The North America Yerba Mate market refers to the consumption and trade of yerba mate, a traditional South American beverage made from the leaves of the yerba mate plant, in countries located in North America such as the United States, Canada, and Mexico. The market has experienced growth in recent years due to increasing demand for natural and healthy drinks, as well as the rising popularity of yerba mate as a coffee alternative.
The North America yerba mate market would expand at a CAGR of 4.8% from 2022 to 2029, according to the estimate. The need for yerba mate in the beauty and healthcare sectors is anticipated to increase, along with market technological improvements.
The term “yerba mate” refers to a herbal tea prepared from the Ilex paraguariensis plant. To make herbal tea, yerba mate plant twigs and leaves are first dried, often over a fire, and then infused with hot water. You may serve this tea hot or chilled.This beverage, also known as mate, is highly well-liked in a number of Latin American nations, including Brazil, Paraguay, Argentina, and Uruguay. Caffeine is a stimulant found in yerba mate. Additionally, this beverage can have tastes like grapefruit, pomegranate, and others. It is a preferred option for many customers because to the variety of tastes.
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Yerba Mate Market Dynamics
Drivers
Rising awareness about health benefits of yerba mate
Nowadays, consumers are seeking new types of tea & beverages to satisfy their taste buds and health needs. Drinking tea continues to be extremely relevant, across consumer groups. Yerba mate has many health advantages, including high antioxidants and minerals, boosting energy and improving mental focus, weight loss and belly fat reduction, enhancing immune function, and lowering blood sugar levels.
Technological advancements in the market
Due to rising consumer demand for wholesome foods and increased health consciousness, the yerba mate business is expanding quickly on a global scale. The market participants in yerba are always attempting to introduce new products and technologies to the market. The introduction of modern technology and research aid in yerba mate cultivation and processing to meet the preferences of various market users.
Technological developments aid in product launches, market comprehension, trend analysis, and many other positive developments that aid industry specialists in growing. Rapid product and benefit validation is a key component of the launch strategy. This is accomplished through the use of the Net Promoter Score (NPS), a metric used to assess a customer’s entire connection with a business.
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Restraints/Challenges
Difficulty in the cultivation of yerba mate
Yerba mate plants come from the subtropical region of South America. They prefer humid, hot climates that grow plenty of rainfall. If the humidity in area is lower than 50%, the plant probably won’t survive. Climate change is affecting food system sustainability by influencing farmer livelihoods, consumer choices, and food security through changes in the natural and human components of agroecosystems. Annual precipitation and heavy rainfall events are becoming more common, especially in the spring.
Adverse weather conditions also hamper the supply chain and transportation of yerba mate. Furthermore, Yerba mate production is a process that may take at least 5 years from seed to drink. It’s tested, controlled, and requires great skill and precision. Each step of Yerba mate from cultivation to processing and packaging require specific conditions that are difficult to fulfil. Thus, difficulty in cultivation challenge farmers and create raw material fluctuations for businesses, ultimately hampering the market growth.
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Yerba Mate Market Scope
Type
Argentinian yerba mate
Paraguayan yerba mate
others
Application
Food
Sports Nutrition
Dairy Alternative
Beverages
Distribution Channel
Direct
Indirect
Competitive Landscape and Yerba Mate Market Share Analysis
Some of the major players operating in the yerba mate market are:
Herboflora, Vita Forte Inc., Darka Company s.r.o., ESTABLECIMIENTO LAS MARIAS, LA MISSION MILLS ESTABLISHMENT, Lauro Raatz SA, Triunfo do Brasil, Mate Factor and EOCTEAS among others.