In February 2022, Research Published in National Library of Medicine Discovered that the Brazilian Yerba Mate Samples Used to Make the Infusion Had the Highest Antioxidant Activity

In 2021, China imported almost 100,000 kg of Yerba, 89,000 kg of which came from Argentina, according to data from 'China's General Administration of Customs. Due to its nutritional benefits and several consumption options, thousands of individuals in various nations consume yerba mate worldwide. Yerba mate can be consumed as a plant-based energy drink and wellness beverage, propelling the market in the forecast period.

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The Global Yerba Mate Market is expected to reach USD 3,090.03 million by 2030 from USD 1,506.86 million in 2022, growing with a substantial CAGR of 9.40% in the forecast period of 2023 to 2030. Rising awareness about the health benefits of yerba mate is an important driver for the global yerba mate market. Technological advancements in the market and a rise in demand in the beauty and healthcare industry are expected to propel the global yerba mate market growth. The introduction of new flavors and growing organic trends, are expected to provide opportunities in the global yerba mate market. However, fluctuating prices and side effects associated with yerba mate are projected to challenge the market growth.             

Rising awareness about the health benefits of yerba mate across the world, will drive the market's growth rate

Nowadays, consumers are seeking new types of tea & beverages to satisfy their taste buds and health needs. Drinking tea continues to be extremely relevant across consumer groups. Yerba mate has many health advantages, including high antioxidants and minerals, boosting energy and improving mental focus, weight loss, and belly fat reduction, enhancing immune function, and lowering blood sugar levels. Thus, an increasing consumer base is fostering the growth of the market. Also, rising awareness regarding the health benefits are some factors that will enhance the growth of the yerba mate market in the forecast period.   

Report Scope and Market Segmentation

Segment Analysis:

The global yerba mate market is segmented into six notable segments based on type, form, product type, nature, application and distribution channel.

• On the basis of type, the global yerba mate market is segmented into Argentinian yerba mate, Brazilian yerba mate, Paraguayan yerba mate, Uruguayan yerba mate, and others. In 2022, the Argentinian yerba mate segment is expected to dominate the global market with a 47.33% market share because it boosts energy, improves mental focus, and enhances physical performance. The mate is rich in antioxidants and nutrients and protects against infections.
• On the basis of form, the global yerba mate market is segmented into powder, loose leaf, concentrate, extracts, and others. In 2022, the powder segment is expected to dominate the global yerba mate market with a 34.48% market share because of the increasing awareness about the importance of yerba mate in health benefits.
• On the basis of product type, the global yerba mate market is segmented into regular and freeze dried. In 2022, the regular segment is expected to dominate the global yerba mate market with a 69.57% market share because regular yerba mates ease depression and help treat headaches and various other conditions. In addition, the regular yerba mate offers beneficial properties such as relieving fatigue and aiding in weight loss. 
• On the basis of nature, the global yerba mate market is segmented into organic and conventional. In 2022, the organic segment is expected to dominate the global yerba mate market with a 62.05% market share because organic yerba mate  are naturally caffeinated and offers a potent mix of antioxidants that help protect against certain types of cancers, and more.
• On the basis of application, the global 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. In 2022, the beverages segment is expected to dominate the global yerba mate market with a 47.91% market share because drinking yerba mate beverages such as coffee and tea offer immeasurable health benefits and boost energy.

The beverages segment will dominate the application segment of the yerba mate market

The beverages segment will emerge as the dominating segment application segment. This is because of the growing number of food & beverages processing industries in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.

• On the basis of distribution channel, the global yerba mate market is segmented into direct and indirect. In 2022, the direct segment is expected to dominate the global yerba mate market with a 57.12% market share because direct distribution allows brands to build genuine relationships with the end users of their products. Moreover, a direct distribution channel gives the ability to promote, display, and deliver the products.

The direct segment will dominate the distribution channel segment of the yerba mate market

The direct segment will emerge as the dominating segment under distribution channel. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the food and beverages industry all around the globe will further bolster the growth of this segment.

Major Players         

Data Bridge Market Research recognizes the following companies as the market players in market: Herboflora (India), Vita Forte Inc. (U.S.), Darka Company s.r.o. (Czech Republic), ESTABLECIMIENTO LAS MARIAS (Argentina), Lauro Raatz SA (Paraguay), Triunfo do Brasil (Brazil), Mate Factor (U.S.).

Market Development

• In September 2020, Vessl, Inc. introduced three new flavors of their ready-to-drink bottled tea brand Tea of a Kind, including Mango Yerba Mate, Prickly Pear Yerba Mate, and Blackberry Basil Yerba Mate. Along with this line extension, Tea of a Kind has expanded its distribution network into Canada and added nine new states in the United States.
• In April 2021, Honest Tea expanded its bottled beverage portfolio by introducing Honest Yerba Mate. The new caffeinated ready-to-drink (RTD) has 60 calories and 13g of sugar in each 16oz can. Honest Yerba Mate offers roughly the same amount of caffeine as an 8oz cup of coffee with its distinctive flavor combinations.

Regional Analysis

Geographically, the countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

As per Data Bridge Market Research analysis:

Latin America is the dominant region in yerba mate market during the forecast period 2023 to 2030

According to estimates, Latin America is one of the key geographical markets for yerba mate. Some of the world's biggest yerba mate producers and consumers are nations like Brazil, Paraguay, Uruguay, and Argentina.  

Asia-Pacific is estimated to be the fastest-growing region in yerba mate market the forecast period 2023 to 2030

The yerba mate market will experience the fastest growth in Asia-Pacific. The growing middle-class population, shifting consumer lifestyles, and greater health consciousness bring this on. Throughout the forecast period, the cosmetic and personal care industry is anticipated to drive market demand in the area.    

COVID-19 Impact

The travel disruption interferes with business planning and teamwork, which has an impact on the industrial sector. The offline market had considerable losses because of closures and advisories against moving outside to mitigate the COVID-19 effect, while the internet market has experienced increased growth. Additionally, the market is expanding swiftly due to the decrease in COVID instances globally. Therefore, it is anticipated that the industry will grow considerably following COVID-19.

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