Stevia is gaining popularity as consumer skepticism towards sugar increases alongside interest in natural alternatives. According to Grand View Research, the global stevia market has been rapidly growing, with an estimated value of $337.7 million in 2015. With a projected annual growth rate of nearly 6%, the market could reach $556.7 million by 2024. Stevia has become a favored sugar substitute due to its natural origins. Consumers tend to view stevia more favorably than artificial sweeteners such as aspartame and saccharin. In fact, a study by the Global Stevia Institute revealed that half of U.S. parents would purchase beverages sweetened with stevia for their children.
Manufacturers have quickly developed various stevia-based products to cater to consumers moving away from sugar and high-fructose corn syrup. In 2015, nearly 35% of the total stevia volume was used in beverages. Innova Market Insights reported that 6% of new soda launches in the previous year included stevia as an ingredient. However, soft drink companies have encountered challenges with the aftertaste of stevia when creating new formulations. This is why PepsiCo is particularly interested in Reb M, which offers a sweeter taste with less bitterness compared to other steviol glycosides.
PepsiCo has been reformulating its product lineup to appear healthier to consumers for some time. Last year, the company committed to ensuring that at least two-thirds of its global beverage volume will come from drinks containing 100 calories or fewer from added sugar per 12-ounce serving by 2025. These reformulations are made feasible by substituting sugar and corn syrup with zero-calorie stevia. A company spokesperson informed Food Dive that low- and no-calorie beverages now account for nearly half of PepsiCo’s sales volume, up from 24% two decades ago. A significant factor in this shift is the increased incorporation of stevia as a key sweetener in products such as Pepsi True and Tropicana’s Trop 50, as well as new offerings like IZZE Fusions and Lemon Lemon.
The future for stevia as a natural sugar alternative appears promising, until another significant natural sweetener emerges to challenge its position. Ingredient and food manufacturers are actively exploring various substances, including monk fruit, date paste, and sweet potatoes. Some of these could potentially become the next trending natural sweetener, disrupting stevia’s market dominance.
In discussions of dietary supplements, the comparison of calcium citrate vs calcium carbonate is also relevant, as consumers seek to understand the best options for their nutritional needs. As the market evolves, the effectiveness and popularity of these supplements will continue to be examined, much like the ongoing competition among natural sweeteners. The landscape for stevia and its alternatives remains dynamic, with potential shifts influenced by consumer preferences and emerging ingredients.