Europe Stevia Market - Growth, Trends, and Forecasts (2017 - 2022)

The European market for stevia was estimated at 100-150 tonnes in 2014. Stevia, being a plant-based sweetening product, is high in demand in the food and beverage industry. It is protein-rich and has low or zero calorific value. These factors are collectively supporting the growth of stevia market in Europe. Manufacturers are increasingly exploring alternative sweeteners which will enable a reduction in calorific content, without sacrificing taste. Increasing awareness of the health benefits of low calorie consumable products is a major catalyst.

Market Dynamics

Stevia was approved for use as a sweetener in Europe in 2011. Whilst countries such as France, Germany and Finland had allowed a limited number of Stevia products as early as 2009, 2012 was the first year that Stevia was allowed to be used in a wide range of food and drink categories in all EU markets. There are thousands of stevia-derived products in the European market and stevia has gained immense popularity as a sugar substitute. It, in fact, currently forms an essential segment of the sweeteners market of Europe. Increasing awareness about consuming healthy sugar substitutes is definitely contributing to the growth of sweeteners market in Europe. Consumers are very sensitive to sugar reduction claims on product labels. With a growing number of diabetics and calorie-watching consumers, the demand for sugar alternatives has exhibited an unprecedented rise. Major threat is the availability of the other low calorie sweeteners. The growing sports nutrition product and health drink market would provide a further boost to the industry's growth. Food & beverage, healthcare and personal care industries create opportunities of a prospering market for Stevia.

Market Segmentation

The Stevia market is segmented on the basis of type into powder, liquid and leaf. Stevia is widely used in the powdered form, hence this segment is the biggest and the fastest growing in the stevia market. It is segmented by application into food, beverages and pharmaceuticals. Stevia is widely used in a variety of food products such as confectionery, dairy, baked foods, beverages, and dietary supplements, as it can be easily incorporated and imparts sweetness to the product with very low calories as it can be easily incorporated and imparts sweetness to the product with very low calories.

Regional Analysis

In 2013, the European stevia market continued to develop at high speed. Europe accounted for around 40% of new product launches worldwide. Europe has not been able to register growth in the same pace in the stevia market because consumers here are reluctant in switching over to stevia from sugar or other sugar substitutes. France maintains a strong position in the European stevia market. China is the main stevia supplier to Europe.