In 2023, the Mate and Tea market in the US stood as a pivotal segment, with forecast data starting from 2024 predicting a shrinking trend in market volume from 135.2 Thousand Metric Tons to 128.1 Thousand Metric Tons by 2028. This reflects a consistent decline year-on-year, with the market experiencing a downward CAGR over the forecast period. This negative trajectory suggests diminishing consumption or potential market saturation, with percentage decreases observed consistently over the years.
Future trends to watch for:
- Emerging consumer preferences for alternative beverages, potentially contributing further to market decline.
- Potential takeover by niche markets, such as herbal teas, offering unique health benefits that could appeal to health-conscious consumers.
- Innovative marketing and product differentiation might stagnate or reverse declining trends.
- Sustainability and eco-friendly packaging could become essential differentiators in the market.
