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The increasing demand for sugar substitutes due to changing buyer’s perception and realization of energy imbalance between calorie consumption and calorie expenditure is anticipated to drive the market of stevia and sugar blends. This imbalance of food calorie is majorly caused due to high spending on processed food and beverages along with the sedentary lifestyle which has collectively led to a raised prevalence of lifestyle-related diseases and obesity.
Stevia is tremendously sweeter than regular sugar and it contains no calories, so it is suitable for diabetics and those with high blood pressure. Children can also enjoy it without health concerns and it does not cause tooth cavities. This herbal sweetener is heat stable and thus could be used for cooking and baking. Therefore, it is usually blended with other sweeteners, such as sugar to get the desired food quality of processed food products. The changing consumer’s opinion towards table sugar has resulted in many international companies expanding their portfolio of sugar-reduced and sugar-free options, which predicts well for the stevia sugar blends market. The prominent players operating in the market are embarking upon product launch, collaborations, and merger and acquisition activities to increase their market prominence. For instance, in April 2020, leading global plant-based ingredients provider Ingredion announced that it has acquired 75% controlling stake in pioneering stevia company PureCircle. This acquisition is anticipated to help Ingredion to strengthen their portfolio in stevia and stevia related products.
High sugar diets considerably affect rates of obesity and diabetes, therefore the pursuit of a natural sugar substitute that has few or no calories, does not affect blood glucose levels, and can be used in home-baked products has been underway for a long time which is expected to boost the demand for stevia sugar blends. The increasing consumer demand for a sweetener that can be used in cooking and baking, yet with reduced calories and carbohydrates is expected to drive the global market of stevia sugar blends. Consumers are conscious of the bitter or metallic taste that stevia imparts in a product so the popularity of stevia and sugar blend is increasing owing to its sweet taste and almost half calories compared to sugar. Moreover, the lack of negative impact of the sugar tax on low and no-calorie beverages is anticipated to boost the demand for stevia sugar blends from beverage manufacturers. The World Health Organization (WHO) is inspiring governments to control obesity among children by announcing sugar taxes on sugar-sweetened soft drinks. Nevertheless, producers' sales of low- and no-calorie beverages are not affected because of their no or very low sugar content which is anticipated to drive the demand for stevia sugar blends.
Key Market Driver -
Increasing Demand for Sugar Substitutes
Key Market Restraint -
High Price of the Product
The high price of the product and increasing consumer shift towards another alternative of sugar such as jaggery and honey is anticipated to hamper the market growth. The low awareness about the product among consumers is anticipated to restrain the market growth.
The prominent players operating in the global stevia sugar blends market are, Рurеvіа Вlеndѕ, Тruvіа, Аlmеndrа Ѕtеvіа, Ѕun Fruіtѕ, Ѕtеvіа Віоtесh Рvt. Ltd, NОW Fооdѕ, Nаturаl Ѕtеvіа Ѕwееtеnеr, Nіutаng Сhеmісаl, Magicleaf Stevia, Whole Earth Sweetener, and others.
White sugar and stevia blends segment is anticipated to witness significant growth in the global market of stevia sugar blends. The increasing consumer demand for sweet yet reduced calories and carbohydrates sweetener is anticipated to boost the segment’s demand. White sugar and blends used in food and beverages helps to maintain sweetness, flavor, mouthfeel, and microbiological stability which is expected to increase the demand for white sugar and blends used from the food and beverage industry. Moreover, the increasing health consciousness among buyers is anticipated to propel the demand for brown sugar stevia blend.
The bakery industry is anticipated to hold a considerable share in the global market of stevia sugar blends followed by beverages. The blend of sugar and stevia is extensively used in the preparation of baked goods such as bread, cakes, and others. Stevia is widely used as a sugar substitute but it cannot add texture, caramelized effect, and the bakery products prepared with stevia will not rise well so the increasing utilization of stevia sugar blends in the preparation of baked goods is anticipated to drive the market. The use of stevia sugar blends in the production of beverages is also increasing to avoid the bitter aftertaste of stevia.
North America is anticipated to hold a prominent share in the global market of stevia sugar blends. The increasing prevalence of obesity and lifestyle-related disease in the U.S. and Canada due to high-calorie consumption and sedentary lifestyles is anticipated to drive the demand for low-calorie containing food ingredients such as stevia sugar blends. The shift of Americans from taste to health, using stevia sugar blend in food products is anticipated to give many benefits to stevia sugar blend manufacturers to develop their brand names within the region.
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Asia Pacific is anticipated to witness considerable growth in the global stevia sugar blends market. The increasing awareness about the table sugar consumption and its adverse effect on health and wellness is anticipated to drive the demand for stevia sugar blends in forthcoming years. The rapid urbanizations, increasing disposable income, and rising concerns over health and wellness among the population are expected to be a favorable factor for market growth within the region.
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