Australia Stevia Market Size, Share, and COVID-19 Impact Analysis, By Extract Type (Liquid Extract, Powder Extract, and Leaf), By Application (Dairy Food Products, Bakery Products, Dietary Supplements, Beverages, Packaged Food Products, Confectionery Products, Snacks, Table Top Sweeteners, and Others), and Australia Stevia Market Insights, Industry Trend, Forecasts to 2033.

Australia Stevia Market Insights Forecasts to 2033

• The Australia Stevia Market Size was valued at USD 18.45 Million in 2023.
• The Market Size is Growing at a CAGR of 6.72% from 2023 to 2033
• The Australia Stevia Market Size is Expected to Reach USD 35.34 Million by 2033

The Australia Stevia Market Size is Anticipated to Reach USD 35.34 Million by 2033, Growing at a CAGR of 6.72% from 2023 to 2033

Market Overview

The production, distribution, and consumption of stevia, a natural sweetener made from the Stevia rebaudiana plant that has no calories and no sugar, are all included in the Australia stevia market. It is commonly known that stevia can be used in food and drink products in place of traditional sweeteners. Among other things, the market offers stevia-based products used to sweeten dairy products, beverages, candies, and dietary supplements. The growing demand for natural, healthier, and low-calorie sweeteners is one of the key factors propelling the growth of the stevia market in Australia. Australian consumers are looking for alternatives to sugar and artificial sweeteners due to the rising health concerns associated with obesity, diabetes, and other lifestyle disorders. Stevia is popular in both consumer and business markets because it is a plant-based sweetener that has no calories or carbohydrates and fits in well with the current wellness movement. The growth of the stevia market is also significantly influenced by government initiatives. The Australian government by enacting laws that encourage the use of natural ingredients.

Report Coverage

This research report categorizes the market for the Australia stevia market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Australia stevia market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Australia stevia market.

Driving Factors

The growing desire for natural substitutes for sugar and artificial sweeteners is one of the main factors propelling the stevia market in Australia. People are turning to natural, calorie-free sweeteners like stevia as they become more health-conscious and aware of the risks associated with consuming excessive amounts of sugar. Food and beverage companies have been incorporating stevia into a wide range of products, including drinks, snacks, and dairy products, in response to the growing concern about obesity, diabetes, and other related medical conditions. Additionally, it appeals to Australian consumers' growing interest in clean-label and organic products because stevia is plant-based and naturally sourced.

Restraining Factors

Stevia's high production cost compared to conventional sweeteners limits its market penetration. The labor-intensive nature of stevia production makes it less competitive than sugar or artificial sweeteners, even though it is a healthier option. Despite increased awareness, limited consumer knowledge about stevia's taste profile can hinder wider penetration into some product categories.

Market Segmentation

The Australia stevia market share is classified into extract type and application.

• The powder extract segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

The Australia stevia market is segmented by extract type into a liquid extract, powder extract, and leaf. Among these, the powder extract segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. Powdered stevia extract is widely used due to its ease of use, increased shelf life, and versatility in various applications like food, beverages, dietary supplements, and baked foods. Its portability, storage, and versatility make it a preferred choice among manufacturers.

• The beverages segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the application, the Australia stevia market is divided into dairy food products, bakery products, dietary supplements, beverages, packaged food products, confectionery products, snacks, table top sweeteners, and others. Among these, the beverages segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR during the forecast period. Stevia is increasingly used in various beverage brands as a zero-calorie natural sweetener due to the growing demand for healthier, reduced-calorie beverages, driven by the increasing popularity of stevia as a sugar and artificial sweetener alternative.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Australia stevia market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Stevia Australia
• Pure Circle
• Cargill
• Tate & Lyle
• NutraSweet
• The Green Labs LLC
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Australia, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Australia stevia market based on the below-mentioned segments:

Australia Stevia Market, By Extract Type

• Liquid Extract
• Powder Extract
• Leaf

Australia Stevia Market, By Application

• Dairy Food Products
• Bakery Products
• Dietary Supplements
• Beverages
• Packaged Food Products
• Confectionery Products
• Snacks
• Table Top Sweeteners
• Others