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(Health-NewsWire.Net, October 01, 2021 )
Market Overview:
Steviol glycosides are the sweet substances extracted from the stevia rebaudiana plant, that is sweet in taste and forms the primary component portion of sugars marketed under the generic name stevia.
It is a white powder that has been adopted as a non-caloric sweetener which is known to be 300 times sweeter than sugar. As steviol is heat stable, pH stable, fermentable, and does not produce a glycemic reaction when eaten, it makes it a good replacement for sugar especially for diabetics and those who need to keep their carbohydrate intake under control.
Thus, with the growing diabetic population, the growth of the steviol glycoside market is highly anticipated.
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Market Dynamics:
The growing demand of stevia as a substitute for sugar is driving the growth of the market
The market for sweeteners has risen in recent decades as processed foods account for a significant portion of sugar consumption. As a result, the World Health Organization recommends that free sugar intake in the diet should be limited to less than 10% of the total energy required and less than 5% for additional health benefits. This led to the usage of sugar substitutes like stevia in the food industry.
As a plant-based sugar substitute with no calories, stevia extracts represent the perfect and unprecedented opportunity for consumers who looking for calorie-free food. Thus, the growing demand for sugar substitutes is supporting the growth of the steviol glycosides market. According to International Diabetes Federation, around 463 million adults were living with diabetes and caused 4.9 million deaths while 374 million people are at the risk of developing Type 2 diabetes, worldwide, as of 2019 studies. Thus, countries with a high diabetic population can serve as a great opportunity for the steviol glycosides market.
Stevia sweeteners are a bit expensive than sugar and many other artificial sweeteners, which can be a hindrance to low-income countries. Moreover, bloating, nausea, and gas are some of the side effects caused due to consumption of overdosage of stevia. In some cases, Steviol can cause a severe allergic reaction called anaphylaxis, though this occurs rarely. Symptoms of allergic reactions are hives dizziness, wheezing, shortness of breath, general weakness, or having difficulty in swallowing shortly after intake of steviol glycoside.
Segmentation:
By Type
• Reb-A series
• Stevioside series
• Glycosyl series
• Others
By End-Use
• Food
• Beverages
• Pharmaceuticals
• Chemicals
• Others
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Geographical Penetration:
Asia-Pacific dominates the global steviol glycosides market owing to the high diabetic population in Japan
Asia-Pacific holds the largest share of the market. Japan is one of the major consumers of stevia. The consumption of stevia increased in these countries because of the high diabetic population and large geriatric population under the threat of diabetics. In Japan, stevia is used in soft drinks and other food products, as sweeteners.
According to Greenvalley Stevia, a stevia producer and manufacturer company based in India, Japan is the major consumer of stevia with the country using 40% of stevia sweetener among all sweeteners available.
Competitive Landscape:
The global steviol glycosides market is highly fragmented. Some of the players in the steviol glycosides market include PureCircle Ltd., Tate & Lyle, Sunwin Stevia International Inc., Cargill Incorporated, GL Stevia, GLG Lifetch Corporation among others. The major players in the steviol glycosides market are using various internal and external strategies to increase their footprint in the global market.
Cargill Incorporated and Koninklijke DSM N.V. declared collaboration effort for the development of sweet-tasting chemicals for use in food and beverage, pharmaceutical market, for example, steviol glycosides Rebaudioside M and Rebaudioside D by fermentation process resulting in larger quantities of the compounds as compared to the traditional methods giving food and beverage manufacturers an even more scalable, sustainable and low-cost solution than if these same molecules were extracted from the stevia leaf. In 2017, Cargill-DSM invested in a joint venture with Avansya to start the production of EverSweet™ stevia sweetener, to cater to the demand for sugar substitutes.
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DataM Intelligence
Sai Kiran
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