Yerba Mate Is Estimated To Witness High Growth
The 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 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis:
- Strength: Yerba Mate has various health benefits such as increased energy levels, weight loss, reduced risk of certain cancers and improved mood. It is widely consumed in South American countries and its export is increasing globally. It is easily available in loose leaf, tea bag and bottled forms.
- Weakness: Yerba Mate contains caffeine that can cause side effects like anxiety, insomnia and restlessness in some people. Its strong flavour may not appeal to all. Limited awareness about its health benefits in regions outside of South America.
- Opportunity: Rising health consciousness is increasing the demand for natural energy drinks and beverages. Growing preferences for plant-based products offer opportunities for Yerba Mate producers to market it as a healthy caffeine alternative to coffee and replace carbonated drinks.
- Threats: Stringent regulations regarding commercialization and health claims of food and beverages pose challenges. Fluctuations in crop harvests due to climate change can impact supply and prices. Competition from other caffeinated beverages limits its market growth potential.
Key Takeaways:
The Global Yerba Mate Market Size is expected to witness high growth, exhibiting CAGR of 5.7% over the forecast period, due to increasing popularity of plant-based energy drinks with perceived health benefits. The market size for 2023 is US$ $2,311.45 Mn.
Regional analysis South America dominates the global Yerba Mate market currently, accounting for over 80% of global production led by Brazil, Argentina and Paraguay. North America is the fastest growing region due to rising health consciousness and changing dietary patterns. Europe is another major consumer market for Yerba Mate.
Key players operating in the Yerba Mate market are Guayakí, Amanda, Las Marías, and Kraus. Guayakí is the leading brand in North America while other regional players like Amanda and Las Marias have strong presence in South American markets. Yerba Mate producers are focusing on new product launches with varied flavours and packaging formats to appeal to diverse customer segments globally.
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