Stevia Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2025-2034

The Global Stevia Market was valued at USD 9.65 million in 2024 and is estimated to grow at a robust CAGR of 5.3% to reach USD 16 million by 2034. The rapid growth is attributed to the increasing consumer preference for natural, low-calorie sweeteners as well as rising awareness about the health risks associated with excessive sugar consumption. As a zero-calorie, plant-based sweetener, stevia is quickly becoming a preferred alternative to traditional sugar, especially in food and beverages, as well as in the pharmaceutical and personal care industries.

Stevia, derived from the leaves of the Stevia rebaudiana plant, is gaining global acceptance for its ability to provide a sweet taste without the caloric burden. Its natural origin, coupled with the absence of glycemic impact, makes it an attractive option for health-conscious individuals, diabetics, and those seeking weight management solutions. As global dietary habits shift towards low-calorie and sugar-free products, stevia is poised to become an integral ingredient in a wide range of applications, including beverages, confectioneries, and baked goods.

The extraction segment dominated in 2024 with a 73.8% market share. Water extraction is favored for its simpler process and minimal chemical use, making it a preferred choice in the production of high-purity stevia extracts, particularly for the food and beverage sector. On the other hand, alcohol extraction is used for obtaining stevia extracts with enhanced sweetness levels, which are particularly sought after in pharmaceuticals and personal care applications. The preference for alcohol extraction is anticipated to increase due to the growing demand for concentrated stevia products.

The B2B segment of the stevia market captured 81.6% of the global revenue share. The food and beverages industry remains the largest end-user, accounting for the majority of the market share in 2024. As consumers demand healthier, sugar-free alternatives, manufacturers are increasingly incorporating stevia into their products, including soft drinks, juices, and ready-to-eat meals. Additionally, the pharmaceutical industry is witnessing a surge in stevia usage, as it is utilized as a natural sweetener in medicines, particularly those for diabetics and weight management. The personal care sector is also utilizing stevia in cosmetic products, taking advantage of its anti-inflammatory and antioxidant properties.

North America held 37.1% of the global stevia market in 2024. This region is experiencing rapid growth driven by the increasing awareness about the health risks of high sugar intake and the shift toward healthier, natural ingredients. The United States is leading the market, supported by the favorable regulatory environment and high demand for low-calorie sweeteners in food and beverages. Additionally, the growing trend of clean-label and plant-based products is propelling the demand for stevia. With health-conscious consumers pushing for healthier food and drink options, manufacturers in North America are capitalizing on the growing stevia market to cater to these demands.

Government initiatives and regulatory support for the use of stevia in food and beverages are further boosting market growth. For instance, in North America, the U.S. FDA has approved stevia as a safe sweetener, and its inclusion in food products is strictly regulated to ensure quality and consumer safety. Such regulatory backing, combined with the increasing consumer demand for healthier alternatives, is facilitating the global expansion of the stevia market.

Leading players in the stevia market, including Stevia First Corporation, PureCircle, Cargill, Inc., and Archer Daniels Midland Company, are expanding their market positions by developing innovative stevia-based products and enhancing production efficiency. These companies are focusing on partnerships, acquisitions, and technological advancements to strengthen their product offerings and expand their geographical footprint. The development of new stevia-based formulations with enhanced taste profiles is one of the key strategies to meet evolving consumer preferences.