APAC Stevia Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.10 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
APAC Stevia Market Analysis
The Asia-Pacific stevia market is projected to register a CAGR of 8.1% during the forecast period.
- As health awareness is growing, most of the population thoroughly checks the label of a product before buying it, and this awareness among consumers has prompted the manufacturers to undertake the replacement of high-calorie polyols with natural sweeteners.
- The increasing demand for low-calorie sweeteners from the food and beverages manufacturers has increased from last few years, owing to the rising concern over obesity and diabetes across the world. Many key players in the food and beverage industry have been introducing products with natural low-calorie sweeteners, mainly stevia.
APAC Stevia Market Trends
This section covers the major market trends shaping the APAC Stevia Market according to our research experts:
Increased Utilization in Beverages
Stevia is a natural choice for sweetening a wide variety of beverages, such as teas, coffees, soft drinks, flavored waters, juices, and alcoholic beverages. The stevia solutions formulated for specific beverage applications can provide a superior, clean, sugar-like taste with reduced linger. Stevia's rapid growth in the beverages market is a testament to its many benefits, including zero calories, 100% natural origin, and being non-caloric, tooth-friendly, non-fermenting, highly soluble, and pH, heat, photo (light), and shelf-stable. It is also an excellent sweetener choice for CSDs (carbonated soft drinks), which typically have a low pH, especially considering the wide range of temperatures that the CSDs experience during their shelf life in some markets.
China Dominates the Market
China, as the world's production base for stevia sweeteners, has been becoming an important end-user market, aided by the huge and fast-growing end-user industries. This dramatic growth has been driven by the fast development of the end-user industries, especially functional beverages and foods, glazed fruits, tea and juice beverage, medicines, and other end-user industries, which are the major application fields for stevia in China. The Chinese consumers, who are greatly influenced by Chinese traditional medicine and natural products, have a higher preference for stevia sweeteners, compared to other HIS. Strict restrictions on the application and production of some artificial HIS, especially saccharin and cyclamate, also largely contribute to the growth of the stevia market.
APAC Stevia Industry Overview
The Asia-Pacific stevia market is highly fragmented and Cargill Incorporated, PureCircle, Tate & Lyle, and Ingredion Incorporated are some of the companies leading the stevia market due to their new product launches. The companies have also been adopting strategies, such as partnerships and new product launches in different forms, such as leaves and liquid to increase their product line and share.
APAC Stevia Market Leaders
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Cargill, Incorporated
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Tate & Lyle PLC
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Ingredion Incorporated
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Archer Daniels Midland Company
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PureCircle
*Disclaimer: Major Players sorted in no particular order
APAC Stevia Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
- 3.1 Market Overview
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Product Form
- 5.1.1 Powder
- 5.1.2 Liquid
- 5.1.3 Leaf
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5.2 By Application
- 5.2.1 Bakery
- 5.2.2 Confctionery
- 5.2.3 Dairy
- 5.2.4 Beverages
- 5.2.5 Dietary Supplements
- 5.2.6 Other Applications
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 Japan
- 5.3.1.3 India
- 5.3.1.4 Australia
- 5.3.1.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Most Active Companies
- 6.2 Most Adopted Strategies
- 6.3 Market Share Analysis
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6.4 Company Profiles
- 6.4.1 Cargill Incorporated
- 6.4.2 Tate & Lyle PLC
- 6.4.3 Ingredion Incorporated
- 6.4.4 Layn Corp.
- 6.4.5 PureCircle
- 6.4.6 Archer Daniels Midland Company
- 6.4.7 Sunwin Stevia International Inc.
- 6.4.8 Biolotus Technology Lasa Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityAPAC Stevia Industry Segmentation
The Asia-Pacific stevia market is segmented by product form that includes powder, liquid, and leaf. Based on the application, the market is segmented into bakery, confectionery, dairy, beverages, dietary supplements, and other applications. The study also involves the analyses of regions, such as China, Japan, India, Australia, and the Rest of Asia-Pacific.
| By Product Form | Powder | |
| Liquid | ||
| Leaf | ||
| By Application | Bakery | |
| Confctionery | ||
| Dairy | ||
| Beverages | ||
| Dietary Supplements | ||
| Other Applications | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| Rest of Asia-Pacific |
APAC Stevia Market Research FAQs
What is the current Asia-Pacific Stevia Market size?
The Asia-Pacific Stevia Market is projected to register a CAGR of 8.10% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Stevia Market?
Cargill, Incorporated, Tate & Lyle PLC, Ingredion Incorporated, Archer Daniels Midland Company and PureCircle are the major companies operating in the Asia-Pacific Stevia Market.
What years does this Asia-Pacific Stevia Market cover?
The report covers the Asia-Pacific Stevia Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Stevia Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
APAC Stevia Industry Report
Statistics for the 2024 APAC Stevia market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. APAC Stevia analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
