According to a new report by Expert Market Research titled, ‘Asia Pacific Stevia Market Report and Forecast 2020-2025’, the Asia Pacific stevia market is being driven by the growing global stevia market, which recorded a value of nearly USD 520.30 million in 2018. It is further expected to grow at a CAGR of 8.4% between 2020 and 2025.
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The increasing popularity of sugar-free products with zero-calorie content is aiding the market. In 2017, the sales of food and beverage items that contained zero-calorie sweeteners and were free from artificial sweeteners increased by 16%, globally. In May 2019, Tate & Lyle PLC (LON: TATE), one of the leading players of the market, with its stevia ingredients partner, Sweet Green Fields (SGF), introduced ZOLESSE Natural Flavor, a new innovation which has been formulated to deliver great taste as well as meet consumers’ demand for clean-label ingredients. With the shift in food habits of consumers towards healthy products, the market has seen a further growth. In May 2018, the beverage giant- Coca-Cola (NYSE: KO), launched Coca-Cola Stevia No Sugar, its first-ever product sweetened solely with stevia in New Zealand. The company partnered with PureCircle (LSE: PURE), the leading producer and innovator of stevia ingredients, to launch this 100% stevia-based soft drink, thus, expanding its market to meet the increasing demand for stevia-based products.
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Market Breakup by Extract Type:
- Leaf
- Powder
- Liquid
Market Breakup by Extract Application:
- Food and Beverages
- Oral Care
- Pharmaceutical
- Tabletop Sweetener
- Others
Market Breakup by Extract Region:
- China
- India
- Japan
- Others
Competitive Landscape & Supplier Analysis
- PureCircle Limited (OTCMKTS: PCRTF)
- Cargill, Incorporated
- Archer Daniels Midland Co (NYSE: ADM)
- Ingredion Incorporated
- Tate & Lyle PLC (OTCMKTS: TATYY)
- SteviaPac Food Innovation
- Layn Corporate
- Zhucheng HaoTian Pharm Co.,Ltd
- Sunwin Stevia International, Inc
- Others
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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