Steviol glycoside is a Chemical compound that imparts a sweet taste to the leaves of the plant Stevia rebaudiana a native South American plant and forms the main basic component of a variety of sweeteners sold under the generic name stevia and other several trade names. They naturally occur in related species like Stevia phlebophylla and the plant Rubus.Chingii (Rosaceae). Chemical compounds react with the bitter and sweet receptors leading to a bitter taste after consumption. The sweet compounds are called steviol glycoside and is approximately 30 and 320 times sweeter than sucrose. They are stable in heat, pH-stable, do not ferment, they do not induce a glycemic response when ingested, thus making them good options as sugar substitutes for people suffering from diabetes and other people who require controlling the carbohydrates in their diet. The maximum daily intake for steviol glycoside, also known as steviol equivalents, is approximately 4 mg/kg as per the body weight per day.
The steviol glycoside market has improved performance due to the large demand for artificial sweeteners. It’s a safe option for diabetes patients. The increasing demands from food manufacturers, such as fruit and milk based drinks, hot fluidity, yoghurts and delicacies in terms of artificial sweeteners drives the steviol glycoside market. This helps in retaining the sweetness for longer than sugar. Steviol glycoside is highly in high demand in the market since the consumer is more inclined towards quick and safe intake of food ingredients/chemicals. The various factors that can restrain the growth of the steviol glycoside market are that it cannot be used a sugar substitute for children. People allergic to steviol glycoside require to be avoid the consumption. In some cases, steviol can cause a severe allergic reaction called anaphylaxis, however this occurs rarely. Symptoms of allergic reactions are, hives dizziness, wheezing, shortness of breath, general weakness or having a hard time swallowing shortly after consuming steviol glycoside.
Steviol Glycoside Market Segmentation By End Use – Pharmaceuticals, Paint, Food, (Frozen, Confectionary, Canned Foods), Personal Care
The global steviol glycoside market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and the Middle East and Africa (MEA). Globally, the food industry is performing in a dynamic manner where food manufacturers and suppliers are evolving and working closely to meets the wide variety of demands from consumers. The steviol glycoside market in North America and Europe is declining. The consumption of sweeteners is going down in developed economies due to the slowdown in the consumption of soft-drink consumption. The consumers’ trends are changing in the region which is influenced by the growing retailers generating the attractive and likewise innovative sale formats. The increasing consumption in emerging markets with regards to products of daily consumption has given a boost to industries such as food and beverage, cosmetics, FMCG, etc. which can lead to the increase in demand for steviol glycoside. Preparing food freshly on a regularly is also difficult due to busy schedules due to long working hoursThe retailers’ now-a-days keeps first-hand knowledge on preferences and purchase habits of the consumers which they transmit to the upper stream of manufacturers in the supply chain. This flow of generated information through retailers to the manufacturers call for the demand of steviol glycoside, since it a raw material for food manufactures. Thus, the manufacturer has to strategize their business through consumer insights and responses, the regional shift in the eating habits and penetration of modernizing food products such as fast food, etc. The APEJ hydroxyl propyl starch market is expected to grow at significant CAGR during the forecast period, owing to the growing end-use industry such as pharmaceutical food and personal care.
The prominent players in the Steviol glycoside market are: Cargill, Zydus, Merisant, GL Stevia, PureCircle, Sunrise Nutrachem Group, Daepyung
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