Stevia Market Seen Soaring 8.6% Growth to Reach USD 1,235 Million by 2030, Projects UnivDatos Market Insights
- Himanshu Patni
- January 27, 2024
- CONSUMER GOODS, NEWS
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Key Highlights of the Report:
1. Rapid growth: The stevia market has witnessed remarkable growth over the years, driven by increasing consumer demand for natural and healthier alternatives to sugar. One of the key factors contributing to the rapid growth in the stevia market is the rising awareness about the detrimental effects of excessive sugar consumption on health.
2. Rising prevalence of target diseases: The prevalence of diseases such as obesity, diabetes, hypertension, and cancer is increasing globally. Stevia plays a crucial role in the treatment of these conditions by minimizing the sugar available for cells to feed on, possibly hindering their progression or development of relative diseases. The increasing prevalence of these diseases is driving the demand for stevia.
3. Technological advancements: The stevia market has witnessed significant technological advancements in recent years. These advancements include the development of improved cultivars of the Stevia rebaudiana plant to further drive market growth.
4. Increasing adoption in developing regions: The adoption of stevia is increasing in developing regions due to healthier food alternatives, natural substitutes for sugar, and rising awareness about healthcare. This trend is expected to open up new growth opportunities for market players in these regions.
According to a new report by UnivDatos Market Insights, Stevia Market, is expected to reach USD 1235 Million in 2030 by growing at a CAGR of 8.6%. Stevia is a natural, calorie-free sweetener. Its primary purpose is to provide a sugar substitute to reduce intake of added sugars or for individuals with specific dietary needs, such as diabetics or those following a low-calorie diet. Stevia offers a sweet taste without contributing calories or raising blood sugar levels, making it a popular alternative to traditional sugar for those seeking a healthier lifestyle. Additionally, stevia is often used in various food and beverage products to provide sweetness without the negative health effects associated with excessive sugar consumption
The report suggests that the Advantages of Health Concerns is one of the major factors driving the growth of the market during the forthcoming years. One of the key advantages is, it offers natural zero-calorie sweetener, provides a sugar substitute without the negative health impacts, such as obesity, diabetes, and tooth decay, and offers a sugar replacement in food and beverages without affecting blood sugar levels or contributing to excess calorie intake. Another advantage is plant-based stevia, is considered a natural sweetener and aligns with this clean-label trend.
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Recent Technological Advancements:
Over the years, there have been several technological advancements in stevia, aimed at improving their effectiveness, safety, and ease of use. Some of these advancements include:
1. Extraction Methods: Technological advancements have introduced innovative green extraction methods that minimize environmental impact and ensure consumer safety. Techniques such as supercritical fluid extraction and enzymatic hydrolysis have emerged as sustainable alternatives, allowing for cleaner and more efficient extraction of steviol glycosides – the sweet compounds in stevia.
2. Fermentation: Fermentation technology has seen progress in the production of stevia sweeteners. Instead of relying on natural plant source, scientists have successfully developed modified yeast strains capable of producing steviol glycosides through fermentation. This breakthrough enables manufacturers to produce stevia sweeteners through biotechnological means, reducing their reliance on agricultural cultivation and ensuring a consistent and reliable supply of stevia-based products.
3. Encapsulation: Encapsulation technology has helped address the issue of sweetness by encapsulating the stevia molecules within a protective coating. These microencapsulated sweeteners improve taste perception by releasing the stevia compounds only upon consumption, masking any unpleasant aftertaste. This advancement enhances the overall palatability and consumer acceptance of stevia-derived products.
Conclusion
In conclusion, the stevia market is projected to witness substantial growth in the coming years, driven by the rising prevalence of target diseases such as obesity, diabetes, and cancer. The market is expected to be fueled by technological advancements, growing awareness among the consumer industry, and the increasing preference for healthier substitutes. Additionally, the growing geriatric population and the rising demand for healthier options are contributing to the market’s expansion. However, the market is still faced with challenges, including limited consumer awareness, cost challenges, taste and formulation issues in some regions. To overcome these barriers, manufacturers and providers need to focus on strategic collaborations, product innovation, and expanding their distribution networks globally. Overall, the stevia market presents promising opportunities for industry players to capitalize on, ultimately leading to improved consumer outcomes.