Stevia is rising in popularity in Southeast Asian market as it is a healthy alternative to refined sugar. It helps in reducing health issues that occur due to intake of sugar such as obesity, uncontrolled diabetes, and fatty liver. QY Research has recently published a report titled “Southeast Asia Stevia Market Insights, Forecast to 2025”. The report predicts the opportunities and growth that lie in market. According to the report, the stevia market in Southeast Asia was worth US$10.39mn during 2018 and is expected to reach US$35.41mn by the end of 2025, registering a CAGR of 19.15% during the forecast period.
No Change in Taste to Promote Stevia Sales across Southeast Asia Market
Consumption of table sugar is scientifically proven to be harmful to the human body, causing various mild and chronic diseases. It aggravates conditions for people suffering from heart diseases, diabetes, and obesity. It also affects the immunity system and accelerates aging, therefore demand for naturally-derived alternatives is rising in the market. Stevia is popularly known as the delicious and health alternative to table sugar as it is derived from the plant leaf. It is used in tea and numerous beverages to sweeten them.
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It is also used as in the pharmaceutical industry as a sweetener as it has lower calorie content and does not boost blood sugar levels, making it consumable for diabetic patients. It non-cariogenic nature helps to keep teeth healthy too. Health benefits of stevia are the primary factors boosting its demand. It offers numerous advantages such as flavour enhancement, reduction in calorie and colour, improved texture, and sweetness without harming the body.
Conscious Eating Trend to Boost Stevia Demand in Food Segment
Food segment is expected to rise in demand during the forecast period as due to conscious and healthy eating trends, consumers are choosing better lifestyle and eating habits. Internet influence has motivated various consumers to eat stay fit and lead a healthier life, hence, demand for stevia in food segment is expected to rise demand.
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PureCircle has recently launched its new ingredient called Sigma Syrup with new blend of ingredients that will provide superior taste and resolve solubility challenges. The company has also announced the new variety of stevia plant that is expected to yield better quality of stevia ingredients.
The key players operating in the Southeast Asia stevia market are PureCircle, SteviaSugar Corporation, Cargill, Haotian Pharm, Shangdong Huaxian Stevia, and Jining Aoxing Stevia Products.
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