of the adverse effects of excessive sugar consumption, such as obesity, diabetes, and dental issues. As a result, consumers are actively seeking alternatives to sugar that allow them to enjoy sweetness without the associated health risks. Stevia, as a natural sweetener with zero calories, stands out as an attractive choice. It provides the desired sweetness without contributing to calorie intake or causing blood sugar spikes. This aligns perfectly with the preferences of health-conscious individuals who are looking to make better dietary choices. As a result, the demand for stevia has escalated across a wide range of food and beverage products, contributing significantly to its market growth.

Increasing regulatory approvals and acceptance

The widespread acceptance of stevia in the food and beverage industry is closely linked to regulatory approvals and safety assessments by government agencies around the world. Over the years, various countries and regions have evaluated the safety of steviol glycosides and approved their use as food additives. These regulatory green lights have instilled confidence in both manufacturers and consumers, assuring them of the safety of stevia as a sweetening agent. As a result, the market for stevia has expanded beyond niche health food stores into mainstream supermarkets and restaurants, where it is now a common feature in sugar-free or reduced-sugar products. This regulatory acceptance has played a pivotal role in driving the growth of the global stevia industry.

Growing demand for natural ingredients

Increasing consumer preferences for natural ingredients in food and beverages represent another significant growth-inducing factor. Modern consumers are scrutinizing product labels more than ever, looking for clean, simple ingredients with minimal processing. Stevia fits this demand perfectly as it is derived from the leaves of the Stevia rebaudiana plant, making it a plant-based, minimally processed sweetener. The natural origin of stevia aligns with the broader clean label movement, where consumers seek transparency and authenticity in the products they purchase. As a result, food and beverage manufacturers are incorporating stevia into their formulations to meet this demand for naturalness. The growth of the stevia market is further fueled by its versatility, enabling its use in a wide range of products, from soft drinks to yogurt, where its natural sweetness enhances product appeal and aligns with rising consumer preferences for natural, wholesome ingredients.

Stevia Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market report, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on extract type and end use.

Breakup by Extract Type:

  • Powder
  • Liquid
  • Leaf

Powder represents the most popular extract type

The report has provided a detailed breakup and analysis of the market based on the extract type. This includes powder, liquid, and leaf. According to the report, powder represented the largest segment.

Powder refer to finely processed forms of steviol glycosides derived from the Stevia rebaudiana plant. These extracts are created by isolating the sweet compounds from the leaves, refining them, and drying them into a powdered form. Powdered extracts are a key driver in the stevia market for several reasons. Moreover, they offer convenience to both consumers and manufacturers. As a highly concentrated form of sweetness, a small amount of powdered stevia extract can replace a larger quantity of sugar, reducing the need for bulky liquid forms or fillers. This is especially advantageous for product formulation, as it allows for precise control of sweetness levels.

Apart from this, powdered extracts have a longer shelf life and are easier to store and transport than their liquid counterparts. This makes them suitable for a wide range of applications, from beverages to baking. Furthermore, the ease of handling and measuring powdered stevia extract contributes to its growing popularity among consumers looking to reduce sugar intake and achieve better control over their sweetening choices.

Breakup by End Use:

  • Beverages
  • Food Products
  • Table Top Sweeteners
  • Pharmaceuticals
  • Others

Beverages account for the majority of market share

A detailed breakup and analysis of the market based on the end use has also been provided in the report. This includes beverages, food products, table top sweeteners, pharmaceuticals, and others. According to the report, beverages accounted for the largest market share.

Beverages encompass a wide array of liquid-based products, including soft drinks, flavored water, teas, and juices, where stevia is used as a natural sweetener. The influence of beverages on the stevia market is substantial and multifaceted. Moreover, as consumers increasingly seek healthier and lower-calorie alternatives to traditional sugary beverages, beverage manufacturers are turning to stevia as a preferred sweetening solution. Stevia's natural origin, zero-calorie profile, and ability to mimic the taste of sugar make it an ideal choice to meet these changing consumer preferences.

Furthermore, as governments and health organizations worldwide continue to emphasize the reduction of sugar consumption to combat rising obesity and diabetes rates, beverage makers are responding by reformulating their products with stevia. The potential to create low-calorie and reduced-sugar beverages while maintaining taste satisfaction is acting as a major driving force behind stevia's increasing prominence in the beverage industry.

Breakup by Region:

Global Stevia Market

  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • North America
    • United States
    • Canada
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Middle East and Africa
    • Turkey
    • Saudi Arabia
    • Iran
    • United Arab Emirates
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Chile
    • Peru
    • Others

Asia-Pacific exhibits a clear dominance in the market

The report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); the Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates, and others); and Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others).  According to the report, Asia-Pacific accounted for the largest market share.

Asia-Pacific held the biggest market share since the region is home to several of the world's largest and fastest-growing economies, such as China and India. The rising disposable incomes and expanding middle-class populations in these countries have led to a higher consumer spending on healthier food and beverages. Stevia, with its natural, zero-calorie sweetness, aligns perfectly with the growing health-consciousness among consumers in the Asia-Pacific region.

Moreover, the widespread use of stevia as a sugar substitute in traditional Asian cuisine and beverages has deep cultural roots. As consumers in Asia-Pacific countries seek to balance tradition with modern health concerns, the demand for stevia as a natural sweetening solution continues to grow. Apart from this, the Asia-Pacific region is a significant producer of stevia, with countries like China being major exporters of steviol glycosides, the sweet compounds in stevia. This regional production capability ensures a steady supply of stevia to meet the growing global demand.

Furthermore, governments in the region have been supportive of the stevia industry, often providing incentives and regulatory approvals for its use as a safe sugar substitute. These factors collectively drive the expansion of the stevia market in Asia-Pacific, making it a pivotal contributor to the global stevia industry's growth.

Competitive Landscape:

The market is experiencing steady growth as key players are actively innovating to meet evolving consumer demands and expand their product offerings. One notable innovation is the development of stevia-based sweeteners with improved taste profiles. Several leading companies are investing in research and development (R&D) to overcome the lingering aftertastes associated with stevia, creating formulations that closely mimic the taste of sugar. Additionally, there has been a heightened focus on expanding the applications of stevia beyond tabletop sweeteners and into a broader range of food and beverage (F&B) products. This includes innovations in stevia-sweetened beverages, dairy products, baked goods, and condiments. Furthermore, sustainable sourcing and production methods have gained attention, with companies exploring environmentally friendly cultivation practices and supply chain transparency to meet the escalating demand for responsibly sourced stevia. These innovations reflect the industry's commitment to addressing consumer preferences for healthier, natural, and sustainable alternatives to traditional sugar.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

  • Archer-Daniels-Midland Company
  • Cargill Incorporated
  • GLG Life Tech Corporation
  • Guilin Layn Natural Ingredients Corp.
  • Hunan NutraMax Inc.
  • Ingredion Incorporated
  • Morita Kagaku Kogyo Co. Ltd.
  • Pyure Brands LLC
  • Sunwin Stevia International Inc
  • Tate & Lyle PLC
  • The Real Stevia Company AB
  • Wisdom Natural Brands
  • Zhucheng Haotian Pharm Co. Ltd.

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Recent Developments:

  • In March 2022, Cargill Incorporated introduced an innovative approach to sweetening its stevia products by leveraging its EverSweet + ClearFlo technology. This strategic move aims to enhance the appeal and functionality of the company’s stevia sweetener offerings. EverSweet + ClearFlo represents a significant advancement in the field of stevia-based sweeteners. This technology involves combining Cargill's high-quality stevia sweeteners with natural flavors. This enables the company to address an essential aspect of sweeteners – taste.
  • In April 2020, Ingredion Incorporated acquired PureCircle Limited, leading Yielders and innovators of plant-based stevia sweeteners for the food and beverage industries worldwide, known for its innovative approach to producing sweeteners derived from the stevia plant, a natural alternative to sugar. Ingredion's acquisition of a significant 75% stake in PureCircle underscores its commitment to sugar reduction solutions, aligning with the increasing consumer demand for healthier, low-calorie sweetening options.
  • In December 2020, Tate & Lyle PLC acquired Sweet Green Fields (SGF), a leading global stevia solutions business. This acquisition enhances Tate & Lyle's capabilities to provide innovative sweetener solutions to its customers worldwide. By integrating SGF's expertise and resources, the company gains a competitive edge in the development of foods and beverages that are lower in sugar and calories ad boast cleaner labels—an attribute increasingly sought after by consumers and manufacturers.

Stevia Market Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Million, Metric Tons
Scope of the Report Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
  • Extract Type
  • End Use
  • Region
Extract Types Covered Powder, Liquid, Leaf
End Uses Covered Beverages, Food Products, Table Top Sweeteners, Pharmaceuticals, Others
Regions Covered Asia Pacific, North America, Europe, Middle East and Africa, Latin America
Countries Covered China, Japan, India, South Korea, Australia, Indonesia, United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Saudi Arabia, Iran, United Arab Emirates, Brazil, Mexico, Argentina, Colombia, Chile, Peru
Companies Covered Archer-Daniels-Midland Company, Cargill Incorporated, GLG Life Tech Corporation, Guilin Layn Natural Ingredients Corp., Hunan NutraMax Inc., Ingredion Incorporated, Morita Kagaku Kogyo Co. Ltd., Pyure Brands LLC, Sunwin Stevia International Inc, Tate & Lyle PLC, The Real Stevia Company AB, Wisdom Natural Brands, Zhucheng Haotian Pharm Co. Ltd., etc.

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Benefits for Stakeholders:

  • IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the stevia market from 2017-2028.
  • The research report provides the latest information on the market drivers, challenges, and opportunities in the global stevia market.
  • The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the stevia industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Key Questions Answered in This Report

The global stevia market was valued at US$ 705 Million in 2022.

We expect the global stevia market to exhibit a CAGR of 8.1% during 2023-2028.

The rising consumer health consciousness, along with the escalating demand for stevia, as it helps in controlling diabetes, facilitating weight loss, regulating blood pressure and sugar levels, etc., is primarily driving the global stevia market.

The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of stevia.

Based on the extract type, the global stevia market has been divided into powder, liquid, and leaf. Among these, powder currently exhibits a clear dominance in the market.

Based on the end use, the global stevia market can be categorized into beverages, food products, table top sweeteners, pharmaceuticals, and others. Currently, beverages account for the largest market share.

On a regional level, the market has been classified into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.

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Stevia Market Report by Extract Type (Powder, Liquid, Leaf), End Use (Beverages, Food Products, Table Top Sweeteners, Pharmaceuticals, and Others), and Region 2023-2028
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