Global Yerba Mate Market Is Estimated To Witness Significant Growth Owing To Growing Awareness Regarding Health Benefits Of Yerba Mate And Increased Use In The Production Of Teas

Yerba Mate Market

Overview:

The yerba mate plant (Ilex paraguariensis) is widely drunk as a beverage in Argentina, Uruguay and other South American countries. It is a stimulant similar to coffee and tea, whereas it also has several medicinal properties. It is a popular choice among energy drinkers who are looking for a balanced boost that doesn't interfere with sleep or cause caffeine jitters. Yerba mate has a diuretic effect, helping the body eliminate toxins and purify itself naturally. It stimulates bowel movements and inhibits the antidiuretic hormone arginine vasopressin, resulting in a natural, healthy elimination process that helps reduce fluid retention and bloating. Its compounds are also known to prevent the proliferation of Malassezia furfur, a yeast that causes skin rashes and dandruff.

Market Dynamics:

Rising product launches are estimated to augment growth of the global yerba mate market during the forecast period. For instance, Canada’s leading organic energy drink brand, GURU Organic Energy Corp., launched GURU Yerba Mate in May 2021, in the U.S. market. This is a top ranking plant-based energy drink and it will appeal to consumers looking for healthy alternatives. Moreover, increasing cultivation of yerba mate is anticipated to restrain growth of the global yerba mate market during the forecast period.

Impact of COVID-19:

COVID-19 had a significant impact on the growth of many businesses globally. It also affected the economy of several nations and hampered the growth of many industries. China, Spain, Italy, India, the US, Australia and many more countries had to implement strict lockdown restrictions to prevent further transmission of the virus. These restrictions resulted in shutting down of several companies temporarily. During the pandemic, people became more health conscious and were opting for healthy alternatives. This led to increase in demand for yerba mate products. Thus, the outbreak of COVID-19 had a positive impact on the growth of the global yerba mate market.

According to Coherent Market Insights, the Global Yerba Mate Market achieved a value of US$ 1,251.0 Mn in 2018 and is projected to experience a CAGR of 3.1% in terms of revenue, reaching US$ 1,641.0 Mn by 2027. This growth is attributed to rising consumer demand for healthier beverages and the unique flavor and health benefits offered by this herbal infusion from the Yerba Mate plant.

Key Takeaways:

The global yerba mate market is expected to witness high growth, exhibiting CAGR of 3.1% over the forecast period, due to increasing business expansion by key players. For instance, Steaz, an innovator of teas and functional beverages introduced new Steaz Antioxidant Brew® Unsweetened Yerba Mate beverages in March 2022. These re an extension of their sweetened lineup the previous year.

North America is anticipated to witness significant growth in the Global Yerba Mate Market during the forecast period, due to growing availability of a wide variety of yerba mate based products and increasing popularity among students.

Key players operating in the global yerba mate market are La Tranquera, Herboflora, Mate Factor, Vita Forte Inc., Triunfo do Brasil, Darka Company s.r.o., Lauro Raatz SA, ESTABLECIMIENTO LAS MARIAS, Aguantadora, Amanda, Kraus Yerba Mate, Wisdom Natural, CBSe, Triunfo, Romance, Selecta, and Romance.