IndustryARC
Global Stevia / Stevia Rebaudiana Market (2013-2018)
By Types (Liquid & Powdered); By Application (Dairy, Bakery, Canned Food, Beverages & Others) and By Geography
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TABLE OF CONTENTS 1. Stevia - Market Overview 2. Executive Summary 3. Stevia - Market Landscape 3.1. Market Share Analysis 3.2. Comparative Analysis 3.2.1.
Product Benchmarking
3.2.2.
End user profiling
3.2.3.
Patent Analysis
3.2.4.
Top 5 Financials Analysis
4. Stevia - Market Forces 4.1. Market Drivers 4.2. Market Constraints 4.3. Market Challenges 4.4. Attractiveness of the Industry 4.4.1.
Power of Suppliers
4.4.2.
Power of Customers
4.4.3.
Threat of New entrants
4.4.4.
Threat of Substitution
4.4.5.
Degree of Competition
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5. Stevia Market– Strategic Analysis 5.1. Value Chain Analysis 5.2. Opportunities Analysis 5.3. Product/Market Life Cycle Analysis 6. Stevia Market 6.1. By Key Functional/Sweetening Ingredient 6.1.1.
Rebaudioside A (Rebiana)
6.1.2.
Stevioside
6.2. By Type of Extracts 6.2.1.
Liquid Extracts
6.2.1.1. Clear 6.2.1.2. Dark 6.2.2.
Powdered Extracts
6.2.2.1. Stevia Blends 6.2.2.2. Sweet Glycosides (40-50%) 6.2.2.3. Sweet Glycosides (80-95%) 6.2.3.
Stevia Leaves
6.2.3.1. Dried Leaves 6.2.3.2. Ground Leaves 6.2.3.3. Fresh Leaves 6.2.3.4. Tea Cut Leaves 7. Global Stevia Market - By End- Users/Industries/Applications 7.1. Food Industry 7.1.1.
Dairy Foods
7.1.1.1. Ice Cream
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7.1.1.2. Yogurt 7.1.1.3. Flavored Milk 7.1.1.4. Others 7.1.2.
Bakery
7.1.2.1. Bread & Rolls 7.1.2.2. Biscuits 7.1.2.3. Cakes 7.1.2.4. Others 7.1.3.
Bottled & Canned Food
7.1.3.1. Pickles 7.1.3.2. Jams 7.1.3.3. Sauces 7.1.3.4. Nutritional Powders 7.1.4.
Snacks
7.1.4.1. Potato Chips 7.1.4.2. Processed Snacks 7.1.4.3. Other Savory Snacks 7.2. Beverages Industry 7.2.1. Alcoholic Drinks 7.3. Non-Alcoholic Drinks 7.3.1.
Energy Drinks
7.3.2.
Soft Drinks
7.3.2.1. Carbonated Soft Drinks 7.3.3.
Hot Drinks
7.3.4.
Flavored Drinks
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7.3.5.
Naturally Sweetened Water
7.4. Processed Food 7.4.1.
Chilled
7.4.2.
Frozen
7.4.3.
Dried
7.5. Confectionary Food 7.6. Surface & Dressing Food 7.7. Confectionery Items 7.8. Convenience Food 7.9. Dietary Supplements 7.10.
Pharmaceutical Industry
7.11. Others (Feed Stuff, Organic Food, Preservatives and Additives, Health and Personal Care Products) 8. Global Stevia Delivery Market -Geographic Analysis 8.1. Introduction 8.2. North America 8.2.1.
Canada
8.2.2.
Mexico
8.2.3.
USA
8.2.4.
Others
8.3. South & Central America 8.3.1.
Brazil
8.3.2.
Paraguay
8.3.3.
Others
8.4. Europe 8.4.1.
France IndustryARC | 5
8.4.2.
Switzerland
8.4.3.
Others
8.5. APAC 8.5.1.
China
8.5.2.
India
8.5.3.
Japan
8.5.4.
Others
8.6. ROW 9. Market Entropy 9.1. New Product Launches 9.2. M&As, Collaborations, JVs and Partnerships 10. Company Profiles (Overview, Financials, SWOT Analysis – Top 5 Companies, Developments, Product Portfolio) 10.1.
Cargill Inc.
10.2.
Coca Cola Co.
10.3.
Cumberland Packaging Corp.
10.4.
Evolva Holding
10.5.
Groupe Danone
10.6.
Ingredion Inc.
10.7.
Whole Earth Sweetener Co. (subsidiary of Merisant Co.)
10.8.
Mulder Natural Foods
10.9.
Nature’s Bounty Inc.
10.10. Nestle S.A. 10.11. Odwalla Inc. 10.12. Pepsi Co. 10.13. PureCircle Ltd. IndustryARC | 6
10.14. S&W Seed Co. 10.15. Stevia Corp. 10.16. Sunwin International Inc. 10.17. Sweet Green Fields LLC 10.18. SweetLife Stevia Sweetener 10.19. Tate & Lyle PLC 10.20. White Wave Foods Co. 10.21. Whole Earth Sweetener Co. 10.22. Wild Flavors Inc. 10.23. Xinghua Green Biological Preparation Co. Ltd. 11. Appendix 11.1.
Abbreviations
11.2.
Sources
11.3.
Research Methodology
11.4.
Bibliography
11.5.
Compilation of Expert Insights
11.6.
Disclaimer
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REPORT SCOPE & STAKEHOLDERS SCOPE The global Stevia / Stevia Rebaudiana market has been segmented into different segments such as functional/sweetening ingredient, type of extracts and end users. Each of these segments is further broken down to give an in-depth analysis of the market. The overall market is also segmented based on the demand from different geographic regions. Competitive landscape for each of the product types is highlighted and market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. Market shares of the key players for 2013 are provided. The prominent players profiled in this report are Cargill Inc., Coca Cola Co., Cumberland Packaging Corp., Mulder Natural Foods, PureCircle Ltd. and others. The report contains the most detailed and in-depth segmentation of the global Stevia/Stevia Rebaudiana market. STAKEHOLDERS Stevia Leaves Growers, Stevia Extractors, Stevia Processors, Food Products Co., Beverages Co., Confectionery Item Manufacturers, Dairy Products Providers, Pharmaceutical Industry, Machine & Equipment Providers, Maintenance & Service Providers are the major stakeholders in this market.
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REPORT DESCRIPTION Stevia is a shrub native to South America, whose leaves are used as a sugar substitute. The most used variety of this shrub is Stevia Rebaudiana that grows in Brazil and Paraguay. The leaves of this variety have been used here by the native tribes from centuries. The commercialization of Stevia began 40 years back when Japan started using it as a sweetening agent. The health benefits of Stevia products as a natural sweetening agent include low calorie, low carbohydrates, low glycemic index & blood pressure, 200-300 times sweeter than sugar, cardiac stimulant. A continuous research is being conducted to use them as obesity and contraceptive measure. Stevia is used in additives & preservatives, sweetening agents, confectionery items, dietary supplements, dairy products, convenience food and medicines. The global Stevia market has been analyzed with respect to different parameters such as supply, demand, end users and industries involving Stevia to produce zero calorie products. Their high sugar content with zero calories as compared to other sweeteners has created a demand for them across the world. The Stevia market is bifurcated into key sweetening ingredients and extracts. Further sub segmentation is also provided to give a clear view of the form in which Stevia is consumed. United States and Japan are the leading economies of world with 60% share in global Stevia consumption while China with 80% share is the world leader in production and extraction of Stevia leaves. The rise in global Stevia products crossed 150% mark in the beginning of this decade and is going to expand with recent EU clearings on low-sugar products. Stevia is gradually replacing sweetening agents in Food & Beverage Industry. According to WHO estimates, Stevia has the potential to replace 20-30% of all dietary sweeteners in the coming years. With a CAGR of 6% the expected revenue from Stevia ingredients and its products will be between $8 billion-$11 billion by 2015. Analyzing the competitive landscape of the Global Stevia Market for 2013 IndustryARC is of the opinion that PureCircle Ltd. is the world leader in production, marketing and distribution of Stevia ingredients while Coca Cola Co., Cargill Inc., Pepsi Co. are leading manufacturers and incorporators of Stevia ingredients. Together these companies hold more than 50% of Stevia market share in US.
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Stevia Market Share By Region, 2013 (%)
11.0% 35.0% 24.0%
Asia Pacific North America South America
30.0%
ROW
Source: IndustryARC Analysis
The above pie chart indicates the use of Stevia and its products in different regions across the world. Japan is the major consumer of Stevia in world due to early induction there with strong commercialization aspects. In South America, Brazil and Paraguay are the leading consumers. Sample Table–Stevia Market Demand in Food Industry, By Sector (2011-2018) END USER SECTOR
2011
2012
2013
2015
2018
CAGR 2013-2018
Dairy Bakery Bottled & Canned Food
XX
XX
XX
XX
XX
X%
XX
XX
XX
XX
XX
X%
XX
XX
XX
XX
XX
X%
Snacks Others
XX
XX
XX
XX
XX
X%
XX
XX
XX
XX
XX
X%
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GLOBAL STEVIA MARKET - TRENDS 1.
Demand for beverages involving Stevia will be high for the next 5 years.
2.
The chief sweetening ingredients in Stevia leaves are: Rebaudioside A (Rebiana) and Stevioside. Rebiana is currently the chief ingredient in Stevia products.
3.
More than 45% of US household stevia products were made with Cargill’s Truvia.
4.
North America and Asia Pacific together account for more than 65% of the market share of stevia ingredients and its products market in 2013.
5.
Cargill Inc. expressed interest to invest $5.3 million in stevia fermentation techniques in partnership with Evolva Holding.
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RESEARCH METHODOLOGY The quantitative and qualitative data collected for the Stevia market report is from a combination of secondary and primary sources. Research interviews were conducted with senior executives and/or managers of leading Stevia producers. These Key Opinion Leaders (KOLs) were then provided a questionnaire to gather quantitative and qualitative inputs on their operations, performance, strategies and views on the overall market, including key developments and technology trends. Data from interviews is consolidated, checked for consistency and accuracy, and the final market numbers are again validated by experts. The global market was split by products, services and geography based on different factors like primary and secondary sources, understanding of the number of companies operating in each segment and also KOL insights. We have used various secondary sources such as directories, articles, white papers, newsletters, annual reports and paid databases such as OneSource, Hoovers and Factiva to identify and collect information for extensive technical and commercial study of the Stevia market. The key players in the market and its value chain were identified through secondary research and their market opinions were also gathered in a similar way through telephonic interviews and questionnaires. We have also studied the annual reports of these top market players. Interviews with key opinion leaders such as directors, managers, marketing personnel were used extensively in understanding the need and emergence of Stevia market.
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THE ARC ADVANTAGE An analytical model lies at the core of our process, ensuring logical consistency throughout our research. We complement the model with secondary data and interviews with industry experts to reflect the latest trends. With our final expert validation, we provide you with only the most accurate and actionable intelligence.
THE ARC PROCESS Analytical Method 1. Granular breakdown of drivers into factors 2. Validate all factors in terms of their present impact on the market 3. Assign weights to these factors in terms of their relevance and impact on the market 4. Build the Analytical Model ANALYTICAL MODEL
Base Method
1. Get a topdown estimate of the market 2. Follow it up with a bottom-up estimate of the market 3. Check forconsistency and new growth factors that are relevant over the next 10 Years
4. Build the Base model BASE MODEL
Consolidation Method 1. Granular breakdown of drivers into factors 2. Validate all factors in terms of their present impact on the market. 3. Assign weights to these factors in terms of their relevance and impact on the market. 4. Build the Consolidated Model
Delphi Verification 1. Verify the findings of the model with experts from across the value chain 2. Verify the findings with players across small and large enterprises 3. Tweak the model and add new factors 4. Finalize the ARC Model
CONSOLIDATED MODEL
ARC MODEL
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