Allied Market Research

2024

Steviol Glycoside Market

Steviol Glycoside Market Size, Share, Competitive Landscape and Trend Analysis Report by Type and by End Use Industry : Global Opportunity Analysis and Industry Forecast, 2023-2032

MC : Bulk Chemicals

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Author's: | Eswara Prasad
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Steviol Glycoside Market Analysis

Steviol glycoside is a chemical compound that imparts a sweet taste to leaves of the plant Stevia rebaudiana, a local South American plant and structures the primary component segment of a variety of sugars sold under the generic name stevia. Commercially, stevia is a white powder composed of one or more extremely sweet glycosides derived from leaves of stevia; it finds usage as a non-caloric sweetener. Steviol glycoside is about 30 and 320 times sweeter than sucrose. Sucrose refers to common sugar composed of two monosaccharaides: glucose and fructose. Steviol are constant in heat, pH-stable, ferment, when ingested they do not induce a glycemic response, consequently, making them good options as sugar substitutes for people suffering from diabetes and other people who need to control carbohydrates in their diet. Many food & beverage companies use stevia as a natural sweetener to make products with improved taste and less total calories. Steviol glycoside stimulates insulin secretion and prevents high blood glucose after a meal.

COVID-19 scenario analysis:

  • The global market for Steviol glycosides is severely impacted by the outbreak of the COVID-19 pandemic. 
  • The COVID-19 pandemic led to a decline in the economic growth in almost all major countries, thus affecting consumer spending patterns. 
  • Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
  • Thus, insufficiency in raw material supply is expected to hamper the production rate of Steviol glycosides, which negatively impact the market growth. 

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

The steviol glycoside market has improved performance because of the huge interest for artificial sweeteners. It's a safe choice for diabetes patients. The increasing demand from food makers, for example, products as fruits and milk-based beverages, yoghurts and treats as far as artificial sugars drives the steviol glycoside market. This helps in retaining pleasantness for longer than sugar. Steviol glycoside is exceptionally popular in the market since customers are progressively disposed toward safe and quick intake of food synthetic or ingredients.

Its adverse effects on infants as a sugar substitute restrain growth of the Steviol glycoside market during the forecast period. In some cases, Steviol can cause a severe allergic reaction called anaphylaxis, though this occurs rarely.Symptoms of allergic reactions are, hives dizziness, wheezing, shortness of breath, general weakness or having difficulty in swallowing shortly after intake of steviol glycoside.

New product launches to flourish the market

Cargill Incorporated and Koninklijke DSM N.V. declared collaboration effort for the development of sweet tasting chemicals for use in food and beverage, pharmaceutical market, for example, steviol glycosides Rebaudioside M and Rebaudioside D by fermentation process resulting in larger quantities of the compounds as compared to the traditional methods giving food and beverage manufacturers an even more scalable, sustainable and low cost solution than if these same molecules were extracted from the stevia leaf. 

Surge in use in industrial applications

Steviol glycoside is leading in food and beverage industry and serving it. Due to low calorie feature customer demands are increasing. Stevia is utilized as a substitute for sugar to add characteristic sweetness to hot or cold beverages, to be sprinkled on natural items, or for use in cooking. Stevi is a wellspring of pleasantness, which is 200–300 times better than sugar and is reasonable for diabetics and individuals experiencing phenylketonuria. Natuvia by PureCircle, SteviaFirst Corp and Truvia are some of the commonly referred to brands of stevia as a tabletop sweetener. Mainly it is utilized in beverages such as diet carbonated drinks, flavored water, soft drinks, fruit juices, ready-to-drink beverages, and sports & energy drinks. 

Key benefits of the report:

  • This study presents the analytical depiction of the global Steviol Glycoside industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global steviol glycoside market.
  • The current market is quantitatively analyzed highlight the global steviol glycoside market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global steviol glycoside market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the steviol glycoside market research report:

  • Who are the leading market players active in the steviol glycoside market?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the steviol glycoside market?
  • What are the projections for the future that would help in taking further strategic steps?

Steviol Glycoside Market Report Highlights

Aspects Details
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By Type
  • Stevioside
    • Rebaudioside A
    • Rebaudioside C
    • Dulcoside A
    • Other
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By End Use Industry
  • Beverage
    • Food
    • Medicine
    • Chemicals
    • Paints & Coatings
    • Personal Care
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By Region
  • North America  (US, Canada)
  • Europe  (Germany, UK, France, rest of Europe)
  • Asia-Pacific  (China, Japan, India, rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, rest of LAMEA)
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Key Market Players

Ingredion, Inc., GL Stevia, PureCircle, Cargill, Daepyung, Morita Kagaku Kogyo, Merisant, Zydus, Sunrise Nutrachem Group, Tate & Lyle

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Steviol Glycoside Market

Global Opportunity Analysis and Industry Forecast, 2023-2032