The global Yerba Mate Market is estimated to be valued at US$ 2,311.45 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Yerba mate is an herbal caffeine-rich infusion that has been consumed as a beverage for centuries in South American countries like Argentina, Uruguay, southern Brazil and Paraguay. Yerba mate helps to boost energy levels naturally and has positive effects on mental alertness, focus and attention without the health risks associated with highly caffeinated beverages. It is gaining popularity in the developed markets as a healthier alternative to coffee or energy drinks.
Market key trends:
One of the key trends driving the yerba mate market is the growing demand for natural energy boosters among health-conscious consumers. With increasing health awareness, people are more inclined towards plant-based ingredients that impart energy in a natural way. The antioxidant compounds in yerba mate help neutralize free radicals in the body, thereby protecting cells from damage. It also enhances metabolism that contributes to weight management. Moreover, regular consumption of yerba mate has potential health benefits such as reduced risk of non-communicable diseases including cancer and diabetes.
Segment Analysis:
The global yerba mate market is segmented by type, form, application, and distribution channel. Based on type, dried yerba mate leads the market and accounts for more than 70% share. It is popular as a traditional form of the product and finds widespread application in the preparation of infusions and cold beverages. By form, the powder segment dominates the market due to its ease of use and ability to blend with various food and beverages. In terms of application, food and beverage is the key end-use industry of yerba mate. The rising demand for functional beverages with health benefits is driving this segment.Offline distribution channels such as hypermarkets/supermarkets and specialty stores cumulatively make up a major share in the global market owing to consumers' preference for one-stop shopping experience.
Key Takeaways:
The Global Yerba Mate Market Demand is expected to reach US$ 2,311.45 Mn by 2030, expanding at a CAGR of 5.7% over the forecast period. Growing awareness about the medicinal properties and health benefits of yerba mate is the primary driver of market growth.
Regionally, Latin America dominates the global yerba mate market, accounting for over 80% share. Countries like Argentina, Brazil, and Paraguay are among the top producers and consumers of yerba mate. North America is projected to witness the fastest growth during the forecast period due to increasing popularity of organic and herbal beverages in the region.
Key players operating in the yerba mate market are Guayakí, Amanda, Las Marías, and Kraus. Guayakí is market leader with widest distribution network across Americas. Kraus is building presence through unique packaging and new flavor offerings. Meanwhile, Las Marías and Amanda cater to specific demographics with their traditional yerba mate products and focus on domestic consumption.
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