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

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.