Market Size of Asia-Pacific Stevia Industry
| 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 |
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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 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 | |||||||
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Asia-Pacific Stevia Market Size Summary
The Asia-Pacific stevia market is experiencing significant growth, driven by increasing health awareness among consumers who are more inclined to choose products with natural sweeteners over high-calorie alternatives. This shift in consumer preference has prompted manufacturers in the food and beverage sector to incorporate stevia as a low-calorie sweetener, addressing global concerns related to obesity and diabetes. Stevia's appeal lies in its natural origin and numerous benefits, such as being calorie-free, tooth-friendly, and stable under various conditions, making it an ideal choice for a wide range of beverages, including teas, coffees, and carbonated soft drinks. The market's expansion is further supported by the growing demand for natural sweeteners in the region, particularly in China, which serves as a major production base for stevia due to its rapidly developing end-user industries.
The Asia-Pacific stevia market is characterized by its fragmented nature, with key players like Cargill Incorporated, PureCircle, Tate & Lyle, and Ingredion Incorporated leading the charge through strategic initiatives such as new product launches and partnerships. These companies are expanding their product lines by offering stevia in various forms, including leaves and liquid, to capture a larger market share. The market's growth is also influenced by the Chinese consumers' preference for natural products, partly due to traditional medicine influences, and the strict regulations on certain artificial sweeteners. This combination of factors is contributing to the robust expansion of the stevia market across the Asia-Pacific region.
Asia-Pacific Stevia Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product Form
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2.1.1 Powder
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2.1.2 Liquid
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2.1.3 Leaf
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2.2 By Application
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2.2.1 Bakery
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2.2.2 Confctionery
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2.2.3 Dairy
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2.2.4 Beverages
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2.2.5 Dietary Supplements
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2.2.6 Other Applications
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 Japan
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2.3.1.3 India
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2.3.1.4 Australia
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2.3.1.5 Rest of Asia-Pacific
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Asia-Pacific Stevia Market Size 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.
