Middle East and Africa Stevia Market is expected at USD 60 million in 2024 and is estimated to be growing at a CAGR of 7.15%, to reach USD 80 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 sweeteners segment due to its advantages like low-calorie and high protein. Stevia has its special flavour 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 Middle East and Africa Stevia market is majorly driven by the growth in awareness of health benefits of stevia and 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 being a complex method, procuring raw material to get the final product is a major problem for companies in this market.
the Middle East and Africa market is analysed under the regions namely Middle East and Africa. The region consists of many developing countries and is thus expected to show substantial growth in coming years.
Key Players In Middle East And Africa Stevia Market Are Nestlé S.A, The Coca-Cola Company and PepsiCo Inc, Cargill Inc, Evolva Holding S.A, PureCircle Ltd, Stevia Corp, Ingredion Inc, GLG Life Tech Corp, Tate & Lyle Plc.
Frequently Asked Questions
Several factors contribute to the growth, including increasing health consciousness among consumers, rising demand for low-calorie sweeteners, and the expanding food and beverage industry.
Stevia is used in various applications, primarily in the food and beverage sector, including dairy products, bakery and confectionery items, beverages, and tabletop sweeteners. It is also utilized in oral care products and pharmaceuticals
Challenges include the complexity of the stevia extraction process, which can affect production efficiency and cost. Additionally, market penetration can be hindered by limited awareness about stevia's benefits and competition from other low-calorie sweeteners
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