Aloe vera is a juicy plant which stores water in its leaves, they are pulpy and thick. The leaves produce two substances the gel, and aloe latex. It is mostly found in the tropical climatic conditions in different countries across the globe. Aloe vera is generally used for cosmetics, food, and medicine. Aloe vera is widely used in the cosmetics, pharmaceutical, and food industry. The aloe vera are used to formulate pharmaceuticals products such as capsules, drinks, powders, and gels. Aloe vera is known to relieve skin related disorders, weight loss, cardiac diseases, and many more health related problems, due to which, consumption of aloe vera have increased among consumers globally.
Demand for aloe vera product in food industry is expected to grow with a fastest rate in the forecast period. Wide range of applications such as packaged drinking water, low-calorie fruit juice are creating new opportunity. Cosmetics is the largest end user sector of aloe vera product, which accounts for more than 40% of global demand in 2020.
The aloe vera based product market in Asia Pacific will grow considerably in the forecast period due to the huge demand and the presence of a large number of manufacturers. Increasing awareness and health concern among the consumers, is the key driving factor for aloe vera based product in Asia Pacific. Various innovative products, is driving the aloe vera market in Asia Pacific. Such as, South Korean company OKF Corp., has recently launched an organic aloe drink, which is organic aloe drink certified by USDA and EU.
The report titled “Aloe Vera Product Market - Growth, Future Prospects and Competitive Analysis, 2021– 2029” offers strategic insights into the aloe vera product market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on material, application, and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2020 & 2025. The report also provides a prolific view on market dynamics such as market drivers, trends, restraints and opportunities. The report incorporates a separate section highlighting key trends analysis of the overall aloe vera product market.
In order to help the strategic decision makers, the report also includes profiles of the leading aloe vera product manufacturers, their business strategies and key developments. Some of the major players profiled in the report are Aloe Farms, Inc., Aloe Laboratories, Inc., Aloecorp, Inc., Foodchem International Cooperation, Herbalife, Lily of the Desert Organic Aloeceuticals, Natural Aloe Costa Rica S.A., Pharmachem Laboratories, Inc., and Terry Laboratories, Inc. The section further includes a brief on key strategies adopted by the major players operating in the market. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the aloe vera product market, offering market size and estimates for the period from 2021 to 2029, keeping in mind the above mentioned factors.
Aloe vera whole leaf extracts segment has the largest market share, and is expected to remain the largest market in the forecast period. Aloe vera whole leaf extracts market was more than 40% of the total market share in 2020. Global consumption of aloe vera whole leaf extracts is expected to be more than 25,000 tons by 2021. Aloe vera extract is majorly used in cosmetics, pharmaceuticals, and food & beverage industry. Aloe vera extract market is in its blossoming stage and have a huge potential in forecast period. New innovations are being done in aloe vera extracts market to increase the range of application to new areas such as dentistry and agriculture.
The drinks segment accounted for largest share in the global aloe vera market in 2020. The growth of aloe vera based drinks is mainly driven by increasing concern about the natural product consumption. Due to the high demand for aloe vera based drinks, suppliers are trying to make various innovations in the product in the form different flavors, to attract the consumers. The gel segment is another lucrative market for the aloe vera market. The gel contains mainly water and various vitamins which are found in the human body. It is broadly used in the cosmetic, toiletries industry, food industry, and the pharmaceutical industry. The global aloe vera gel market was worth US$ 465 Million in 2020.
Due to its superior skin benefits aloe vera is mostly used in cosmetic industry and accounts for highest market share in the market. Whereas, highest growth is in forecast period expected from the food industry, at a CAGR of around 7.5% in 2021-2025. The prevalence of various skin diseases and other related problem has impelled the demand for aloe vera product from cosmetic product manufacturers which is likely to observe robust growth over the forecast period. Food and beverage manufacturers is likely to increase due to increased usage of aloe vera product in producing aloe vera drinks which is anticipated to increase the food products segment growth over the period 2021-2025.
Europe market is the largest market for aloe vera product. Germany was the largest consumer of aloe vera extracts in 2020. Asia Pacific is likely to grow at the fastest CAGR during the forecast period, due to the growing demand from rapidly growing middle class population and growing disposable income. Changing lifestyle due to growing socioeconomic factors mainly in Asia Pacific is a major factor backing the growing demand of aloe vera product market in the forecast period. Increasing concern regarding replacement of chemical products by natural product in cosmetics industry is also driving the industry growth.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Aloe Vera Product market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
