Due to an increasing public demand for natural, healthful alternatives to artificial flavouring, non-GMO products and plant-based sweeteners, Future Market Insights (FMI) analysts anticipate the global stevia market to be worth upwards of more than $500 million by 2020.
Because of this frenzy, Sunwin Stevia, one of the top global suppliers of high-quality stevia extracts, saw an increase of 54% in sales revenues in the 2015 fiscal year as compared to 2014.
Additionally, this public health craze has caused major players in the snack- and breakfast food-industry to rethink the nutritional value of their own products.
General Mills, for example, recently unveiled its line-up of new, health-conscious products to align with a growing consumer interest in wellness, including their new Yoplait Plenti, Nature Valley Toasted Oats Muesli, and Annie’s organic soups.
“General Mills has been growing for more than a century, constantly innovating and investing to meet changing consumer needs,” says Ken Powell, chairman and CEO of the company. “As we enter fiscal 2016, we are keenly aware of our consumers changing food preferences. This presents a tremendous opportunity to create growth for General Mills … we remain deeply committed to following our consumers and adapting our portfolio to their tastes and interests.”
On the other hand, PepsiCo and Coca Cola have recently experienced issues with their aspartame-ridden diet products, with market shares down for both companies. This reflects a growing public disdain for any additives that are not “natural;” bearing this in mind, the two soda giants may need to consider changing their formula to include the ultra-popular stevia and other natural sweeteners.
