GCC Stevia Market

GCC Stevia Market Overview:

The GCC Stevia Market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. The market is projected to register a CAGR of X% during 2023-2028 reaching US$ XX Billion by 2028. Stevia is a natural sweetener that is widely extracted from the Stevia Rebaudiana plant. It is a food additive that is sweeter than table sugar. It is a natural alternative to artificial sweeteners that is calorie-free and generally used to sweeten a wide variety of foods and beverages, including coffee, tea, smoothies, yogurt, cereals, and baked goods. It provides numerous health benefits, such as reduced blood pressure and improved blood sugar control, making it an excellent option for diabetic patients. It is a good source of antioxidants that aids in protecting against inflammation and free radical damage. Apart from this, it is known to have a beneficial effect on gut bacteria that helps in improving digestion. It is available in many forms, including liquid, powder, and granular, and in a variety of flavors, such as mint, cinnamon, and chocolate.

The market in GCC is majorly driven by the rising health consciousness among the masses. This can be supported by the escalating number of individuals suffering from diabetes and obesity and the growing awareness regarding the negative health effects of sugar. This has encouraged numerous leading manufacturers to produce low-calorie variants of food for their consumers to strengthen their market position. Coupled with this, the widespread adoption of sweeteners in bakery food products for enhancing their flavor and increasing the product’s shelf life is providing thrust to the market. In addition, increasing investments in research and development (R&D) activities to enhance stevia's medicinal and herbal properties are acting as another growth-inducing factor. Moreover, the accelerating demand of the masses for clean labels or natural food products is creating a positive market outlook. Furthermore, the easy product availability via online and offline organized distribution channels and the advent of home delivery models are significantly supporting the product demand on the global level. Some of the other factors driving the market include the changing dietary patterns and shifting lifestyle preferences.

Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC stevia market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC stevia market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC stevia market in detail for latest trends, outlook and opportunities.

The report analyses the competitive structure of the GCC stevia market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC stevia market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC stevia market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC stevia market industry. Furthermore, the value chain analysis of the GCC stevia market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution. 

GCC Stevia Market Segment Insights:

The GCC stevia market has been analysed as followed:

Segmentation by Extract Type:

• Powder
• Liquid
• Leaf

Segmentation by End-Use:

• Beverages
• Food
• Table Top Sweeteners
• Pharmaceuticals
• Others

Segmentation by Country:

• Saudi Arabia
• United Arab Emirates
• Qatar
• Kuwait
• Oman
• Bahrain

Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.

Competative Landscape: 

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Highlights of the GCC Stevia Market Report:

• Historical and current scenario
• Trends and developments
• Market forecast
• Impact of COVID-19
• Price analysis and forecast
• Porter’s five forces analysis
• SWOT analysis
• Value chain analysis

Report Customization:

The GCC stevia market report can be customized as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs.