Newark, May 17, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.6 billion in 2022 yerba mate market will reach USD 2.5 billion by 2032. The yerba mate industry is growing due to rising customer demand for nutritious and useful goods. Yerba mate is often praised for its health advantages, which include its ability to provide a natural supply of caffeine, antioxidants, and other minerals. It may potentially have anti-inflammatory and anti-cancer effects. Furthermore, many yerba mate manufacturers are dedicated to sustainable farming practices, such as agroforestry, which can improve the condition of the soil, reduce greenhouse gas emissions, and promote biodiversity. This dedication to sustainability can be an important consideration for environmentally conscious customers.
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Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 1.6 Billion |
| Market Size in 2032 | USD 2.5 Billion |
| CAGR | 4.8% |
| No. of Pages in Report | 236 |
| Segments Covered | The research segment is based on Product, Distribution Channel, Regions. |
| Drivers | Customers are increasingly looking for natural and organic items as they become more aware of the negative effects that synthetic chemicals have on the environment and their health. |
| Opportunities | There is a chance for businesses to create new yerba mate products and formulas, including flavorful blends or functional drinks with additional vitamins or minerals. |
| Restraints | The market's potential for expansion can be constrained by this ignorance. |
Key Insight of the Yerba Mate Market
South America is anticipated to expand at the highest CAGR of 5.4% over the projection period.
South America is expected to grow at the highest CAGR of 5.4% over the forecast period. The yerba mate market in South America is the largest and fastest-growing market for the beverage. The most common way to consume yerba mate in South America is as loose leaf, which is cooked in a gourd or a unique cup called a mate. Tea bags and RTD forms, which have grown in popularity recently, are also part of the South America yerba mate market.
In the yerba mate market, powder segment dominated the market with the highest market share of 31.4% in 2022.
With the highest market share of 31.4% in 2022, the powder category led the global market. Within the yerba mate industry, the yerba mate powder segment is expanding. Yerba mate powder is a more convenient way to consume yerba mate than the conventional way. Users may simply combine the powder with hot water and consume it like tea or coffee instead of preparing a traditional gourd and straw.
In the yerba mate market, organic segment dominated the market with the highest market share of 62.3% in 2022.
With the highest market share of 62.3% in 2022, the organic category led the global market. The organic sector of the yerba mate market is expanding due to customer desire for organic and sustainable products. Organic yerba mate is frequently recommended for its health advantages since it is said to have antioxidant characteristics and can be a natural source of caffeine and other minerals. Furthermore, organic certification may indicate that the product is free of potentially hazardous substances, which may be important to consumers who are health conscious.
In the yerba mate market, the beverages and food segment is expected to grow with the fastest CAGR of 6.4% over the forecast period.
The beverages and food segment is expected to grow with the fastest CAGR of 6.4% over the forecast period. The beverage and food sector of the yerba mate industry is expanding as more companies produce new and unique yerba mate-infused products. Companies are creating new and inventive yerba mate-infused goods, such as energy bars and useful snacks. This invention is assisting in expanding the market for yerba mate beyond conventional tea users.
In the yerba mate market, the online segment is expected to grow with the fastest CAGR of 6.8% over the forecast period.
The online segment is expected to grow with the fastest CAGR of 6.8% over the forecast period. Customers have the convenience of purchasing online from the ease of their homes to buy yerba mate items. This convenience component has helped the online yerba mate business develop especially in nations where traditional retail channels could be more difficult to reach. Additionally, yerba mate products may become more widely available and well-liked outside of South America due to the online yerba mate market's potential to reach an international consumer base.
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Market Dynamics
Driver
There is rising interest among customers all over the world in traditional drinks like yerba mate due to its lengthy history and cultural significance in South America. The desire to encounter new and unique tastes as well as cultural differences contributes to this interest. Additionally, businesses are constantly coming up with new ideas and creating new products to meet the shifting needs and preferences of customers. This includes new yerba mate tastes and preparations, new package designs, and marketing techniques to appeal to various customer groups.
Opportunity
Companies have the chance to collaborate with other companies or food and beverage businesses to develop co-branded yerba mate products. This could aid in yerba mate's spread and introduction to new markets. For instance, yerba mate brands and energy drink or beer firms have already partnered.
Some of the major players operating in the yerba mate market are:
• Santo Pipó
• LauroRaatz
• Aguantadora
• Kraus Yerba Mate
• CBSe
• Romance
• Rosamonte
• Selecta
• La Virginia
• Triunfo
• Mate Factor
• Wisdom Natural
• Guyaki
• Amanda
• Andresito
• Molinos
• Canarias
• La Tranquera
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Key Segments cover in the market:
By Form
• Powder
• Loose Leaf
• Concentrate
• Extracts
• Others
By Nature
• Organic
• Conventional
By Application
• Beverages and Food,
• Functional Foods,
• Personal Care,
• Bakery Products,
• Confectionery,
• Dressings,
• Sports Nutrition,
• Dietary Supplements,
By Distribution Channel
• Online
• Offline
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