New York, NY -- (SBWire) -- 12/03/2014 --Stevia is a natural, plant based, zero calorie and high-intensity sweetener. Stevia is a shrub, whose leaves are used as a sugar substitute. Stevia Rebaudiana is the most widely used variety of this shrub and it is mostly grown in Brazil and Paraguay. Around 40 years ago, the commercialization of stevia began when Japan started consuming it as a sweetening agent. Stevia remains stable under heat and thus can be utilized in processed foods. It is 200 to 300 times sweeter than sugar. Stevia measures zero on the glycemic index (a measurement carried out on carbohydrate-containing foods to measure their impact on our blood sugar), which is important in the diabetic market and benefits from growing consumer understanding of the value of low glycemic diet. Growing consumer preferences for all-natural products, together with increasing rate of obesity and diabetes, have created a huge demand for stevia. Due to its growing popularity as 100% natural sweetener, Stevia is giving tough competition to other high-intensity sweeteners such as aspartame, saccharin and sucralose. According to WHO estimates, stevia is expected to replace 20-30% of all dietary sweeteners in the future.
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On the basis of functional ingredients, the stevia market is bifurcated into two types: Rebaudioside A (Rebiana) and Stevioside. On the basis of type of extracts, the stevia market is segmented into three types: stevia leaves, powdered extracts and liquid extracts. Based on the application, the stevia market can be segmented into five types: food industry, beverages industry, confectionary, pharmaceuticals, and others. The use of stevia in beverage industry has been growing rapidly in recent years. Stevia have become more popular in variety of beverages product especially in soft drinks, sports drinks and flavored and functional water, as consumers aim to consume less sugar. Consumers increasing interest towards low calorie beverages has led major beverage companies to develop products with such sweeteners. For instance, PepsiCo is using stevia in its SoBe Lifewater drinks and Tropicana orange juice (Trop50).
In terms of geographic, Asia Pacific and North America dominates the global stevia market due to Increasing diabetic patients, rising obese population, changing lifestyle, health and nutritional concerns, followed by Europe.
Increasing diabetic patients, rising obese population, changing lifestyle, health and nutritional concerns, and growing urbanization are the major factors for the growth of stevia market. According to the WHO, in 2010, the number of overweight children under the age of five was around 42 million globally. Obese people are more likely to develop diseases such as diabetes and cardiovascular diseases at young age. High obesity rate among children is a major concern for parents, which compels them to keep their children away from high calorie food and opt for low calorie food, which indirectly drives the market for stevia. According to WHO, in 2013 around 347 million people globally had diabetes. The number of people with diabetes is highly increasing in both developed and developing countries. Among developing countries, India and China have the largest number of diabetic patients. In the developed countries, U.S. has the largest number of diabetic patients. According to World Health Statistics 2012, one in 10 adults suffers from diabetes globally. With growing awareness about obesity and diabetes, people have started to choose low calorie food over high calorie food. For instance, in May 2010, 16 of the world's biggest food and beverage companies (members of Healthy Weight Commitment Foundation) participated in calorie reduction pledge, such as, the Coca-Cola Company and Kraft Foods, promised to remove 1 trillion calories from the U.S. marketplace by 2012 and 1.5 trillion by 2015. According to researchers of University of North Carolina, as of 2012, these companies sold 6.4 trillion fewer calories. This kind of voluntary efforts by the companies is also a result of increasing demand of stevia.
Some of the major companies operating in the stevia market are PureCircle, GLG Life Tech, The Coca-Cola Company, Cargill Inc., and PepsiCo.
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Key points covered in the report:
1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2) The report covers geographic segmentation
North America
Europe
Asia
RoW
3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4) The report provides company profiles of some of the leading companies operating in the market
5) The report also provides porters five forces analysis of the market.
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Stevia Market: Global Industry Analysis and Forecast to 2020
Persistence Market Research Pvt. Ltd is released new forthcoming report on title "Stevia Market: Global Industry Analysis and Forecast to 2020".