Steviol Glycoside Market Share

Global Steviol Glycoside Market Overview

Steviol Glycoside Market Size was valued at USD 5.05 Billion in 2023. The steviol glycoside industry is projected to grow from USD 5.31 Billion in 2024 to USD 7.57 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.53% during the forecast period (2024 - 2032). Becoming more and more used in the pharmaceutical industry and rising food producers' demand for artificial sweeteners are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Steviol Glycoside Market Trends

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  Becoming more used in the pharmaceutical industry is driving market growth.

  
  

Market CAGR for steviol glycoside is driven by the industry sectors like food and beverage, FMCG, cosmetics, and others have grown due to the rising use of steviol glycoside in developing markets for dairy products. This can contribute to an increase in steviol glycoside demand. Steviol Glycosides offer consumers a variety of health advantages. The food and beverage industry is evolving ly, helping the market for steviol glycosides grow. Steviol glycoside is in greater demand in the food and beverage industry. Sales of steviol glycosides are primarily driven by the food and beverage industry's rising demand for these compounds. These compounds make excellent choices for various beverages and food products due to their high refreshing and sweet tastes. Steviol glycoside is permitted in the food and beverage industry thanks to a decision by the European Food Safety Authority (EFSA). The market’s growth rate is also anticipated to be driven by the health advantages of steviol glycoside consumption during the forecast period.

Steviol glycosides are a component in a wide range of pharmaceutical products, including functional foods, herbal medicines, and dietary supplements. Additionally, when steviol glycoside is taken orally in high doses, it helps to lower blood pressure, one of the main causes of heart attacks, strokes, and kidney failure. Therefore, the increasing use of steviol glycoside in the pharmaceutical industry is anticipated to propel the market's growth rate over the forecast period.

Due to the rising demand for artificial sweeteners from food manufacturers, the steviol glycoside market is performing better. Diabetes patients have a safe and secure option. The market will see plenty of new opportunities due to food manufacturers' increasing demand for artificial sweeteners. These manufacturers make hot fluidity, yogurts, fruit- and milk-based drinks, and delectables. This aids in keeping the food products' sweetness longer than sugar. Since consumers prefer to consume food ingredients or chemicals quickly and safely, steviol glycoside is in extremely high demand on the market. Thus, driving the steviol glycoside market revenue.

Heartland Food Products Group said Splenda Stevia Farm was opened by Splenda – the maker of low-calorie sweeteners –in March 2023 together with its parent company, thus aiming at manufacturing high-quality stevia sweeteners while reducing environmental impact by eliminating unnecessary CO2 emissions due to global stevia supply chain operations. Additionally, companies are extensively investing in R&D activities to create better-tasting stevia extracts that mitigate the bitter aftertaste traditionally associated with stevia. This situation has increased revenues for the market players involved thereby increasing revenue growth for the overall category of steviol glycosides substitutes market.

Steviol Glycoside Market Segment Insights

Steviol Glycoside Type Insights

The steviol glycoside market segmentation, based on type, includes stevioside, glucoside A, and others. The stevioside segment dominated the market; Stevioside is frequently used as a sugar substitute in weight-loss diets because of its low-calorie count. Thanks to it, people can indulge in sweet flavors without significantly increasing their calorie intake. This may be advantageous for people trying to cut back on their sugar intake and keep a healthy weight.

Steviol Glycoside End Users Insights

Based on end users, the steviol glycoside market segmentation includes food, beverage, and others. The food category generated the most income. Regarding artificial sweeteners, food manufacturers' increasing demands for hot fluidity, yogurts, fruit- and milk-based drinks and delicacies will open up many new opportunities for the market's expansion. This aids in preserving the food products' sweetness for a longer period of time than sugar.

July 2023, Tate & Lyle, which allows you to specialize in ingredient solutions for healthier food and beverages introduced TASTEVA SOL stevia sweetener along with other functionalities as well as processing benefits. Besides this, advances in purification and extraction technologies have led to high-purity stevia products that are more palatable.

Figure 1:  Steviol Glycoside Market by End-User, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Steviol Glycoside Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American steviol glycoside market will dominate this market because of the increased administration due to the region's high demand for artificial sweeteners.  Steviol glycoside (EDTA) is widely used in various applications, fueling this market’s expansion.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2:  STEVIOL GLYCOSIDE MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s steviol glycoside market accounts for the second-largest market share. The market for Steviol Glycoside is expanding ly due to rising initiatives from governments and healthcare facilities worldwide that support a healthy lifestyle.

 Further, the German steviol glycoside market held the largest market share, and the UK was the fastest-growing market in the European region.

The Asia-Pacific Steviol Glycoside Market is expected to grow at the fastest CAGR from 2023 to 2032. The market in the region has been dominated by the rising demand for artificial sweeteners, particularly in yogurts, fruit-based drinks, hot beverages, milk-based beverages, and other delicacies. Moreover, China’s steviol glycoside market held the largest market share, and the Indian steviol glycoside market was the fastest-growing market in the Asia-Pacific region.

Steviol Glycoside Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the steviol glycoside market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the steviol glycoside industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the steviol glycoside industry to benefit clients and increase the market sector. The steviol glycoside industry has offered some of the most significant advantages in recent years. Major players in the steviol glycoside market, including Cargill Incorporated, Sunrise Nutrachem Group, Tate & Lyle, Ingredion Incorporated, Sunwin Stevia International Inc., Kerry Inc., FUJIFILM Wako Pure Chemical Corporation, Evolva, Koninklijke DSM N.V., Archer Daniels Midland Company, PureCircle, GL Stevia, Morita Kagaku Kogyo Co. Ltd., GLG Life Tech Corp., Zhucheng HaoTian Pharm Co.Ltd., Sweegen.com, Stevia Extraction Technology, and Layn Corp. and others, are attempting to increase market demand by investing in research and development operations.

Cargill Incorporated (US) with the goal of nourishing the world in a safe, ethical, and sustainable manner, Cargill's 155,000 employees across 70 countries work tirelessly every day. It link customers with ingredients, farmers with markets, and people and animals with the food they require to survive every day. It serves as a trusted partner for customers in the food, agriculture, financial, and industrial sectors in more than 125 countries by fusing our 155 years of experience with new technologies and insights.

Tate &Lyle, our motivation to transform lives through the science of food, our technical know-how and thorough comprehension of the food and beverage market, and our assortment of premium goods and ingredients are three main sources of inspiration. Combining them will give manufacturers the best chance to create products that millions of people enjoy daily by delivering on sweetness, texture, fiber enrichment, and stabilization. Its mission is straightforward: to assist people everywhere in making better food and beverage decisions supporting their local communities and the environment for the long term.

Key Companies in the steviol glycoside market include

• Cargill Incorporated


• Sunrise Nutrachem Group


• Tate & Lyle


• Ingredion Incorporated


• Sunwin Stevia International Inc.


• Kerry Inc.


• FUJIFILM Wako Pure Chemical Corporation


• Evolva


• Koninklijke DSM N.V.


• Archer Daniels Midland Company


• PureCircle, GL Stevia


• Morita Kagaku Kogyo Co. Ltd.


• GLG Life Tech Corp.


• Zhucheng HaoTian Pharm Co.Ltd.


• com


• Stevia Extraction Technology


• Layn Corp.

Steviol Glycoside Industry Developments

March 2022: Codex Alimentarius started the description of stievioside covering four major methods used by it, including the production of fermented stievioside, glucosylstevioside based on glucose transformation and biotransformation processes using leaves of stevia as well as production of stievioside by fermentation.

January 2022: The most recent brand, PureCircle NSF-13, was developed to provide flavor for a wide range of products, including bread, beverages and dairy products. It has been specifically designed to have certain flavor tones, particularly brown notes with a distinctly sweet taste; in addition, it is capable of reducing bitterness.

In January 2022 - Codex Alimentarius, International Food Standards and Safety Commission, included steviol glycosides which were categorized into four main technologies. These will then include steviol glycosides derived from glucosylated steviol glycosides, biotransformation, stevia leaf extract and steviol glycosides from fermentation.

In 2022 - Codex Alimentarius initiated the Framework for Steviol Glycosides which includes four major technologies. These will now comprise steviol glycosides derived from glucosylated steviol glycosides, bioconversion, stevia leaf extract and the stieviaside obtained via fermentation.

In 2021 - Ingredion introduced its latest solution that provides a sweet taste under the declaration of natural flavor named PureCircle NSF-13. This new product is meant to cater to multiple applications such as bakery items like breads, dairy products such as yoghurt, and beverage items including ready-to-drinks as well as carbonated soft drinks.

Steviol Glycoside Market Segmentation

Steviol Glycoside Type Outlook

• Stevioside


• Dulcoside A


• Others

Steviol Glycoside End-User Outlook

• Food


• Beverage


• Others

Steviol Glycoside Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America