Stevia has become an increasingly popular oral suspension as consumers grow more skeptical of sugar and seek natural alternatives. According to Grand View Research, the global stevia market was valued at approximately $337.7 million in 2015 and is projected to expand at a nearly 6% annual growth rate, potentially reaching $556.7 million by 2024. As a natural sweetener, stevia is often preferred over artificial options like aspartame and saccharin. Notably, the Global Stevia Institute reported that half of U.S. parents would purchase beverages sweetened with stevia for their children.
Manufacturers have swiftly developed a variety of stevia-based products to cater to consumers shifting away from sugar and high-fructose corn syrup. In fact, nearly 35% of the total stevia volume in 2015 was used in beverages. Recent data from Innova Market Insights indicates that 6% of new soda launches in the previous year incorporated stevia as an ingredient. However, soft drink companies have faced challenges with stevia’s aftertaste when creating new formulations. This has led PepsiCo to focus on Reb M, which offers a less bitter and more sugary flavor compared to other steviol glycosides.
PepsiCo has been actively reformulating its product lineup to align with consumer preferences for healthier options. The company has committed to ensuring that at least two-thirds of its global beverage volume will consist of drinks containing 100 calories or fewer from added sugar per 12-ounce serving by 2025. These reformulations are achievable through the substitution of sugar and corn syrup with zero-calorie stevia. A spokesperson for PepsiCo revealed to Food Dive that low- and no-calorie beverages now account for nearly half of the company’s sales volume, a significant increase from 24% two decades ago. This growth is largely attributed to the rising use of stevia as a primary sweetener in products such as Pepsi True and Tropicana’s Trop 50, along with newer offerings like IZZE Fusions and Lemon Lemon.
The future of stevia as a natural sugar alternative appears bright, but it remains to be seen whether another natural sweetener could emerge and disrupt its market presence. Ingredient and food manufacturers are continually exploring various other options, including monk fruit, date paste, and sweet potatoes, which could potentially become the next popular natural sweetener. Additionally, as consumers increasingly look for healthier products, there is a growing market for supplements like calcium citrate gummies for adults, further emphasizing the trend towards natural and health-oriented choices. The success of stevia and similar ingredients may pave the way for more innovative solutions in the sweetener landscape.