According to a new market report published by Credence Research “Food & Beverage Stevia Market – Growth, Future Prospects, Competitive Analysis, and Forecast 2016 – 2023,” the food & beverage stevia market has been estimated to be valued at US$ 145.5 Mn by the end of 2016, and is expected to reach US$ 251.4 Mn by 2023, expanding at a CAGR of 8.1% from 2016 to 2023.
Browse the full Food & Beverage Stevia Market by Extract Type, and Geography – Growth, Future Prospects, Competitive Analysis, and Forecast 2016 – 2023 report at http://www.credenceresearch.com/report/food-and-beverage-stevia-market
Stevia is basically a sweetener as well as substitute of sugar which is extract from the leaves of stevia plant. It holds an important place under sweetener segment due to its varied advantages such as significant protein ingredient and low calorie. The increasing awareness about health advantages related to stevia has led to extensive utilization of stevia in food and beverages sector. The most active and major compounds available in stevia are known as rebaudioside A and stevioside which are highly responsible for its sweetness. Stevia has been utilized in various countries of Latin America such as Brazil and others. It is a 100% natural and zero-calorie sweetener which is 200 times sweeter than sugar and is utilized for health related problems. Apart from this, it is highly suitable for diabetic patients as well due to its low glycemix index as it does not impact the blood sugar levels. Rising disposable income and changing lifestyle in developing countries as well as maintaining a proper health is anticipated to expand the growth of global food and beverage stevia market till 2023.
Increasing consumption of low calorie sugars due to rising health consciousness is anticipated to foster the growth of food and beverage stevia market over the forecast period. Apart from this, favorable government regulations all across the globe is further expected to spur the growth of overall food and beverage stevia market during the period 2016-2026. Escalating in demand for natural ingredient products and as well as antioxidants is likely to intensify the growth of global food & beverage stevia market during the period 2016-2023.
Food & Beverage Stevia market is segmented on the basis of extract type such as liquid extract, powder extract and leaf extract. In 2015, powder extract segment contributed the highest revenue share in the total food & beverage stevia market. Powder segment is further sub-divided on the basis of glycosides, stevia blends ad sweet glycosides. On the other liquid extract is also bifurcated by dark liquid and clear liquid extract. The liquid extract is anticipated to expand at a robust CAGR over the forecast period. This is due to expected increase in consumption of liquid stevia as well as rising usage as table top sweetener. In food and beverages sector, stevia is majorly utilized in desserts, confectionery, fortified foods and beverages, jellies and snack food. The utilization of stevia has showcased an inclination in these products over the past few years as it brings sweetness to the products with very miniscule calories.
- Product visibility in modern retail formats
- Demand for low calorie beverages