Stevia Market Size, Share, Opportunities, And Trends By Type (Leaves, Liquid Extract, Powder), By Application (Beverages, Bakery And Confectionery, Tabletop Sweeteners, Dairy, Others), By Distribution Channel (Online, Offline), And By Geography - Forecasts From 2024 To 2029

  • Published : Jun 2024
  • Report Code : KSI061611529
  • Pages : 110

The stevia market is expected to grow at a CAGR of 10.85% over the forecast period reaching a total market size of US$1,534.502 million by 2029, increasing from US$746.271 million in 2022.

Stevia, a natural sweetener derived from the Stevia rebaudiana plant, is increasingly gaining prominence across the healthcare and food and beverage industries. This surge in demand is fueled by various factors, including the growing preference among consumers for natural sugar alternatives and the substantial research and development investments made by major corporations.

One of the primary drivers propelling the global stevia market is the rising awareness among consumers regarding the adverse health effects associated with excessive sugar consumption, such as obesity and diabetes. Consequently, there's a mounting demand for healthier sugar substitutes, with stevia emerging as an ideal choice due to its natural origin and zero-calorie nature.

To address this growing demand for healthier options, numerous food and beverage companies are revamping their product formulations to reduce sugar content. Stevia's innate properties enable it to serve as a natural sweetening agent, facilitating the creation of lower-calorie alternatives without compromising taste quality, as observed with some artificial sweeteners. As a result, stevia is gaining traction as a safe and natural sweetening solution, garnering widespread acceptance among both consumers and manufacturers.

Furthermore, advancements in stevia product innovation are enhancing its palatability and cost-effectiveness, thereby expanding its application across a broader spectrum of food and beverage products. However, despite its myriad benefits, the market growth of stevia may face some constraints in the foreseeable future.

The availability of alternative low-calorie sweeteners poses a potential challenge to its market expansion. Additionally, the bitter aftertaste associated with stevia has been a longstanding concern for manufacturers, prompting ongoing efforts to develop solutions that mitigate this bitterness effectively.

In essence, the global stevia market is witnessing robust growth driven by increased consumer preference for natural and healthier sweetening options. As companies continue to invest in research and development to overcome existing challenges and enhance product offerings, stevia is poised to maintain its position as a key player in the evolving landscape of sugar alternatives.

Market Drivers

  • Rising cases of Diabetes cases globally

There has been a noticeable rise in diabetes cases over recent years, leading to elevated sugar levels in the body and an increased risk of conditions like obesity, heart disease, and diabetes among the populace. According to the Centers for Disease Control, over 1 in 3 adults, approximately 98 million Americans, have prediabetes, with 81% of them unaware of their condition. To counteract the risks associated with these diseases, individuals are becoming more health-conscious and gravitating towards low-calorie sugar substitutes, including natural sweeteners like stevia.

  • Adoption in the dairy industry

Today, stevia is considered a valuable ingredient as it reduces sugar use in the dairy industry. Its important benefits include stability and flexibility of use in a wide variety of dairy categories, such as yogurt, flavored milk, and ice cream.

  • Concerns about artificial sweeteners

Concerns surrounding artificial sweeteners have arisen due to their potential health implications. Some artificial sweeteners have been associated with health issues. In May 2023, the World Health Organization (WHO) introduced a new guideline regarding non-sugar sweeteners (NSS), advising against their use for weight management or mitigating the risk of noncommunicable diseases (NCDs).

This recommendation stems from a comprehensive analysis of available evidence indicating that the use of NSS does not yield long-term benefits in reducing body fat among both adults and children. Additionally, the review findings suggest possible adverse effects associated with prolonged NSS consumption, including an elevated risk of type 2 diabetes, cardiovascular diseases, and mortality in adults. In light of these concerns, consumers are increasingly turning to natural alternatives such as stevia.

  • Concerns about artificial sweeteners

There is a growing awareness among individuals about the health risks associated with excessive sugar consumption, particularly about conditions like obesity. In 2022, statistics indicated that globally, one in eight people were grappling with obesity, while a staggering 2.5 billion adults aged 18 and above were classified as overweight, with 890 million among them suffering from obesity.

Stevia's allure lies in its nearly negligible calorie content. For those navigating the challenges of obesity or striving for weight management, the quest to reduce sugar intake is paramount. Stevia emerges as a natural substitute for traditional table sugar, providing a guilt-free option for indulging in sweetness without the accompanying calorie load.

Market Restraint

  • Price fluctuations

The price of stevia leaves is subject to substantial fluctuations influenced by various factors, including weather patterns, crop yields, and trade regulations. Such volatility poses challenges for food and beverage companies in budgeting for stevia procurement, potentially dissuading their adoption of the sweetener.

Stevia market segmentation by type into leaves, liquid extract, and powder

Segmenting the stevia market based on product types yields three primary categories: Stevia Leaves, Liquid Extract, and Powder. Stevia Leaves, renowned for their historical use in herbal medicine, offer versatility as they can be brewed into teas or incorporated as a natural sweetener in cooking.

Liquid Extract, typically packaged in convenient dropper bottles, provides a concentrated form of sweetness, ideal for adding to beverages or recipes.

Meanwhile, Stevia Powder, used for its adaptability, serves a wide array of culinary purposes, including baking, cooking, and enhancing the flavor of beverages.

North America is anticipated to hold a significant share of the stevia market.

The North American market is expected to hold a significant market share owing to the presence of major players, coupled with the growing number of product launches in countries like Canada and the United States.

In addition, a growing number of health-conscious populations coupled with changing lifestyles are the factors boosting the demand for the product, and with the growing demand for food and beverage products made from natural ingredients, the demand for stevia in the region is further expected to increase over the forecast period.

Market Developments

  • March 2023-  Splenda® Stevia Farm announced the official commencement of its fully integrated US-based stevia farm, heralding the establishment of a burgeoning American industry. Located in Central Florida, the farm was fully operational. The farm's agricultural endeavors enabled Splenda to domestically produce the finest-tasting Splenda Stevia products and other Splenda-sweetened foods and beverages.
  • July 2023- HOWTIAN introduced SoPure™ Galaxy, marking a significant leap in the realm of stevia for dairy applications. The Galaxy-Series represented a pioneering range of stevia products tailored to elevate dairy applications, aligning with the escalating consumer preference for healthier and more natural dairy options.

Stevia Market Scope:


Report Metric Details
Market Size Value in 2022 US$746.271 million
Market Size Value in 2029 US$1,534.502 million
Growth Rate CAGR of 10.85% billion from 2022 to 2029
Study Period 2019 to 2029
Historical Data 2019 to 2022
Base Year 2023
Forecast Period 2024 – 2029
Forecast Unit (Value) USD Million
Segments Covered
  • Type
  • Application
  • Distribution Channel
  • Geography
Companies Covered
Regions Covered North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope Free report customization with purchase


Market Segmentation

  • By Type
    • Leaves
    • Liquid Extract
    • Powder
  • By Application
    • Beverages
    • Bakery and Confectionery
    • Tabletop Sweeteners
    • Dairy
    • Others
  • By Distribution Channel
    • Online
    • Offline
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • UK
      • Spain
      • Italy
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Indonesia
      • Taiwan
      • Thailand
      • Others

Frequently Asked Questions (FAQs)

The stevia market is expected to reach a total market size of US$1534.502 million in 2029.
Stevia Market was valued at US$746.271 million in 2022.
The global stevia market is expected to grow at a CAGR of 10.85% during the forecast period.
North America is anticipated to hold a significant share of the stevia market.
Growing demand for natural and low-calorie-based sweeteners is expected to drive the global stevia market growth during the forecast period.


1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits to the Stakeholder


2.1. Research Design

2.2. Research Process


3.1. Key Findings

3.2. Analyst View


4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View


5.1. Introduction

5.2. Leaves

5.2.1. Market opportunities and trends

5.2.2. Growth prospects

5.3. Liquid Extract

5.3.1. Market opportunities and trends

5.3.2. Growth prospects

5.4. Powder

5.4.1. Market opportunities and trends

5.4.2. Growth prospects


6.1. Introduction

6.2. Beverages

6.2.1. Market opportunities and trends

6.2.2. Growth prospects

6.3. Bakery and Confectionery

6.3.1. Market opportunities and trends

6.3.2. Growth prospects

6.4. Tabletop Sweeteners

6.4.1. Market opportunities and trends

6.4.2. Growth prospects

6.5. Dairy

6.5.1. Market opportunities and trends

6.5.2. Growth prospects

6.6. Others

6.6.1. Market opportunities and trends

6.6.2. Growth prospects


7.1. Introduction

7.2. Online

7.2.1. Market opportunities and trends

7.2.2. Growth prospects

7.3. Offline

7.3.1. Market opportunities and trends

7.3.2. Growth prospects


8.1. Introduction

8.2. North America

8.2.1. By Type

8.2.2. By Application

8.2.3. By Distribution Channel

8.2.4. By Country United States Market Trends and Opportunities Growth Prospects Canada Market Trends and Opportunities Growth Prospects Mexico Market Trends and Opportunities Growth Prospects

8.3. South America

8.3.1. By Type

8.3.2. By Application

8.3.3. By Distribution Channel

8.3.4. By Country Brazil Market Trends and Opportunities Growth Prospects Argentina Market Trends and Opportunities Growth Prospects Others Market Trends and Opportunities Growth Prospects

8.4. Europe

8.4.1. By Type

8.4.2. By Application

8.4.3. By Distribution Channel

8.4.4. By Country Germany Market Trends and Opportunities Growth Prospects France Market Trends and Opportunities Growth Prospects UK Market Trends and Opportunities Growth Prospects Spain Market Trends and Opportunities Growth Prospects Italy Market Trends and Opportunities Growth Prospects Others Market Trends and Opportunities Growth Prospects

8.5. Middle East and Africa

8.5.1. By Type

8.5.2. By Application

8.5.3. By Distribution Channel

8.5.4. By Country Saudi Arabia Market Trends and Opportunities Growth Prospects UAE Market Trends and Opportunities Growth Prospects Others Market Trends and Opportunities Growth Prospects

8.6. Asia Pacific

8.6.1. By Type

8.6.2. By Application

8.6.3. By Distribution Channel

8.6.4. By Country China Market Trends and Opportunities Growth Prospects Japan Market Trends and Opportunities Growth Prospects India Market Trends and Opportunities Growth Prospects South Korea Market Trends and Opportunities Growth Prospects Indonesia Market Trends and Opportunities Growth Prospects Taiwan Market Trends and Opportunities Growth Prospects Thailand Market Trends and Opportunities Growth Prospects Others Market Trends and Opportunities Growth Prospects


9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisition, Agreements, and Collaborations

9.4. Competitive Dashboard


10.1. Cargill, Incorporated

10.2. Ingredion Incorporated

10.3. Archer Daniels Midland Company

10.4. In The Raw

10.5. Pyure

10.6. Biosweet Ventures

10.7. Evolva Holding S.A

10.8. Sunwin Stevia International, Inc.

Cargill, Incorporated

Ingredion Incorporated

Archer Daniels Midland Company

In The Raw


Biosweet Ventures

Evolva Holding S.A

Sunwin Stevia International, Inc.