The Asia Pacific Stevia Market is predicted at USD 190 million in 2024 and is estimated to be growing at a CAGR of 11.1%, to reach USD 320 million by 2029.
The market is showcasing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rapid development in the nutrition industry. Stevia has an important place in the sweeteners segment due to its advantages like low-calorie and high protein. Stevia has its special flavor and sweetness which is about 200 to 350 times more than normal sugar. Several food & beverage companies use stevia to enhance the taste of products without adding calories. Thus, stevia will be seen as a business opportunity in the coming five years. Also, many multinational companies have started venturing into the production of various types of stevia.
The Asia Pacific Stevia market is majorly driven by the growth in awareness of the health benefits of stevia and by providing profitable margins to distributors. Also, rising product visibility in retail, as well as product availability, is expected to improve the demand for stevia-based products amongst consumers across the globe. Stevia creation is a complex method, procuring raw material to get the final product is a major problem for companies in this market.
Asia Pacific Stevia Market Analysis By Application
The region consists of many developing countries, majorly, China and India, and is thus expected to show substantial growth in coming years.
Frequently Asked Questions
Key growth drivers include the rising prevalence of diabetes, increasing consumer preference for low-calorie sweeteners, regulatory support for natural ingredients, and expanding applications of stevia in food and beverages.
Stevia is primarily used in the food and beverage industry for applications such as soft drinks, confectionery, baked goods, dairy products, and tabletop sweeteners. It is also increasingly used in pharmaceuticals and cosmetics.
Positive regulatory support, such as the approval of stevia as a safe sweetener by China’s Ministry of Health and the Food Safety and Standards Authority of India (FSSAI), has significantly boosted market adoption.
Stevia-based products are marketed as natural, zero-calorie, and diabetic-friendly alternatives to sugar, emphasizing their plant-based origin and benefits for weight management and overall health.
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