The global next generation stevia market stands at US$ 747.4 million in 2022 and is projected to surge past a market valuation of US$ 1.84 billion by the end of 2032, with worldwide demand estimated to rise at an impressive CAGR of 9.4% across the forecast period (2022-2032).
Natural sweeteners like stevia are in great demand as a result of growing consumer demand for low-calorie and low-sugar meals and beverages. The growing demand for organic products and plant-based foods is predicted to increase global shipments of the next generation of stevia extract.
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Key Takeways From Market Study:
- North America next generation stevia market holds a significant market share of 26.3% and a revenue total of US$ 196.6 million.
- The Europe next generation stevia market accounts for a valuation of US$ 158 million at present and holds a market share of 21.2%.
- The China next generation stevia market holds a market share of 9.7% and accounts for a total valuation of US$ 72.5 million in 2022.
- The market for next generation stevia in the Asia Pacific region is expected to provide rewarding opportunities owing to the increasing demand for natural sweeteners and the high incidence of diabetes.
Rising prevalence of diabetes, presence of key food manufacturers, and increasing focus on health and fitness are expected to be prominent trends favouring next generation stevia market potential in this region.
Competitive landscape:
Next generation stevia manufacturers are anticipated to focus on research and development of novel product offerings to gain a competitive edge over other market players. Next generation stevia suppliers are also expanding their offerings by commercializing new products and launching new products to strengthen their market presence.
- In January 2021, SweeGen, a company focused on sweeteners, announced that it was commercializing its Bestevia Rebaudioside N (Reb N). This stevia is particularly suitable for beverages and is created from a patented technology from Conagen, a biotech company.
Market Developments:
- Arboreal, an India-based start-up focused on providing low-calorie natural sugar substitutes raised around US$ 3.5 million in two rounds of funding. The company aims to develop sugar substitutes that not only taste sweet but also mimic the qualities of sugar in terms of feel and texture as well.
- B.T. Sweet Ltd., an Israel-based food technology start-up, unveiled a new plant-based sweetener called Cambya, which acts as a drop-in sugar replacer for several applications.
New market players can focus on research and development to create novel sweetening solutions and gain a prominent market share in the global next generation stevia industry.
Key Segments Covered in Next Generation Stevia Industry Research
- By Form :
- Liquid
- Powder
- By Application :
- Bakery
- Confectionery
- Cereal-based Products
- Dairy Products
- Beverages
- Carbonated Beverages
- Juices
- Others
- Nutraceuticals/ Pharmaceuticals
- Others
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Questionnaire answered in the Market outlook Report of Next Generation Stevia include:
- What is the key strategy deployed by large players to maximize Next Generation Stevia Market growth?
- What are the main challenges faced by players in the Next Generation Stevia market Demand?
- With the advent of technological advancement, how will the Next Generation Stevia market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Next Generation Stevia market size?
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global Next Generation Stevia Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by Form (Liquid, Powder), By Application (Bakery, Confectionery Cereal-based Products, Dairy Products, Beverages, Nutraceuticals/ Pharmaceuticals) and by region (North America, LATAM, Europe, East Asia, South Asia & Oceania, and MEA).
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