The Asia Pacific Stevia Market would witness market growth of 8.2% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 4,680.07 tonnes, showcasing a growth of 11.8% (2020-2023).
The sales and market trend of stevia, a natural sweetener, through online distribution channels have seen significant growth in recent years. As consumers become increasingly health-conscious and seek alternatives to traditional sugar, the demand for stevia products has surged, driving sales through e-commerce platforms. Thus, the China market would consume 1,203.40 tonnes of stevia through online distribution channels by 2031.
The China market dominated the Asia Pacific Stevia Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $155.8 million by 2031. The Japan market is exhibiting a CAGR of 7.5% during (2024 - 2031). Additionally, The India market would experience a CAGR of 8.9% during (2024 - 2031).
Stevia extracts have potential medicinal properties and are used in pharmaceutical formulations as natural sweetening agents. They may be incorporated into chewable tablets, liquid medications, and herbal supplements to improve palatability and mask bitter tastes. Stevia-based sweeteners produce dietary supplements and vitamins to enhance flavor without adding calories or sugar. They contribute to formulating sugar-free and low-calorie supplement products targeted at health-conscious consumers.
Furthermore, stevia extracts are used in cosmetics and personal care products such as lip balms, toothpaste, mouthwashes, and skincare formulations. They provide sweetness and may offer additional benefits such as antimicrobial properties or skin-soothing effects. Likewise, stevia is added to oral care products like toothpaste, mouthwash, and dental floss to improve taste and sweetness. Its natural origin and zero-calorie properties make it an attractive ingredient for oral hygiene products marketed to health-conscious consumers.
As per the data released in 2023 by the India Brand Equity Foundation, it is expected that the Indian pharmaceuticals sector will attain a value of US$65 billion by 2024 and US$130 billion by 2030. An estimated $50 billion is the value of the pharmaceutical industry in India, of which over $25 billion is generated through exports. Thus, owing to the growing pharmaceutical sector in Asia Pacific, there will be increased demand for stevia in the region.
Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Form, the market is segmented into Powder, Liquid, and Leaf. Based on End User, the market is segmented into Food & Beverages, Retail, Pharmaceuticals, and Others. Based on Type, the market is segmented into Reb A, Reb M, and Reb D. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The sales and market trend of stevia, a natural sweetener, through online distribution channels have seen significant growth in recent years. As consumers become increasingly health-conscious and seek alternatives to traditional sugar, the demand for stevia products has surged, driving sales through e-commerce platforms. Thus, the China market would consume 1,203.40 tonnes of stevia through online distribution channels by 2031.
The China market dominated the Asia Pacific Stevia Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $155.8 million by 2031. The Japan market is exhibiting a CAGR of 7.5% during (2024 - 2031). Additionally, The India market would experience a CAGR of 8.9% during (2024 - 2031).
Stevia extracts have potential medicinal properties and are used in pharmaceutical formulations as natural sweetening agents. They may be incorporated into chewable tablets, liquid medications, and herbal supplements to improve palatability and mask bitter tastes. Stevia-based sweeteners produce dietary supplements and vitamins to enhance flavor without adding calories or sugar. They contribute to formulating sugar-free and low-calorie supplement products targeted at health-conscious consumers.
Furthermore, stevia extracts are used in cosmetics and personal care products such as lip balms, toothpaste, mouthwashes, and skincare formulations. They provide sweetness and may offer additional benefits such as antimicrobial properties or skin-soothing effects. Likewise, stevia is added to oral care products like toothpaste, mouthwash, and dental floss to improve taste and sweetness. Its natural origin and zero-calorie properties make it an attractive ingredient for oral hygiene products marketed to health-conscious consumers.
As per the data released in 2023 by the India Brand Equity Foundation, it is expected that the Indian pharmaceuticals sector will attain a value of US$65 billion by 2024 and US$130 billion by 2030. An estimated $50 billion is the value of the pharmaceutical industry in India, of which over $25 billion is generated through exports. Thus, owing to the growing pharmaceutical sector in Asia Pacific, there will be increased demand for stevia in the region.
Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Form, the market is segmented into Powder, Liquid, and Leaf. Based on End User, the market is segmented into Food & Beverages, Retail, Pharmaceuticals, and Others. Based on Type, the market is segmented into Reb A, Reb M, and Reb D. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
List of Key Companies Profiled
- Ingredion Incorporated
- Tate & Lyle Plc
- The Coca Cola Company
- PepsiCo, Inc.
- Archer Daniels Midland Company
- Pyure Brands, LLC
- Cargill, Incorporated
- S&W Seed Company
- Morita Kagaku Kogyo Co., Ltd.
- Evolva Holdings SA
Market Report Segmentation
By Distribution Channel (Volume, Tonnes, USD Billion, 2020-2031)- Offline
- Online
- Powder
- Liquid
- Leaf
- Food & Beverages
- Retail
- Pharmaceuticals
- Others
- Reb A
- Reb M
- Reb D
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Asia Pacific Stevia Market by Distribution Channel
Chapter 5. Asia Pacific Stevia Market by Form
Chapter 6. Asia Pacific Stevia Market by End User
Chapter 7. Asia Pacific Stevia Market by Type
Chapter 8. Asia Pacific Stevia Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Ingredion Incorporated
- Tate & Lyle Plc
- The Coca Cola Company
- PepsiCo, Inc.
- Archer Daniels Midland Company
- Pyure Brands, LLC
- Cargill, Incorporated
- S&W Seed Company
- Morita Kagaku Kogyo Co., Ltd.
- Evolva Holdings SA
Methodology
LOADING...
