Vijay Kundekar (4)

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Stevia Market is Anticipated to Register CAGR of
7.0 by 2029 Future Market Insights (FMI)

• Feb 2020

Report Id REP-GB-38 Published On
17-Sep-2019 Category Food and Beverages
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Research Methodology (1/2)

• Systematic Research Approach

In-depth secondary research is used to ascertain overall market size, top industry players, top products, industry associations, etc.
PMR formulates a detailed discussion guide to conduct expert and industry interviews
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PMR conducts interviews with industry experts, industry players, distributors and retailers
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Stevia Market Analysis
According to a new study by FMI, global sales of
stevia is expected to reach US 310 Mn in 2019.
The rise in the demand for the stevia can be
attributed to its low-calorie content along with
growing demand for effective solutions to
counteract lifestyle diseases such as diabetes
and obesity. Stevia is a natural, zero-calorie
sweetener which is derived from the leaves of the
plant Stevia rebaudiana. It contains active
compounds known as steviol glycosides which is
30-150 times sweeter than the sucrose. The active
steviol glycosides are pH stable and heat-stable.
The use of stevia as a sweetener is approved by
various governments across the world. Stevia is
found in more than 1,400 food and beverage
products, which include soft drinks, juices,
yogurts, confectionery, bakery and many
more. Powder extract of stevia continues to
influence growth strategies, in the view of
longer shelf-life and ease of transportation. As
the powder extract accounted for 90 share in
2018, manufacturers are specifically focused in
this category which further include stevia blends
and glycosides.
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Stevia Market Analysis
While conventional stevia continues to account
for relatively high share in the market, the
demand for organic variants is expected to
increase at a robust rate in the coming years. An
increase in health-awareness and inclination of
consumers towards healthy products are some
drivers for the growth of the organic stevia
market. Stevia find numerous applications in
dairy food products, bakery products, dietary
supplements, beverages, packaged food products,
confectionery products, snacks, table top
sweeteners, and others (electrolyte powder and
medicinal formulations). Of these, significant
application in beverages is likely to account for
major share of manufacturers bottom lines.
WHO Government Support for the Use of Stevia in
the Food Beverages Industry Boosting the Market
Growth The support from health organizations and
governments is one of the key reasons for the
growth of the stevia market. As todays consumers
interpret the safety of the product by looking
for certifications and government approval, it
becomes necessary for the manufacturers in the
food and beverages industry to use appropriate
ingredients to gain the trust of the consumers.
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Stevia Market Analysis
Stevia has received approval from various
regulatory bodies to be used as a natural
sweetener in a number of end-use applications,
thereby offering significant impetus to the
market growth.
Manufacturers Emphasize on Building Consumer
Trust through Transparency in Production New
technologies have provided consumers the
accessibility to smart labels, through which,
they can track the journey of the products.
Consumers are nowadays asking food companies to
increase the transparency of their products,
going beyond free-from status, ingredients, and
nutritional levels. Buyers are demanding to
understand the background of the products from
where and how the ingredients were sourced to the
manufacturing of the end product. In the food and
beverages industry, trust and transparency have
become major challenges, as there aren't any
strict regulations and guidelines laid down by
governments regarding clean labeling.
Companies have started using clean labeling as a
catchword for promotional and marketing purposes,
and have taken advantage of this to sell their
products as clean label products. It is essential
for manufacturers to adopt cleaner practices to
sell their clean label food products without
alienating the trust of consumers.
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Stevia Market Analysis
This study by FMI offers insights into the stevia
market for the forecast period of 2019-2029. The
stevia market is projected to record a CAGR of
7 during the predefined timeframe. Source
Link  https//www.globenewswire.com/news-release/
2019/10/03/1924627/0/en/Stevia-Market-is-anticipat
ed-to-grow-at-a-CAGR-of-7-during-the-forecast-peri
od-of-2019-to-2029-Future-Market-Insights.html

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• About Us
• Future Market Insights (FMI) is a leading market
  intelligence and consulting firm. We deliver
  syndicated research reports, custom research
  reports and consulting services which are
  personalized in nature. FMI delivers a complete
  packaged solution, which combines current market
  intelligence, statistical anecdotes, technology
  inputs, valuable growth insights and an aerial
  view of the competitive framework and future
  market trends.

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Stevia Market Analysis
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