Yerba Mate Market to grow at a CAGR of 4.5% during 2024-2028
The Yerba Mate Market is expected to grow at a CAGR of 4.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 333 million. The global cafe and coffee shop industry has experienced a notable upsurge in recent years, with consumers increasingly favoring these establishments as social hubs beyond just beverage purchases. In this context, yerba mate drinks have emerged as desirable, exotic alternatives, gaining traction primarily in the US and Western European markets. Coffee shop chains, such as Portenas Mate Bar in the US, are expanding their product offerings to cater to this trend. The growing health consciousness among consumers, coupled with concerns regarding the long-term effects of milk-based and sugar-sweetened beverages, has fueled the demand for yerba mate as a healthier caffeine source.
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Technavio analysts predict that the Offline subsegment will lead the Distribution Channel segment during 2024 and 2028 In the global Yerba Mate market, traditional offline distribution channels continue to dominate, accounting for a significant market share. These channels include specialty health food stores, hypermarkets, supermarkets, grocery stores, and convenience stores. The expansion of retail commerce due to globalization has led to an increase in the number of offline retail outlets for food and beverage products. According to the US Census Bureau, US retail trade sales grew by 8% from USD6.52 trillion in 2021 to USD7 trillion in 2022. The rising consumer awareness regarding the health benefits of Yerba Mate and the increasing consumer preference for organic, plant-based healthy beverages have fueled the demand for this product through offline channels over the past few years.
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There are several factors that are causing the market to flourish growing consumer awareness about health benefits of yerba mate
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Yerba Mate, derived from the leaves of the Ilex paraguariensis tree, is a popular South American beverage known for its unique flavor profile and numerous health benefits. This herbal tea, also referred to as the "drink of the gods," boasts a rich, complex taste with notes of honey, fruit, and earthiness. Beyond its delightful taste, Yerba Mate offers an impressive nutritional profile. It's packed with essential minerals, vitamins, and antioxidants that contribute to overall wellness. In the beauty industry, Yerba Mate powder is used for its skincare benefits, thanks to its high antioxidant content. Social connection plays a significant role in the Yerba Mate tradition. The beverage is often shared among friends and family, fostering a sense of community. For those seeking functional beverages, Yerba Mate offers numerous health benefits, including cardiovascular health, mental alertness, metabolism support, and weight management. Rich in caffeine, Yerba Mate provides a natural energy boost, making it an excellent alternative to coffee or energy drinks. It's also known to enhance cognitive function and improve digestion. Additionally, regular consumption of Yerba Mate has been linked to heart disease prevention, immunity support, and improved energy levels. As a natural drink, Yerba Mate is gaining popularity in the wellness and beverage industries as a healthier alternative to sugary, processed beverages. With its numerous health benefits and unique flavor profile, Yerba Mate is a must-try for those seeking functional beverages that nourish both body and mind.
The global packaged foods and meats market encompasses vendors engaged in food processing to ensure microbial elimination and shelf life extension. According to Technavio, the market's size is determined by the consolidated revenue generated by participating industry players. This market segment excludes equipment manufacturers and producers of packaged alcoholic and non-alcoholic beverages, including mineral waters. Key growth drivers for the global packaged foods and meats market include the health benefits linked to minimally processed foods, such as vegetables, which are rich in essential nutrients like potassium, dietary fiber, folate (folic acid), vitamin A, and vitamin C.
The Yerba Mate Market is experiencing significant growth, fueled by the growing consumer awareness about health benefits of yerba mate. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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