At 4.3% CAGR, Stevia Market Size Set to Register 744.8 million USD by 2028

By Sachin Pashte  | Date: January 09, 2023

At 4.3% CAGR, Stevia Market Size Set to Register 744.8 million USD by 2028

Professional analysts forecast that global Stevia Market was valued at USD 554.7 million in 2021 and is projected to grow to USD 744.8 million by 2028, expanding at a CAGR of 4.3% during the review period.

The research includes a complete analysis of the present business landscape of 'Global Stevia Market.' The document covers deep qualitative insights, historical data, and precise market size predictions. The research also acts as a hub for analysis and offers accurate data for all market-related subjects, including but not restricted to regional markets, product categories, and applications. Furthermore, the estimations in the report were created using well-known research procedures and assumptions. It includes growth prospects, crucial target markets, and important players who could have an impact on the market position during the course of the assessment timeframe based on credible data.

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COVID-19 Impact:

With its rapid expansion to more than 215 nations, the COVID-19 outbreak brought about by the SARS-CoV-2 virus generated a serious public health disaster on a global scale. Numerous nations around the world declared emergencies and announced complete nationwide, statewide, & citywide lockdowns to stop the spread of the disease. These actions have had a significant impact on many industries globally and have decreased manufacturing and distribution across the globe.

One such sector where producers are experiencing interruptions in the availability of raw materials as a result of the pandemic is global stevia market. Furthermore, imports and exports have been limited or delayed in many countries since the outbreak, causing challenges for stevia suppliers. However, it is anticipated that the industry would gain momentum in the years to come given that the rapid spread has been stopped.

Segmentation & Regional Overview:

The marketplace is bifurcated on the basis of type and application. Based on type, the industry is segmented into glucosyl stevia, reb M, and reb D. With respect to the application landscape, worldwide stevia market is fragmented into the cosmetics, pharmaceutical industry, healthcare products, food, beverage, and others.

Geographically, the key areas that are predicted to significantly contribute to market revenue during the assessment period are Asia Pacific, Latin America, Middle East & Africa, Europe, and North America. The study aids the investors in identifying the locations with the highest opportunity for increasing their income by performing a national-level analysis.

Competitive Analysis:

Stevia Natura, Daepyung Co. Ltd., Biolotus Technology Inc., Chenguang Biotech Group Co. Ltd., Tate & Lyle PLC, Morita Kagaku Kogyo Co., Ltd., Jining Aoxing Stevia Products Co. Ltd., Cargill Incorporated, Qufu Lvtianyuan High Technology Co. Ltd., GLG Life Tech Corp., Shandong Huaxian Stevia Co. Ltd., Sunwin Stevia International Inc., Shandong Shengxiangyuan Biotechnology Co. Ltd., PureCircle, and Zhucheng Haotian Pharm Co. Ltd. among others are the key competitors in global stevia sector, which are evaluated in terms of their overall sales, strategic planning, and profit margin to ascertain the realm of the competitive landscape.

FAQs:

How might COVID-19 affect businesses that sell and maintain stevia?

What is the current size of the worldwide market for stevia?

What applications and variations of stevia are explored in the study's global market analysis?

What are the opportunities, challenges, and growth-related issues included in the study on stevia?

What detailed import analysis and commodity price agreements are included in the study on the global market for stevia?

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About Author

Sachin Pashte     ibmag.com

Sachin Pashte

Sachin is into market research and web marketing since the last 2 years and has worked on multiple projects across various industries. He has expertise in writing promotional content for market research reports while his personal interests include the games of footbal...

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