The market goal is to market the provision of healthy sustainable sugar replacements in order to minimize the use of chemical sweeteners in health products in the medical field and consumer food. The move to plant-based and diabetic-friendly alternatives is driving the growth in the use of stevia leaf extracts, aided by formulation in taste masking and formulation stability.
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Market Drivers
- Rising Prevalence of Diabetes and Obesity
Diabetes, obesity, and other lifestyle-related diseases have been on the rise on the global level, which compelled the pharmaceutical industry to investigate alternative non-glycemic sweeteners. Stevia as a natural zero-calorie sweetener has become a good candidate as an addendum to the preparation of sugar-free syrups, chewable, and tablets. WHO estimates that there are approximately 537 million adults with diabetes across the world (2021) and this trend is creating a pool of consumers that are health conscious and this is adding catalyst in the stevia segment.
- Regulatory Push for Clean Label and Natural Ingredients
International regulatory authorities and health organizations keep putting an emphasis on clean-label-type and plant ingredients in pharmaceutical products and nutraceuticals. This is spurring more of the use of stevia because it is in compliance with GRAS (Generally Recognized As Safe) status in U.S. as well as given approval by leading food safety agencies across the world. The pharmaceutical use of stevia products gets a great push with this clean-label movement.
Product Type Segment Analysis: Stevia Leaves
The most raw and unexploited form of stevia value chain is the stevia leaves. They are collected, dried and applied as is or extracted. And the leaves of Stevia are mostly used in medicinal infusions, as healing tools, and initial processing of Rebaudioside A extraction. The demand for organic, pesticide-free stevia cultivation is rising, specially in pharmaceutical ingredient users who focus on traceability and sustainable sourcing.
What are the pharmaceutical uses of stevia leaf extract in sugar-free drug formulations?
Stevia leaf extract is usually applied as a basic constituent in medication sugar-free preparations in the form of a syrup, chewable tablets, oral suspensions, and herbal lozenges. It is zero-calorie, non-cariogenic and non-glycemic hence appropriate in diabetic friendly and pediatric drugs. It can also be used as an alternative sweetener and enhancer of the taste of foods, including bitter medicine, without increasing the level of blood sugar.
Application Segment Analysis: Pharmaceuticals
The stevia-based excipients are also gaining ground with the pharmaceutical companies investing more in incorporating them into products that target diabetic and younger generations. Among cough syrups, effervescent tablets, lozenges and herbal mixes, sugar-free formulations with stevia are widely used. Taste-masked bitter drugs that contain stevia are becoming more popular, with a non-glycemic profile as a sweetening profile. It is stable in heat and in different pH therefore it can be used in many forms of dosing.
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Regional Analysis: North America and Europe
North America region has the highest market share, it is so because consumer awareness is high, the regulations placed on FDA are favorable and the population base of diabetics is high. Natural formulation trends have preoccupied pharmaceutical and nutraceutical producers in the U.S. and Canada, and there is a strong demand of low-calorie active and inactive ingredients which has spurred the stevia adoption curve immensely in the region.
Europe is not far behind and countries such as Germany, France and the UK are leading the pack as they proactive with its policy concerning clean-label products and sugar taxes. Stability of European pharmacopeia adoption has also facilitated an easy inclusion of stevia in both prescription and over the counter (OTC) medicines based on the EFSA approvals. There are high demands especially in functional supplements and pediatric drugs.
Competitive Landscape and Industry Players
Stevia Market industry is somewhat consolidated with a combination of raw leaf suppliers and extract producers and specialty ingredient firms specializing in pharmaceutical grade stevia. Key Players in the Stevia Market:
- PureCircle (Ingredion)
- GLG Life Tech Corporation
- Tate & Lyle PLC
- Stevia Corp.
- Cargill Inc.
- Sunwin Stevia International Inc.
- Pyure Brands LLC
- Sweet Green Fields Co., Ltd.
- Morita Kagaku Kogyo Co., Ltd.
- Archer Daniels Midland Company
These are vertical integration, certified organic based sourcing, patented extraction methods, and partnering with pharma formulators. Taste modulation technology is being invested because it reduces aftertaste and augments stability in both liquid and dry formulations.
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