Stevia Market Summary

The global stevia market size was valued at USD 513.4 million in 2023 and is projected to reach USD 1.12 billion by 2030, growing at a CAGR of 11.9% from 2024 to 2030. The market growth is primarily driven by the rising demand for healthy food choices and the increasing health consciousness among consumers worldwide. As awareness regarding the adverse effects of excessive sugar consumption grows, consumers are shifting toward natural, low-calorie alternatives, making stevia an appealing option. Furthermore, the increasing prevalence of diabetes and obesity has encouraged people to adopt healthier lifestyles and reduce sugar intake, further accelerating the demand for stevia-based products.

Stevia, being a natural plant-derived sweetener, serves as an ideal substitute for artificial sweeteners such as aspartame, saccharin, and sucralose. It offers the advantage of being calorie-free and does not cause spikes in blood glucose levels, making it suitable for diabetics and calorie-conscious consumers. The growing preference for clean-label, plant-based ingredients has further strengthened stevia’s position in the global market. Food and beverage manufacturers are increasingly incorporating stevia into their products, including carbonated drinks, bakery items, dairy products, and confectioneries, to cater to the rising demand for healthier alternatives without compromising taste.

The trend toward natural and organic ingredients is reshaping product formulations across the food and beverage industry. Manufacturers are reformulating their products to reduce sugar content while maintaining desirable sweetness levels, leveraging stevia as a key functional ingredient. Additionally, technological advancements in stevia extraction and processing have enhanced its taste profile, reducing bitterness and improving consumer acceptance. Major companies are also investing in product innovation and marketing campaigns to increase awareness of stevia’s health benefits, driving its adoption among both consumers and manufacturers.

Key Market Trends & Insights

• Asia Pacific stevia market dominated the global industry with a revenue share of 48.8% in 2023, driven by the increasing adoption of natural sweeteners in countries such as China, Japan, and India. The rising demand for healthier beverages and sugar substitutes in this region, coupled with expanding food and beverage industries, is contributing significantly to market growth.
• By application, the beverage segment accounted for the largest market revenue share of 36.8% in 2023, as stevia is widely used in the production of low-calorie drinks, flavored water, and functional beverages.
• Meanwhile, the food segment is expected to grow significantly at a CAGR of 12.2% during the forecast period due to increasing use in confectionery, baked goods, and dairy applications.

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Market Size & Forecast

• 2023 Market Size: USD 513.4 Million
• 2030 Projected Market Size: USD 1.12 Billion
• CAGR (2024-2030): 11.9%
• Asia Pacific: Largest market in 2023

Key Companies & Market Share Insights

Some of the key companies in the stevia market include Ingredion; Tate & Lyle; Archer Daniels Midland Company; and others. Key players are leveraging strategic initiatives such as mergers, acquisitions, and partnerships to expand their customer base and gain market advantage.

• Ingredion partners with customers to develop innovative, consumer-preferred products that offer exceptional eating experiences and on-trend benefits, while leveraging sustainable practices and regenerative agriculture to drive industry-leading sustainability results.
• HOWTIAN is a supplier of high-quality plant-based ingredients and natural sweeteners, serving over 80 countries across industries, with a focus on Pyrroloquinoline Quinone and Baicalin root extracts, and offering vertically integrated agriculture and large-scale manufacturing capabilities.

Key Players

• Ingredion
• Tate & Lyle
• Archer Daniels Midland Company
• Cargill, Incorporated.
• HOWTIAN
• Evolva Holding SA
• GLG Life Tech Corp.
• Stevia First Corporation

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Conclusion

The global stevia market is poised for robust growth, driven by increasing health awareness, rising demand for natural sugar substitutes, and the ongoing shift toward clean-label and low-calorie products. With its natural origin, zero-calorie content, and compatibility with various food and beverage applications, stevia continues to gain traction among consumers and manufacturers alike. The growing prevalence of lifestyle-related disorders such as diabetes and obesity further strengthens its market potential. As technological advancements improve product quality and taste, and as consumers increasingly favor sustainable, plant-based ingredients, stevia is expected to become a key component in the global transition toward healthier and more natural sweetening solutions.