February 3, 2023

The global stevia sugar blends market size is expected to expand at a promising pace on account of the growing prevalence of diabetes worldwide, observes Fortune Business Insights™ in its report, titled “Stevia Sugar Blends Market Size, Share & Industry Analysis, By Type (White Sugar and Stevia Blend, Brown Sugar and Stevia Blend), By Application (Food and Beverages [Bakery, Beverages, Confectionery, Others (Dairy Products, Frozen Products. and Others)], Dietary Supplements, Others) and Regional Forecast, 2022-2029”. The International Diabetes Federation (IDF) estimates that there were more than 460 million diabetics around the globe in 2019 and by 2045 this number is expected to swell to 700 million. Excessive intake of sugary is the most prominent causes of diabetes and to address the rapid spread of this chronic disease, there is a dire need to develop sugar substitutes that are naturally derived and do not raise blood glucose levels. The stevia plant has emerged as a viable natural sweetener that also has anti-diabetic properties. Approved by the US Food and Drug Administration (FDA), stevia can increase glucose tolerance by a significant margin as well as suppress plasma glucose levels and stimulate insulin production. The potential of stevia derivatives in countering the effects of diabetes is the key factor fueling the adoption of stevia sugar blends.

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What Does The Report Offer?

  • Careful evaluation of the market trends, drivers, and restraints;
  • Thorough examination of the different market segments;
  • Microscopic study of the regional and competitive developments influencing the market growth; and
  • Broad-based understanding of the overall industry outlook and opportunities.

Market Driver

Emergence of Sugar Substitute Startups to Animate Market Spirits

The stevia sugar blends market growth is getting a massive booster shot in the form of startups specializing in the development of sugar substitutes. For example, the Israeli startup Unavoo offers a sweetener derived from stevia that is mixed with fiber from acacia trees to balance the bitterness of stevia. Similarly, Heylo, another Israeli startup, has developed a sweetener named ‘heylo, which unifies the stevia and dietary fibers and is available in three variants, liquid sugar alternative, brown sugar substitute, and white sugar substitute. Another startup, this time from Iceland, Good Good, produces diabetes-friendly offerings made from a blend of stevia and erythritol. Its roster of products includes stevia tablets, stevia drops, keto bar snacks, and an Erythritol & Stevia blend. These entities, with their novel ideas and innovations, are creating path-breaking products for consumers and are indirectly contributing in the global fight against diabetes.

Regional Insights

Rising Incidence of Lifestyle-induced Diseases to Aid the North America Market Growth

North America is slated to lead the stevia sugar blends market growth in the forthcoming years as a consequence of the rapidly increasing prevalence of lifestyle-associated diseases such as diabetes, obesity, and cardiovascular conditions. Erupting from sedentary lifestyles and poor diets, the growing incidence of these conditions is pushing consumers in North America to increase their consumption of low-calorie, low-fat foods, which is stoking the demand for sugar substitutes such as stevia sugar blends.

The spreading awareness about the harmful effects of artificial sugar on the body, rising disposable incomes, and speedy urbanization are factors favouring the market growth in the Asia Pacific region. In Europe, expanding vegan populations and high purchasing power among consumers in the region will propel the market in the foreseeable future.

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Competitive Landscape

Investments in Startups to be the Prominent Feature of Market Competition

The competitive landscape of this market is presently characterized by the investments made into stevia-based startups, which is elevating their innovation capacities. In addition to this, several food industry giants are strategically acquiring other competitors to enlarge their market share and bolster their market position.

Industry Developments:

  • May 2020: The Icelandic natural food startup, Good Good, secured USD 3 million in Series A funding round that will deepen the company’s foothold in the US. The startup specializes in no-sugar foods, including stevia blends, and manufactures its products in Belgium and the Netherlands.
  • April 2020: Ingredion Incorporated announced its agreement with PureCircle Limited, under which Ingredion will acquire a controlling stake of 75% in PureCircle. The deal will bring together PureCircle’s expertise in stevia sweeteners with Ingredion’s plant-based solutions, enabling both to produce novel offerings for consumers.

List of Key Players Covered in the Stevia Sugar Blends Market Report:

  • Whole Earth Sweetener
  • Nіutаng Chemical
  • NОW Foods
  • Sun Fruits
  • Тruvіа
  • Magicleaf Stevia
  • Stevia Biotech Рvt. Ltd
  • Аlmеndrа Stevia
  • Рurеvіа Blends

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