Stevia is a natural sugar substitute. It is a low-calorie sweetener, high on protein and antioxidants. Therefore, it is utilized in numerous energy drinks and health supplements.Stevia is a plant based low calorie sweetener which is used as a substitute for sugar. It is a rich source of protein and antioxidants. It is utilized as a natural sweetening ingredient in food and beverages industries.
For instance, recently, Cargill has developed a product called as Via Tech. It is a high-performance sweetener that can be used in various foods and beverages. It can be utilized in carbonated soft drinks to achieve around 50% sugar reduction and to maintain grate taste.
In 2017, Coca-Cola Fair life introduced a product called “Super kids”. This ultra-filtered premium milk is available in white and chocolate milk variety. It is sweetened using stevia leaf extract. The company practices their patented process called cold-filtration to produce this milk. This is a lactose- free milk variety with increased protein and calcium content and nearly 50% reduced sugar.
In January 2017, Recov Beverages & Heidelberg Distribution declared the launch of a health focused recovery drink called “Thirty”. This low-calorie sports drink is made up of several natural ingredients including stevia, granulated sugar, and monk fruit juice.
Increasing demand for calorie free sweetener in food and beverages industries can propel the worldwide stevia market. Growing awareness regarding health benefits associated with stevia is a major driving factor for the market. Additionally, development of innovative and better tasting products and attractive marketing strategies can further boost the demand during the forecast period (2017 to 2021).
However, availability of several other natural substitutes to stevia may restrain the market growth. Additionally, availability of other low-calorie sweeteners can also hamper the product demand in near future. However, improved buying capacity and increasing awareness are anticipated to propel the market growth, especially across the emerging markets.
Leading companies operating in the market include Cargill, Merisant, GLG LEADING LIFE TECHNOLOGIES, SweetLeaf, and PureCircle.