The steviacane market is expected to reach US$ 101.0 million in 2024 and US$ 239.0 million in 2034. The market is anticipated to expand at a CAGR of 9.0% over the forecast period 2024 to 2034.
Steviacane Market Trends and Analysis
Steviacane aligns with consumers' rising inclination toward natural and plant-based substances. Stevia, a plant-based sweetener, satisfies consumers' need for clean-label goods free of artificial ingredients.
The launch of steviacane is a response to more considerable wellness and health trends as people look for better substitutes for artificial sweeteners and processed sugars. Steviacane, which is regarded as a natural sugar alternative, is included to satisfy these health-conscious customers’ demands.
Similar to regular sugar, steviacane is designed to be flexible and utilized in several culinary applications. It retains flavor, whether added to drinks, baked goods, desserts, or other culinary products.
Manufacturers of steviacane frequently portray their product as a link between the demand for healthy sweetening options and the want for sweetness. Marketing campaigns highlight its natural source, lower calorie count, and the well-known flavor of cane sugar. Consumer education to convey the product's advantages is necessary to adopt steviacane successfully.
| Attributes | Key Insights |
|---|---|
| Estimated Global Steviacane Market Size (2024E) | US$ 101.0 million |
| Projected Steviacane Market Value (2034F) | US$ 239.0 million |
| Value-based CAGR (2024 to 2034) | 9.0% |
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The estimated worth of global steviacane market value is US$ 101.0 million in 2024. The market is expected to surge at a CAGR of 9.0%, reaching a valuation of US$ 239.0 million in 2034. Due to the growing demand for natural and healthy sugar alternatives, manufacturers have been allowed to offer specialized products to consumers.
The global steviacane market has experienced remarkable development from 2019 to 2023, reflecting increased attention to overall mental health and well-being. Over the years, a handful of factors have driven the rising interest in steviacane.
One significant factor is the growing prevalence of diabetes among individuals, which surged the demand for sugar-free products. Factors such as high demand for natural and healthy sugar alternatives would influence the global steviacane market.
As more individuals become conscious of the adverse health effects of excessive sugar consumption, they seek alternatives that provide sweetness without the associated drawbacks. Steviacane, a natural sweetener with fewer calories, is well-positioned to meet this demand.
Principal Consultant
The section covers a comparative view of three businesses similar to the steviacane market. As per estimations, the steviacane market would lead out of the three businesses.
The steviacane market is projected to surge at a CAGR of 9.0% by 2034. The clean label movement, where customers are increasingly interested in products with simple and transparent ingredient lists, is influencing the steviacane market.
The The stevia market is expected to rise at a CAGR of 6.2% through 2034. The surging demand for low-calorie sweetening alternatives from health-conscious consumers is anticipated to aid growth in the market.
The organic stevia market is projected to surge at a 3.6% CAGR through 2034. The desire for healthy lifestyles and clean-label products has contributed to the demand for organic stevia as a natural sweetener.
Steviacane Market:
| Attributes | Steviacane Market |
|---|---|
| CAGR (2024 to 2034) | 9.0% |
| Growth Factor | Changing consumer habits and growing concerns toward healthy products would push the demand. |
| Key Trends in Steviacane Market | There is an increasing focus on sustainability and low-calorie diets. |
Stevia Market:
| Attributes | Stevia Market |
|---|---|
| CAGR (2024 to 2034) | 6.2% |
| Growth Factor | Increasing demand for sugar-free diets and healthy lifestyles would fuel growth. |
| Opportunity | The government implements several rules and approvals to provide high-quality and safe stevia to consumers, which would create new opportunities. |
| Key Trends | The food & beverages sector is rapidly fueling the demand for stevia products in snacks, soft drinks, and baked products. |
Organic Stevia Market:
| Attributes | Organic Stevia Market |
|---|---|
| CAGR (2024 to 2034) | 3.6% |
| Growth Factor | Increasing cases of obesity and diabetes would boost demand for organic stevia. |
| Opportunity | The supportive government regulations and the expanding food & beverages sector would create new opportunities. |
| Key Trends | The rising trend for sugar-free products is shaping the growth of the market. |
The table below highlights the anticipated growth rates of different countries. Among these, Japan is expected to remain a highly lucrative market for steviacane, exhibiting a CAGR of 7.8%. Germany and the United States are anticipated to follow with CAGRs of 5.0% and 6.0%, respectively.
| Countries | CAGR |
|---|---|
| United States | 6.0% |
| Japan | 7.8% |
| Australia | 4.5% |
| Germany | 5.0% |
Australia is projected to surge at a CAGR of 4.5% by 2034. Australia's steviacane market is growing due to the country's rising population and surging need for several sweetening options. Stevia is being included in traditional medicines by citizens of the country.
Australia’s market is further driven by growing health consciousness and the emergence of new sustainable food retail stores that encourage people to adopt healthy lifestyles. The growing appeal of stevia-based herbal tea would also push demand in the market. The rising demand for products free of allergens and dietary restrictions can drive Australia's steviacane market share.
The United States steviacane market is expected to surge at a CAGR of 6.0% by 2034. The United States holds the leading position in this market due to the significant increase in the cases of diabetes, changing consumer behavior, and the adoption of healthy products.
Food & beverage manufacturers are mainly focused on sustainability by utilizing plant-based food ingredients. In the United States, key companies offer good quality stevia products to fulfill the consumers' needs. In addition, the growing trends of health & wellness and better-quality food items with low-sugar options are fueling the market.
Germany is projected to rise at a CAGR of 5.0% by 2034. The growing demand for healthy sweeteners and low-calorie, sugar-free products drives Germany’s steviacane market.
The availability of steviacane products in retail shops and e-commerce significantly fuels the market. These products offer healthy, sugar-free options that reduce calorie counts and improve overall health.
The expanding beverage industry is increasingly adopting steviacane as an ingredient in beverages such as fruit juices and vegetable juices. The growing trends for organic and natural products among modern consumers looking for clean-label products would further drive the market.
Japan's heightened focus on natural sweeteners is anticipated to help it surge at a CAGR of 7.8% by 2034. The shift toward sugar alternatives among millennial consumers for leading healthy lifestyles is augmenting the demand for steviacane in Japan. Stevia holds significant importance in Japan due to its historical relevance, which has been considered beneficial since ancient times.
Companies strategically offer steviacane in international markets, yielding substantial revenue across the country. The rising trend of product labeling for marketing purposes, coupled with supportive government policies, is bolstering Japan's market share on a global scale.
Key companies are actively raising consumer awareness about the advantages of steviacane to drive sales. The substantial contribution of prominent distributors and industry players is fueling the market in Japan.
China’s steviacane market is driven by the increasing production and cultivation of stevia & its accessibility. The popularity of sugar substitution is accelerating due to public health initiatives and growing awareness of the rising incidence of obesity.
Sales of stevia are growing in China as the new market players introduce their environmentally friendly products to consumers. The use of stevia products is growing due to prominent companies' innovative use of premium packaging and presentation to draw attention to their brand.
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The table below signifies leading sub-categories under form, application, and nature categories in the global steviacane market. The powder segment is expected to hold a market share of 90.0% in 2024. Under the application category, the beverage segment is projected to hold a market share of 31.3% in 2024.
| Segment | Market Share (2024) |
|---|---|
| Powder (Form) | 90.0% |
| Beverages (Application) | 31.3% |
| Conventional (Nature) | 74.8% |
Based on form, the powder form segment is estimated to dominate by holding a market share of 90.0% in 2024. Powder form is leading the global market due to growing consumer preferences backed by its convenience.
The popularity of sugar-free sweeteners for baking cakes is increasing the utilization of powder steviacane. Changing consumer preferences, tastes, and ease of use, as well as measuring the level of sweeteners, are surging the demand for the powder form of steviacane.
Powdered steviacane usually has a longer shelf life than liquid due to its stable and dry nature. This rugged, long shelf life allows manufacturers and retailers more accessible storage and transportation, making it a preferred form.
Based on nature, conventional steviacane is expected to hold a market share of 74.8% in 2024. It is expected to reach a market valuation of US$ 178.8 million in 2034.
Conventional steviacane has been on the market for a long time, making it a popular and widely recognized sugar-free option. This persistent presence in the market has allowed conventional steviacane to gain more recognition and trust among consumers over the organic option.
Consumers use conventional steviacane as a sugar substitute in their daily lives. This familiarity and popularity would contribute to its dominant position in the market.
Imperial Sugar (LDC), PureCircle Ltd., Cargill, Inc., Tate & Lyle PLC, Ingredion Incorporated, GLG Life Tech Corporation, and The Truvía Company, LLC are the leading players operating in the market. Introducing new products enables companies to remain competitive, meet evolving consumer demands, attract clientele, retain existing customers, and expand their market share.
To hold onto their positions in the market, key firms are growing their marketing and research & development budgets as well as their distribution networks. In order to create new-generation technology for the production of steviacane products, leading players are using competitive techniques.
Product Launches and Key Developments
| Attribute | Details |
|---|---|
| Estimated Global Steviacane Market Size (2024E) | US$ 101.0 million |
| Projected Steviacane Market Value (2034F) | US$ 239.0 million |
| Value-based CAGR (2024 to 2034) | 9.0% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | US$ million for Value, MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and the Middle East and Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, and others. |
| Key Segments Covered | Form, Application, Nature, and Region |
| Key Companies Profiled | Imperial Sugar (LDC); PureCircle Ltd.; Cargill, Inc.; Tate & Lyle PLC; Ingredion Incorporated; GLG Life Tech Corporation; The Truvía Company, LLC; In The Raw |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers Restraints Opportunity Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The steviacane market size is estimated to reach US$ 101.0 million in 2024.
Steviacane demand is set to expand at a 9.0% CAGR through 2034.
The target market size is expected to reach US$ 239.0 million by 2034.
The powder form is estimated to hold a market share of 90.0% in 2024.
Imperial Sugar (LDC), PureCircle Ltd., and Cargill, Inc. are the key players.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Technology Roadmap 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Dynamics 3.1. Drivers 3.1.1. Supply Side Drivers 3.1.2. Demand Side drivers 3.1.3. Economic Side Drivers 3.2. Restraints 3.3. Opportunity 3.4. Market Trends 3.5. Macro-Economic Factors 3.6. Forecast Factors - Relevance and Impact 3.7. Certifying Agencies 3.8. Consumer Survey 4. Value Chain Analysis and Operating Margins 4.1. Supply chain analysis (Operating margin analysis) 4.2. List of Key market participants 4.2.1. Key Manufacturers List 4.2.2. Key End-user List 4.3. Notes on Value Added at Each Node in the Value Chain 5. Global Market - Pricing Analysis 5.1. Price Point Assessment By Form 5.2. Price Point Assessment by Region 5.2.1. Manufacturer Level Pricing 5.2.2. Distributor Level Pricing 5.2.3. Retail Level Pricing 5.3. Price Forecast till 2034 6. Global Market Demand in Value (US$ million) and Volume (MT) Analysis 2019 to 2023 and Forecast, 2024 to 2034 6.1. Historical Market Value (US$ million) and Volume (MT) Analysis, 2019 to 2023 6.2. Current and Future Market Value (US$ million) and Volume (MT) Projections, 2024 to 2034 6.2.1. Y-o-Y Growth Trend Analysis 6.2.2. Absolute $ Opportunity Analysis 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Form 7.1. Introduction / Key Findings 7.2. Historical Market Size (US$ million) and Volume (MT) Analysis By Form, 2019 to 2023 7.3. Current and Future Market Size (US$ million) and Volume (MT) Analysis and Forecast By Form, 2024 to 2034 7.3.1. Powder 7.3.2. Liquid 7.4. Market Attractiveness Analysis By Form 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ million) and Volume (MT) Analysis By Application, 2019 to 2023 8.3. Current and Future Market Size (US$ million) and Volume (MT) Analysis and Forecast By Application, 2024 to 2034 8.3.1. Dairy Products 8.3.2. Bakery Products 8.3.3. Beverages 8.3.4. Confectionery Products 8.3.5. Dietary Supplements 8.3.6. Snacks 8.3.7. Table Top Sweeteners 8.3.8. Others (Electrolyte Mixes and Medicinal Formulations) 8.4. Market Attractiveness Analysis By Application 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Nature 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ million) and Volume (MT) Analysis By Nature, 2019 to 2023 9.3. Current and Future Market Size (US$ million) and Volume (MT) Analysis and Forecast By Nature, 2024 to 2034 9.3.1. Organic 9.3.2. Conventional 9.4. Market Attractiveness Analysis By Nature 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region 10.1. Introduction 10.2. Historical Market Size (US$ million) and Volume (MT) Analysis By Region, 2019 to 2023 10.3. Current Market Size (US$ million) and Volume (MT) Analysis and Forecast By Region, 2024 to 2034 10.3.1. North America 10.3.2. Latin America 10.3.3. Europe 10.3.4. East Asia 10.3.5. South Asia 10.3.6. Oceania 10.3.7. Middle East and Africa 10.4. Market Attractiveness Analysis By Region 11. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034 11.1. Introduction 11.2. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023 11.3. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2024 to 2034 11.3.1. By Country 11.3.1.1. United States 11.3.1.2. Canada 11.3.2. By Form 11.3.3. By Application 11.3.4. By Nature 11.4. Market Attractiveness Analysis 11.4.1. By Country 11.4.2. By Form 11.4.3. By Application 11.4.4. By Nature 11.5. Key Takeaways 12. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034 12.1. Introduction 12.2. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023 12.3. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2024 to 2034 12.3.1. By Country 12.3.1.1. Brazil 12.3.1.2. Mexico 12.3.1.3. Colombia 12.3.1.4. Rest of Latin America 12.3.2. By Form 12.3.3. By Application 12.3.4. By Nature 12.4. Market Attractiveness Analysis 12.4.1. By Country 12.4.2. By Form 12.4.3. By Application 12.4.4. By Nature 12.5. Key Takeaways 13. Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034 13.1. Introduction 13.2. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023 13.3. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2024 to 2034 13.3.1. By Country 13.3.1.1. Germany 13.3.1.2. France 13.3.1.3. United Kingdom 13.3.1.4. Spain 13.3.1.5. Netherlands 13.3.1.6. Belgium 13.3.1.7. Poland 13.3.1.8. Italy 13.3.1.9. Russia 13.3.1.10. Rest of Europe 13.3.2. By Form 13.3.3. By Application 13.3.4. By Nature 13.4. Market Attractiveness Analysis 13.4.1. By Country 13.4.2. By Form 13.4.3. By Application 13.4.4. By Nature 13.5. Key Takeaways 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034 14.1. Introduction 14.2. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023 14.3. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2024 to 2034 14.3.1. By Country 14.3.1.1. China 14.3.1.2. Japan 14.3.1.3. South Korea 14.3.2. By Form 14.3.3. By Application 14.3.4. By Nature 14.4. Market Attractiveness Analysis 14.4.1. By Country 14.4.2. By Form 14.4.3. By Application 14.4.4. By Nature 14.5. Key Takeaways 15. South Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034 15.1. Introduction 15.2. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023 15.3. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2024 to 2034 15.3.1. By Country 15.3.1.1. India 15.3.1.2. Malaysia 15.3.1.3. Indonesia 15.3.1.4. Singapore 15.3.1.5. Vietnam 15.3.1.6. Philippines 15.3.1.7. Thailand 15.3.1.8. Rest of South Asia 15.3.1.9. By Form 15.3.2. By Application 15.3.3. By Nature 15.4. Market Attractiveness Analysis 15.4.1. By Country 15.4.2. By Form 15.4.3. By Application 15.4.4. By Nature 15.5. Key Takeaways 16. Oceania Market Analysis 2019 to 2023 and Forecast 2024 to 2034 16.1. Introduction 16.2. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023 16.3. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2024 to 2034 16.3.1. By Country 16.3.1.1. Australia 16.3.1.2. New Zealand 16.3.2. By Form 16.3.3. By Application 16.3.4. By Nature 16.4. Market Attractiveness Analysis 16.4.1. By Country 16.4.2. By Form 16.4.3. By Application 16.4.4. By Nature 16.5. Key Takeaways 17. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034 17.1. Introduction 17.2. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023 17.3. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2024 to 2034 17.3.1. By Country 17.3.1.1. GCC Countries 17.3.1.2. North Africa 17.3.1.3. South Africa 17.3.1.4. Rest of Middle East and Africa 17.3.1.5. By Form 17.3.2. By Application 17.3.3. By Nature 17.4. Market Attractiveness Analysis 17.4.1. By Country 17.4.2. By Form 17.4.3. By Application 17.4.4. By Nature 17.5. Key Takeaways 18. Country-level Market Analysis 18.1. United States Market Analysis 18.1.1. By Form 18.1.2. By Application 18.1.3. By Nature 18.2. Canada Market Analysis 18.2.1. By Form 18.2.2. By Application 18.2.3. By Nature 18.3. Brazil Market Analysis 18.3.1. By Form 18.3.2. By Application 18.3.3. By Nature 18.4. Mexico Market Analysis 18.4.1. By Form 18.4.2. By Application 18.4.3. By Nature 18.5. Colombia Market Analysis 18.5.1. By Form 18.5.2. By Application 18.5.3. By Nature 18.6. Germany Market Analysis 18.6.1. By Form 18.6.2. By Application 18.6.3. By Nature 18.7. United Kingdom Market Analysis 18.7.1. By Form 18.7.2. By Application 18.7.3. By Nature 18.8. France Market Analysis 18.8.1. By Form 18.8.2. By Application 18.8.3. By Nature 18.9. Italy Market Analysis 18.9.1. By Form 18.9.2. By Application 18.9.3. By Nature 18.9.4. By Price Range 18.10. Spain Market Analysis 18.10.1. By Form 18.10.2. By Application 18.10.3. By Nature 18.11. Netherlands Europe Market Analysis 18.11.1. By Form 18.11.2. By Application 18.11.3. By Nature 18.12. Belgium Market Analysis 18.12.1. By Form 18.12.2. By Application 18.12.3. By Nature 18.13. Russia Region Market Analysis 18.13.1. By Form 18.13.2. By Application 18.13.3. By Nature 18.14. Poland Market Analysis 18.14.1. By Form 18.14.2. By Application 18.14.3. By Nature 18.15. China Market Analysis 18.15.1. By Form 18.15.2. By Application 18.15.3. By Nature 18.16. Japan Market Analysis 18.16.1. By Form 18.16.2. By Application 18.16.3. By Nature 18.17. India Market Analysis 18.17.1. By Form 18.17.2. By Application 18.17.3. By Nature 18.18. Thailand Market Analysis 18.18.1. By Form 18.18.2. By Application 18.18.3. By Nature 18.19. Malaysia Market Analysis 18.19.1. By Form 18.19.2. By Application 18.19.3. By Nature 18.20. Indonesia Market Analysis 18.20.1. By Form 18.20.2. By Application 18.20.3. By Nature 18.21. Vietnam Market Analysis 18.21.1. By Form 18.21.2. By Application 18.21.3. By Nature 18.22. Philippines Market Analysis 18.22.1. By Form 18.22.2. By Application 18.22.3. By Nature 18.23. Singapore Market Analysis 18.23.1. By Form 18.23.2. By Application 18.23.3. By Nature 18.24. Australia Market Analysis 18.24.1. By Form 18.24.2. By Application 18.24.3. By Nature 18.25. New Zealand Market Analysis 18.25.1. By Form 18.25.2. By Application 18.25.3. By Nature 18.26. GCC Countries Market Analysis 18.26.1. By Form 18.26.2. By Application 18.26.3. By Nature 18.27. North Africa Market Analysis 18.27.1. By Form 18.27.2. By Application 18.27.3. By Nature 18.28. South Africa Market Analysis 18.28.1. By Form 18.28.2. By Application 18.28.3. By Nature 19. Market Structure Analysis 19.1. Global Market Competition - a Dashboard View 19.2. Global Market Structure Analysis 19.3. Global Market Company Share Analysis 19.3.1. For Tier 1 Market Players, 2021 19.3.2. Company Market Share Analysis of Top 5 Players, By Region 19.4. Key Participants Market Presence (Intensity Mapping) by Region 20. Competition Analysis 20.1. Competition Dashboard 20.2. Competition Benchmarking 20.3. Competition Deep Dive 20.3.1. N.K.Proteins 20.3.1.1. Product Portfolio 20.3.1.2. Revenue by Market Segments (Product/Channel/Region) 20.3.1.3. Sales Footprint 20.3.1.4. Strategy Overview 20.3.1.4.1. Marketing Strategy 20.3.1.4.2. Product Strategy 20.3.1.4.3. Channel Strategy 20.3.2. PureCircle Ltd. 20.3.3. Cargill, Inc. 20.3.4. Tate & Lyle PLC 20.3.5. Ingredion Incorporated 20.3.6. GLG Life Tech Corporation 20.3.7. The Truvía Company, LLC 20.3.8. In The Raw 20.3.9. Other Players (On Additional Requests) 21. Assumptions and Acronyms Used 22. Research Methodology
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Steviacane Market
