Yerba Mate Market to Reach $2.9 Billion, Globally, by 2032 at 5.2% CAGR: Allied Market Research
Yerba mate has strong cultural ties, especially in South America. As cultural diversity gains attention globally, there is an increasing interest in trying beverages with cultural significance. Yerba mate's unique cultural appeal contributes to its popularity among consumers seeking authentic and exotic experiences.
WILMINGTON, NEW CASTLE, Feb. 16, 2024 (GLOBE NEWSWIRE) --Allied Market Research published a report, titled,* “**Yerba Mate Market* *By** Type (Powder, Concentrate, Others (Tablets and Capsules), Application (Dietary Supplements, Functional Food, Food **And** Beverage, and Cosmetics and Personal Care), and Distribution Channel (Retail Stores, Hypermarkets **And** Supermarkets, Online Sites, and Others): Global Opportunity Analysis **And** Industry Forecast, 2023-2032". *According to the report, the global yerba mate industry generated $1.8 billion in 2022 and is anticipated to generate $2.9 billion by 2032, witnessing a CAGR of 5.2% from 2023 to 2032.
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*Prime determinants of growth*
Yerba mate has strong cultural ties, especially in South America. As cultural diversity gains attention globally, there is an increasing interest in trying beverages with cultural significance. Yerba mate's unique cultural appeal contributes to its popularity among consumers seeking authentic and exotic experiences. However, yerba mate production is concentrated in specific regions, and any disruptions in the supply chain, such as adverse weather conditions or transportation issues, can impact availability and increase costs. In addition, collaborating with other beverage companies, wellness brands, or retailers can open new distribution channels and increase market visibility. Partnerships that align with current health and wellness trends can enhance the yerba mate market position.
*Report coverage & details:*
*Report Coverage* *Details*
Forecast Period 2023–2032
Base Year 2022
Market Size in 2022 $1.8 billion
Market Size in 2032 $2.9 billion
CAGR 5.2%
No. of Pages in Report 300
Segments covered Type, Application, Distribution Channel and Region
Drivers · Rise in Interest in Functional Beverages
· Cultural and Social Influences
Opportunities · Innovation in Product Offerings.
Restraints · Limited Awareness in Non-Traditional Markets *The powder segment to **maintain** its leadership status throughout the forecast period* By type, the powder segment held the highest market share in 2022, accounting for more than two-fifths of the global yerba mate market revenue and is estimated to maintain its leadership status throughout the forecast period. However, the concentrate segment is the fastest-growing segment and is projected to manifest the highest CAGR of 5.3% from 2023 to 2032.
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*The dietary supplements segment to **maintain** its lead position throughout the forecast period*
By application, the dietary supplements segment held the highest *Yerba Mate Market* *S**hare* in 2022, accounting for more than one-third of the global Yerba mate market revenue and is estimated to maintain its leadership status throughout the forecast period. Also, it is expected to be the fastest-growing segment and is projected to manifest the highest CAGR of 5.7% from 2023 to 2032.
*The retail stores segment to **witness** the fastest growth throughout the forecast period*
By distribution channel, the retail stores segment held the highest market share in 2022, accounting for more than one-third of the global yerba mate market revenue and is estimated to maintain its leadership status throughout the forecast period. Also, it is expected to be the fastest-growing segment and is projected to manifest the highest CAGR of 5.8% from 2023 to 2032.
*Asia-Pacific to **maintain** its dominance by 2032*
The Asia-Pacific region held the highest market share in 2022, accounting for more than one fifth of the global Yerba mate market revenue and is estimated to maintain its leadership status throughout the forecast period. Also, the Asia-Pacific region is projected to manifest the highest CAGR of 10.5% from 2023 to 2032.
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*Leading Market Players: -*
· Amanda
· La Hoja
· Cruz de Malta
· Canarias
· Taragüi
· Playadito
· Rosamonte
· Nobleza Gaucha
· Kraus Organica
· Union
· Aguantadora
· Piporé
· Pajarito
· Colon
· Selecta.
The report provides a detailed analysis of these key players in the global yerba mate market. These players have adopted different strategies such as new product launches, business expansion, partnerships, mergers, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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