Stevia is a non-cariogenic and zero-calorie natural sweetener that holds a low glycemic index (GMI). It offers a wide range of advantages, particularly in managing weight, controlling blood pressure, and managing diabetes & obesity. Several beverage companies use stevia in their beverage products. Stevia drinks are high-intensity beverages.
The alarming risks of cardiovascular and diabetes disorder all around the globe is one of the primary reasons fueling the adoption rate of stevia drinks globally driving the global stevia drinks market. Moreover, the growing pressure on manufacturers to lower the amount of sugar in beverages is also likely to scale up the demand for stevia drinks. It is used in a large number of energy drinks, ready-to-drink beverages, fruit juices, soft drinks, flavored water, carbonated drinks, and several others. People all around the globe are leaving their addictive drinking habits with the help of healthy drinks like stevia, which is likely to create several lucrative growth opportunities in the global stevia drinks market over the forecasted period. The growing research and development activities by manufacturers to launch distinct products in the region to widen their customer base will also support the market growth.
The global stevia drinks market can be segmented into type, application, and region.
By type, the market can be segmented into soda, fruit juices, and others.
By application, the market can be segmented into commercial and household.
North America accounts for the largest share in the global stevia drinks market due to the growing awareness among people regarding the health benefits of stevia. Also, the presence of prominent market leaders in the region making efforts to penetrate the product further into the community is likely to accentuate the demand for stevia drinks over the forthcoming years.
Asia Pacific is expected to register a significant growth rate during the forecasted period due to the growing disposable income of the people in the region. Also, the rapid urbanization and growing prevalence of health disorders like cardiovascular and diabetes are likely to further scale up the consumption of stevia drinks in the region.
Some of the significant players in the global stevia drinks market are PepsiCo, Inc., Sunwin Stevia International, Inc., GLG Life Tech Corp., Ingredion, Inc., Tate & Lyle PLC, Stevia Corporation, Evolva Holding SA, Archer Daniels Midland Company, PureCircle Limited, and Cargill Corp. To cite, Coca-Cola in 2019 has introduced more than 20 new brands and 60 SKUs in Canada across their portfolio, which includes a number of no- and low-calorie beverages.
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