Yerba mate is in huge demand due to the growing need for safer, organic, healthier supplement substitutes for animal-based products. Major market players focus more on new product development, partnership, and other strategies to increase market share. Furthermore, the increasing adoption rate of these supplements will influence the growth of the yerba mate market during the forecast period 2023-2030.
Data Bridge Market Research analyses that the Yerba Mate Market will grow at a CAGR of 4.9% from 2022 to 2029.
" Rising Awareness About Health Benefits Of Yerba Mate Surge the Market Growth"
Consumers are seeking new types of tea and beverages to satisfy their taste buds and health needs. Yerba mate has numerous health advantages, including high antioxidants and minerals, enhancing energy and improving mental focus, weight loss, belly fat reduction, immune function, and lowering blood sugar levels. As per the data from 'China's General Administration of Customs, in 2021, China imported almost 100,000 kg of yerba, 89,000 kg of which came from Argentina. Thousands of individuals consume yerba mate in numerous regions worldwide because of its nutritional benefits and several consumption options. This can be consumed as a plant-based, wellness beverage, or energy drink, boosting the market in the forecast period. Thus, this factor boosts market growth.
What restraints the growth of the Global Yerba Mate Market?
" Difficulty in the Cultivation of Yerba Mate"
Yerba mates favor humid, hot climates that grow plenty of rainfall. If the humidity in the area is less than 50%, the plant probably won't survive. A huge amount of spring rain slows crop establishment, interrupts planting, surges the prevalence of numerous fungal and bacterial crop diseases, and might cause labor problems because of delaying field operations. Additionally, this production is a process that may take at least five years from seed to drink. All these major factors impede the growth of the market.
Segmentation: Global Yerba Mate Market
The global yerba mate market is segmented on the basis of type, form, product type, nature, application, and distribution channel.
- On the basis of type, the yerba mate market is segmented into Argentinian yerba mate, Brazilian yerba mate, Paraguayan yerba mate, Uruguayan yerba mate, and others.
- On the basis of form, the yerba mate market is segmented into powder, loose leaf, concentrate, extracts and others.
- On the basis of product type, the yerba mate market is segmented into regular and freeze dried.
- On the basis of nature, the yerba mate market is segmented into organic and conventional
- On the basis of application, the yerba mate market is segmented into beverages, food, functional foods, personal care, bakery products, confectionery, dressings, sports nutrition, dietary supplements, dairy products and dairy alternative.
- On the basis of distribution channel, the yerba mate market is segmented into direct and indirect.
Regional Insights: North America is expected to dominate the Global Yerba Mate Market
North America dominates the market because of the easy availability of many yerba mate-based products and their increasing popularity among students. The rapid growth of health and wellness and curiosity around flavor led to market growth. Also, the wide presence of a large production, increasing consumer base, and the social significance related to the drink enhance the market growth.
Asia-Pacific is expected to grow in the forecast period of 2022-2029 due to the rising health consciousness among consumers and the need for coffee and tea substitutes. The increasing middle-class population and greater health consciousness lead to market growth.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-yerba-mate-market
The Prominent Key Players Operating in the Global Yerba Mate Market Include:
- Herboflora (India)
- Vita Forte Inc. (U.S.)
- Lauro Raatz SA (Paraguay)
- Triunfo do Brasil (Brazil)
- Mate Factor (U.S.)
- Guyaki Yerba Mate (U.S)
Above are the key players covered in the report, to know about more and exhaustive list of global yerba mate market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Yerba Mate Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
