Promotion to use stevia in different forms such as powered and dried drives the positive perception
of the food and beverage sector in countries such as Vietnam, Singapore, China, South Korea and
Japan on account of growing acceptance of stevia-based compounds and new product launches.
In addition, the rise in the awareness of consumers towards fitness routine has also caused various
carbonated drink producers which consist of The Coca-Cola Company to announce the stevia based
product in their product line of soft drinks, which also helped them to widen their consumer base.
The approval from the EU Commission and the U.S. FDA which resulted in optimistic regulatory
outlook is presumed to be a crucial factor fueling the growth of stevia market soon. The favorable
atmosphere and consumer awareness concerning the advantages of natural sweeteners have
influenced large-scale production in APAC and Latin America which resulted in an acceptance of
compounds based on stevia in nations such as South Korea, Japan, and Brazil.
Product Insights
In terms of total volume, the beverage was the primary application industry accounting for over 34.8%
in 2015. Increasing demand for juices, carbonated drinks, and low-calorie beverages is anticipated to
cause the expansion of stevia market over the next nine years.
A significant share of 22.2% global volume for tabletop sweeteners was projected as the third major
industry. Artificial sugar is expected to be replaced by stevia-based sweeteners in this sector over the
forecast period to cater consumers with diseases such as diabetes.
Another important segment of the market is pharmaceutical industry. Superior medicinal abilities
such as its capacity to control obesity and blood pressure along with healing of injuries and wounds
are presumed to open new growth opportunities soon.
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Regional Insights
In terms of global volume share, Asia Pacific was the major market which accounted for 35.3%. Stevia-
based sweeteners has been a substantial part of the diet regime of consumers for a significant period
which resulted in the broad acceptance in these countries such as South Korea, China, and Japan.