Yerba Mate Market Current Scenario and Future Growth Analysis by 2028
Yerba Mate Market – Introduction
Yerba mate is a shrub plant Ilex paraguariensis. The plant’s leaves and twigs are used for the preparation of tea beverage known as mate. Yerba mate is commercially sold in different forms such as liquid or powder. The tea made from yerba mate is usually sold as yerba mate and is also available in a combination of different flavors.
The yerba mate market is expected to remain under the influence of its increasing application in multiple end-user industries such as food & beverage, personal care and pharmaceuticals. Also, consumption of yerba mate is increasing gradually as herbal tea owing to yerba mate’s composition which includes reminiscent of few of the green tea varieties. Utilization of yerba mate in organic products such as beverages and other plant-based products is trending in the yerba mate market owing to the plant’s medicinal benefits.
Yerba Mate Market – Notable Developments
- In January 2019, Coca-Cola Brazil launched yerba mate pods under the company’s traditional Leao Brand with an aim to further expand the company’s footprints in the country.
- Tea of a kind added a new bottled tea variant in the company’s extensive list of teas – raspberry flavored yerba mate tea. The new introduction is a real brewed tea and is without any sugar or artificial ingredients.
- In September 2018, Mobtown Fermentation, a Baltimore-based kombucha brewer added a new flavor of blueberry yerba mate to the company’s Wild Kombucha line.
Key players in the yerba mate market include Pure Leaf Naturals, Guayaki, Yuyo Drinks Ltd., ECOTEAS, Mate Factor, Establecimiento Las Maras and Kraus. These yerba mate market players are focusing on mergers and acquisitions to consolidate their position.
Yerba Mate Market Dynamics
Nutritional Benefits of Yerba Mate Fit Well in Ongoing Health & Fitness Enthusiasm
Yerba mate has been studied to contain almost twenty-four vitamins and minerals such as calcium, manganese, magnesium, iron, potassium and zinc, abundant antioxidants, caffeine and fifteen amino acids. The mate made from yerba mate has been traditionally consumed in South America owing to its health benefits. Research studies also support yerba mate’s health attributes and the plant’s potential benefits in weight management. In addition to weight management, yerba mate is also highly embraced for allergy relief, sustaining energy levels, diabetic treatment, lowering of blood pressure and strengthening the immune system. Currently, buoyancy in the food and beverage sector is beneficial for the yerba mate marketplace wherein manufacturers are engaged in achieving health claims for different drinks and other beverages.
Yerba Mate Producers Seeking Sustainability in Supply Chain with Organic Production
With an aim to preserve nature and establish social equity in the yerba mate producing countries, producers are engaged in cultivating organic yerba mate promote environmental and sustainability principles. In addition to organic production, producers are also engaged in forest regeneration and fair trade, thereby adding value to the yerba mate supply chain.
Efforts are also underway to establish innovative business models that are specifically designed with an aim to regenerate the threatened South American Atlantic rainforest. These efforts are also allowing the stakeholders to internalize production costs related to social as well as environmental aspects and develop a premium and affordable product at a good price point.
Health Conscious Millennial to Embrace Health Drinks Infused with Yerba Mate
Currently, the health drinks sector is witnessing a meteoric growth on the back of a growing health trend among consumers, especially millennial population. Multiple beverage producers are actively engaged in introducing products that provide healthier alternatives with low sugar and superior health benefits such as antioxidants, low cholesterols and increased available energy levels. While tea and coffee are already witnessing buoyancy in the beverage landscape, increasing health-consciousness is likely to increase the consumption of yerba mate in the coming years.
Yerba Mate Market – Segmentation
Yerba mate market is segmented on the basis of application, form and distribution channel.
On the basis of application, the market is segmented into,
- Food & beverage
- Functional foods
- Cosmetics & personal care
- Dietary supplements
On the basis of form, the yerba mate market is segmented into,
- Liquid Concentrate
Based on distribution channel, the yerba mate market is segmented into,
- Online stores
- Convenience stores
- Specialized drug stores