The guarana market is set to witness significant growth momentum, owing to an increase in awareness among consumers for a healthy diet. The use of guarana extracts as an alternative for other caffeine products in numerous applications, such as dietary and nutritional supplements, energy drinks, snacks, flavored beverages & juices, and other food products by food & beverage industries, drives the sales for the global guarana market. In addition, key players of the industry use guarana as an essential flavoring ingredient in food & beverages.
Moreover, they are often used as an herbal ingredient in medicines for the treatment of obesity, Type-2 diabetes, malaria, cardiac issues, low blood pressure, headache of other chronic diseases. Thus, various health benefits of guarana extracts are likely to trigger the growth of the global guarana market during the forecast period.
Other factors, such as rising living standards, increasing demand for healthy and nutritional products, growing economy, and soaring urbanization, are indirectly influencing the growth of the global guarana market in a positive way. However, availability of alternatives and the high cost of guarana extracts is expected to hamper the market growth.
Manufacturers are introducing guarana infused food products in order to cater to the evolving needs of customers related to the various food products with various functional properties. The aforementioned trends prevailing in the market are estimated to exhibit the growth rate (CAGR) of global guarana market at ~ 7.4% during the forecast period (2018-2023).
Guarana Market Key Developments:
Guarana Market Insights
The Global Guarana Market is expected to grow at a CAGR of 7.4% during the forecast period (2018 - 2023) mainly due to an inclination towards proper well-being and prevention of chronic diseases.
The global guarana market can be segmented on the basis of form and application. In 2016, the liquid form segment accounted for the highest market share and is expected to maintain its dominance throughout the forecast period. This is attributed to its easy convenience and soluble properties on beverage items.
The regional market scenario of guarana is led by the Asia Pacific owing to the robust demands from China, India and other South East Asian countries in the food & beverages industry.
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key players in the Guarana Market
The key players in the market are also embarking on enhancing their presence in developing regions such as Asia and are also adopting the mergers and acquisitions strategy in order to enter into key regional markets.
Based on application, the market includes beverage & confectionary products, dietary supplements, beverages, and others. The beverage segment is anticipated to account for a significant share of the guarana market owing to the rise in demand for different health & energy drinks among consumers. Guarana extracts find its application in different soft drinks, non-carbonated & carbonated drinks, and fruit juices. Athletes & sportsperson consume energy drinks in order to enhance their performance, and this factor is likely to propel the market growth.
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