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

The Global Stevia Market was valued at USD 965 thousand in 2024 and is estimated to grow at a CAGR of 5.3% to reach USD 1.6 million by 2034. The rapid expansion is attributed to rising health consciousness, increasing prevalence of lifestyle-related diseases such as obesity and diabetes, and a growing consumer shift toward plant-based and natural food ingredients. Stevia, a natural sweetener derived from the Stevia rebaudiana plant, is widely adopted as a zero-calorie alternative to sugar in food, beverages, and pharmaceutical products.

Stevia’s appeal lies in its ability to offer intense sweetness without impacting blood glucose levels, making it suitable for diabetic and calorie-conscious populations. It is increasingly used in clean-label formulations, especially in beverages, dairy products, snacks, and dietary supplements. The global movement toward reducing added sugar consumption, spurred by initiatives from the World Health Organization and national health authorities, is propelling the incorporation of stevia into new product development across the F&B sector.

Among various glycoside components, stevioside led the market in 2024, amassing revenue of USD 111 thousand, owing to its wide availability, high stability, and established use in traditional and industrial applications. Stevioside is particularly favored in tabletop sweeteners, powdered mixes, and pharmaceutical applications due to its relatively lower cost and distinct licorice-like aftertaste. While other glycosides, such as rebaudioside A, are gaining popularity for their superior taste profile, stevioside continues to dominate bulk manufacturing and B2B applications where cost-effectiveness is a key consideration.

The extraction method remains the most commonly employed production technique in the stevia market with a valuation of USD 711 thousand in 2024, supported by technological advancements in purification and filtration. Traditional water-based extraction, followed by membrane filtration and crystallization, helps preserve stevia's natural attributes while enhancing sweetness and purity levels. Investment in eco-friendly and solvent-free extraction methods is also gaining traction, aligning with global sustainability goals and consumer expectations for natural ingredient sourcing.

The B2B segment accounted for the majority of stevia demand, garnering revenue worth USD 787 thousand in 2024, led by large-scale adoption by food and beverage manufacturers. Multinational brands are reformulating products to meet sugar-reduction targets and consumer demand for natural alternatives. Stevia is widely used in carbonated drinks, flavored water, confectionery, dairy desserts, and nutritional bars. Pharmaceutical and nutraceutical industries are also increasingly incorporating stevia in oral dosage forms, syrups, and health supplements to enhance palatability and consumer appeal.

North America dominated the global stevia market in 2024 with a valuation of USD 357 thousand, driven by strong demand from health-conscious consumers and aggressive product innovation by food and beverage companies. The U.S., in particular, is witnessing robust growth due to regulatory approvals, rising obesity rates, and industry commitment to sugar reduction. Key players are launching stevia-based product lines and forming partnerships with agricultural suppliers to ensure traceable, sustainable sourcing of raw stevia leaves. Government support for non-nutritive sweeteners and growing awareness about the long-term health risks of sugar consumption are also supporting market growth in the region.

Leading companies such as Cargill, PureCircle (a part of Ingredion), Tate & Lyle PLC, GLG Life Tech Corporation, and Stevia Corp. are expanding their portfolios through product innovation, strategic partnerships, and capacity expansions. These players are investing in improved stevia glycoside blends, fermentation-based production technologies, and sustainable farming initiatives. Strategic alliances with beverage giants focus on taste optimization, and investments in research for next-generation sweeteners are expected to further solidify their market positions over the forecast period.