Cibi e Bevande
Stevia Market size worth $ 1,635 Million, Globally, by 2030 at 9.1% CAGR: Verified Market Research®
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The market growth is driven by the increase in the customer demand for natural sugar alternatives, zero-calorie beverages, and healthier foods incorporating natural sugar substitutes due to rising disposable incomes, rising health concerns, and consumer awareness about food and lifestyle. Also, Stevia demand is expected to rise due to an increase in consumer preference for plant-based products. In addition, The market is also driven by factors such as the positive outlook for stevia as a natural sweetener due to rising demand for dietary food and an increasing number of innovative product developments for stevia and stevia-based products that are cost-effective and find application in a wide range of food & beverage applications thus resulting in the increasing number of food and beverage companies.
Furthermore, the factors such as government schemes, and growing innovations taking place in the applications are expected to aid the market growth. However, the price volatility of the stevia leaf is a major impediment to the growth of the stevia industry. Nonetheless, Stevia leaf availability is affected by seasonal fluctuations and crop yield. The decrease in stevia cultivation is expected to have an impact on the growing demand for stevia, resulting in a supply shortage and higher prices during the forecast period.
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