Global Steviol Glycoside Market

Steviol Glycoside Market Size, Share, Growth Analysis, By Type(Stevioside, Glucoside A), By Processing Method(Electrical & Electronics, Construction), By End-Use(Food, Beverage) - Industry Forecast 2024-2031

Report ID: SQMIG15A2416 | Region: Global | Published Date: April, 2024
Pages: 187 | Tables: 97 | Figures: 69

Steviol Glycoside Market Regional Insights

The North America region dominated the global market, owing to the rapid emergence of apple habit and increasing health-conscious consumer choice of products with powerful ingredients such as steviol glycosides, and FDA for product delivery used in a variety of areas. With widespread approval, including pharmaceuticals, pharmaceuticals and food and beverages. Furthermore, there is likely to be increased production of beverages in the region and a focus among major beverage manufacturers to include such flavor enhancers in their product offerings to enhance their taste and quality improve will feed regional market growth.

Asia Pacific is expected to emerge as the fastest growing region with a robust CAGR during the forecast period, driven by changes in consumer preferences for food and beverages and additives. This increase in traditions to reduce the amount of sugar and improve quality is projected to help draw significant revenues from emerging nations such as India and China, thereby helping the overall region register fastest growth rate during the forecast period.

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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 competitive environment of the Steviol Glycoside Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Established organizations within the industry leverage techniques inclusive of product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Additionally, the market is witnessing elevated opposition from local and neighborhood producers supplying cost-powerful options. 'Cargill Incorporated', 'Evolva', 'GLG Life Tech Corporation', 'Ingredion Incorporated', 'Kerry Inc.', 'Koninklijke DSM N.V.', 'Layn Corporation', 'Morita Kagaku Kogyo Co. Ltd.', 'Stevia Extraction Technology', 'Sunrise Nutrachem Group', 'Sunwin Stevia International Inc.', 'Tate & Lyle', 'Zhucheng HaoTian Pharma Co. Ltd.'

The steviol glycosides market is performing well due to increased demand from food manufacturers for artificial sweeteners. This is a safe and secure option for diabetics. Growing demand by food manufacturers for confectionery products such as sparkling juices, yogurt, fruit and dairy beverages, and flavoring on confectionery products provides more and new opportunities for market growth. This helps foods taste better longer than sugar. Steviol glycosides are in high demand in the market as the consumer is more interested in consuming food ingredients or medicines quickly and safely.

Rising Widespread Use in Pharmaceutical Industry: The steviol glycoside market CAGR is driven by sectors such as food beverages, FMCG, cosmetics, etc. The growing market for dairy products has increased due to the high consumption of steviol glycoside. This may increase the demand for steviol glycosides. Steviol Glycosides provide users with various health benefits. The food and beverage industry are growing, which contributes to the growth of the steviol glycosides market. Steviol glycosides are in high demand in the food and beverage industry. The market for steviol glycosides is primarily driven by the high demand for these compounds by the food and beverage industry. These brands are excellent substitutes for various beverages and foods because of their great freshness and taste. Steviol glycosides are permitted to be used in the food and beverage industry as a result of a decision by the European Food Safety Authority (EFSA). The growth of the market is also expected to be driven by the health benefits of steviol glycoside consumption during the forecast period.

The North America region dominated the market, owing to the rapid emergence of apple habit and increasing health-conscious consumer choice of products with powerful ingredients such as steviol glycosides, and FDA for product delivery used in a variety of areas. With widespread approval, including pharmaceuticals, pharmaceuticals and food and beverages. Furthermore, there is likely to be increased production of beverages in the region and a focus among major beverage manufacturers to include such flavor enhancers in their product offerings to enhance their taste and quality improve will feed regional market growth.

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Global Steviol Glycoside Market

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