MARKET INTRODUCTION
Stevia is a sugar substitute derived from the leaves of Stevia rebaudiana, a plant species native to Brazil and Paraguay. While truvia is a natural sweetener jointly developed by Cargill Inc. and the Coca-Cola Company. It is manufactured from a blend of ingredients, which include erythritol, natural flavors, and rebaudioside A, a sweet compound isolated from the stevia plant. truvia is seen as a healthy substitute to table sugar as it has negligible calories and has no effect on insulin and blood sugar levels.
MARKET DYNAMICS
Stevia can be 200-350 times sweeter than table sugar while having very low-calorie content. The ability of stevia and truvia to impart sweetness to food and beverages without increasing blood sugar levels has led to high demand for it in the food processing industry. The rising cases of type 2 diabetes and obesity across developed, as well as developing countries of the world, have prompted many consumers to consider natural sweeteners with low-calorie content. The need to control sugar levels among the diabetic population has led to significant demand for stevia and truvia sugar substitutes. Moreover, the increasing demand for low-calorie foods from fitness enthusiasts and calorie-conscious individuals is likely to generate significant demand for stevia and truvia sweeteners in the forecast period. The growing awareness about healthy sugar substitutes among the masses through advertisements and promotions is anticipated to drive the demand for stevia and truvia in the forecast period.
MARKET SCOPE
The "Global Stevia and Truvia Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the stevia and truvia market with detailed market segmentation by extract type, application, and geography. The global stevia and truvia market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading stevia and truvia market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global stevia and truvia market is segmented on the basis of extract type and application. On the basis of extract type, the stevia and truvia market is segmented into, whole leaf, powdered, and liquid. On the basis of application, the market is bifurcated into, dairy, bakery and confectionery, beverages, convenience foods, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global stevia and truvia market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The stevia and truvia market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the stevia and truvia market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the stevia and truvia market in these regions.
MARKET PLAYERS
The reports cover key developments in the stevia and truvia market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from stevia and truvia market are anticipated to lucrative growth opportunities in the future with the rising demand for stevia and truvia in the global market. Below mentioned is the list of few companies engaged in the stevia and truvia market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the stevia and truvia market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ARCHER DANIELS MIDLAND COMPANY
- CARGILL, INCORPORATED
- CUMBERLAND PACKING CORP.
- INGREDION INCORPORATED
- PYURE BRANDS LLC
- SUNWIN STEVIA INTERNATIONAL, INC.
- TATE AND LYLE PLC
- THE TRUVIA COMPANY, LLC
- WHOLE EARTH SWEETENER CO., LLC
- WISDOM NATURAL BRANDS
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.