The alarming increase in diabetes among varying age groups has been a major cause of global concern. According to the World Health Organization, about 422 million individuals at present are suffering from diabetes and this deadly disease has caused over 1.5 million deaths. Hence with time, we have seen an upsurge of healthier natural alternatives like stevia extract take center stage. The growing demand for healthier products among consumers to lead a healthy lifestyle has resulted in favorable growth of the stevia market.
In 2021 the stevia market was valued at US$ 539.68 million and if the figures continue to hold their pace, by 2028 it is projected to reach US$ 965.82 million. The stevia market has increased rapidly over the last decade or so, and the growth is projected to continue in the coming years. Industry experts forecast an annual growth rate of 8-9% in the next 6-7 years, so the outlook is very promising. With these dynamics in place, stevia is one of the fastest-growing sweeteners, one that scores ahead of its counterparts.
The global stevia market is being driven by the increasing number of food and beverage companies that have been seeking to reduce sugar in their product lines due to the rising consumer demand. Another compelling reason for the sudden boom in the stevia market is the implementation of a sugar tax on food and beverages. Fiscal policies to fight obesity through the taxation of unhealthy foods and sugar-sweetened beverages have gained considerable traction in recent years.
The global stevia market is finding further impetus for its growth even in the non-F&B sector as well. The pharmaceutical sector, is now emerging as a fast-growing application sector for stevia extract. Given that the global stevia market is being driven by rising health concerns and consumer awareness about drinks with high sugar content, there has been a stipulated rise is stevia manufacturers and suppliers. Arboreal Stevia, a renowned stevia extract supplier in India, is a good example of the same.
Stevia’s continuing success can be widely attributed to stevia extracts which have an improved taste profile and reduced costs. Given that taste continues to play a pivotal role when it comes to which sweetener product manufacturers choose, stevia extract suppliers like Arboreal Stevia have made long strides in this regard. The focus is on making their ingredient lists simple and easy to understand so that they can be categorized as clean labels rather than natural labels. In light of this trend, it's no wonder that magical sweeteners should continue to find favor in the F&B sector in the days to come.
FRONTRUNNERS OF INNOVATION
At Arboreal stevia, the R&D team is focused on making clean high-quality stevia extract much more accessible for markets around the world. Its mission is to bring the best stevia solutions closer to manufacturers, product reformulators, and people in general and to transform stevia’s current position as a high-cost, niche, luxury sweetener into an affordable and widely used one. To know more about their customized stevia solutions, visit their website today.