The carbonated beverages and foods are flavoured, artificial coloured, sweetened carbonated and preserved with chemicals. The majorly used ingredients in the carbonated food and drinks are sugar. The rising consumption of the sugar leads to serious illness such as obesity and diabetes amongst the population. Rising health concern amongst the population is increasing the preference towards low calorie sugar based products and organic ingredients in their daily intake. Various types of sugar substitutes are available such as Aspartame which cannot sustain at higher temperature whereas saccharin has certain limitation from Food and Drug Administration (FDA). The stevia extracted sweetener Reb A is generally recognized as safe (GRAS) for their usage in the foods and beverages industry.
Asia-Pacific stevia market is expected to reach at a CAGR of 8.1% in the forecast period of 2019 to 2026.
Market Segmentation: Asia-Pacific Stevia Market
Asia-Pacific stevia market is segmented based on form, application and distribution channel.
- On the basis of form, the market is segmented into powder, whole leaf, liquid and tablets. Powder segment are growing at the highest CAGR of 8.6% in the forecast period of 2019 to 2026.
- NOW Foods (U.S.) offers BetterStevia Extract Powder which is in pure organic with zero-calorie, low glycemic certified organic sweetener substitute for table sugar and artificial sweeteners.
- In October 2017, Ingredion Incorporated (U.S.), announced the launch of VERSASWEET which is low-sugar glucose syrup, introduced in U.S. and Canada. The syrup is designed for the dairy, confectionery, baked good and ice creams to achieve reduced grams of sugar
- On the basis of application, the market is segmented into Industrial and domestic. The Industrial segment is further sub segmented into bakery & confectionery, dairy food products, convenience foods, beverages and others. The domestic segment is further sub segmented into dietary supplements and tabletop sweeteners. Industrial segment is growing at the highest CAGR of 8.4% in the forecast period of 2019 to 2026.
- In February 2018, GLG Life Tech Corporation and Archer Daniels Midland Company (U.S.) introduced their product high Reb M Dream Sweetener Stevia Leaf with the high Reb M. The product provides the clean and smooth sweetness in food and beverages products.
- On the basis of distribution channel, the market is segmented into direct tenders and retail. The retail segment is further sub-segmented into wholesaler/suppliers, supermarket/hypermarket, grocery stores and online retail. Direct tenders segment is growing at the highest CAGR of 8.7% in the forecast period of 2019 to 2026.
- In July 2017, PureCircle (Malaysia) unveiled the new stevia leaf-based flavor enhancers which ensure food and beverages companies to produce product and cost effective price in vanilla and cocoa flavors.
Competitive Analysis: Asia-Pacific Stevia Market
Some of the major players operating in this market are Cargill, Incorporated, Ingredion Incorporated, Tate & Lyle, PureCircle, Archer Daniels Midland Company, BIOSWEET VENTURES, GLG LIFE TECH CORP., Hunan huacheng Biotech,Inc., HYET Sweet, Morita Kagaku Kogyo Co., Ltd., Pyure, S&W Seed Co., Stevita, Sunwin Stevia International, Inc., Whole Earth Sweetener Co., LLC, ZHUCHENG HAOTIAN PHARM CO. LTD among others.
- In October 2016, Morita Kagaku (Japan) has launched a low calorie stevia product with the brand name of Morita RA-AD. This product launch will help in the expansion of Morita Kagaku’s product line.
- In August 2014, Morita Kagaku received a patent for Rebaudioside M and other new steviol glycosides. This will make a footprint of Morita Kagaku in the stevia market.
- In October 2017, Ingredion Incorporated (U.S.), announced the launch of VERSASWEET which is a low-sugar glucose syrup, introduced in U.S. and Canada. The syrup is designed for the dairy, confectionery, baked good and ice creams to achieve reduced grams of sugar.
- In March 2018, Cargill, Incorporated. (U.S.) announced the production of EverSweet which is a zero-calorie made up of two sweet compounds extracted from the stevia leaf Reb M and Reb D. The product is available for the food and beverages industry to provide healthier food with zero-calorie sweetener with great taste The new product have set a benchmark in providing great taste, zero calorie with the best ingredient of stevia Reb M and Reb D.
- In September 2018, GLG Life Tech Corp. (Canada) and Archer Daniels Midland Company (U.S.) launched Reb M Dream Sweetener in collaboration. The sweeteners are made from GLG Life Tech’s proprietary high Reb M Dream Sweetener stevia leaf, which has high quantities of Reb M steviol glycosides that have a sugar-like taste. The product helps costumer with greater calorie, improved taste and added sugar reduction with the clean label solutions in the food and beverages.
- In September 2017, PureCircle (Malaysia) announced the launch of Sigma-Xcelerator(SM) product development tool. The tool provides the company to produce stevia ingredient combinations and maximizes the product taste and helps in meeting the customer’s requirements in terms of low sugar, cost and solubility.
- In March 2018, Wisdom of the Ancients. (U.S.) announced the launch of six herbal beverage blends. The six herbal beverages blends are organic, unsweetened tea made from yerba maté leaves. The herbal blends are formulated with the stevia as a sweetening agent and with exotic flavor. Growing healthy diets and demand of the herbal tea and beverages leads the company to shift towards the stevia sweeteners and their products.
- In June 2017, Zyduswellness (India) announced the launch of Sugar Free Green which are available in pallets and powder form and can be used in the beverages and desserts for adults and kids. The launch of the tablets and powder with the stevia ingredients and demand of sugar free foods and beverages leads the growth of stevia in the upcoming year.
Research Methodology: Asia-Pacific Stevia Market
Key Opinion Leaders (KOL’s): Manufacturer, Healthcare Professionals, Industrialist, Distributors.
Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers