Middle East and Africa Stevia Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Whole Leaf, Powder, and Liquid), Application (Dairy & Frozen Dessert, Bakery & Confectionery, Tabletop Sweetener, Beverages, and Others)
Market Introduction
The Middle East and Africa stevia market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. With the increasing incidence of diabetes and obesity, consumers are progressively shifting toward natural sweetening products. Obesity is a prevalent disease that leads to diabetes along with other chronic diseases such as hypertension, metabolic syndrome, cardiovascular risk, and retinopathy. The authorities across the region are focusing on a healthier lifestyle, which includes a reduction in the number of calories consumed, especially added sugar. The World Health Organization (WHO) has recommended a decrease in added sugars in the daily lifestyle. To lower the amount of sugar intake, consumers prefer natural sweeteners such as stevia, which helps in weight management by reducing added sugar and calories. Along with this, the consumers are increasingly consuming products having no added sugar. Thus, an increase in consumer inclination toward natural sweeteners is driving the growth of the stevia market.
In Middle East and Africa, South Africa reported a huge number of COVID-19 cases, which led to the discontinuation of several business operations, including stevia production activities. Downfall of other food and beverages producing sectors has negatively impacted the demand for stevia during the early months of 2020. However, the pandemic has been a reason for major shifts in consumer preferences that led to an increased awareness about having a healthy lifestyle. Consumers due to the pandemic are substituting conventional ingredients with healthier alternatives, which is, in turn, increasing the demand for natural sweeteners such as stevia. With an increase in the diet trend of no added sugars and low carbohydrates among consumers during the pandemic has led to an increase in demand for stevia. During the pandemic, there has been rapid surge in demand for less sugary and immunity-boosting products, which is due to people seeking solutions to boost overall health and wellbeing. The COVID-19 pandemic has prompted customers to become health conscious and turn to low-calorie or sugar-free food. Hence, increasing health consciousness and high demand for sugar-reducing solutions among the Middle East and African population due to the COVID pandemic has had a positive impact on the stevia market.
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Market Overview and Dynamics
The stevia market in Middle East and Africa is expected to grow from US$ 26.55 million in 2021 to US$ 44.81 million by 2028; it is estimated to grow at a CAGR of 7.8% from 2021 to 2028. The various governments from the region are taking efforts to reduce sugar intake. The various government bodies are promoting healthier consumption habits. In countries like UAE, Oman, Saudi Arabia etc. have announced excise tax on sugar sweetened beverages. These new taxes contributes to the government’s efforts to promote healthier consumption and prevent chronic diseases that are linked to the consumption of specific products containing high sugar that are harmful to human health. All these factors are creating the demand for stevia. Moreover, players operating in the region are introducing products with widened applications. Such factors further drive the market growth in the Middle East and Africa region.
Key Market Segments
Based on type, the powder segment accounted for the largest share of the Middle East and Africa stevia market in 2020. Based on application, the beverages segment accounted for the largest share of the Middle East and Africa stevia market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Middle East and Africa stevia market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Cargill, Incorporated; Ingredion Incorporated; Tate & Lyle PLC; the Archer-Daniels-Midland Company; S&W Seed Company; and PureCircle.
Reasons to buy report
- To understand the Middle East and Africa stevia market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for Middle East and Africa stevia market
- Efficiently plan M&A and partnership deals in Middle East and Africa stevia market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Middle East and Africa stevia market
- Obtain market revenue forecast for market by various segments from 2019-2028 in Middle East and Africa region.
Middle East and Africa Stevia Market Segmentation
Middle East and Africa Stevia Market -By Type
- Whole Leaf
- Powder
- Liquid
Middle East and Africa Stevia Market -By Application
- Dairy and Frozen Dessert
- Bakery and Confectionery
- Tabletop Sweetener
- Beverages
- Others
Middle East and Africa Stevia Market – By Country
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Middle East and Africa Stevia Market – Company Profiles
- Cargill, Incorporated
- Ingredion Incorporated
- Tate & Lyle PLC
- The Archer-Daniels-Midland Company
- S&W Seed Company
- PureCircle
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country Level Data
4. Middle East and Africa Stevia Market Landscape
4.1 Market Overview
4.2 Porter’s Analysis
4.2.1 Threat of New Entrants:
4.2.2 Bargaining Power of Buyers:
4.2.3 Bargaining Power of Suppliers:
4.2.4 Competitive Rivalry:
4.2.5 Threat of Substitutes:
4.3 Value Chain Analysis
4.4 Expert Opinion
5. Stevia Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rise in the Inclination of Consumers Towards Natural Sweeteners
5.1.2 Incrementing Usage of Stevia in Beverage Industry
5.2 Market Restraints
5.2.1 Fluctuating Prices of Stevia Leaf
5.3 Market Opportunities
5.3.1 Developments in Stevia Market
5.4 Future Trend
5.4.1 Enhancement in the Taste of Stevia
5.5 Impact Analysis of Drivers and Restraints
6. Stevia Market – Middle East and Africa Market Analysis
6.1 Stevia Market Overview
6.2 Stevia Market –Revenue and Forecast To 2028 (USD Million)
7. Middle East and Africa Stevia Market Analysis – By Type
7.1 Stevia Market, By Type (2020 and 2028)
7.2 Whole Leaf
7.2.1 Overview
7.2.2 Whole Leaf: Stevia Market – Revenue and Forecast to 2028 (USD Million)
7.3 Powder
7.3.1 Overview
7.3.2 Powder: Stevia Market – Revenue and Forecast To 2028 (USD Million)
7.4 Liquid
7.4.1 Overview
7.4.2 Liquid: Stevia Market – Revenue and Forecast to 2028 (USD Million)
8. Middle East and Africa Stevia Market Analysis – By Application
8.1 Overview
8.2 Stevia Market, By Application (2020 and 2028)
8.3 Dairy and Frozen Dessert
8.3.1 Overview
8.3.2 Dairy and Frozen Dessert: Stevia Market – Revenue and Forecast to 2028 (USD Million)
8.4 Bakery and Confectionery
8.4.1 Overview
8.4.2 Bakery and Confectionery: Stevia Market – Revenue and Forecast to 2028 (USD Million)
8.5 Tabletop Sweeteners
8.5.1 Overview
8.5.2 Tabletop Sweeteners: Stevia Market – Revenue and Forecast to 2028 (USD Million)
8.6 Beverages
8.6.1 Overview
8.6.2 Beverages: Stevia Market – Revenue and Forecast to 2028 (USD Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: Stevia Market – Revenue and Forecast To 2028 (USD Million)
9. Middle East and Africa Stevia Market – Country Analysis
9.1 Middle East and Africa: Stevia Market
9.1.1 Middle East and Africa: Stevia Market, by Key Country
9.1.1.1 South Africa: Stevia Market – Revenue, and Forecast to 2028 (USD Million)
9.1.1.1.1 South Africa: Stevia Market, by Type
9.1.1.1.2 South Africa: Stevia Market, by Application
9.1.1.2 Saudi Arabia: Stevia Market – Revenue, and Forecast to 2028 (USD Million)
9.1.1.2.1 Saudi Arabia: Stevia Market, by Type
9.1.1.2.2 Saudi Arabia: Stevia Market, by Application
9.1.1.3 UAE: Stevia Market – Revenue, and Forecast to 2028 (USD Million)
9.1.1.3.1 UAE: Stevia Market, by Type
9.1.1.3.2 UAE: Stevia Market, by Application
9.1.1.4 Rest of Middle East and Africa: Stevia Market – Revenue, and Forecast to 2028 (USD Million)
9.1.1.4.1 Rest of Middle East and Africa: Stevia Market, by Type
9.1.1.4.2 Rest of Middle East and Africa: Stevia Market, by Application
10. Overview- Impact of Coronavirus Outbreak on Middle East and Africa Stevia Market
10.1 Impact of COVID-19 on Stevia Market
10.2 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Product Launch
11.3 Product News
11.4 Strategy and Business Planning
11.5 Merger and Acquisition
12. Company Profiles
12.1 Cargill, Incorporated.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Ingredion Incorporated
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Tate & Lyle PLC
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 The Archer-Daniels-Midland Company
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 S&W Seed Company
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 PureCircle
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word IndexLIST OF TABLES
Table 1. Middle East and Africa: Stevia Market –Revenue and Forecast to 2028 (USD Million)
Table 2. South Africa Stevia Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 3. South Africa Stevia Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 4. Saudi Arabia Stevia Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 5. Saudi Arabia Stevia Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 6. UAE Stevia Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 7. UAE Stevia Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 8. Rest of Middle East and Africa Stevia Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 9. Rest of Middle East and Africa Stevia Market, by Application – Revenue and Forecast to 2028 (USD Million)
Table 10. List of AbbreviationLIST OF FIGURES
Figure 1. Middle East and Africa Stevia Market Segmentation
Figure 2. Stevia Market Segmentation – By Country
Figure 3. Middle East and Africa Stevia Market Overview
Figure 4. Powder Segment Held Largest Share of Middle East and Africa Stevia Market
Figure 5. Rest of MEA Held Largest Share of Middle East and Africa Stevia Market
Figure 6. Middle East and Africa Stevia Market, Industry Landscape
Figure 7. Porter’s Five Forces Analysis
Figure 8. Value Chain: Stevia Market
Figure 9. Expert Opinion
Figure 10. Middle East and Africa Stevia Market Impact Analysis of Drivers and Restraints
Figure 11. Middle East and Africa: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 12. Stevia Market Revenue Share, By Type (2020 and 2028)
Figure 13. Whole Leaf: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 14. Powder: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 15. Liquid: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 16. Stevia Market Revenue Share, By Application (2020 and 2028)
Figure 17. Dairy and Frozen Dessert: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 18. Bakery and Confectionery: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 19. Tabletop Sweeteners: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 20. Beverages: Stevia Market – Revenue and Forecast to 2028 (USD Million)
Figure 21. Others: Stevia Market – Revenue and Forecast To 2028 (USD Million)
Figure 22. Middle East and Africa: Stevia Market, by Key Country – Revenue (2020) (USD Million)
Figure 23. Middle East and Africa: Stevia Market Revenue Share, by Key Country (2020 and 2028)
Figure 24. South Africa: Stevia Market – Revenue, and Forecast to 2028 (USD Million)
Figure 25. Saudi Arabia: Stevia Market – Revenue, and Forecast to 2028 (USD Million)
Figure 26. UAE: Stevia Market – Revenue, and Forecast to 2028 (USD Million)
Figure 27. Rest of Middle East and Africa: Stevia Market – Revenue, and Forecast to 2028 (USD Million)
Figure 28. Impact of COVID-19 Pandemic in Middle East & Africa- Cargill, Incorporated
- Ingredion Incorporated
- Tate & Lyle PLC
- The Archer-Daniels-Midland Company
- S&W Seed Company
- PureCircle
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Middle East and Africa stevia market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Middle East and Africa stevia market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Middle East and Africa market trends and outlook coupled with the factors driving the Middle East and Africa stevia market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution