Stevia is a naturally sweet-tasting plant instinctive to Paraguay and Brazil but is also full-grown in Japan and China. This plant is utilized as a non-nutritive sweetener and herbal supplement which entails little or no calories. It is a healthful alternative to added sugar in several meals and beverages.
According to the report analysis, ‘Stevia Market: Current Analysis and Forecast (2021-2027)’ states that the number of individuals overweight or obese has reached epidemic proportions propelling the increasing rates of non-communicable diseases, comprising at least ten cancers. Excessive sugar consumption is one aspect promoting overweight and obesity due to the broad availability of sugar. Over the last decade, global sugar consumption has grown from approximately 130 to 178 million tonnes. Therefore, there is an increment in the number of individuals inclining towards natural sugar substitutes as they are sweeter than sugar and have fewer calories which in turn is influencing the growth of the stevia market.
An unhealthy lifestyle has become a foremost part of life as people’s lifestyles have transformed as a result of advances in technology and augmented disposable income. The increasing public awareness of healthier food alternatives, specifically among obese and diabetic individuals, has propelled the worldwide Stevia Market’s growth. Moreover, it is a zero-calorie sweetener and does not have any damaging effects on the human body which bring in favourable growth illustrations for the Stevia Market during the predicted period.
Furthermore, the aspects such as government schemes, and increasing innovations taking place in the applications are estimated to aid the market growth. However, the price volatility of the stevia leaf is a foremost impediment to the growth of the stevia industry. Not only has this, Stevia leaf availability is affected by seasonal vacillations and crop yield. The deduction in stevia cultivation is estimated to have an impact on the growing requirement for stevia, resulting in a supply shortage and higher prices throughout the forecast duration.
In addition, the proficient growth in availability of stevia across the globe is also propelling the stevia market. Stevia based products are progressively available in modern retail outlets thus promoting the stevia market. The foremost augment in consciousness among individuals about assistances of low-calorie sweetener is also stoking requirement for stevia.
Nevertheless, R&D initiatives for new variants of stevia, new applications of stevia for zero-calorie products, and to improve the flavor of products are probable to aid the growth of stevia market during the future. The proficient growth in use of stevia in the pharmaceutical industry is also serving to boost the stevia market. Moreover, motivating government initiatives and increasing customer awareness is auguring positive signs for the growth of worldwide stevia market.
Besides, the growing number of product launches and modernizations in the food and beverage industry, combined with the requirement to serve the demand for sugar alternatives from consumers suffering from diabetes and obesity, are the foremost factors accredited to the market’s growth opportunity. Therefore, it is predicted that during the review duration the market of stevia will increase around the globe more actively over the near future.
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