Functional Beverages Is Fastest Growing Segment Fueling The Growth of the global Guarana Market

 

The global Guarana Market is estimated to be valued at US$ 5,062.1 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 berry that grows in the Amazon rainforest. It contains caffeine and is used commonly in energy drinks and other functional beverages due to its stimulant properties. The stimulant effects provide increased alertness and energy.

Market Key Trends:

Increasing demand for energy and functional drinks among health-conscious consumers is a key driver fueling the growth of the guarana market. Guarana extract offers a natural source of caffeine and is widely used in various beverage formulations as a stimulant. The rising popularity of organic and natural ingredients in beverages is boosting the adoption of guarana extract. Furthermore, increasing concerns regarding side-effects of synthetic stimulants such as caffeine are supplementing the demand for natural stimulants like guarana.

Segment Analysis

The global guarana market is segmented by form into powder, paste, and others. The powder segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. This is owing to the wide applications of guarana powder in energy drinks, dietary supplements, functional food and beverages. Guarana powder provides a variety of health benefits such as weight management, enhanced energy and focus.

Key Takeaways

The global guarana market is expected to witness high growth, exhibiting CAGR of 7.1% over the forecast period, due to increasing demand for energy drinks and dietary supplements.

North America dominates the regional segment owing to increasing consumption of energy drinks in the region. However, Asia Pacific is expected to witness fastest growth over the forecast period with rising health consciousness. Guarana is native to Brazil, therefore Brazil dominates the guarana market accounting for over 40% of global production in 2022. Other major guarana producers include Peru and Venezuela.

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.

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