Aloe Vera extract is derived from plant of the genus aloe. Tropical climate conditions suits the growth of Aloe Vera. Aloe Vera extract has antioxidant and antibacterial properties. It is most commonly used for food, cosmetics and medicines .The extract are used to formulate Aloe Vera based products such as gels, powders, capsules, drinks and concentrates. Aloe Vera is used for curing skin diseases, cardiovascular diseases, weight loss and others. The above stated factors are the main reason for the increasing consumption of the aloe vera around the globe. Aloe vera is used for a variety of medicinal purposes. It is a perennial, tropical, drought-resistant plant. Aloe vera consists of various ingredients including vitamins, enzymes minerals, and organic acids. The extract of the aloe vera plant is used in many industries such as beverages, pharmaceuticals, and cosmetics. It has aromatic and medicinal properties. The physical and chemical properties of aloe vera depend on climatic factors and surrounding conditions.
Market Size and Forecast
The global aloe vera extract market revenue is expected to grow at a healthy CAGR around 7.5 % over the forecast period .The global aloe vera extract market is expected to reach around USD 2.5 Billion during 2017-2027.Major factors that fuel the market of aloe vera extract over the forecast period are the increasing trend of customers towards adopting healthy lifestyle coupled with increasing application of aloe vera extract in various end user industries such as food, pharmaceutical and cosmetics. The major trend witnessed in the global aloe vera extract market is increasing application of aloe vera in sugar free drinks. The global aloe vera extract market is anticipated robust growth over the predicted period owing to the the rising number of health conscious consumers coupled with increasing consumer awareness regarding the benefits of aloe vera extract
Global aloe vera extract market is segmented into product type, form and end user industry. On the basis of end user industry global aloe vera extract market is segmented into food, cosmetics and pharmaceutical industry. Cosmetics industry has highest market share of the overall aloe vera extract market size in 2016. The major factor attributing to the market growth of cosmetic segment is increasing application of cosmetic products by consumers which is made up of bio ingredients.
By region, global aloe vera extract market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is expected to contribute highest market share which is followed by Europe over the forecasted period. In North America especially U.S. is anticipated to contribute maximum market share on the account of the increasing number of health conscious consumers coupled with high disposable income of consumers.
Asia Pacific is expected to witness highest growth over the forecast period owing to the rising per capita income of consumers in various countries. Moreover, increasing number of health conscious consumers which leads to the inclination of consumers towards using aloe vera coupled with rising awareness regarding benefits of using aloe vera.
Our-in depth analysis of the Global Aloe Vera Extract market which includes the following segments:
By End-use Industry
Global Aloe Vera Extract market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Increasing consumer awareness regarding the benefits of the aloe Vera coupled with consumer inclination towards the aloe vera product rather using chemicals which are causing adverse impact on their skin and health. The changing lifestyle and increasing awareness among the consumer are major driving factor which has strong impact on the Aloe vera extract market. It has various health benefits such as prevention from diabetes, ulcers, constipation etc. These factors strengthen the opportunities for the market players to establish foothold in the aloe vera extract market.
There are also various challenges associated with market such as price of the premium quality of aloe Vera extract, strict government regulations .The adulteration in aloe Vera extract is also a major restraining factor which is affecting the market globally.
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