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Natural sweeteners market – Stevia
The global diet soda beverage market has been on the decline for the last six years. The last 10 years were hard for producers of diet drinks, especially carbonated ones. In March 2014 the diet soft drink market declined further, by about 7% compared to February’s figures with Coca-Cola recording a 6% decline and PepsiCo hitting almost 7% decline in volume terms.
Stevia’s leaves are remarkably 300 times sweeter than plain white sugar while containing no calories, has been heralded as the answer to changing diet habits. Global stevia sales reached 4,100 tonnes in 2013, 6.5% higher than in 2012. Its market value for 2013 was estimated at $304m.
The growth of Stevia content in products will be additionally fuelled by campaigns targeted at fighting obesity levels, especially in European and North American countries. Moreover the rising demand for healthier, more natural and high quality food and beverages will further help to grow the market for sugar alternatives like stevia.
Food manufacturers are increasingly eager to create products sweetened with Stevia. There are now over 5,000 food and beverage products in the market using Stevia and within these the average size of brand adopting continues to increase. The world’s largest producers of carbonated beverages – PepsiCo and Coca-Cola have started using Stevia to sweeten some of their products. This helps to reduce the caloric content of the drink by about half without the use of artificial sweeteners thus following consumer taste and health trends.
See more about the Stevia market with our Case Study: