Steviol Glycoside Market | Research Insights, Business Outlook, Company Profiles, Trends and Forecast 2018-2023

05/dic/2018 07:26:27 Market Research Future Contatta l'autore

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The Global Steviol Glycoside Market is expecting to touch a valuation of USD 835.7 million by 2023, according to Market Research Future (MRFR).  The demand for natural sweeteners and the growing health consciousness among consumers is predicted to drive market demand from 2018 to 2023 (forecast period). Increase in the numbers of diabetes and obesity cases will induce the demand for Steviol Glycosides, chemical compounds used in the manufacture of stevia.

Launch of new stevia-based products and its continuous usage in ready-to-drink beverages such as tea and coffee are forecasted to balloon the market volume to expand at an 8.23% CAGR over the forecast period. Lack of awareness of such products can hamper market growth. But development of new stevia formulations using different glycosides to provide new tastes is expected to open up new growth opportunities for the players.

Competitive Dashboard:

Key players in the Steviol Glycoside Market include Tate & Lyle (U.K.), Sunwin Stevia International, Inc. (China), Ingredion, Inc. (U.S.), GLG Lifetech Corporation (Canada), Morita Kagaku Kogyo (Japan), Sunrise Nutrachem Group (China), PureCircle Ltd. (Malaysia), Cargill, Inc. (U.S.), GL Stevia (China), and Zhucheng Haotian Pharm Co. Ltd. (China).

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The Steviol Glycoside Market can be segmented by Type and End-User.

By Type, the Steviol Glycoside Market is segmented into stevioside, rebaudioside A, rebaudioside C, dulcoside A, and others. The Stevioside segment accounted for 65.8% share in 2017 with a valuation of USD 325.1 million in 2017. It is predicted to touch USD 552.9 million by 2023 by exhibiting a 9.25% CAGR over the forecast period. The rebaudioside a segment accounted for 24.2% market share in 2017. The high intensity of sweetness associated with the glycoside is expected to hike its valuation to USD 202.8 million by 2023.

Major End-Users include foods, beverages, chemicals, medicine, and others. Among these, beverages accounted for more than 50% share of the Steviol Glycoside Market in 2017. It can touch USD 428.1 million by the end of the forecast period owing to its high usage in teas, coffees, soft drinks, and alcoholic beverages.

Regional Analysis:

The Steviol Glycoside Market covers the latest trends and opportunities across North America, Latin America (LATAM), Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

The APAC region is expected to grow robustly during the forecast period to reach USD 318.5 million by 2023. Investments by beverage manufacturing companies such as Coca-Cola is likely to induce the demand for Steviol Glycoside. Consumer awareness regarding the benefits of stevia and a high pool of patients with diabetes can propel the market growth.

The North America Steviol Glycoside Market is the second-largest after APAC owing to high prevalence of diabetes in the regions of Canada and the U.S. It is projected to showcase a 9.29% CAGR over the forecast period to reach a valuation of USD 227.6 million by 2023.

The European region is projected to exhibit a remarkable 8.70% CAGR during the assessment period with Germany and Russia being the topmost contributors to the regional Steviol Glycoside Market.

On the other side, the LATAM and MEA markets are forecasted to exhibit 8.37% and 8.28% CAGRs respectively.

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