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Follow on Google News | Stevia is estimated to become a billion dollar market and is slated to grow to $1.2bn by 2020In 2014, the market for Stevia is estimated to be $441 million, which is around $100 million more than that of 2012, where the market was around $346 million for the product.
By: industryarc Stevia is currently one of the best alternatives for sugar available in the market. It is indigenous to South American countries Brazil and Paraguay, where it has been used for many centuries. Stevia was introduced to Japan in the 1970s and continued to remain a preferable choice as a sweetening agent and to USA in 2008, where the Food and Drug Administration (FDA) marked it as a “Generally Recognized as Safe” (GRAS) status. From that point, the popularity of Stevia grew, and the market accelerated with many countries using it as a sweetening agent. The Australia and New Zealand Food and Safety Regulatory Authority approved it in 2008, while in France it was approved by 2009. In 2011, the European Union approved Stevia’s extract Steviol Glycosides to be used as a sweetener in the food products. In 2012, Canada said yes to Stevia, while India approved it in 2013. These regulatory approvals have been the major market driver for Stevia by enabling the food manufacturers to use it in different food products. To browse table of contents click below: http://industryarc.com/ Currently, the global sugar substitute (high intensity sweeteners) market is dominated by a few players, namely Tate & Lyle PLC, and Ingredion Inc. They have a considerable amount of market share, as noted in 2013. Tate and Lyle PLC is presently leading in the sugar substitute market across the world primarily due to the high demand for their sucralose based artificial sweetener, Splenda. At the same time, Ingredion expanded its research facility in 2013 with the setting up of new R&D center in Bridgewater, N.J. focusing on the development of sweeteners. Stevioside is one of the abundant components present in the rebaudiana leaf and is used as a non-caloric sweetener in many parts of the world. Steviosides and its related products have some therapeutic benefits as well that goes beyond sweetness, and so, the market for Stevioside is expected to grow in the upcoming years. A considerable number of products that use commercial sweeteners in Japan have Steviosides as its main ingredient. Similarly, the North American market has shown trends which are inclining towards Stevioside, where the flavors are currently enhanced to lose the bitter aftertaste that Stevioside produce. If the research proves successful, Stevioside will have a bigger market in the market. IndustryARC has compiled a significant report which explains the Stevia market and its chief players, and the scope for growth. Since Stevia is becoming a global phenomenon, the growth of this market seems to be immense, and it is estimated to be one of the most important products of the food industry in the near future. Request for the sample data/brochure: http://industryarc.com/ About Us: IndustryARC (http://industryarc.com/ Contact: Sanjay Matthews Manager, Client Relationships IndustryARC Phone: 1- 614-588-8538 Email: sanjay.matthews@ LinkedIn: http://www.linkedin.com/ Facebook: https://www.facebook.com/ Twitter: https://twitter.com/ End
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