Asia-Pacific Stevia Market - Growth, Trends, and Forecasts (2017 - 2022)
Stevia is a non-caloric plant-based sweetener. It is made from a plant called Stevia rebaudiana, which is grown for its sweet leaves. Stevia is also commonly known as sugar leaf or sweet leaf. The Asia- Pacific Stevia market is expected to grow at a CAGR of XX.XX % during the period 2017-2022. Manufacturers are increasingly exploring alternative sweeteners which will enable a reduction in calorific content, without sacrificing taste. Increasing awareness of the health benefits of low calorie consumable products is a major catalyst.
Many private label companies have ventured forth into the stevia market in Asia- Pacific (excluding Japan) to harness the opportunities that exist here. The ingredient has a broad acceptance in this region especially in Japan, China, and South Korea as stevia-based natural sweeteners have been a part of the diet of consumers in these countries for a substantial period. Consumers in this region are also becoming more aware about stevia as a sugar substitute, creating additional growth opportunities in this space. The shifting lifestyle patterns in Asia- Pacific and increasing sedentary lifestyle observed increased use of Stevia. China and India have the largest number of diabetic patients. With a growing number of diabetics and calorie-watching consumers, the demand for sugar alternatives has exhibited an unprecedented rise. Major threat is the availability of the other low calorie sweeteners. Food & beverage industry along with healthcare and personal care industries create opportunities of a prospering market for Stevia.
The Stevia market is segmented on the basis of type into powder, liquid and leaf. Stevia is widely used in the powdered form, hence this segment is the biggest and the fastest growing in the stevia market. It is segmented by application into food, beverages and pharmaceuticals. Stevia is widely used in a variety of food products such as foods, confectionery, desserts, baked foods, snack foods, and jellies, as it can be easily incorporated and imparts sweetness to the product with very low calories.
Asia- Pacific (excluding Japan) holds enormous opportunities for Companies in Stevia Market. Asia- Pacific has more than 25% share of the global stevia market. China produces millions of tons of stevia every year and has emerged as the leading stevia exporter globally. The region is the largest consumer market for Stevia. In Asia- Pacific, Japan and China are the largest consumers. Emerging economies such as India, Thailand, Indonesia, and Malaysia are expected to be the key markets for the product owing to the growing food & beverage industry.
The market is highly fragmented because of the presence of numerous small and large vendors. Most of the companies engage in aggressive promotions of stevia-based products in order to improve product positioning and visibility. The demand for low-calorie beverages such as juices, flavored water, sports drinks, energy drinks, and soft drinks is driving vendors to manufacture products that are not only unique and attractive but also healthy. This is leading to a tough competition in the market with vendors competing on the basis of price, quality, product differentiation, distribution, and promotion. Some of the major players in the market include-
Morita Kagaku Kogyo Co., Ltd
Zhucheng HaoTian Pharm Co.,Ltd.
Ganzhou Julong High-tech Industrial Co., Ltd
Nutra Food Ingredients, LLC
Key Deliverables in the Study
Market analysis for the Asia- Pacific Stevia market, with region-specific assessments and competition analysis on a regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a regional scale.
Extensively researched competitive landscape section with profiles of major companies, along with their market share.
Identification and analysis of the macro and micro factors that affect the Asia- Pacific Stevia market on regional scales.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insight about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is growing and also identify the regions that are still untapped.
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