Asia Pacific Stevia Market

Market Introduction

The Asia Pacific stevia market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. With the increasing incidence of diabetes and obesity, consumers are progressively shifting toward natural sweetening products. Obesity is a prevalent disease that leads to diabetes along with other chronic diseases such as hypertension, metabolic syndrome, cardiovascular risk, and retinopathy. The authorities across the region are focusing on a healthier lifestyle, which includes a reduction in the number of calories consumed, especially added sugar. The World Health Organization (WHO) has recommended a decrease in added sugars in the daily lifestyle. To lower the amount of sugar intake, consumers prefer natural sweeteners such as stevia, which helps in weight management by reducing added sugar and calories. Along with this, the consumers are increasingly consuming products having no added sugar. Thus, an increase in consumer inclination toward natural sweeteners is driving the growth of the stevia market.

In Asia Pacific, India reported a huge number of COVID-19 cases, which led to the discontinuation of several business operations, including stevia production activities. Downfall of other food and beverage producing sectors negatively impacted the demand for stevia during the early months of 2020. However, the pandemic has been a reason for major shifts in consumer preferences with an increased awareness about having a healthy lifestyle. Consumers are substituting conventional ingredients with healthier alternatives, which, in turn, is increasing the demand for natural sweeteners such as stevia. An increase in the diet preference for no added sugars and low carbohydrates among consumers has led to an increase in the demand for stevia. During the pandemic, there has been a rapid surge in the demand for immunity-boosting products owing to people seeking solutions to improve their overall health and wellbeing. Hence, increasing health consciousness and high demand for  low sugar alternatives among the population in Asia Pacific has had a positive impact on the stevia market.

Asia Pacific Stevia Strategic Insights

Strategic insights for the Asia Pacific Stevia provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific Stevia Report Scope

Asia Pacific Stevia Regional Insights

The geographic scope of the Asia Pacific Stevia refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The stevia market in Asia Pacific is expected to grow from US$ 204.59 million in 2021 to US$ 362.76 million by 2028; it is estimated to grow at a CAGR of 8.5% from 2021 to 2028. The various government policies also contributes for the growth of the stevia market in the region. For instances, Singapore's Ministry of Health (MOH) recommended a number of policies that could have an impact on the food and beverage industries, including prohibiting the sale of high-sugar pre-packaged drinks and levying a tax on sugar-based beverages. Many players operating in the stevia market are expanding their portfolio of ingredient solutions as well as focusing on expanding capacity and expertise in the region. For instances, PureCircle has expanded its production plant located in Malaysia in order to keep up with the sharp rise in demand for stevia. Additionally, SweeGen Company’s Bestevia Reb M and Bestevia Rebaudiosides (Reb) D and E got regulatory approval by Singapore Food Agency in 2019. So the various food and beverage brands now have access to an expanded portfolio of sugar reduction solutions. Such efforts by the players creates an opportunity for food and beverage manufacturers to develop more sugar reduced products to satisfy Asia Pacific consumer tastes and sweetness expectations. With the growing demand for alternative sweeteners like stevia, Asia Pacific region is becoming the largest consumer for those. Due to all these factors, the market in Asia Pacific is expected to witness a significant growth during the forecast period.

Key Market Segments

Based on type, the powder segment accounted for the largest share of the Asia Pacific stevia market in 2020. Based on application, the beverages segment accounted for the largest share of the Asia Pacific stevia market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the Asia Pacific stevia market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Cargill, Incorporated; Ingredion Incorporated; Tate & Lyle PLC; GLG Life Tech Corp; the Archer-Daniels-Midland Company;

Reasons to buy report

• To understand the Asia Pacific stevia market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Asia Pacific stevia market
• Efficiently plan M&A and partnership deals in Asia Pacific stevia market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Asia Pacific stevia market
• Obtain market revenue forecast for market by various segments from 2019-2028 in Asia Pacific region.

Asia Pacific Stevia Market Segmentation

Asia Pacific Stevia Market -B

y Type

• Whole Leaf
• Powder
• Liquid

Asia Pacific Stevia Market -By Application

• Dairy and Frozen Dessert
• Bakery and Confectionery
• Tabletop Sweetener
• Beverages
• Others

Asia Pacific Stevia Market – By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific

Asia Pacific Stevia Market – Company Profiles

• Cargill, Incorporated
• Ingredion Incorporated
• Tate & Lyle PLC
• GLG Life Tech Corp
• The Archer-Daniels-Midland Company
• Sunwin Stevia International, Inc.
• S&W Seed Company
• Morita Kagaku Kogyo Co., Ltd.
• Zhucheng Haotian Pharm Co., Ltd.
• PureCircle