Global Stevia Market Passes $350 Million
Stevia has enjoyed rapid global growth in recent years, taking its overall market value past US$350 million in 2015, according to a new report by leading food and drink consultancy Zenith International.
“Greater public concern about obesity means that consumers are showing more interest in intense sweeteners. As a result, product reformulations to replace calories are steadily increasing,” commented Zenith Market Analyst Dr Nouf Jeynes.
“Stevia has now gained widespread regulatory approval, but still has a number of challenges to overcome. In particular, some consumers question the naturalness of sweeteners as part of a drive towards healthy lifestyles. Manufacturers are focusing on developing products that maintain the benefits of a natural zerocalorie sweetener without the downside of any aftertaste,” she continued.
“China is the main exporter of stevia accounting for more than 45% of volume in 2015. Competition is expected to intensify as a result of expanding stevia cultivation regions and advancing fermentation technology,” she concluded.
Originating from Paraguay, where the stevia leaf has been valued for centuries, stevia has been used as a sweetener in Japan and parts of South America for decades. The high-intensity sweetener offers a sweetening power some 300 times that of table sugar, without adding any calories. For this reason, stevia is increasingly being used as an ingredient in finished products – in particular, soft drinks – with a significant increase in the number of stevia-based products launched in 2015.
The 2016 Zenith Report on the Global Stevia Market contains over 110 pages of market commentary, charts and tables together with company profiles. New to 2016, the report includes analysis of health initiatives by food and drink manufacturers and analysis of emerging alternative natural sweeteners. Contact Zenith International on +44 (0)1225327900 or e-mail firstname.lastname@example.org.
Source: 2016 Zenith Global Stevia Market Report
Press Release: 21st September 2016