The Global Yerba Mate Market is estimated to be valued at USD 1.99 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 5.1% from 2024 to 2031. The global yerba mate market has been witnessing significant growth over the past few years. Yerba mate is a species of holly native to subtropical Latin America and is consumed as a tea. Rising awareness about the various health benefits of yerba mate such as increased energy levels, weight management, antioxidant properties, reduced risk of cancer and heart diseases, etc. has prompted more people to include it in their daily diet. Additionally, changing consumer preferences towards herbal and organic beverages coupled with increasing disposable incomes in developing countries are also contributing to the rising demand for yerba mate products globally. However, availability of substitutes may hamper the market growth to some extent during the forecast period.
Market Dynamics:
The key drivers fueling the global yerba mate market include rising health consciousness among consumers and increasing demand for organic and plant-based beverages as alternatives to coffee and tea. Moreover, the growing promotion of the benefits of yerba mate through various health and wellness campaigns on social media and other platforms is creating more awareness. This is encouraging numerous product innovations including yerba mate infused energy drinks and dietary supplements. However, the availability of cheaper substitutes such as green tea and coffee poses a major challenge. Nevertheless, emerging opportunities lie in expanding distribution networks in developing Asian and African markets and introducing new product categories including yerba mate sodas, cocktails, etc.
Key Features of the Study:
Detailed Segmentation-
Table of Contents
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