Industry Background:
Steviol glycosides are extracted from stevia leaves and are used as a natural sweetner in place of sugar to avoid any negative impact. It is produced through various processes such as water/alcohol extraction, decolorization, impurity removal, and drying. The sweetness of steviol glycoside has around 200-300 times the sweetening effect than sucrose. There are various types of steviol glycoside namely stevioside, rubusoside, dulcoside A, rebaudioside A, B, C, D, etc, and others.This growth is primarily driven by Rising Number of Diabetes Patients and Growing Demand for Sugar Substitute Sweetening Products.
Globally, a noticeable market trend is evident Emerging Use of Steviol Glycoside in Pharmaceutical Products
. Major Vendors, such as PureCircle (Malaysia), Cargill (United States), Tate & Lyle PLC (United Kingdom), SweeGen (United States), Sunrise Nutrachem Group (China), GL Stevia Co., Ltd. (China), Merisant Company (United States), Morita Kagaku Kogyo Co Ltd (Japan), Daepyung (South Korea) and Oribalt (Latvia) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 15th March 2021, Ready for use in creative food and beverage innovations, SweeGen’s Bestevia Rebaudioside B has received the GRAS (Generally Recognized As Safe) Letter of No Objection from the U.S. Food and Drug Administration (FDA). More consumers are embracing nature-based stevia sweeteners and clean-label ingredients in their food and beverages.
Regulatory Insights:
"No side effects and their safety as food additives have been approved by the U.S. Food and Drug Administration (FDA), European Food Safety Authority (EFSA), Joint FAO/WHO Expert Committee on Food Additives (JECFA), UK Food Standards Agency (FSA), as well as Food Standards Australia New Zealand (FSANZ). High-purity (95% minimum purity) of an individual or combined steviol glycosides can be considered as GRAS by the FDA, while stevia leaf and crude stevia extracts are not. In the safety evaluation of steviol glycosides in 2010, EFSA claimed they were not carcinogenic, genotoxic, or associated with any reproductive/developmental toxicity. Meanwhile, EFSA established an ADI of 4 mg/kg bw/day for steviol glycosides, expressed as steviol."
Market Drivers
- Rising Number of Diabetes Patients
- Growing Demand for Sugar Substitute Sweetening Products
Market Trend
- Emerging Use of Steviol Glycoside in Pharmaceutical Products
- E-commerce Availability of Steviol Glycoside Products
Restraints
- Allergic Reaction Associated with Steviol Glycoside to Some People
Opportunities
Surging Awareness about the Steviol Glycoside Products and its Benefits as it is a Natural Chemical Obtained from Stevia Plant
Challenges
Substitute Product Availability of Steviol Glycoside
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Steviol Glycoside Study Sheds Light on
— The Steviol Glycoside Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Steviol Glycoside industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
— Where Steviol Glycoside industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
— How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.