According to a new report, published by KBV research, The Global Stevia Market size is expected to reach $1.5 billion by 2031, rising at a market growth of 7.8% CAGR during the forecast period. In the year 2023, the market attained a volume of 12,488.77 tonnes, experiencing a growth of 11.5% (2020-2023).
The Reb A segment is generating the highest revenue in the Global Stevia Market by Type in 2023; thereby, achieving a market value of $746.6 million by 2031. With increasing concerns about obesity, diabetes, and other health issues related to excessive sugar consumption, consumers are seeking healthier alternatives. Reb A, being a natural, zero-calorie sweetener, has gained popularity as a substitute for sugar in various food and beverage products. Hence, these factors can assist in the expansion of the segment.
The Online segment is registering a CAGR of 8.5% during (2024 - 2031). Stevia manufacturers and brands have capitalized on the growth of e-commerce by establishing their online presence through company websites, e-commerce platforms (e.g., Amazon, Alibaba), and direct-to-consumer online stores. This direct-to-consumer approach allows them to reach a broader audience of consumers globally and offer personalized shopping experiences. Therefore, these factors will drive the expansion of the stevia market.
The Powder segment is leading the Global Stevia Market by Form in 2023; thereby, achieving a market value of $616.5 million by 2031. Stevia powder offers zero-calorie sweetness, making it an attractive option for health-conscious consumers seeking to reduce their calorie intake and manage weight. Unlike sugar, which contributes to empty calories and is associated with various health concerns, stevia powder provides sweetness without adding calories, making it suitable for individuals following calorie-controlled diets or managing conditions like diabetes. Hence, the segment will grow rapidly in the coming years.
The Pharmaceuticals segment is experiencing a CAGR of 8.2% during (2024 - 2031). Stevia’s ability to provide sweetness without affecting blood glucose levels has positioned it as a valuable ingredient for pharmaceutical products to manage diabetes and metabolic disorders. Steviol glycosides do not impact insulin secretion or glycemic control, making them suitable for diabetic-friendly formulations. As per the data from the Government of Mexico, in the fourth quarter of 2023, pharmaceutical manufacturing recorded a gross domestic product of $5.18T MX. Hence, these factors will boost the demand in the segment.
Full Report: https://www.kbvresearch.com/stevia-market/
The Asia Pacific region dominated the Global Stevia Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $601.9 million by 2031. The Europe region is anticipating a CAGR of 7.2% during (2024 - 2031). Additionally, The North America region would exhibit a CAGR of 7.4% during (2024 - 2031).
By Distribution Channel (Volume, Tonnes, USD Billion, 2020-2031)
By Form (Volume, Tonnes, USD Billion, 2020-2031)
By End User (Volume, Tonnes, USD Billion, 2020-2031)
By Type (Volume, Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Tonnes, USD Billion, 2020-2031)
Unique Offerings 
