Aloe Vera Extract Market Size And Forecast
Aloe Vera Extract Market was valued at USD 1.84 Billion in 2020 and is projected to reach USD 3.28 Billion by 2028, growing at a CAGR of 7.5 % from 2021 to 2028.
The rising consumer spending on healthy and nutritious products due to the increasing disposable income and the growing awareness regarding the medicinal importance of aloe Vera in the treatment of diabetes, skin diseases, and others are expected to fuel the aloe vera extract market over the predicted years. The Global Aloe Vera Extract Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Aloe Vera Extract Market Definition
Aloe vera extract is extracted from the inner parts of the aloe plant leaf. It has several benefits for skin conditions such as acne, inflammation in the mouth, burning mouth, an inflammatory skin condition, and radiation-induced skin damage. Furthermore, aloe vera extract is also used in the treatment of colds, asthma, seizures, bleeding, swelling of the colon (colitis), eye conditions that cause blindness (glaucoma), vision problems, hemorrhoids, joint inflammation, varicose veins, osteoarthritis, and multiple sclerosis. Aloe vera extract is also applied to the skin as an insect repellent. Based on the product form, the market is classified into Capsules/Tablets, Liquid, Powder, Gel, and Others. Based on the application, the market is bifurcated into Pharmaceuticals, Foods & Beverages, and Personal Care Products.
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Global Aloe Vera Extract Market Overview
The rising consumer spending on healthy and nutritious products due to the increasing disposable income is expected to fuel the aloe vera extract market over the predicted years. Also, the growing consumer preference for natural & healthy remedies and an upsurge in the product launches of aloe vera based products expect a boost to the market in the coming years. For instance, in June 2019, MYUNGIN launched a new product in Naturalist ‘Farm stay’. It is a representative brand of Myung in cosmetics which has an excellent moisturizing and holding power that keeps moisture with little stickiness and lightly penetrates. Also, increasing awareness regarding the medicinal importance of aloe Vera in the treatment of diabetes, skin diseases, and others is anticipated to bolster the market during the forecasted period.
There are certain restraints and challenges faced which can hinder the market growth. Factors such as the lack of proper harvesting methods, quality issues, and increasing usage of chemicals in order to prevent deterioration in the product are likely to act as market restraints.
Global Aloe Vera Extract Market Segmentation Analysis
The Global Aloe Vera Extract Market is segmented based on Product Form, Application and Geography.
Aloe Vera Extract Market by Product Form
• Capsules/Tablets
• Liquid
• Powder
• Gel
• Others
Based on the Product Form, the market is bifurcated into Capsules/Tablets, Liquid, Powder, Gel, and Others. The liquid segment is expected to hold the largest market share. The rising awareness about skin health is bolstering the usage of herbal extracts.
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Aloe Vera Extract Market by Geography
• North America
• Europe
• Asia Pacific
• Rest of the world
Based on regional analysis, the Global Aloe Vera Extract Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest share in the market will be dominated by the Asia Pacific owing to the growing pharmaceutical & cosmetic industries and increasing per capita income levels in this region.
Key Players In Aloe Vera Extract Market
The “Global Aloe Vera Extract Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Aloe Corp, Calmino Group AB, Terry Laboratories, LR Health & Beauty Systems GmbH, Vedoca’s Herbal Care, Lily of the Desert, Pokonobe Inc., Aloe Farms, Houssay Global, and Cady products LLC.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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