Middle East and Africa Stevia Market
No. of Pages: 93 | Report Code: TIPRE00024951 | Category: Food and Beverages
No. of Pages: 93 | Report Code: TIPRE00024951 | Category: Food and Beverages
The Middle East and Africa 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 Middle East and Africa, South Africa 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 beverages producing sectors has 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 that led to an increased awareness about having a healthy lifestyle. Consumers due to the pandemic are substituting conventional ingredients with healthier alternatives, which is, in turn, increasing the demand for natural sweeteners such as stevia. With an increase in the diet trend of no added sugars and low carbohydrates among consumers during the pandemic has led to an increase in demand for stevia. During the pandemic, there has been rapid surge in demand for less sugary and immunity-boosting products, which is due to people seeking solutions to boost overall health and wellbeing. The COVID-19 pandemic has prompted customers to become health conscious and turn to low-calorie or sugar-free food. Hence, increasing health consciousness and high demand for sugar-reducing solutions among the Middle East and African population due to the COVID pandemic has had a positive impact on the stevia market.
Strategic insights for the Middle East and Africa 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.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 26.55 Million |
| Market Size by 2028 | US$ 44.81 Million |
| Global CAGR (2021 - 2028) | 7.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East and Africa 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 Middle East and Africa is expected to grow from US$ 26.55 million in 2021 to US$ 44.81 million by 2028; it is estimated to grow at a CAGR of 7.8% from 2021 to 2028. The various governments from the region are taking efforts to reduce sugar intake. The various government bodies are promoting healthier consumption habits. In countries like UAE, Oman, Saudi Arabia etc. have announced excise tax on sugar sweetened beverages. These new taxes contributes to the government’s efforts to promote healthier consumption and prevent chronic diseases that are linked to the consumption of specific products containing high sugar that are harmful to human health. All these factors are creating the demand for stevia. Moreover, players operating in the region are introducing products with widened applications. Such factors further drive the market growth in the Middle East and Africa region.
Based on type, the powder segment accounted for the largest share of the Middle East and Africa stevia market in 2020. Based on application, the beverages segment accounted for the largest share of the Middle East and Africa stevia market in 2020.
A few major primary and secondary sources referred to for preparing this report on the Middle East and Africa 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; the Archer-Daniels-Midland Company; S&W Seed Company; and PureCircle.
The Middle East and Africa Stevia Market is valued at US$ 26.55 Million in 2021, it is projected to reach US$ 44.81 Million by 2028.
As per our report Middle East and Africa Stevia Market, the market size is valued at US$ 26.55 Million in 2021, projecting it to reach US$ 44.81 Million by 2028. This translates to a CAGR of approximately 7.8% during the forecast period.
The Middle East and Africa Stevia Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Stevia Market report:
The Middle East and Africa Stevia Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Stevia Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Stevia Market value chain can benefit from the information contained in a comprehensive market report.
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