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Yerba Mate (Ilex Paraguariensis) Market Demand, Evolving Trends, Future Perspectives, Size, Share And ForecastTo2033
Yerba Mate (Ilex Paraguariensis) Market Demand
According to The Business Research Company's, The yerba mate (Ilex Paraguariensis) market size has grown strongly in recent years. It will grow from $1.88 billion in 2023 to $1.99 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to increasing popularity of healthy beverages, growth in the natural foods, expansion of the functional foods, emergence of innovative processing techniques, shift towards organic and sustainable agriculture practices.
The yerba mate (Ilex Paraguariensis) market size is expected to see strong growth in the next few years. It will grow to $2.42 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to continued growth in the health and wellness sector, increased demand for natural and organic products, innovations in packaging, improved efficiency and quality control, educating consumers about the nutritional and therapeutic benefits. Major trends in the forecast period include increase in online sales, enhanced focus on product safety, research and development, partnerships and collaborations.
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Market Drivers and Trends:
Rising health consciousness is expected to propel the growth of the yerba mate (Ilex paraguariensis) market going forward. Health consciousness refers to the awareness, concern, and proactive attitude individuals have towards their physical and mental well-being. This consciousness arises because of increased awareness of health risks, a focus on preventive healthcare, a desire for quality of life, and the influence of social and environmental factors. Yerba Mate offers a natural and holistic approach to improving various aspects of health, from energy and mental clarity to digestive and cardiovascular health. It is considered a healthy plant because of its antioxidant content, energizing effects, nutrient profile, potential digestive health advantages, and ancient medical uses. For instance, in April 2023, according to an online survey of 1,022 Americans ages 18 to 80 conducted by the International Food Information Council (IFIC), a US-based nonprofit organization, 52% of Americans reported that they followed a diet or eating pattern in the past year, a significant increase from the past few years (39% in 2021), which increased compared to previous years and is expected to rise in the coming years. Therefore, rising health consciousness is driving the growth of the yerba mate market.
Major companies operating in the yerba mate (Ilex Paraguariensis) market are developing innovative products, such as new caffeinated RTD (ready to drink) honest yerba mate, to offer a wider variety of products, appealing to different segments of the market. It is a line of ready-to-drink beverages based on yerba mate, a traditional caffeinated South American drink made from the leaves and stems of the yerba mate plant. For instance, in April 2021, Honest Tea, a US-based bottled organic tea company, launched a new caffeinated ready-to-drink beverage called honest yerba mate. This new drink is brewed from the leaves and stems of the yerba mate plant, a traditional South American drink known for its caffeine content. Honest Yerba Mate contains 13 grams of sugar and 60 calories per 16-ounce can and offers three flavor varieties, such as strawberry pomegranate matcha, peach mango green tea, and lemon ginger black tea. It is USDA-certified organic and features fair trade-certified ingredients sourced from Brazil. Additionally, it offers a caffeine content equivalent to an 8-ounce cup of coffee and aims to provide consumers with a unique blend of coffee and tea flavors in a convenient ready-to-drink format.
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Major Key Players of the Market:
Selecta S.R.L., Molinos Río de la Plata S.A., Sol de Janeiro, Compañía Industrial Cervecera S.A. Amanda, Barão, ECOTEAS S.R.L., Wisdom Natural Brands LLC, Molinos Rosamonte S.A., La Bastilla S.A., Cooperativa Agrícola de la Colonia Liebig Ltda, Establecimiento Las Marías, Kraus Yerba Mate S.A., La Virginia, La Rubia Company Ltd., Aguaribay S.A., Taragüi, Union S.A., Kraus Organic Company Ltd., Cruz de Malta S.A., La Merced, Pajarito S.A.
Yerba Mate (Ilex Paraguariensis) Market 2024 Key Insights:
• The Yerba Mate (Ilex Paraguariensis) Market is expected to grow to $2.42 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%.
• Role Of Rising Health Consciousness In Driving The Yerba Mate Market Growth
• Honest Tea Introduces New Caffeinated RTD Line Honest Yerba Mate
• Asia-Pacific was the largest region in the yerba mate (ilex paraguariensis) market in 2023. The regions covered in the yerba mate (ilex paraguariensis) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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