USD 4.9 Billion
Steviol Glycoside Market Size, Share, Growth Analysis, By Type(Stevioside, Glucoside A, and Others), By Processing Method(Electrical & Electronics, Construction, Medical, Automotive), By End-Use(Food, Beverage, Medicine, Chemical), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2416 |
Region:
Global |
Published Date: April, 2024
Pages:
187
|Tables:
97
|Figures:
69
Steviol Glycoside Market Insights
Global Steviol Glycoside Market size was valued at USD 4.9 Billion in 2022 and is poised to grow from USD 5.05 Billion in 2023 to USD 7.58 Billion by 2031, growing at a CAGR of 5.20% in the forecast period (2024-2031).
The increasing popularity of plant-based foods and the rapid growth in the adoption of vegan lifestyles across the globe. A significant shift in consumer consciousness towards environmental, ethical and health-conscious considerations greater focus on innovation and innovation drives well-established companies to expand their business growth and share, are the key factors affecting market growth. Moreover, due to its many beneficial properties and ability to accept as safe and secure methods, including nutritional supplements as functional foods and herbs, it gains great traction for diabetics as be used as major components in a wide range of chemicals.
The product is considered more secure if various major regulatory authorities such as the US. The Food and Drug Administration and the European Food Safety Agency gain traction for use in bakery products, table sweeteners, milk and foods, including some sugar substitutes Increasing focus on exploring its health benefits a possibility and increasing investments in research and development activities to develop products with more advanced qualities and properties could drive the market growth.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Fermentation-based
Fastest Growth
Farming-based
Growth Rate
5.20% CAGR
Global Steviol Glycoside Market ($ Bn)
Country Share for North America Region (%)
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Steviol Glycoside Market Segmental Analysis
The steviol glycoside market segmentation, based on type, includes stevioside, glucoside A, and others. Based on end users, the steviol glycoside market segmentation includes food, beverage, and others. The steviol glycoside market segmentation, based on processing method includes fermentation-based production, farming based production. The steviol glycoside market segmentation, based on end-use application includes food, beverage, medicine, chemical, others. By Region, the report provides market insights into Europe, North America, Asia-Pacific, and the Rest of the World.
Analysis by Processing Method
The fermentation-based process is expected to maintain a significant market share throughout the forecast period, primarily driven by its ability to provide a controlled and sustainable approach to reducing stress occurring on agricultural soil and water resources through increasing development helps in biotechnology, which makes it an effective and cost-effective way to produce steviol glycosides than others. Furthermore, it has a lower environmental impact in terms of land use, pesticide use and consumption, namely consumers who are looking for environmentally friendly products.
The farming-based production segment accounted for the largest market share in terms of revenue by 2022, owing to the increased number of innovations in agricultural practices, including improved farming techniques and crop production, a resulted in higher yields and higher quality steviol became glycosides which contributed to the growth of agriculturally based production in an increasing way.
Analysis by End-Use
The medicines are expected to increase the maximum increases in subsequent years, especially for people with diabetes or reduce medications and supplements for people who want to reduce their choice of medications and wear them popular stavioll gliicoseds and widespread use encouraged in recognition of the extended product and the extensive trials. It is more attractive to the patients and helps them take better care of their health.
The food and beverages segment led the industry market in terms of notable share by 2022, mainly due to increased use of low-calorie and sugar-free products with natural ingredients and to consuming global resources tackling the growing worldwide cleaner.
Global Steviol Glycoside Market By Processing Method (%)
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Steviol Glycoside Market Regional Insights
The North America region dominated the global market, owing to the rapid emergence of apple habit and increasing health-conscious consumer choice of products with powerful ingredients such as steviol glycosides, and FDA for product delivery used in a variety of areas. With widespread approval, including pharmaceuticals, pharmaceuticals and food and beverages. Furthermore, there is likely to be increased production of beverages in the region and a focus among major beverage manufacturers to include such flavor enhancers in their product offerings to enhance their taste and quality improve will feed regional market growth.
Asia Pacific is expected to emerge as the fastest growing region with a robust CAGR during the forecast period, driven by changes in consumer preferences for food and beverages and additives. This increase in traditions to reduce the amount of sugar and improve quality is projected to help draw significant revenues from emerging nations such as India and China, thereby helping the overall region register fastest growth rate during the forecast period.
Global Steviol Glycoside Market By Geography
- Largest
- Fastest
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Steviol Glycoside Market Dynamics
Drivers
Growing Demand for Food Processors from Food Manufacturers
- The global steviol glycosides market is performing well due to increased demand from food manufacturers for artificial sweeteners. This is a safe and secure option for diabetics. Growing demand by food manufacturers for confectionery products such as sparkling juices, yogurt, fruit and dairy beverages, and flavoring on confectionery products provides more and new opportunities for market growth. This helps foods taste better longer than sugar. Steviol glycosides are in high demand in the global market as the consumer is more interested in consuming food ingredients or medicines quickly and safely.
Rising Use of Steviol Glycosides
- The pharmaceutical industry uses steviol glycosides as an ingredient in a wide range of products such as dietary supplements, herbs, functional foods. Moreover, this steviol glycoside is consumed orally in large amounts and then helps with high blood pressure levels heart disease, is one of the leading causes of stroke and kidney failure. Thus, the increasing use of steviol glycosides in pharmaceuticals is expected to boost the market growth during the forecast period.
Restraints
Side Effects Associated with Use of Steviol Glycosides
- People who are allergic to steviol glycosides should avoid taking this product. In some cases, steviol can cause anaphylaxis, a severe allergic reaction. Symptoms of allergy include nausea, general weakness, difficulty breathing, umbrella irritation, or swallowing after ingestion of steviol glycosides are major market restraints of the development process.
Excessive Consumption of Sugars
- Excessive consumption of added sugars is commonly found in processed foods, sodas, candies and other commercial products. Excessive consumption of added sugars is associated with many health problems, including obesity, type 2 diabetes, heart disease, and dental problems on the list.
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Steviol Glycoside Market Competitive Landscape
The competitive environment of the Global Steviol Glycoside Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Established organizations within the industry leverage techniques inclusive of product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Additionally, the market is witnessing elevated opposition from local and neighborhood producers supplying cost-powerful options.
Top Player’s Company Profiles
- Cargill Incorporated
- Evolva
- GLG Life Tech Corporation
- Ingredion Incorporated
- Kerry Inc.
- Koninklijke DSM N.V.
- Layn Corporation
- Morita Kagaku Kogyo Co. Ltd.
- Stevia Extraction Technology
- Sunrise Nutrachem Group
- Sunwin Stevia International Inc.
- Tate & Lyle
- Zhucheng HaoTian Pharma Co. Ltd.
Recent Developments
- March 2022: Description of steviol glycosides, including the four main technologies used when producing steviol glycosides, initiated by Codex Alimentarius, the authority on food standards and safety These include fermented steviol glycosides, stevia leaves extracted, glucosylated steviol glycosides, biotransformed steviol glycosides.
- January 2022: Ingredion recently released its latest product, which boasts a delicious texture and is coated in touted natural sweetness. The most recent brand, PureCircle NSF-13, was developed to provide flavor for a wide range of products including bread, beverages and dairy products PureCircle NSF-13, labeled as "flavour building" and steviol glycosides such as Reb M. It can help certain flavor tones, primarily brown notes with a particularly sweet taste, it can also help reduce any bitterness.
- In January 2022 - Codex Alimentarius, International Food Standards and Safety Commission, included steviol glycosides with four main technologies. These will then include steviol glycosides derived from glucosylated steviol glycosides, biotransformation, stevia leaf extract and steviol glycosides from fermentation.
Steviol Glycoside Key Market Trends
- Rising Widespread Use in Pharmaceutical Industry: The global steviol glycoside market CAGR is driven by sectors such as food beverages, FMCG, cosmetics, etc. The growing market for dairy products has increased due to the high consumption of steviol glycoside. This may increase the demand for steviol glycosides. Steviol Glycosides provide users with various health benefits. The food and beverage industry are growing, which contributes to the growth of the steviol glycosides market. Steviol glycosides are in high demand in the food and beverage industry. The market for steviol glycosides is primarily driven by the high demand for these compounds by the food and beverage industry. These brands are excellent substitutes for various beverages and foods because of their great freshness and taste. Steviol glycosides are permitted to be used in the food and beverage industry as a result of a decision by the European Food Safety Authority (EFSA). The growth of the market is also expected to be driven by the health benefits of steviol glycoside consumption during the forecast period.
Steviol Glycoside Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. The global steviol glycoside market is dominated by growing Steviol Glycoside from the food and beverage industry. The great freshness and flavor of these ingredients makes them an excellent choice for many drinks and meals. The European Food Safety Authority (EFSA) approved the use of steviol glycosides in the food and beverage industry. Furthermore, the health benefits associated with the consumption of steviol glycosides are also anticipated to drive the market growth during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.9 Billion |
| Market size value in 2031 | USD 7.58 Billion |
| Growth Rate | 5.20% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Steviol Glycoside Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Steviol Glycoside Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Steviol Glycoside Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Steviol Glycoside Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Steviol Glycoside Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Steviol Glycoside Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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