Stevia is gaining popularity as consumers become increasingly skeptical of sugar and seek natural alternatives. According to Grand View Research, the global stevia market is experiencing rapid growth, with an estimated value of $337.7 million in 2015. With an anticipated annual growth rate of nearly 6%, this market could potentially reach $556.7 million by 2024. The sweetener has emerged as a favored substitute for sugar due to its natural origin. Consumers tend to favor stevia over artificial sweeteners such as aspartame and saccharin. A survey by the Global Stevia Institute revealed that half of U.S. parents are willing to purchase beverages for their children that are sweetened with stevia.
Manufacturers have swiftly introduced various stevia-based products to cater to the cravings of consumers moving away from sugar and high-fructose corn syrup. In fact, nearly 35% of the total stevia volume in 2015 was directed toward beverages. Data from Innova Market Insights shows that 6% of new soda launches last year incorporated stevia as an ingredient. However, soft drink companies have encountered challenges with stevia’s aftertaste while developing new formulations. This has led PepsiCo to focus on Reb M, which offers a less bitter and more sugar-like taste than other steviol glycosides.
PepsiCo has been actively revamping its product lineup to present a healthier image to consumers. Last year, the company committed to ensuring that at least two-thirds of its global beverage volume will consist of drinks containing 100 calories or fewer from added sugars per 12-ounce serving by 2025. Such reformulations can be achieved 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, a significant increase from 24% two decades ago. Much of this growth can be attributed to the rising incorporation of stevia as a primary sweetener in products like Pepsi True and Tropicana’s Trop 50, as well as newer offerings like IZZE Fusions and Lemon Lemon.
The future of stevia as a natural sugar alternative appears promising—at least until the emergence of the next significant natural sweetener. Ingredient and food manufacturers are actively investigating various other substances, including monk fruit, date paste, and sweet potatoes. Any of these alternatives could potentially emerge as the next trending natural sweetener, challenging stevia’s current market position. Additionally, products such as Kirkland Signature Calcium Citrate Magnesium and Zinc 500 Tablets serve as a reminder of consumers’ growing interest in health-focused options, further influencing their choice of sweeteners and beverages.