According to a new report by EMR titled, ‘Middle East and Africa Stevia Market Report and Forecast 2019-2024’, the Middle East and Africa stevia market is being driven by the growing global stevia market, which recorded a value of nearly USD 480 million in 2018. It is further expected to grow at a CAGR of 8.5% between 2019 and 2024.

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In the Middle East and Africa stevia market, the demand for stevia is increasing gradually with the growing awareness about sugar consumption related diseases. With the Standardisation Organisation (GSO) of the Gulf Cooperation Council (GCC) approving the use of steviol glycosides, an active stevia compound, in foods and beverages in 2015, the application of stevia in diverse products like canned food, baked products, and non-alcoholic beverages, among others, has increased rapidly.

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In countries like Saudi Arabia and the UAE, the high imposition of tax on sugar by the governments has resulted in an increased demand for a low-calorie ingredient like stevia, thus, aiding the market further. In South Africa, after the implementation of a sugary beverage tax in April 2018, Coca-Cola has reduced the consumption of sugar in their beverages by 26%. Moreover, in May 2018, Coca-Cola, in partnership with PureCircle (LSE: PURE), launched Coca-Cola Stevia No Sugar, its first-ever product sweetened solely with stevia, in New Zealand, which would soon be available in the different regions, thus, further aiding the global stevia market. The increasing innovation in the food and beverage sector is driving the market further. In 2018, Tate & Lyle PLC (LON: TATE), launched its first premium Reb M stevia sweetener- TASTEVA® M, which is healthy and tastes great as well, further opening new horizons for the production of sugar-free products.

Market Breakup by Type:

1. Leaf
2. Powder
3. Liquid

Stevia, based on its extract type, can be divided into leaves, powder, and liquid forms.

Market Breakup by Application:

1. Food and Beverages
2. Oral Care
3. Pharmaceutical
4. Tabletop Sweetener
5. Others

Food and beverages, oral care, pharmaceutical, and tabletop sweetener, among others, are the common application sectors for stevia.

Market Breakup by Region:

1. Saudi Arabia
2. United Arab Emirates
3. South Africa
4. Turkey
5. Others

Saudi Arabia, the UAE, South Africa, and Turkey, among others, are the major regional markets in the Middle East and Africa stevia market.

Key Findings of the Report:

1. The increasing health consciousness among consumers, along with the rise in demand for low-calorie products, is propelling the stevia market forward.
2. The imposition of tax on sugar in various countries by the governments is further propelling the stevia market in the region.
3. With the increasing popularity of energy drinks in the beverage sector, the companies are producing stevia-based products due to their low-calorie content, further aiding the market.
4. The rising demand for natural or plant-based products over the artificial ones is providing further impetus to the market.

Key Offerings of the Report:

1. The EMR report gives a detailed analysis of the extract type, application, and regions for the Middle East and Africa stevia market for the periods (2014-2018) and (2019-2024).
2. The report by EMR also offers a thorough assessment of the regional historical (2014-2015) and forecast (2019-2024) price trends of stevia.
3. The report provides an assessment of the market based on the Porter’s Five Forces model along with a SWOT and value chain analysis.

Related Links:

https://www.expertmarketresearch.com/reports/natural-sweeteners-market
https://www.expertmarketresearch.com/reports/high-intensity-sweeteners-market
https://www.expertmarketresearch.com/reports/asia-pacific-natural-sweeteners-market
https://www.expertmarketresearch.com/reports/sugar-and-high-fructose-corn-syrup-market

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