Allied Market Research

The growth of the stevia market is driven by increase in demand from the beverage sector, rise in concerns over diabetes, obesity, regulatory restrictions on artificial sweeteners, and surge in preference for clean-label, natural sugar substitutes. 

WILMINGTON, Del., Aug. 14, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Stevia Market by Form (Powder Extracts and Liquid Extracts), Application (Bakery & Confectionery, Beverages, Sweeteners and Others), Source (Conventional and Organic), End-Use (Food & Beverages and Pharmaceuticals): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the stevia market was valued at $534.2 million in 2023, and is estimated to reach $876.5 million by 2034, growing at a CAGR of 4.8% from 2024 to 2034.

Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/A06042

Prime determinants of growth 

The growth of the stevia market is primarily increased owing to the rising consumer demand for natural, low-calorie sweeteners due to rising health concerns such as diabetes and obesity is a significant driver. The beverage industry's adoption of stevia as a sugar substitute in response to consumer demand for healthier options contributes to market growth. Regulatory restrictions on certain artificial sweeteners also play a role, as stevia is perceived as a safer alternative. Moreover, the growing preference for clean-label ingredients and the approval of stevia by regulatory bodies further drive market expansion. These factors collectively fuel the growth of the stevia market as it continues to gain traction as a natural and healthier sweetening option across various industries.

Report coverage & details: 

Report Coverage	Details
Forecast Period	2024–2034
Base Year	2023
Market Size in 2023	$534.2 million
Market Size in 2034