Stevia is a plant that is very intensely sweet in taste. It is being used since the sixteenth century to make tea and to sweeten beverages. The stevia plant is a native of Paraguay and Brazil. Although now stevia is also grown in other countries, like Japan & China, it is a sugar substitute and a sweetener that is driven from the leaves of Stevia Rebaudiana plant species. It is a non-nutritive sweetener and an herbal supplement containing little or no calories. Stevia’s sugar intensity is approximately 200-350 times greater than regular sugar. Due to the fewer calories and enhanced taste, many meals and beverages companies use stevia as a natural sweetener. As a substitute for sugar, stevia has several applications in dairy products, tabletop sweeteners, confectionery products, bakery, beverages, and convenience foods.
Stevia desserts form the largest share of the global stevia dessert market. The stevia desserts include various chocolates, candies, and bakery products. Stevia is widely used in making desserts because of its low cost, ease of use during processing, and availability. In addition, it provides improved mouthfeel, sweetness, texture, color, form, flavor, and extended shelf life to the final product, thereby increasing its demand.
COVID-19 Scenario Analysis:
The demand for stevia-based products is expected to witness an upward surge during the COVID-19 pandemic.
Consumers are opting for immunity boosting supplements during the COVID-19 outbreak and shifting away from the consumption of meat, poultry, and seafood products across the globe.
Furthermore, demand for plant-based products is increasing during this period.
Sitting back at home, people are getting more into cooking and baking, propelling the demand for stevia to be used in desserts.
There has been a shortage in the raw material, due to a halt on export and import activities all around the globe.
The production and supply of stevia are hurt, due to the shutdown of the majority of manufacturing units.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The increase in taste and preference of the consumers toward desserts consumption coupled with the health benefits provided by Stevia products like controlled blood sugar, weight control, blood pressure, pancreatic cancer, and various allergies; with no side effect on the human health or body drive the demand for the global stevia dessert market. Along with this, increase in applications of stevia desserts, rise in number of stevia-based product launches, surge in disposable income, rise in consumer demand for natural ingredients, and stevia’s feature of being the natural substitute for sugar, fuel the growth of the global stevia dessert market.
The fluctuation in the prices of the stevia leaves, which is the primary raw material for stevia, restricts the market growth for stevia desserts. Also, advancements in the extraction and formulation process of stevia, acts as a major challenge for this market. Another reason, which hampers the global demand for stevia desserts is that these desserts are not much common among consumers because of the lack of awareness and availability of sugar as a cheaper source to be used in desserts.
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However, increased research and development in finding new stevia-based products, using advanced technology for stevia extraction, developing new stevia dessert recipes, and health benefits provided by stevia, are few opportunities that will propel the stevia dessert market globally.
Questions Answered in the Stevia Dessert Market Research Report:
What are the leading market players active in the stevia dessert market?
What current trends will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What future projections would help in taking further strategic steps?
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Key Players: Coco Polo, Sweetal, Barry Callebaut, Now Foods, Ingredion Inc., Tate & Lyle PLC, SweetLeaf, and Zevic.
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