12.01.14
Worldwide sales of stevia have increased by about 14% in 2014, to 4,670 tons, bringing the natural sweetener’s overall market value to approximately $336 million, according to a new study from Zenith International.
“Consumers are increasingly scrutinizing the contents of food and beverage products,” said Simon Redwood, Zenith market intelligence consultant. “Reduction in sugar remains key for manufacturers and, with consumers now also beginning to shun artificial sweeteners, stevia’s natural provenance and near-zero caloric positioning place it at a distinct advantage.”
Gains over the past year have been driven by several high profile new product launches, including the introduction of Coca-Cola Life in a number of key markets. Although beverages remain the focus for stevia usage, dairy, tabletop sweeteners and even pharmaceuticals have all seen strong growth in the past 12 months. The report found that increased awareness of stevia has also helped spur market growth, with more and more consumers coming to appreciate what stevia is and what benefits it provides.
In terms of stevia cultivation, China continues to lead the way and a number of new regions are continuing to emerge. East Africa, South America and even Europe are all receiving greater attention from the leading stevia suppliers, who are keen to satisfy rising demand stevia by offering a broader choice of high quality stevia extracts.
Zenith predicted the global market for stevia will reach 7,150 tons by 2017, equivalent to $578 million. “Health motivation in key Asian markets such as India and Indonesia remains lower, and it is expected to be some years before stevia really takes off in these countries. When it does, the potential for stevia will truly be realized,” said Mr. Redwood.
“Consumers are increasingly scrutinizing the contents of food and beverage products,” said Simon Redwood, Zenith market intelligence consultant. “Reduction in sugar remains key for manufacturers and, with consumers now also beginning to shun artificial sweeteners, stevia’s natural provenance and near-zero caloric positioning place it at a distinct advantage.”
Gains over the past year have been driven by several high profile new product launches, including the introduction of Coca-Cola Life in a number of key markets. Although beverages remain the focus for stevia usage, dairy, tabletop sweeteners and even pharmaceuticals have all seen strong growth in the past 12 months. The report found that increased awareness of stevia has also helped spur market growth, with more and more consumers coming to appreciate what stevia is and what benefits it provides.
In terms of stevia cultivation, China continues to lead the way and a number of new regions are continuing to emerge. East Africa, South America and even Europe are all receiving greater attention from the leading stevia suppliers, who are keen to satisfy rising demand stevia by offering a broader choice of high quality stevia extracts.
Zenith predicted the global market for stevia will reach 7,150 tons by 2017, equivalent to $578 million. “Health motivation in key Asian markets such as India and Indonesia remains lower, and it is expected to be some years before stevia really takes off in these countries. When it does, the potential for stevia will truly be realized,” said Mr. Redwood.
