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Asia-Pacific Stevia Market Size (2024 - 2029)

The Asia-Pacific stevia market is experiencing significant growth, driven by increasing health awareness and the rising demand for low-calorie sweeteners. Consumers are becoming more vigilant about product labels, prompting manufacturers to replace high-calorie polyols with natural sweeteners like stevia. This shift is particularly evident in the food and beverage industry, where there is a growing concern over obesity and diabetes, leading to the introduction of products featuring natural low-calorie sweeteners.

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Market Size of Asia-Pacific Stevia Industry

asia-pacific stevia market summary
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

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*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 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
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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.

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Asia-Pacific Stevia Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product Form

      1. 2.1.1 Powder

      2. 2.1.2 Liquid

      3. 2.1.3 Leaf

    2. 2.2 By Application

      1. 2.2.1 Bakery

      2. 2.2.2 Confctionery

      3. 2.2.3 Dairy

      4. 2.2.4 Beverages

      5. 2.2.5 Dietary Supplements

      6. 2.2.6 Other Applications

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 Japan

        3. 2.3.1.3 India

        4. 2.3.1.4 Australia

        5. 2.3.1.5 Rest of Asia-Pacific

Asia-Pacific Stevia Market Size FAQs

The Asia-Pacific Stevia Market is projected to register a CAGR of 8.10% during the forecast period (2024-2029)

 Cargill, Incorporated, Tate & Lyle PLC, Ingredion Incorporated,  Archer Daniels Midland Company and PureCircle are the major companies operating in the Asia-Pacific Stevia Market.

APAC Stevia Market Report Snapshots

Asia-Pacific Stevia Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)