The global stevia market is projected to grow at a single-digit compound annual growth rate (CAGR) during the forecast period, accounting for US$565.2 million (€505.8m) by 2020, according to a report from market analysts Future Market Insights. The report, "Stevia Market: Global Industry Analysis and Opportunity Assessment 2014-2020," says shifting consumer preference for natural sweeteners is a major factor driving growth of the market. Additionally, stevia extracts are finding increasing application in soft drinks and juices, ice creams and various other products. This is attributed to its high-intensity natural sweetness properties. Due to these factors, share of the stevia market is expected to account for around 15 per cent of the overall sweetener market by 2020.
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