Demand for stevia in Western Europe is anticipated to exhibit a promising CAGR of 7.5% through 2033. Stevia sales in this region is expected to grow considerably, from USD 157.4 million in 2023 to around USD 324.5 million by 2033.
The growing awareness of health and wellness, coupled with the rising prevalence of diabetes and obesity concerns, is propelling the stevia industry forward in Western Europe. Consumers are actively seeking a natural, zero-calorie sugar substitute in response to these trends.
Attributes | Key Statistics |
---|---|
Expected Base Year Value (2023) | USD 157.4 million |
Anticipated Forecast Value (2033) | USD 324.5 million |
Estimated Growth (2023 to 2033) | 7.5% CAGR |
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Growing Demand for Clean-labelled Products fuels Stevia Industry Expansion in Western Europe
According to World Heart Foundation, 13% of the global adult population is living with obesity and diseases associated with them. This has significantly increased the demand for healthy alternatives for sugar in the global landscape. Stevia, derived from the leaves of the Stevia rebaudiana plant, has emerged as a preferred sweetening agent due to its natural origin and the absence of synthetic additives.
The demand for stevia in Western Europe is also experiencing a substantial surge due to its natural and untreated form. With the rise in health conscious population around the world, there has been an exponential growth in the consumption of organic and natural food products. With its ability to provide sweetness without contributing to calorie intake or affecting blood sugar levels, stevia becomes an attractive alternative. Health-conscious individuals aiming to manage their weight are increasingly drawn to this natural sweetener.
On the basis of form, the stevia industry can be segmented into powdered and liquid extract, with the former dominating the Western European landscape with a whopping share of 75.40%.
The demand for the powdered form of stevia has been following an upward trajectory as it is highly versatile and dissolves easily in both hot and cold liquids. This makes it convenient for various culinary applications and can be easily incorporated into numerous delicacies, especially in the baking industry.
Households can easily measure and adjust the amount of powdered stevia to achieve the desired sweetness without compromising the overall texture or structure of the final product.
Attributes | Details |
---|---|
Form | Powdered |
Value Share in 2023 | 75.40% |
Based on the product type, conventional stevia dominates the Western European landscape, holding an industry share of 70.50%.
Conventional stevia has gained popularity in the Western European region as it is perceived as a more natural sweetening option compared to some of its counterparts, such as highly refined or chemically modified stevia extracts.
Clean-label trends and the emphasis on transparency and simplicity in food and beverage ingredient lists have also elevated the preference for conventional stevia. Being minimally processed makes conventional stevia the perfect choice for health-literate consumers.
Attributes | Details |
---|---|
Product-type | Conventional |
Value Share in 2023 | 70.50% |
Countries | Value CAGR from 2023 to 2033 |
---|---|
Netherlands | 6.30% |
France | 5.60% |
Italy | 4.80% |
Germany | 3.50% |
The United Kingdom | 2.80% |
The stevia industry in the Netherlands is anticipated to develop at a significant rate of 6.30% CAGR for the forecast period of 2023 to 2033. The Netherlands has witnessed a growing trend of health-conscious consumers seeking alternatives to traditional sweeteners. Stevia's natural origin, low-calorie profile, and diabetic-friendly attributes make it an appealing choice for individuals striving for healthier dietary options.
The France stevia industry is expected to showcase remarkable growth during the forecast period from 2023 to 2033, with a rate of 5.60% CAGR. The consumer base in France places significant emphasis on natural and clean label products. Stevia, being a plant-derived sweetener, suits their demand for ingredients perceived as wholesome and minimally processed. This contributes to its increased acceptance in the industry.
The stevia industry in Italy is anticipated to inflate at a significant rate of 4.80% CAGR for the forecast period of 2023 to 2033. Italy, like many other Western countries, is part of the global health and wellness movement. As consumers become more health-conscious and informed about the impact of their dietary choices, the demand for healthier sweetening options, such as stevia, has seen a notable increase.
The Germany stevia industry is expected to showcase remarkable growth during the forecast period from 2023 to 2033, with a rate of 3.50% CAGR. The influence of global culinary trends, including a move toward reduced sugar consumption, has substantially impacted the industry in Germany. Stevia, as a sweetening option, allows for sugar reduction without sacrificing overall sweetness.
The stevia industry in the United Kingdom is anticipated to develop at a significant rate of 2.80% CAGR for the forecast period of 2023 to 2033. As consumers become more educated about the benefits of stevia, including its natural origin and low-calorie properties, there is a growing willingness to choose stevia-sweetened products over those containing traditional sugars or artificial sweeteners.
The competitive landscape for stevia in Western Europe is filled with numerous players, and their consumer base is spread across the continent. There are still some concerns regarding the aftertaste and texture of stevia compared to traditional sugars. Despite these challenges, key players in the industry have been successful in promoting their products to a wider consumer base. Small-sized companies also exist in this ecosystem, catering to the demands of local consumers and businesses.
Recent Developments in the Stevia Industry in Western Europe
Attribute | Details |
---|---|
Estimated Valuation (2023) | USD 157.4 million |
Projected Valuation (2033 ) | USD 324.5 million |
Anticipated CAGR (2023 to 2033 ) | 7.5% CAGR |
Historical Analysis of Demand for Stevia in Western Europe | 2018 to 2022 |
Demand Forecast for Stevia in Western Europe | 2023 to 2033 |
Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
Key Countries Analyzed While Studying the Opportunity Aspects of Stevia in Western Europe | United Kingdom, Germany, France, BENELUX, Sweden, Norway, Denmark, Italy, Spain |
Key Companies Profiled in the Analysis of Stevia in Western Europe | Cargill; Ingredion; Tate & Lyle; Archer Daniels Midland (ADM); Südzucker; Givaudan; PureCircle; Evolva; Stevia Natura (France); OVIATIS (France); Biostevera (Spain) |
The anticipated CAGR for stevia adoption in Western Europe through 2033 is 7.5%.
Demand for stevia in Western Europe is likely to reach USD 324.5 million by 2033.
Conventional Stevia is more common in Western Europe than its counterparts.
Powdered form of Stevia is more in demand in Western Europe.
As of 2023, the overall valuation of the stevia industry in Western Europe is USD 157.4 million.
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