Global Steviol Glycoside Market, By Type (Steviolbioside, Stevioside, Rebaudioside A, Rebaudioside B), Processing Method (Fermentation based Production, Farming based Production), End-Use Application (Food, Beverage, Medicine, Chemical, Others) – Industry Trends and Forecast to 2030.
Steviol glycoside Market Analysis and Size
The increasing consumption of steviol glycoside in developing markets with regards to products of everyday consumption has given an increase to industries such as food and beverage, FMCG, cosmetics and others which can lead to the surge in demand for steviol glycoside. Steviol Glycosides serves numerous health benefits to the consumers. On a global level, the food and beverage sector is changing, thus positively impacting the steviol glycosides market growth.
Data Bridge Market Research analyses that the steviol glycoside market is expected to reach USD 6848.24 million by 2030, which is USD 4600.00 million in 2022, registering a CAGR of 5.10% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Steviol glycoside Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 - 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Steviolbioside, Stevioside, Rebaudioside A, Rebaudioside B), Processing Method (Fermentation based Production, Farming based Production), End-Use Application (Food, Beverage, Medicine, Chemical, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Cargill, Incorporated (U.S.), PureCircle (U.S.), Tate & Lyle (U.K.), MORITA KAGAKU KOGYO CO. LTD. (Japan), Ingredion. (U.S.), GLG LIFE TECH CORP. (Canada), FUJIFILM Wako Pure Chemical Corporation (Japan), Sweegen (U.S.), DSM (Austria), Layn Corp. (U.S.), ADM (U.S.)
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Market Opportunities
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Market Definition
Steviol glycoside is a chemical compound which is derived from the stevia rabaudiana bertoni leaves. Steviol glycosides is also known by other name such as purified stevia leaf extract, purified stevia extract amongst others. Steviol glycosides have a neutral effect on the diabetes patients. Th ingestion of steviol glycosides is growing due to its feasible nature. This compound is 300 times sweeter than sucrose and does not induce glycemic reaction when consumed, hereafter it is used as a good alternative for sugar.
Steviol glycoside Market Dynamics
Drivers
- Increasing demand of steviol glycoside in food and beverages sector
The global steviol glycoside market sales are majorly driven by the growing demand for steviol glycosides from the food and beverage industry. The high refreshing and sweetness taste of these compounds are making them an excellent choice for numerous beverages and food products. The European Food Safety Authority (EFSA) approved the use of steviol glycoside in the food and beverages sector. Furthermore, the health benefits associated with the consumption of steviol glycoside are also expected to drive the growth rate of the market during the forecast period.
- Rising usage of steviol glycoside in pharmaceutical industry
Steviol glycosides are used as a constituent in an extensive range of pharma products such dietary supplements, as herbal medicines, and functional foods in the pharmaceutical industry. Furthermore, it steviol glycoside has taken orally in large doses then it aids to lower the high blood pressure levels which is one of the major causes of heart attack, stroke, and kidney failure. Therefore, the rising usage of steviol glycoside in the pharmaceutical industry is expected to drive the market's growth rate during the forecast period.
Opportunities
- Increasing demand for artificial sweeteners from food manufacturers
The steviol glycoside market has better performance owing to food manufacturers' increasing demand for artificial sweeteners. It's a safe and secure option for diabetes patients. The growing demands for artificial sweeteners from food manufacturers, such as hot fluidity, yoghurts, fruit and milk based drinks and delicacies in terms of artificial sweeteners will create ample and new opportunities for the growth of the market. This helps in retaining the sweetness of the food products for longer than sugar. Steviol glycoside is extremely in high demand in the global market since the consumer is more tending towards quick and safe intake of food ingredients or chemicals.
Restraints/ Challenges
- Side ffcets associated with usage of steviol glycoside
People who are allergic to steviol glycoside must avoid ingestion of this product. In some cases, steviol can generate a severe allergic response named anaphylaxis. Manifestation of allergic responses are wheezing, general weakness, shortness of breath, hives dizziness, or having swallowing after ingesting steviol glycoside. These are some of the major factors hampering the market's growth.
This steviol glycoside market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the steviol glycoside market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In 2022 - Codex Alimentarius, the international food standard safety authority, undertaken the Framework for Steviol Glycosides, which includes four major technologies. These will now comprise steviol glycosides derived from glucosylated steviol glycosides, bioconversion, stevia leaf extract, and steviol glycosides from fermentation.
- In 2021 - Ingredion has introduced its latest solution that provides sweet taste, under the declaration of natural flavour named PureCircle NSF-13. This latest product has been created to provide sweetness across a wide line of applications such as beverages, bakery, and dairy.
Global Steviol Glycoside Market Scope
The steviol glycoside market is segmented on the basis of type, processing method and end-use application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Steviolbioside
- Stevioside
- Rebaudioside A
- Rebaudioside B
Processing Method
- Fermentation based Production
- Farming based Production
End-Use Application
- Food
- Beverage
- Medicine
- Chemical
- Others
Steviol Glycoside Market Regional Analysis/Insights
The steviol glycoside market is analyzed and market size insights and trends are provided by country, type, processing method and end-use application as referenced above.
The countries covered in the steviol glycoside market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to dominate the steviol glycoside market because of the boosted administration due to huge requirement for artificial sweeteners in this region.
North America in anticipated to be the fastest growing region in steviol glycoside market during the forecast period of 2023-2030 owing to large consumption rate by the U.S. in this particular region. Moreover, steviol glycoside (EDTA) is used considerably in numerous applications, likely boosting the market growth in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Steviol Glycoside Market Share Analysis
The steviol glycoside market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to steviol glycoside market.
Some of the major players operating in the steviol glycoside market are:
- Cargill, Incorporated (U.S.)
- PureCircle (U.S.)
- Tate & Lyle (U.K.)
- MORITA KAGAKU KOGYO CO. LTD. (Japan)
- Ingredion. (U.S.)
- GLG LIFE TECH CORP. (Canada)
- FUJIFILM Wako Pure Chemical Corporation (Japan)
- Sweegen (U.S.)
- DSM (Austria)
- Layn Corp. (U.S.)
- ADM (U.S.)
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