MarketLine Blog

Natural sweeteners market – Stevia

The global market of diet soda beverages 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 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.
  • Companies have been trying to change consumers’ perceptions of diet soft drinks for the last years, and one of the solutions may be found in natural sweeteners with zero or close to zero calories.
  • Consumers are changing habits, being more conscious about keeping fit and above all about their health, increasingly opting for low-calorie drinks and this will guarantee the diet soft drinks market’s steady growth.
  • The value of the Stevia market was estimated to be worth $304m in 2013 and taking into consideration the current rate of growth, stevia sales should rise to about $410m by 2016, meaning that this market will grow with staggering CAGR of 10.5% between 2013 and 2016.

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.

Blog - 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 Stevia market and products containing Stevia on MarketLine website: http://advantage.marketline.com/

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