The Stevia and Truvia Market is anticipated to grow significantly over the forecast period. Escalating awareness regarding health care products and low calorie natural sweeteners around the globe, stevia-based natural sugar substitute, truvia has been gaining momentum in the global stevia and truvia market. Stevia is extracted from the leaves of stevia rebaudiana plant – a low-budding shrub cultivated natively in South America and in Asia. In contrast to processed sugar, the liquid extract of stevia is well thought-out to be 15 to 30 times sweeter. While, stevia powder produced through the process of crystallization is considered to be sweeter than sugar by more than 200 times. The stevia plant extract has immense potential application as a non-toxic, non-calorific, and non-nutritive natural sweetener. Truvia is the brand distributed and marketed by Cargill, Inc. It was jointly developed by Cargill Inc. and the Coca-Cola Company. A single pack of Truvia contains erythritol (a sugar alcohol), stevia leaf extract, and some natural flavours. A single packet of Truvia natural sweetener is supposed to provide similar sweetness as two teaspoons of sugar.
Stevia has had comparatively extended market exposure than Truvia. There are now an abundance of commercially accessible Stevia products. Truvia products may be directly consumed as table top sweeteners or as a key sweetening ingredient in various food products and beverages. Studies have shown that consumption of Truvia natural sweetener has no ill effect on the glycaemic index and is well tolerated by type-II diabetics. Truvia markets its products in three different segments namely Truvia packets, Truvia spoonable, and Truvia baking blend. It also markets few other sweetened products in partnership with some of the leading food and beverage companies including Blue Sky and Hansen Inc. among others. Increasing demand for the low calorie products owing to the rising health consciousness coupled with growing prevalence of diabetes is anticipated to drive the stevia and truvia market globally. Additionally, the approval from the WHO (World Health Organisation) and FDA (Food & Drug Administration) for the Truvia ingredients to be safe for human consumption has fuelled the market growth even further. Food & beverage, healthcare, and personal care industries create opportunities for a prospering market for the sugar substitute products. However, the artificial sugar substitute market is expected to shift their interests towards natural Stevia-based products which may impose a threat to the existing market competition. It is anticipated that ample varieties of plants and fruit compounds are still unexplored having high potency of sweetening properties, which is expected to provide new opportunities favouring all key stakeholders.
The stevia and truvia market is dominated by North America accounting for the maximum market share globally followed by the European Union. South America and Asia has an additional advantage of the raw materials over the other markets and are anticipated to emerge as market hubs for Stevia. Moreover, the increasing prevalence of diabetes in the emerging economies and developing countries of other parts of the world will further boost the market for sugar substitute sweeteners. Truvia and PureVia (marketed by PepsiCo) are two chief consumers of Stevia. Other players in the industry include Wisdom Natural Brands, Merisant Company, and Cumberland Packing Corporation among others.
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