20/11/2018 – News / Food Processing / Stevia / Monk Fruit / Sweetener / Health / Environment
Stevia market to register almost 8% CAGR up to 2022
The stevia market will register a CAGR of almost eight per cent up to 2022, according to a new report released by ResearchAndMarkets.com, driven by health and environmental benefits, alongside product variations.
The growing demand for flavoured and organic stevia is identified as one of the key trends that will gain traction in the market for the next four years. Many vendors such as SweetLeaf Stevia and Nirvana Health Products are offering liquid stevia in different flavours such as coconut, chocolate, vanilla, peach, banana, butterscotch, mint, mango, strawberry, caramel, and others.
Stevia’s health benefits and environmental advantages are an important opportunity for players in the segment to leverage upon. Consumers suffering from diabetes or those on carbohydrate-controlled diet, are considering the consumption of stevia as an ideal replacement for normal sugar. With the rising number of diabetic patients and health awareness, the demand for stevia is also increasing.
However, the new report also highlighted that increasing demand for monk fruit zero-calorie sweetener presents a challenge to the stevia market. Since monk fruit zero calorie-sweetener does not have a bitter aftertaste, many manufacturers of food and beverage are choosing such sweeteners over stevia.
Beyond that, the report observes that the stevia market appears to be fragmented – and with the presence of several companies including Cargill and PureCircle, the competitive environment is quite intense.
Cargill, GLG LIFE TECH, MacAndrews & Forbes, PureCircle, Tate & Lyle, and Wisdom Natural Brands are some of the major companies covered in the new report, the details of which can be found here: For more information about this report visit https://www.researchandmarkets.com/research/zmn9bw/global_stevia?w=5
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