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Largest segment driving the growth of Guarana Market

 

Guarana market

The global Guarana Market is estimated to be valued at US$ 6218.69 Mn or Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Guarana is a climbing plant found primarily in the Amazon region. The berries of the plant contain a significant amount of caffeine and are converted into powder and sold as an energy-boosting supplement.

Market key trends:

Guarana has been traditionally used by the local communities in Brazil to enhance physical endurance and boost energy levels. With changing lifestyle patterns and growing health consciousness, guarana supplements are increasingly being consumed as energy boosters and for its stimulant properties. In addition, guarana extracts are widely being used in the production of sports drinks, soft drinks, and energy drinks due its ability to provide mental alertness and improve performance. Rising demand for natural caffeine sources from the beverage industry is anticipated to contribute significantly to the growth of the guarana market during the forecast period.

SWOT Analysis:

·         Strengths: Guarana contains three times more caffeine than coffee beans and helps boost energy levels naturally. It has antioxidant properties that offers various health benefits.

·         Weaknesses: High caffeine content of guarana can cause side effects like jitters, insomnia, anxiety, etc. if consumed in excess.

·         Opportunities: Increasing demand for herbal supplements and functional beverages present opportunities for guarana market players to launch new product innovations.

·         Threats: Availability of cheaper substitutes like coffee can hamper the demand for guarana. Stringent regulations associated with caffeine content pose threats.

Key Takeaways:

The Global Guarana Market Size is expected to witness high growth, exhibiting CAGR of 7.1% over the forecast period, due to increasing demand for energy drinks and supplements. The market size for 2023 is estimated to be US$ 6218.69 Mn.

Regionally, Latin America dominates the guarana market currently. Brazil accounts for more than 60% of the world's guarana production. The favorable climatic conditions and abundant availability of raw materials in Brazil support the growth of guarana production in the region.

Key players operating in the guarana market are Vitaspice Brasil Ltda, Prover Brasil for Export Ltda, Herboflora Produtos Naturais Ltda, Ambev, Duas Rodas Industrial Ltd, A R De Sousa Ribeiro & Cia Ltd, Natural Amazon Herbs Producao De Extratos Ltda, Iris Trade Inc., The Green Labs LLC, and Nutra Green Biotechnology Co., Ltd. These players are focused on launching innovative product formulations and sustaining strong distribution network.

 

Read More - https://www.insightprobing.com/guarana-market-forecasts-and-outlook-analysis/

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