Stevia's market expansion is being driven by rising demand for low-calorie food items. This is due to the rising incidence of obesity and other health problems. Stevia's market development is predicted to be aided by rising demand for natural plant-based sweeteners. Stevia's increasing use in beverages and packaged foods is likely to drive market development. Product demand is being hampered by stringent norms and regulations governing the use of stevia as a culinary additive. This is owing to the drug's adverse effects. This is due to the negative effects of stevia use, which include digestive issues and allergic responses. This aspect is anticipated to stifle market expansion. Lack of understanding and a harsh aftertaste limit the product's appeal in candy, snacking, and dairy products, resulting in poor usage throughout emerging markets. This aspect is impeding the expansion of the stevia market.
According to Coherent Market Insights, the global Stevia Market is estimated to surpass US$ 998.6 million by the end of 2027 in terms of revenue, exhibiting a CAGR of 8.5% during the forecast period (2020 to 2027).
Leading Companies in the Stevia Industry:
1. Nestlé S.A.
Nestlé S.A., together with its subsidiaries, operates as a food and beverage company. The company operates through Zone Europe, Middle East and North Africa; Zone Americas; and Zone Asia, Oceania and sub-Saharan Africa segments. The company was founded in 1866 and is headquartered in Vevey, Switzerland.
2 The Coca-Cola Company
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plantbased beverages; tea and coffee; and energy drinks. The company was founded in 1886 and is headquartered in Atlanta, Georgia.
3. PepsiCo Inc.
PepsiCo, Inc. manufactures, markets, distributes, and sells various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region. The company was founded in 1898 and is based in Purchase, New York.
4. Cargill Inc.
Cargill is an international producer and marketer of food, agricultural, financial, and industrial products, and services. Founded in 1865. Headquartered in Minnesota U.S. MAR 2022: Cargill announced its strategy of sweetening its stevia products with the commercial availability of its flagship stevia sweetener technology, EverSweet + ClearFlo. The company's sweeteners can now be blended with other all-natural tastes. This mixture can provide flavor alteration, better solubility, formulation stability, and quicker dissolving. May 2022 - Cargill's House of Chocolate provides a collaborative, end-to-end customer experience as customers' needs for creativity, innovation, and speed-to-market rise in today's dynamic chocolate market.
5.Evolva Holding S.A.
Evolva Holding SA discovers, researches, develops, and commercializes nature-based ingredients for use in flavor and fragrances, health ingredients, health protection, and other sectors in Switzerland, the United States, and internationally. The company was founded in 2004 and is headquartered in Reinach, Switzerland.
6. PureCircle Ltd.
As the world’s leading producer of high purity stevia ingredients, company aim to leverage this small leaf’s huge influence on the world. It is passionate for reducing calories with a naturally sweet option that doesn’t compromise on taste is complemented by our desire to have a positive impact on the planet. It was founded in 2001, headquartered in Malaysia.
7. Stevia Corp.
Stevia Corp., a farm management and healthcare company, focuses on developing plant breeding and agricultural methodologies. The company invests in the research and development, and IP acquisition, as well as manages propagation, nursery, and plantations Stevia Corp. was incorporated in 2007 and is based in Indianapolis, Indiana.
8. Ingredion Inc.
Ingredion Incorporated, together with its subsidiaries, produces and sells starches and sweeteners for various industries. It operates through four segments: North America; South America; Asia-Pacific; and Europe, Middle East and Africa. Ingredion Incorporated was founded in 1906 and is headquartered in Westchester, Illinois.
9. GLG Life Tech Corp.
GLG Life Tech Corporation engages in the research, development, growing, refining, and production of natural sweeteners extracted from the stevia plant and monk fruit worldwide. The company also offers P-Pro Plus, a pea protein product; and natural ingredients. GLG Life Tech Corporation was incorporated in 1998 and is headquartered in Richmond, Canada.
10. Tate & Lyle Plc.
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. Tate & Lyle PLC was incorporated in 1903 and is headquartered in London, the United Kingdom.
*Definition- Stevia is also known as Stevia rebaudiana. Rebaudioside A (Reb-A), a highly refined stevia leaf extract, is used to make stevia products. Stevia is a natural sweetener that is commonly utilised in the creation of a variety of culinary products.
