Stevia is a natural sweetener extracted from a herbal plant species called Stevia Rebaudiana. Stevia contains rebaudioside-A and stevioside, which are responsible for imparting a high degree of sweetness.
High degree of sweetness coupled with no side effects is one the prime reason for the growth of the market. Moreover, South American countries like Paraguay and Brazil, people have used its leaves for over hundreds of years. Besides sweetening the food, the leaves were traditionally used to treat burns, stomach problems, other ailments, etc.
These properties are expected to help drive consumption of stevia market during the forecast period.
Based on the Extract Type, the global stevia market is bifurcated into Liquid, Leaf, and Powder. Among all others, Powder stevia dominated the market due to its flexibility in storage, packaging, and transportation. Stevia extract powders vary in taste, sweetness, and cost based on their degree of refinement and the quality of the stevia plant. Some of the powder stevia extracts have more aftertaste than the others.
Furthermore, stevia market is segmented based on end user such as Food and Beverage industry, Pharmaceutical Sector, and Other. Among all others, Food sector dominated the market. The demand for stevia is majorly driven by the growth of the food industry across developing regions such as North America and South America.
Geographically, the global stevia market has been segmented into North America, Asia-pacific, Europe, South America, and The Middle East & Africa. Among all the regions, North America has dominated the market followed by South America where demand for natural sweeteners made from herbs is growing robustly especially in food and beverages.
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