Europe Stevia Market Insights Forecasts to 2033

• The Europe Stevia Market Size was valued at USD 83.9 Million in 2023.
• The Market Size is Growing at a CAGR of 12.87% from 2023 to 2033
• The Europe Stevia Market Size is Expected to Reach USD 281.6 Million by 2033

The Europe Stevia Market is Anticipated to Reach USD 281.6 Million by 2033, growing at a CAGR of 12.87% from 2023 to 2033.

Market Overview

Stevia comes from the leaves of the stevia rebaudiana plant in South America and is used as a sugar substitute. The leaves contain steviol glycosides, which provide a highly concentrated sweet taste. Stevia is significantly sweeter than table sugar, about 200 to 400 times, and is a non-nutritive sweetener, meaning it contains no calories, carbohydrates, or artificial ingredients. It is commonly used to sweeten beverages such as tea, coffee, cappuccino, and lattes. Stevia leaf is available as a dietary supplement and is considered safe for consumption in moderation. According to the Joint FAO/WHO Expert Committee on Food Additives, the acceptable daily intake for steviol equivalents is 4 milligrams per kilogram of body weight. Additionally, European Union Regulation (EU) 2016/1814 recognises 11 steviol glycosides, stevioside, rebaudiosides A, B, C, D, E, F and M, steviolbioside, rubusoside, and dulcoside. According to this guideline, any commercial ingredient can be at least 95 percent of any combination of the recognised glycosides. A maximum of 5 percent non-steviol glycoside material is also legalized.

Report Coverage

This research report categorizes the market for the Europe stevia 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 Europe 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 Europe stevia market.

Driving Factors

The stevia industry is being fueled by various factors. With a growing focus on health, consumers are seeking healthier food and beverage options, such as low-calorie and sugar-free drinks, as well as natural sweeteners. The increasing popularity of plant-based diets is leading to a higher demand for natural sweeteners like stevia. Consumers' confidence in the safety and efficacy of stevia has been bolstered by regulatory approvals and endorsements from health authorities. Some companies are highlighting sustainable and ethical practices in the cultivation, processing, and sourcing of stevia. The market is growing due to the rising demand for dietary foods and beverages. Ongoing advancements in product development are driving the stevia market forward.

Restraining Factors

The stevia market faces growth limitations due to factors such as some consumers perceiving stevia to have a distinct aftertaste, potentially restricting its widespread use. Additionally, the higher production cost of stevia compared to traditional sweeteners can affect its market reach. Furthermore, stevia's potential side effects, including kidney damage, gastrointestinal problems, and allergic reactions, serve as constraints to the growth of the stevia market.

Market Segmentation

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

• The liquid segment is expected to hold the largest market share through the forecast period.

The Europe stevia market is segmented by extract type into whole leaf, powdered, and liquid. Among these, liquid segment is expected to hold the largest market share through the forecast period. The convenience and precision in controlling sweetness levels that liquid stevia products offer make them suitable for a wide range of applications, including beverages, smoothies, baked goods, and desserts. The liquid form allows for easy mixing and blending, contributing to increased demand in this segment.

• The food & beverages segment is expected to dominate the Europe stevia market during the forecast period.

Based on the application, the Europe stevia market is divided into food & beverages, pharmaceuticals, and others. Among these, the food & beverages segment is expected to dominate the Europe stevia market during the forecast period. As efforts to combat increasing obesity rates and sugar-related health issues are implemented by governments and public health organizations, there is a rising need for low-calorie and sugar-free options in the food and beverage industry.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Europe 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 Corp
• Evolva Holding SA
• GLG Life Tech Corp
• The Coca-Cola Company
• Cargill
• Ingredion Inc
• Tate & Lyle PLC
• PepsiCo Inc
• Others

Key Target Audience

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

Recent Developments

• In February 2024, the joint venture between Cargill and dsm-firmenich, Avansya has secured positive safety opinions for its EverSweet stevia sweetener from the European Food Safety Authority (EFSA) and the UK’s Food Safety Authority (FSA).

Market Segment

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

Europe Stevia Market, By Extract Type

• Whole leaf
• Powdered
• Liquid

Europe Stevia Market, By Application

• Food & Beverages
• Pharmaceuticals
• Others