Global Stevia Market Size and Share Analysis 2023-2028

Market Overview

The stevia market is projected to experience significant growth, increasing from USD 767.16 million in 2023 to USD 1.24 billion by 2028, at a compounded annual growth rate (CAGR) of 10.06% during the forecast period (2023-2028).

Stevia, a natural sweetener and sugar substitute, is derived from the leaves of the plant species Stevia rebaudiana, indigenous to countries like Brazil and Paraguay. The least processed and raw form of stevia is known as stevia leaf.

Product Type

Market Report

No. of Pages


Release Date

April 2023

Base Year


Forecast Period


Market Size

USD 1238.9 Mn incremental growth between 2022 and 2027

Market Segments

Format, Application, and Geography



No. of Companies Mentioned


In recent years, stevia has garnered increasing popularity as a natural alternative to artificial sweeteners, particularly among individuals seeking to reduce their calorie intake or manage blood sugar levels. Being a plant-based sweetener, stevia is much sweeter than sugar, yet has zero calories. Besides its application as a sweetener in food and beverage products, stevia is also used in some personal care items as a natural, low-calorie substitute for sugar-based ingredients. Research suggests that stevia may offer potential health benefits, including blood pressure reduction and improved insulin sensitivity.

Stevia suppliers face price competition due to variations in the form and purity of the product. Stevia prices are largely influenced by demand and overall transportation costs. Major stevia-consuming countries typically meet their demand through imports, but changing trade policies and low production yields in exporting nations can significantly impact stevia leaf prices. Furthermore, the number of stevia producers in the market is limited, leading to heightened competition among existing suppliers due to increased market demand.

Market players are primarily focused on supplying food-grade stevia ingredients suitable for snacks and meal products in the industry. For example, Archer Daniels Midland (ADM) has introduced SweetRight Edge, a complete lineup of no-calorie sweeteners obtained from carefully grown stevia plants. These products adhere to ADM’s high-quality standards and offer a reliable supply, promoting simple and clean labels in food and beverages. SweetRight Edge, an innovative sweetening system, effectively utilizes the best components of the stevia plant to replace sugar’s sweetness, surpassing other steviol glycosides by up to 15%. It can successfully replace artificial sweeteners in snack bars, catering to the increasing consumer demand for healthier alternatives.

Market Segmentation

The market is segmented based on various factors, including format, application, and geography.

Segmentation by Format

Segmentation by Application
Tabletop Sweeteners
Other Applications

Segmentation by Geography
North America – United States, Canada, Mexico, and Rest of North America
Europe – United Kingdom, Germany, France, Italy, Spain, Russia, and Rest of Europe
Asia-Pacific – China, Japan, India, Australia, and Rest of Asia-Pacific
Latin America – Brazil, Argentina, and Rest of Latin America
Middle East and Africa – Saudi Arabia, South Africa, and Rest of Middle East and Africa

The global demand for natural sweeteners, such as stevia, has been driven by the rising preference for low-sugar or no-calorie diets due to the increasing prevalence of obesity and diabetes. According to the International Diabetes Federation (IDF), the number of adults aged between 20 and 79 years with diabetes reached approximately 537 million in 2021. This figure is projected to escalate to 643 million by 2030 and 783 million by 2045, with diabetes causing 6.7 million deaths in the same year. As a result, there has been a growing interest in sugar alternatives, fueled by concerns over the adverse health effects associated with excessive sugar consumption. While artificial sweeteners have been popular for decades, safety and potential side effects have raised concerns among health-conscious consumers. Consequently, many individuals have turned to natural or plant-based sugar substitutes like stevia, which are derived from natural sources and are perceived as healthier alternatives to artificial sweeteners. Additionally, novel sweeteners with intense sweetness or taste-modifying properties, extracted from plants, are being developed, offering a much sweeter taste than sugar, with minimal to no caloric content.

In September 2021, Ingredion Incorporated, a prominent global provider of ingredient solutions to the food and beverage manufacturing industry, entered into an exclusive US stevia pilot production supply agreement with S&W Seed Company, a global integrated agricultural seed technology company. Under this agreement, S&W will utilize its proprietary stevia plant portfolio and production techniques to supply Ingredion with high-quality, US-sourced stevia plants. This development, coupled with the increasing demand for natural sweeteners due to rising health consciousness among consumers, is anticipated to propel market growth.

The growth of the stevia market in the Asia-Pacific region is primarily driven by several factors, including a surge in demand from the beverage sector, heightened concerns over diabetes and obesity, and regulatory restrictions on specific artificial sweeteners.

Notably, the beverage sector has played a significant role in driving the adoption of stevia in the region. Consumers seeking low-calorie alternatives to sugary beverages, which have been linked to the rising rates of obesity and diabetes, have prompted beverage manufacturers to incorporate stevia as a natural, calorie-free sweetener in various products, including soft drinks, juices, and teas. Additionally, regulatory restrictions on certain artificial sweeteners in countries like China have further fueled the demand for stevia, as natural sweeteners gain preference.

Furthermore, the growing awareness of the health benefits associated with natural sugar substitutes and a favorable regulatory outlook have also contributed to the growth of the stevia market in the Asia-Pacific region. Consumers increasingly favor natural, plant-based alternatives to artificial sweeteners, and regulatory bodies support this trend by approving stevia as a safe and effective food additive. For instance, Japan, a significant market in the region, has been making efforts to achieve diet-related non-communicable disease (NCD) targets, but obesity remains a concern.

In response to the growing demand for clean-label ingredients, market players have been introducing products with clean-label claims. Sweegen Inc., a nature-based sweetener company based in the United States, received approval from the Food Standards Australia New Zealand (FSANZ) to launch its new non-GMO, nature-based stevia sweetener, BESTEVIA Reb M, in Australia. Regulatory pressures across various Asian countries, including taxes and increasing health consciousness, are compelling global brands to incorporate natural sweeteners like stevia into their product offerings, thereby boosting the market across the region.

Competitive Landscape

The stevia market is characterized by strong competition, with a limited number of international players dominating the landscape. Among these, key industry leaders such as Ingredion Incorporated, Tate & Lyle PLC, Archer Daniels Midland Company, Cargill Incorporated, and Zhucheng Haotian Pharma Co. Ltd, are strategically increasing their investments in research and development (R&D) and marketing efforts. Additionally, they are actively expanding their distribution channels to maintain their prominent positions in the market.

To remain at the forefront of the industry, these companies are implementing competitive strategies aimed at pioneering new-generation technologies for stevia product production. Leveraging economies of scale and benefiting from a high level of brand loyalty among consumers, these players enjoy a competitive advantage over their counterparts.

Furthermore, these industry leaders are continually diversifying their product portfolios across all relevant categories. This approach serves to fortify their market positions and contributes to their overall growth and success in the stevia market.

Recent Industry Developments

In July 2022, Sweegen, a prominent sweetener producer based in the United States, unveiled its latest innovation, the Bestevia LQ, during the Institute of Food Technologists meeting and exposition (IFT FIRST) in Chicago. This new line of liquid stevia sweeteners is specifically designed to reduce sugar content in various products, including concentrated fruit/flavored syrups, confectionary items, liquid sweeteners, dessert toppings, and carbonated soft beverages.

In March 2022, Cargill made a significant announcement regarding its stevia products, introducing the commercial availability of its cutting-edge EverSweet + ClearFlo technology. This innovative sweetener system combines Cargill’s stevia sweetener with a natural flavor, offering multiple advantages such as flavor modification, enhanced dissolution speed, and improved solubility and stability in various formulations, as stated by the company.

During July 2021, Layn, a key player in the natural sweetener industry, responded to the escalating global demand for natural sweeteners by constructing a state-of-the-art stevia plant. The company invested a substantial sum of USD 148 million in this new production facility, which boasts the capability of processing 4,000 tons of stevia leaf extract annually. This strategic move is aimed at addressing the growing needs of the market and reinforcing Layn’s position in the natural sweetener sector.

Key Questions Answered

What is the study period of the Stevia Market?
The study period for the Stevia Market extends from 2018 to 2028.

What is the growth rate of the Stevia Market?
The Stevia Market is projected to experience a growth rate of 10.06% over the next 5 years.

Which region has the highest growth rate in the Stevia Market?
South America exhibits the highest Compound Annual Growth Rate (CAGR) from 2018 to 2028.

Which region has the largest share in the Stevia Market?
As of 2022, Asia-Pacific holds the highest market share.

Who are the key players in the Stevia Market?
The major companies operating in the Stevia Market include Ingredion Incorporated, Tate & Lyle PLC, Archer Daniels Midland Company, Cargill Incorporated, and Zhucheng Haotian Pharma Co. Ltd.

Original price was: USD 4,750.Current price is: USD 2,850.

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Global Stevia Market Size and Share Analysis 2023-2028

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Global Stevia Market Size and Share Analysis 2023-2028

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