Next Generation Stevia Market

Next Generation Stevia Market Outlook (2022-2032)

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).

Increasing health consciousness and rising focus on fitness among the general population are anticipated to increase the consumption of natural sweeteners, thereby driving the sales of next generation stevia over the coming years.

Report Attributes	Details
Next Generation Stevia Market Size (2022E)	US$ 747.4 Million
Forecasted Market Value (2032F)	US$ 1.84 Billion
Global Market Growth Rate (2022-2032)	9.4% CAGR
North America Market Share (2022)	26.3%
Europe Market Share (2022)	21.2%
Key Companies Profiled	Cargill Incorporated PureCircle GLG Life Tech Corporation Ingredion Incorporated SweeGen

Next Generation Stevia Demand Survey (2017-2021) in Comparison to Growth Forecast (2022-2032)

Consumer preferences have been witnessing some drastic changes over the past few years as awareness about health and fitness has increased, and this is expected to positively influence next-generation stevia consumption over the years to come.

Increasing demand for low-sugar and low-calorie foods and beverages from health-conscious consumers has resulted in high demand for natural sweeteners such as stevia. Rising popularity of organic products and plant-based foods is expected to bolster next generation stevia extract shipments across the world.

Increasing incidence of diabetes across the world is also expected to majorly drive demand for next generation stevia for use in various food products.

Growing scope of application in bakery, confectionery, desserts, sports nutrition, foods, and beverages is also anticipated to favor next generation stevia consumption growth.

All in all, growing consumer preference for natural sweeteners over artificial and chemical sweeteners is expected to bolster next generation stevia market growth potential over the coming years.

From 2022 to 2032, next generation stevia sales across the world are estimated to increase at a stellar CAGR of 9.4%.

What Factors are Majorly Driving Next Generation Stevia Market Growth?

“Rising Global Demand for Natural Sweeteners”

As health consciousness has increased among the population it has also increased awareness of ill effects associated with high sugar consumption and this has resulted in a heightened demand for natural sweeteners that are healthy alternatives to conventional and artificial sugars.

Demand for organic and plant-based food products is expected to drive the adoption of next generation stevia sweeteners and is expected to bolster market potential throughout the forecast period.

“Increasing Incidence of Diabetes”

Diabetes has become a worldwide phenomenon that has increased in incidence exponentially over the past few years. This has led to the increasing adoption of natural sweeteners that are low in sugar and calories.

Poor eating habits and the increasing geriatric population are expected to further promote the prevalence of diabetes and hence the demand for next generation stevia extract is expected to be high over the years to come.

Is this an Opportune Market for New Next Generation Stevia Companies?

“Start-ups Can Focus on Creating Innovative Sugar Substitutes to Unlock New Market Opportunities”

• 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.

Start-ups can explore the combination of next-generation stevia and other natural sweeteners to further create novel products for consumers across the world and up their revenue generation potential.

Which Region Leads Revenue Generation for Next Generation Stevia Companies?

“North America Provides Highly Lucrative Market Opportunities”

In 2022, the North America next generation stevia market holds a significant market share of 26.3% and a revenue total of US$ 196.6 million.

Increasing demand for natural sweeteners, changing consumer preferences, and increasing demand for organic products are prospects that favour next generation stevia sales in this region. The United States is expected to be the prime market in this region over the forecast period.

The Europe next generation stevia market accounts for a valuation of US$ 158 million at present and holds a market share of 21.2%. 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.

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. 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.

A detailed regional and segmental analysis has been profiled in this latest next generation stevia market study by analysts at Fact.MR, a market research and competitive intelligence provider.

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.

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