Seattle, WA -- (SBWIRE) -- 11/14/2019 -- Yerba mate is a traditional South American beverage derived from the plant species of the holly genus with botanical name IIex paraguariensis. It is widely used for medicinal purposes since it relieves physical and mental fatigue along with chronic fatigue syndrome (CFS). This drink helps to improves mood, reduce symptoms of depression, and strengthening bones. Moreover, it is also effective against high cholesterol, diabetes, and urinary tract infections (UTIs), and kidney stones.
The market for yerba mate is expected to experience substantial growth over the forecast period (2019-2027), owing to rising demand for yerba mate due to its health benefits and new product launches.
For instance, in 2018, Danone-owned STok Coffee launched a new range of cold beverages including protein cold brew coffee and yerba mate cold brew tea in multi-serve and single-serve formats. The product, yerba mate cold brew tea offers 75% more caffeine with less sugar and is available in two flavors including slightly sweet and peach.
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On the other hand, side effects associated with the consumption of yerba mate are projected to hamper the market growth of the yerba mate market.
The global yerba mate market was valued at US$ 1,251.0 Mn in 2018 and is expected to register a CAGR of 3.1%, in terms of revenue over the forecast period (2019 to 2027), to reach US$ 1,641.0 Mn by 2027.
Latin America accounted for the largest revenue share of 82.2% in the global yerba mate market in 2018 and is expected to maintain its dominance over the forecast period. According to the Institution of Yerba Mate, Argentina, Argentina is the leading producer and exporter of yerba mate in the world. Moreover, Latin America headquarters for major yerba mate players such as Kraus, and La Virginia S.A. Moreover strong presence of market players in the region is further projected to boost the revenue for the yerba mate market during the forecast period.
Yerba mate is widely used in food & beverages, dietary supplements, cosmetics & personal care, and functional food products. The consumption of yerba mate as a part of the diet supplement is rising, and this can be attributed to growing health awareness among the populace. Key companies in the market are focused on launching yerba mate as a dietary supplement. For instance, Matebros, a California-based beverage company, offers yerba mate energy drinks with no artificial sweeteners & sugars.
Based on the application, in 2018, the food & beverage segment accounted for the largest market revenue share of 69.9% in the global yerba mate market. Yerba mate is largely consumed as a hot or cold beverage.
Key companies such as Yerbae, New Age Beverage Corporation, and Rebble offer yerba mate as a cold sparkling drink with different flavors. It is also available in the form of tea bags and is consumed as hot tea. Rising demand for yerba mate is backed by its health benefits, which in turn is projected to fuel the growth of the food & beverages segment in the yerba mate market.
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Major players operating in the global yerba mate market include Pure Leaf Naturals, Ecoteas, Yuyo Drinks Ltd, Mate Factor, Kraus, Wisdom Natural Brands, LA Virginia S.A., and Guayaki Sustainable Rainforest Products, Inc.
Key industry players are focused on adopting strategies such as mergers & acquisitions and marketing through campaigns & social media platforms in order to expand their market share. For instance, in March 2017, Yuyo Drinks launched the Yerba Mate campaign in the U.K. The company, through various social media platforms, shared videos and tweeted the information about the campaign. Moreover, the company arranged a testing session of Yuyo drinks that are manufactured using yerba mate.
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