According to Future Market Insights (FMI), global yerba mate sales will total USD 2,186.8 million in 2023. Between 2023 and 2033, demand for yerba mate is set to rise at 5.7% CAGR. By 2033, the worldwide yerba mate market size will reach around USD 3,797.0 million.
Growing awareness about the health benefits of yerba mate is a key factor driving the global yerba mate market. Similarly, rising inclination towards healthy beverages will elevate yerba mate demand. Yerba mate is emerging as a healthy alternative for tea, coffee, and other beverages worldwide. This is due to its various health benefits.
Yerba mate is rich in nutrients antioxidants, caffeine, and other essential nutrients. It enhances physical performance, boosts immunity, lowers risk of heart disease, and improves digestion. Thanks to these benefits, yerba mate is being used across industries such as food and beverages, pharmaceutical, and dietary supplement. This in turn is providing a strong impetus for the development of yerba mate market.
Yerba mate is being increasingly used in various herbal formulae across the United States, Europe, and India for treating numerous health conditions. Rising consumption of these yerba mate-based products will boost sales through 2033.
Similarly, rising usage of yerba mate powder in cosmetics and personal care industry will elevate demand. This unique substance is used to manufacture soaps, shampoos, conditioners, deodorants, etc.
Key Takeaways from the Yerba Mate Market Report:
- Global yerba mate sales are likely to surge at 5.7% CAGR during the forecast period.
- By form, loose leaf segment will increase by roughly 1.8x over the forecast period, reaching a valuation of US$ 292.3 million.
- Latin America is set to hold a prominent market share of 74.3% in 2023.
- Herbalist shops and health food stores will together hold a market valuation of US$ 623.4 million in 2023
- The USA yerba mate market is forecast to expand at 6.7% CAGR over the next ten years.
- Argentina yerba mate industry will cross a valuation of US$ 1,563.3 million by 2033.
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Competitive Landscape
Growing consumer awareness of sustainability and eco-friendly products has opened a valuable opportunity for businesses to highlight the environmental benefits of yerba mate. Many yerba mate producers are actively working to minimize their environmental footprint.
For instance, Guayaki is committed to sustainability by using 58% of its primary and secondary packaging (by weight) made from post-consumer recycled or plant-based materials. The company ensures that its aluminum cans, glass bottles, and case boxes are crafted from recycled materials, including both post-consumer (recycled by customers) and pre-consumer (recycled during the manufacturing process) waste.
Key Market Developments
- In 2023, Guayaki Yerba Mate, one of the market leaders in yerba mate beverages, announced the release of Peach Revival. Peach Revival, a new addition to the company’s well-liked High Energy Cans, has a peach infusion with subtle sweetness and a hint of floral notes.
- In 2021, new yerba mate products were introduced by Honest Tea.
Key Companies Profiled
Establecimiento Las Marías; Cooperativa Agrícola de la Colonia Liebig Ltda; HREÑUK S.A.; Molinos Río de la Plata SA; La Cachuera SA; HerboFlora; ECOTEAS Organic Yerba Mate; Santo Pipo SCL; Guayaki Sustainable Rainforest Products Inc.; Kraus; Other Players
Yerba Mate Market Segmentation
By Form:
- Loose Leaf
- Powder
- Extracts
- Concentrates
By Sales Channel:
- Business-to-Business
- Beverage Processing
- Dietary Supplement
- Cosmetic and Personal Care
- Pharmaceutical
- Business-to-Consumer
- Hypermarkets/Supermarkets
- Herbalist Shops
- Health Food Stores
- Online Retail
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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