by The guarana market is estimated to be valued at US$ 6218.69 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 native to the Amazon region. It contains caffeine and theobromine which act as stimulants and provides energy. Guarana is widely used in the food and beverage industry to produce energy drinks, soft drinks, dietary supplements etc. It is also used in personal care products for its antimicrobial properties.
Market Dynamics:
Growing demand for energy drinks especially among youth is driving the growth of guarana market. According to data, energy drinks market is growing at over 7% annually worldwide. Guarana acts as a key ingredient in many popular energy drinks brands owing to its stimulant properties. Further, increasing consumption of dietary supplements to boost energy levels is also propelling the guarana market growth. The rising health consciousness has increased the demand for plant based products and natural ingredients. Guarana being naturally sourced from Amazon provides clean label and is therefore gaining traction from health conscious consumers. Moreover, guarana extracts are finding newer application in personal care owing to antimicrobial and anti-ageing benefits. This is anticipated to offer lucrative growth opportunities for guarana market over the forecast period.
SWOT Analysis:
- Strength: Guarana contains caffeine that provides energy and improves mental focus. It also contains antioxidants that can protect cells from damage. The caffeine in guarana is slowly released in the body providing sustained energy over several hours with no jitters.
- Weakness: Raw guarana is bitter tasting which limits its use directly as food or beverage. The harvesting process of guarana berries is labor-intensive and relies on availability of skilled labor.
- Opportunity: Growing popularity of energy drinks and pre-workout supplements opens opportunities for use of guarana extracts in these products. Increasing demand for herbal products boosts prospects for guarana extracts in dietary supplements and functional foods.
- Threats: Stringent regulations regarding content and labelling of caffeine in products pose challenges. Alternative energy boosting ingredients are emerging which can substitute guarana.
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 and performance boosting products. Growing health-conscious population and shift toward herbal ingredients drive the market.
Regional analysis: Brazil dominates the global guarana market accounting for around 90% of total production. Easy availability of raw materials and traditional use of guarana make Brazil the fastest growing as well as dominating 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. The market is highly fragmented with large number of small players.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.
