Global Stevia Market Worth US$ 565 million by 2020 : Persistence Market Research
Persistence Market Research Pvt. Ltd
According to a new market report published by Persistence Market Research “Global Market Study on Stevia Market - Beverages will Remain the Dominant Application Segment through 2020”, the global stevia market was valued at US$ 347 million in 2014 and it will expand at a CAGR of over 8% to reach a valuation of US$ 565 million by 2020.
Browse the full Stevia Market report at http://www.persistencemarketresearch.com/market-research/stevia-market.asp
The global stevia market is fueled by an increase in consumer awareness about the advantages of consuming low-calorie sugars and government initiatives on reducing sugar intake among the population. Rising obesity levels, coupled with concern about the risk of developing cardiovascular disease and diabetes are prompting consumers to make more healthy choices, and this augured well for creating the demand for stevia in the market. It is anticipated that by 2020, stevia will account for 15% of the share of the global sweetener market.
Government advocacy for reduction of sugar intake is also anticipated to push the demand for stevia. Governments around the world are encouraging the cultivation of stevia, and this is projected to boost the prospects of the stevia market through 2020. According to PMR’s market research on global stevia market, recent favorable regulations about stevia in Europe and the U.S. will create growth opportunities for the market during the forecast period.
Demand for plant-based sweeteners is another factor that is anticipated to boost the global stevia market through 2020. Consumers are proactively looking for natural and clean label products, and this change in consumer behavior is anticipated to push the demand for stevia through 2020.