Market Introduction
The Europe stevia market is highly fragmented, featuring a mix of regional and local players offering diverse solutions for companies investing in the sector. Stevia, a natural, zero-calorie sweetener, is increasingly used to help manage calorie, carbohydrate, and sugar intake. Its liquid form serves as a popular alternative to cane sugar in beverages such as coffee, tea, and smoothies.
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The beverage industry is a key driver of stevia’s growth, with major manufacturers embracing it for product innovation, sugar reduction strategies targeting children, artificial sweetener replacement, and cost efficiency. For instance, in 2017, Coca-Cola launched a soft drink sweetened with stevia, offering reduced sugar content and a distinct flavor profile. Stevia’s unique qualities—zero calories, dental-friendly, pH stability, non-fermenting nature, high solubility, heat resistance, and long shelf life—have boosted its appeal in beverage applications. In some formulations, stevia even acts as a flavor enhancer. Its use is also expanding into alcoholic beverages such as beer and cocktails, further supporting market growth.
The COVID-19 pandemic disrupted stevia production in several parts of Europe, particularly in Russia, due to widespread business closures. The broader slowdown in the food and beverage sector also dampened demand in early 2020. However, the pandemic sparked a significant shift in consumer preferences, increasing awareness of healthy living. As a result, many consumers began replacing conventional sweeteners with natural alternatives like stevia. The rising popularity of low-sugar and low-carbohydrate diets during this period accelerated the demand for stevia. Additionally, the surge in interest in immunity-boosting and health-oriented products has positively influenced the market. Overall, heightened health consciousness among European consumers is expected to continue driving the growth of the stevia market.
Market Overview and Dynamics
The Europe stevia market is projected to grow from US$ 109.88 million in 2021 to US$ 207.46 million by 2028, at a compound annual growth rate (CAGR) of 9.5% during the forecast period. This growth is driven by the presence of established industry players such as Cargill, Incorporated; Ingredion Incorporated; Tate & Lyle PLC; and ADM, who are actively innovating to meet rising demand across various end-use industries.
Leading companies in the region are investing in new product development, strategic mergers and acquisitions, partnerships, and geographic expansion to strengthen their market presence and meet increasing consumer demand for natural sweeteners. For example, in 2021, Tate & Lyle extended its partnership with Codexis to scale up production of two new sweeteners—DOLCIA PRIMA Allulose and TASTEVA M Stevia. This collaboration leverages Codexis’ advanced enzyme technologies to enhance production efficiency and accelerate sugar and calorie reduction through high-quality, cost-effective sweeteners.
Key Market Segments
- By Type: The powder segment held the largest market share in 2020, owing to its ease of use and widespread application across food and beverage products.
- By Application: The beverages segment emerged as the largest application area in 2020, driven by increasing demand for low-calorie drinks and sugar substitutes.
Major Sources and Companies Referenced
Primary and secondary sources used in compiling this report include company websites, annual and financial reports, government publications, and statistical databases. Key companies profiled in the report include:
- Cargill, Incorporated
- Ingredion Incorporated
- Tate & Lyle PLC
- Archer-Daniels-Midland Company (ADM)
- S&W Seed Company
- Morita Kagaku Kogyo Co., Ltd.
- PureCircle
Reasons to Purchase This Report
- Gain a comprehensive understanding of the European stevia market landscape and identify high-potential segments.
- Stay competitive by tracking evolving market dynamics and emerging trends.
- Strategically plan mergers, acquisitions, and partnerships by pinpointing key growth areas.
- Make informed business decisions with in-depth analysis of segment performance and future outlook.
- Access detailed market revenue forecasts segmented by type and application through 2028.
Europe Stevia Strategic Insights
Strategic insights for the Europe Stevia provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Europe Stevia Regional Insights
The geographic scope of the Europe Stevia refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights