The Guayusa market is set to grow by USD 9.27 million accelerating at a CAGR of almost 4%, during the period spanning over 2020-2024. One of the key factors driving growth is the expansion of the retail landscape. The growth in population has increased the number of supermarkets, hypermarkets, and specialty stores in the Americas. The growing demand for energy drinks is a major trend that will further stimulate market growth. Guayusa is rich in antioxidants due to which it is widely used in the preparation of energy drinks.
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Technavio has announced its latest market research report titled Guayusa Market in Americas 2020-2024 (Graphic: Business Wire)
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Parent Market Analysis
Technavio categorizes the global guayusa market as a part of the global packaged foods and meats market. The global packaged foods and meats market covers manufacturers or food processing vendors that are involved in food processing to eliminate microorganisms and to extend shelf life. Technavio calculates the global packaged foods and meats market size based on combined revenue generated by the vendors operating in the market. Growth of the global packaged foods and meats market will be driven by the health benefits associated with the intake of minimally processed food.
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Guayusa Market in Americas: Geographic segmentation
The report segments the market by geography: North America and South America. About 70% of the market’s growth will originate from North America during the forecast period. The rising awareness about the health benefits of guayusa among consumers is driving the market in the region. The US is the key market for guayusa in North America.
Guayusa Market in Americas: Segmentation by application
The tea segment was leading the market in 2019. The segment is mainly driven by the rising awareness about the health benefits of consuming guayusa tea. Besides, vendors operating in the market are offering innovative guayusa tea products such as bottled and ready-to-eat guayusa teas to expand customer base. This report provides an accurate prediction of the contribution of all the segments to the growth of the guayusa market size.
Guayusa Market in Americas: Growth Drivers
The market is driven by the expansion of the retail landscape. The retail industry is growing exponentially across the Americas with the establishment of new supermarkets, hypermarkets, and specialty stores. This is evident in countries such as Brazil and Mexico that are witnessing a significant rise in the number of supermarkets. Besides, the hectic work life and busy lifestyles of consumers has increased the preference for convenience and value for money products. These factors have led to the growth of the organized retail sector, which is increasing the availability of products made of guayusa, thereby driving the growth of the market.
Guayusa Market in Americas: Challenges to overcome
The growing popularity of superfoods such as guarana and Cassina is expected to challenge the growth of the players in the guayusa market. This is due to the growing awareness about the health benefits of the consumption of guarana and Cassina.
Guayusa Market in Americas: Vendor landscape
This report provides information on revenue, organizational developments, and key go-to-market strategies of several leading Guayusa companies, including:
All Market Inc.
Applied Food Sciences Inc.
Garden of Flavor
Herbs America Inc.
YAMAMOTOYAMA Co. Ltd.
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Technavio reports cover the following key research areas:
Detailed Analysis of Market Eco System
Market favorability index
Market opportunity by segments
Analysis of drivers of price sensitivity
Key purchase criteria
Customer purchase basket
Impact of drivers and Challenges
Factors of differentiation
Key industry risks
Market position of vendors
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