The global stevia beverages market size was valued at $225.1 million in 2021, and is estimated to reach $523.5 million by 2031, registering a CAGR of 8.9% from 2022 to 2031.
The carbonated drinks industry showed a modest growth in the past. However, rise in prevalence of obesity and high blood sugar levels among the population resulted in increase in health consciousness among the consumers. Higher consumption of added sugar may lead to obesity that again results in various health diseases such as heart disease, diabetes, high blood pressure, and certain cancers. According to a study by the Global Burden of Disease, around 4.72 billion people died prematurely due to obesity and around 6.53 million people died due to high blood sugar in 2017. These numbers are the key factors attracting the consumers to opt for stevia beverages by replacing regular soft drinks. Therefore, manufacturers are now focusing on reducing the use of sugar and are constantly focusing on developing healthier, sugar-free options for regular carbonated drinks. Hence, the growth of the stevia beverages is expected to propel in the upcoming years.
Surge in expenditure on health & wellness products is helping the stevia beverages market to grow. As consumers become more health-conscious and look for ways to improve their overall health & well-being, they are increasingly turning to products that are perceived as healthier & more natural. Stevia-based beverages are a natural alternative to traditional sugary drinks and are perceived as healthier due to their low calories and low sugar content. This increased spending on health & wellness products is helping to drive the market for stevia beverages, as more consumers are looking for healthier alternatives to traditional sugary drinks. Furthermore, increase in awareness about the health risks of consuming high sugar beverages, is driving the demand for stevia-based beverages. This is particularly important for people who have diabetes or are at risk of developing it, and for those who are overweight or obese. These factors are expected to play a significant role in the growth of the stevia beverages market during the forecast period.
The carbonated drinks industry exhibited growth in the past few decades, but the health risks associated with these drinks are major restraints for the market. Though sugar-free is a healthy option, there are certain risks associated with the carbonation of drinks. Consumption of carbonated drinks may significantly reduce calcium from bones, erode tooth enamel, stomach blenching, and heartburn. These health risks associated with the consumption of carbonated drinks are forcing consumers to opt for non-carbonated drinks such as fruit juices and still water. Hence, carbonation itself is a constraining factor in the growth of the stevia beverages market. There has been a decline in demand for carbonated drinks in mature markets such as North America and Europe since 2016 owing to the health risks.
In recent years, the global stevia beverages market has witnessed an uptick owing to increase in awareness of the health benefits of low-calorie consumable products. Moreover, introduction of several stevia-based beverages is positively supporting the overall market and has been well appreciated by consumers. Further, demand for natural ingredient-based products along with the presence of antioxidants is expected to supplement the market growth.
The stevia beverages market is segmented on the basis of type, application, distribution channel, and region. By type, it is divided into powder, liquid, and other. Depending on application, it is segregated into soft drinks, RTD tea & coffee, RTD juice, sports drinks, and other beverages. As per distribution channel, it is classified into e-commerce, hypermarkets/supermarkets, convenience stores, independent retailers, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Russia, Spain, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Chile, Saudi Arabia, Africa, and rest of LAMEA).
Players operating in the global stevia beverages market have adopted various developmental strategies to expand their market share, exploit the market opportunities, and increase profitability in the market. The key players profiled in this report include PepsiCo, Inc., ViStevia, Plus Beverages, Stevi0cal, Steaz, Merisant Company, Group Krisda Stevia of Canada Inc, Zevia, The Coca-Cola Company, and Cargill, Incorporated.
The carbonated drinks industry showed a modest growth in the past. However, rise in prevalence of obesity and high blood sugar levels among the population resulted in increase in health consciousness among the consumers. Higher consumption of added sugar may lead to obesity that again results in various health diseases such as heart disease, diabetes, high blood pressure, and certain cancers. According to a study by the Global Burden of Disease, around 4.72 billion people died prematurely due to obesity and around 6.53 million people died due to high blood sugar in 2017. These numbers are the key factors attracting the consumers to opt for stevia beverages by replacing regular soft drinks. Therefore, manufacturers are now focusing on reducing the use of sugar and are constantly focusing on developing healthier, sugar-free options for regular carbonated drinks. Hence, the growth of the stevia beverages is expected to propel in the upcoming years.
Surge in expenditure on health & wellness products is helping the stevia beverages market to grow. As consumers become more health-conscious and look for ways to improve their overall health & well-being, they are increasingly turning to products that are perceived as healthier & more natural. Stevia-based beverages are a natural alternative to traditional sugary drinks and are perceived as healthier due to their low calories and low sugar content. This increased spending on health & wellness products is helping to drive the market for stevia beverages, as more consumers are looking for healthier alternatives to traditional sugary drinks. Furthermore, increase in awareness about the health risks of consuming high sugar beverages, is driving the demand for stevia-based beverages. This is particularly important for people who have diabetes or are at risk of developing it, and for those who are overweight or obese. These factors are expected to play a significant role in the growth of the stevia beverages market during the forecast period.
The carbonated drinks industry exhibited growth in the past few decades, but the health risks associated with these drinks are major restraints for the market. Though sugar-free is a healthy option, there are certain risks associated with the carbonation of drinks. Consumption of carbonated drinks may significantly reduce calcium from bones, erode tooth enamel, stomach blenching, and heartburn. These health risks associated with the consumption of carbonated drinks are forcing consumers to opt for non-carbonated drinks such as fruit juices and still water. Hence, carbonation itself is a constraining factor in the growth of the stevia beverages market. There has been a decline in demand for carbonated drinks in mature markets such as North America and Europe since 2016 owing to the health risks.
In recent years, the global stevia beverages market has witnessed an uptick owing to increase in awareness of the health benefits of low-calorie consumable products. Moreover, introduction of several stevia-based beverages is positively supporting the overall market and has been well appreciated by consumers. Further, demand for natural ingredient-based products along with the presence of antioxidants is expected to supplement the market growth.
The stevia beverages market is segmented on the basis of type, application, distribution channel, and region. By type, it is divided into powder, liquid, and other. Depending on application, it is segregated into soft drinks, RTD tea & coffee, RTD juice, sports drinks, and other beverages. As per distribution channel, it is classified into e-commerce, hypermarkets/supermarkets, convenience stores, independent retailers, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Russia, Spain, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Chile, Saudi Arabia, Africa, and rest of LAMEA).
Players operating in the global stevia beverages market have adopted various developmental strategies to expand their market share, exploit the market opportunities, and increase profitability in the market. The key players profiled in this report include PepsiCo, Inc., ViStevia, Plus Beverages, Stevi0cal, Steaz, Merisant Company, Group Krisda Stevia of Canada Inc, Zevia, The Coca-Cola Company, and Cargill, Incorporated.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the stevia beverages market analysis from 2021 to 2031 to identify the prevailing stevia beverages market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the stevia beverages market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global stevia beverages market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Powder
- Liquid
- Other
By Application
- Soft Drinks
- RTD Tea and Coffee
- RTD Juice
- Sports Drinks
- Other Beverages
By Distribution Channel
- Ecommerce
- Hypermarket and Supermarket
- Convenience stores
- Independent retailers
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Russia
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- Chile
- Saudi Arabia
- Africa
- Rest of LAMEA
Key Market Players
- Stevi0cal
- Plus Beverages
- Zevia
- ViStevia
- Merisant Company
- Steaz
- PepsiCo, Inc.
- The Coca-Cola Company
- Group Krisda Stevia of Canada Inc
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: STEVIA BEVERAGES MARKET, BY TYPE
CHAPTER 5: STEVIA BEVERAGES MARKET, BY APPLICATION
CHAPTER 6: STEVIA BEVERAGES MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: STEVIA BEVERAGES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Stevia Beverages Market," the stevia beverages market was valued at $225.12 million in 2021, and is estimated to reach $523.5 million by 2031, growing at a CAGR of 8.9% from 2022 to 2031.Stevia (Stevia rebaudiana Bertoni) is a perennial herb belonging to the Asteraceae family. It is native to South America and is known as sweet herb of Paraguay. The plant is widely known for the presence of sweet-tasting and low-calorie diterpene steviol glycosides (SGs) present in its leaves. Growth in incidences of diabetes & obesity and rise in demand from the beverages industry are expected to drive the adoption of stevia beverages.
The report analyzes the stevia beverages market in accordance with type, application, distribution channel, and region. It includes revenue generated from sales of stevia beverages across the globe. In addition, the study provides a detailed description on various types of stevia beverages, such as powder, liquid, and other. The report further analyzes the market based on application available in the market, including soft drink, RTD tea & coffee, RTD juice, sports drinks, and other beverages.
Companies are developing new flavors of stevia-based beverages to appeal to a wider range of consumers. This can make the products more appealing to a larger customer base. Companies add functional ingredients, such as vitamins, minerals, or herbs, to stevia-based beverages to make them more appealing to health-conscious consumers. This can increase the perceived health benefits of the product and make it more attractive to consumers. Moreover, use of new packaging, such as biodegradable or recyclable materials, to make the products more environmentally friendly. This can appeal to consumers who are looking for more sustainable options and increase the demand for the products. Companies are developing new forms of stevia-based beverages, such as powder, liquid, or tablet form, to cater to different consumer preferences and make the product more convenient to use. They position the product as a premium, healthy, and natural alternative to traditional sugary drinks, which can create a new market segment and attract consumers who are looking for healthier options.
Surge in expenditure on health & wellness products is helping the stevia beverages market to grow. As consumers become more health-conscious and look for ways to improve their overall health & well-being, they are increasingly turning to products that are perceived as healthier & more natural. Stevia-based beverages are a natural alternative to traditional sugary drinks and are perceived as healthier due to their low calories and low sugar content. This increased spending on health & wellness products is helping to drive the market for stevia beverages, as more consumers are looking for healthier alternatives to traditional sugary drinks. Furthermore, increase in awareness about the health risks of consuming high sugar beverages, is driving the demand for stevia-based beverages. This is particularly important for people who have diabetes or are at risk of developing it, and for those who are overweight or obese. These factors are expected to play a significant role in the growth of the stevia beverages market during the forecast period.
In recent years, the global stevia beverages market has witnessed an uptick owing to increase in awareness of the health benefits of low-calorie consumable products. Moreover, introduction of several stevia-based beverages is positively supporting the overall market and has been well appreciated by consumers. Further, demand for natural ingredient-based products along with the presence of antioxidants is expected to supplement the market growth.
The stevia beverages market is segmented on the basis of type, application, distribution channel, and region. By type, it is divided into powder, liquid, and other. Depending on application, it is segregated into soft drinks, RTD tea & coffee, RTD juice, sports drinks, and other beverages. As per distribution channel, it is classified into e-commerce, hypermarkets/supermarkets, convenience stores, independent retailers, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Russia, Spain, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Chile, Saudi Arabia, Africa, and rest of LAMEA).
Players operating in the global stevia beverages market have adopted various developmental strategies to expand their market share, exploit the market opportunities, and increase profitability in the market. The key players profiled in this report include PepsiCo, Inc., ViStevia, Plus Beverages, Stevi0cal, Steaz, Merisant Company, Group Krisda Stevia of Canada Inc, Zevia, The Coca-Cola Company, and Cargill, Incorporated.
Moreover, it highlights revenue generated from the sale of stevia beverages through various distribution channels such as e-commerce, hypermarkets/supermarkets, convenience stores, independent retailers, and others. The report further provides a detailed study of stevia beverages market across various regions that include North America, Europe, Asia-Pacific, and LAMEA.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes the Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. Value chain analysis for this industry, which includes R&D, components manufacturers, assembly, programming & testing, marketing & sales, customers, and post-sales services, is explained. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.
Key Findings of the Study
- The stevia beverages market was valued at $225.1 million in 2021, and is estimated to reach $523.5 million by 2031, growing at a CAGR of 8.9% during the forecast period.
- By type, the powder segment was valued at $101.8 billion in 2021 and it accounted for 45.2% of the market share.
- According to application, the RTD tea & coffee segment is estimated to witness the fastest growth, registering a CAGR of 9.5% during the forecast period.
- As per distribution channel convenience stores held the major share in the market and it accounted for 25.10% of the market share.
- In 2021, the Asia-Pacific was the most prominent market in globe, and is projected to reach $215.6 million by 2031, growing at a CAGR of 9.5% during the forecast period.
Companies Mentioned
- Stevi0cal
- Plus Beverages
- Zevia
- ViStevia
- Merisant Company
- Steaz
- PepsiCo, Inc.
- The Coca-Cola Company
- Group Krisda Stevia of Canada Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | February 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 225.1 million |
| Forecasted Market Value ( USD | $ 523.5 million |
| Compound Annual Growth Rate | 8.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
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