by 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 native to the Amazon rainforest and has been used by the indigenous people of Brazil for centuries. It contains caffeine and other stimulants which provide energy boosting effect. Guarana extracts find application in functional foods, beverages, dietary supplements due to its stimulant and performance enhancing properties.
Market Key Trends:
The rising demand for energy drinks and functional beverages is driving the growth of guarana market. Guarana provides milder and prolonged stimulation as compared to coffee due to presence of other compounds along with caffeine. It is being widely used in sports and nutritional supplements as well as in various herbal teas and juices to provide energy and stimulate mental activity. The growing health consciousness among consumers has also fueled the adoption of guarana extracts in functional foods for its antioxidant properties.
SWOT Analysis
- Strength: Guarana has high caffeine content, around twice as much as coffee beans. It provides energy boost without negative side effects like jitters.
- Weakness: Overconsumption can lead to insomnia, anxiety, restlessness and other side effects related to excess caffeine intake. The crops are susceptible to frost damage during winters.
- Opportunity: Increasing demand for energy drinks and pre-workout supplements provides opportunity to market guarana extracts. Growing health-conscious population is driving the demand for natural stimulants.
- Threats: Presence of cheaper substitutes like coffee limits its usage in certain products. Regulations regarding usage of stimulants can hamper the market growth.
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.
Regional analysis:
Brazil dominates the global guarana production, accounting for over 70% share. Other major producers include Peru, Venezuela and Colombia. However, countries like United States, China, Japan, Germany are the fastest growing markets for guarana extracts owing to rising consumption of functional beverages.
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 players are focused on new product innovations and expansions to increase market share.
