The stevia industry in Western Europe is on an upward trajectory, poised to double its value by 2033. With a projected CAGR of 7.5%, stevia sales are expected to surge from US$ 157.4 million in 2023 to approximately US$ 324.5 million by 2033. This growth is fueled by the increasing awareness of health and wellness, coupled with rising concerns about diabetes and obesity in the region. Consumers are actively seeking natural, zero-calorie sugar substitutes, making stevia a preferred choice.
The demand for stevia in Western Europe is driven by the growing prevalence of health-conscious consumers seeking alternatives to traditional sweeteners. With its natural origin and zero-calorie profile, stevia appeals to individuals aiming to manage their weight and blood sugar levels. Moreover, the rise of clean-label products and the emphasis on transparency in food and beverage ingredients further propel the demand for stevia in the region.
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The primary growth factor behind the stevia industry in Western Europe is the rising prevalence of obesity and lifestyle-related diseases. As health concerns escalate, consumers are actively seeking healthier dietary options, driving the demand for natural sweeteners like stevia. Additionally, the adoption of plant-based diets and the increasing popularity of clean-label products contribute to the growth of the stevia market in the region.
Key Takeaway:
Investors in the industry are presented with a compelling opportunity to capitalize on the burgeoning stevia industry in Western Europe. With a projected CAGR of 7.5% and a forecasted valuation of US$ 324.5 million by 2033, investing in this high-growth sector promises significant returns. By leveraging the growing demand for natural, zero-calorie sweeteners and aligning with consumer preferences for clean-label products, investors can position themselves strategically to tap into this expanding market.
Competitive Landscape
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
- In October 2023, Carlsberg announced that it is going to be using steviol glycosides as a sweetener in its new zero-sugar beer. The company is the first key brewer to use stevia in its products.
- In April 2023, Nestlé also announced that it is aiming to use steviol glycosides as a sweetener in its new Nescafé Gold Stevia instant coffee.
- In January 2023, Danone partnered with Ingredion to develop a new stevia-based sweetener blend. The new blend is going to be used in a variety of Danone’s products.
Some of the Key Players Offering Stevia in Western Europe
- Cargill
- Ingredion
- Tate & Lyle
- Archer Daniels Midland (ADM)
- Südzucker
- Givaudan
- PureCircle
- Evolva
- Stevia Natura (France)
- OVIATIS (France)
- Biostevera (Spain)
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Key Segments in the Western Europe Stevia Industry
By Nature:
- Organic Stevia
- Conventional Stevia
By Type:
- Liquid Extract
- Clear
- Dark
- Powder Extract
- Stevia Blends
- Glycoside (40%-79%)
- Glycoside (80% and above)
- Stevia Leaves
By Application:
- Dairy Food Products
- Bakery Products
- Beverages
- Packaged Food Products
- Dietary Supplements
- Confectionery Products
- Snacks
- Table Top Sweeteners
- Others (Electrolyte Mixes and Medicinal Formulations)
By Country:
- United Kingdom
- Germany
- France
- BENELUX
- Sweden
- Norway
- Denmark
- Italy
- Spain
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