Global Stevia Market Is Estimated To Register A Strong CAGR By 2021: Radiant Insights, Inc.

According to a report available on Radiant Insights, Inc., the worldwide stevia market is estimated to register a strong CAGR by 2021. Rising consumer awareness regarding low calorie food and growing requirement of sugar substitute products can drive the market during the forecast period (2017 to 2021). Additionally, rising demand for natural ingredient products is a major driving factor for the market.

Stevia is a low-calorie as well high-protein ingredient and comprises antioxidant properties. It provides major advantages such as sugar preplacement, flavor enhancement, color, and texture. Therefore, it is used in variety of applications as a food ingredient, including dairy, bakery, beverages, confectionery, dietary food supplements, snacks, and packed food products.

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Increasing governments initiatives and introductions of several stevia products can have a positive impact on the market. Continued consumption of artificial sweeteners may cause several health disorders including cardiovascular diseases, metabolic syndrome, and hypertension. Therefore, growing awareness of adverse effects of artificial sweeteners may result in increased demand for natural ingredients like stevia.

Improving the taste of stevia is a major aspect for researchers. Companies are constantly inventing and experimenting with unique combinations of stevia to accomplish a taste that is like sugar to attract more consumers.

However, various regulatory constraints associated with stevia can restrain market growth to an extent. Additionally, availability of other low-calorie sweeteners can hamper the demand of the product.

The worldwide stevia market can be segmented based on extract type into whole leaf, powdered, and liquid. Based on application, the market can be fragmented into dairy, bakery and confectionery, table top sweeteners, beverages, convenience foods, and others.

Geographically, the worldwide stevia market can be fragmented into the Americas, Asia Pacific (APAC), and Europe, Middle East, and Africa (EMEA). North America represents the leading market, followed by Asia Pacific. North America is also anticipated to register the highest CAGR during the forecast period. The EMEA market is projected to show considerable growth due to improving modern retail infrastructure and increasing disposable income.

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Asia Pacific is estimated to display rapid growth over the coming years. This growth is associated with increasing working population and growing GDP in emerging countries such as China and India. Factors such as growing urbanization, improving eating habits of consumers, changing consumption patterns, and rising awareness regarding stevia products are responsible for further growth. Availability of skilled resources and low production cost are also factors driving growth in the Asia Pacific market.

Major companies operating in the market include Cargill, Merisant Company, GLG Leading Life Technologies, SweetLeaf, and PureCircle.

Growing demand for low-calorie beverages such as juices, sports drinks, and energy drinks is driving vendors to make healthier products. This has led to a rise in competition in the market. Companies are competing based on quality, price, diversity of products, promotional activities, and distribution.

About Radiant Insights 
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.

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