According to a recent report from Reports and Data, the global market for stevia is expected to reach USD 1,344.06 million by 2030, with a revenue CAGR of 8.5% over the forecast period. The growth is being driven by the increasing demand for natural sweeteners in the beverage industry, as well as increased investments in RD in the food and beverage industry.
The Stevia for Bakery Products Market is also benefiting from a growing public awareness regarding healthier sugar alternatives, as well as an increasing incidence of diabetes and obesity. As a high-intensity sweetener, stevia is 200 times sweeter than sucrose and can be used to develop low-calorie products. It is also a natural sweetener that does not have any harmful effects and is used in various food and beverage products, including instant beverages. Additionally, the rising demand for plant-based natural sweeteners is contributing to the growth of the market.
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Top Companies Operating in the Global Stevia for Bakery Products Market Report:
Cargill, Incorporated, Arboreal Stevia, Tate Lyle, PureCircle, GLG Life Tech Corp., Sunwin Stevia International Inc., SW Seed Co., Pyure Brands LLC, Morita Kagaku Kogyo Co., Ltd., and Layn Natural Ingredients.
Restraining Growth of Stevia for Bakery Products Market:
- Competition from Other Natural Sweeteners: There are several other natural sweeteners available in the market such as monk fruit, erythritol, and xylitol that are gaining popularity. These sweeteners could potentially pose a challenge to the growth of the Stevia for Bakery Products Market.
- Limited Awareness and Availability: While the awareness of stevia has been increasing, there is still limited knowledge among consumers about the benefits of using stevia as a natural sweetener. Additionally, stevia products may not be available in all regions, which could limit the market's growth potential.
- Regulatory Restrictions: Stevia has been approved as a food additive in several countries, but there are still some regulatory restrictions in place in some regions. This could limit the availability of stevia-based products and restrain the growth of the market.
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The global Stevia for Bakery Products Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Type Outlook (Revenue, USD Billion; 2019 – 2030)
- Reb A
- Reb M
- Reb D
- Others
Form Outlook (Revenue, USD Billion; 2019 – 2030)
- Extract Powder
- Liquid Extract
- Leaves
Application Outlook (Revenue, USD Billion; 2019 – 2030)
- Beverages
- Bakery Products
- Confectionery Products
- Dairy Products
- Cereal-Based Products
- Tabletop Sweeteners
- Pharmaceuticals
- Cosmetics
- Other Applications
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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