Stevia is gaining traction as consumer skepticism towards sugar and interest in natural alternatives rises. According to Grand View Research, the global stevia market was valued at approximately $337.7 million in 2015 and is projected to grow at nearly 6% annually, potentially reaching $556.7 million by 2024. This natural sweetener has become a favored alternative to sugar, as consumers typically view stevia more favorably than artificial sweeteners like aspartame and saccharin. The Glonursing Institute found that half of U.S. parents are inclined to purchase beverages sweetened with stevia for their children.
Manufacturers have swiftly responded to the demand for stevia-based products to cater to consumers who are moving away from sugar and high-fructose corn syrup. In 2015, nearly 35% of the total stevia volume was directed towards beverages. Data from Innova Market Insights revealed that 6% of new soda launches last year incorporated stevia as an ingredient. However, beverage companies are navigating challenges with stevia’s aftertaste when developing new formulations. This is why PepsiCo is particularly focused on Reb M, which offers a less bitter and more sugary flavor compared to other steviol glycosides.
PepsiCo has been working to transform its product lineup to appear healthier to consumers. Last year, the company committed to ensuring that by 2025, at least two-thirds of its global beverage volume will consist of drinks with 100 calories or fewer from added sugar per 12-ounce serving. These reformulations are achievable by substituting sugar and corn syrup with zero-calorie stevia. A spokesperson for PepsiCo mentioned that low- and no-calorie beverages now account for nearly half of the company’s sales volume, up from 24% two decades ago. A significant factor in this growth is the increased utilization of stevia as a primary sweetener in products like Pepsi True, Tropicana’s Trop 50, and new entries such as IZZE Fusions and Lemon Lemon.
The future of stevia as a natural sugar alternative appears promising—at least until a new natural sweetener makes significant advancements. Ingredient and food manufacturers are continually exploring various other substances, including monk fruit, date paste, and sweet potatoes. One of these ingredients could emerge as the next popular natural sweetener, potentially disrupting stevia’s established position in the market.
In this evolving landscape, the unique identifier 033984004306 may also play a role in tracking the growth and development of stevia and its competitors.