Aloe Vera Juice Market size is poised to cross USD 2.1 Billion by the end of 2033, growing at a CAGR of 9% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of aloe vera juice was over USD 0.97 Billion. The increasing prevalence of this diabetes disease and its resulting expenses are factors that are boosting the demand for aloe vera juice among healthcare practitioners. Additionally, early research has shown that consuming aloe vera juice helps in managing diabetes symptoms effectively. For instance, over 37 million nearly 11% of the United States population had diabetes in the year 2019. It was found that the consumption of aloe vera juice and extract helps in lowering high sugar levels in diabetic patients and keeps diabetes in check.
Aloe vera is a moist plant species that grows in tropical climatic conditions across the globe. It is generally cultivated for food, medicinal and cosmetics uses. Aloe vera extracts find wide applications in the medical and food & beverages sectors. These extracts are used to produce aloe vera drinks and food in with the purpose to minimize the burden of diseases. The demand for aloe vera extracts is growing in food and beverage industries across the globe owing to its cost-effectiveness, availability, and growing consumer preferences for aloe vera products over flavor essence products. Moreover, the growing number of elderly people around the world coupled with increasing consumption of aloe vera juice to reduce the risk of chronic diseases among the older population is expected to augment market growth over the forecast period. As per the data from the World Bank, the total number of elderly people aged above years was 747,238,580 at the end of the year 2021.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
9% |
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Base Year Market Size (2022) |
USD 0.97 Billion |
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Forecast Year Market Size (2033) |
USD 2.1 Billion |
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Regional Scope |
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Application (Food & Beverages, Medicine, Cosmetics & Skincare)
The global aloe vera juice market is segmented and analyzed for demand and supply by application into food & beverages, medicine, and cosmetics & skincare. Among these segments, the cosmetics & skincare segment is anticipated to capture the largest market size in the global aloe vera juice market owing to the widespread use of aloe vera juice and extracts in the making of various skincare products such as moisturizers, face serums, and eye creams. Aloe vera is a therapeutic and medicinal plant with skin-healing properties. In addition, the rapid expansion of the cosmetic and skincare industry is expected to augment segment growth over the forecast period. It was observed that the global cosmetics industry is worth nearly USD 380 billion. Skincare products account for 41% of the overall cosmetics industry.
Our in-depth analysis of the global aloe vera juice market includes the following segments:
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By Type |
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By Flavor Type |
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By Application |
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By Distribution Channel |
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North America Market Forecast
The North America aloe vera juice market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, backed by the higher prevalence of skin diseases such as psoriasis and eczema. For instance, nearly 7.4 million people in the United States have psoriasis, and over 30 million people have some form of eczema. As a cooling, soothing, antiviral, and moisturizing effect, aloe vera juice is consumed widely to treat such diseases. Moreover, the rising awareness of aloe vera health benefits, the growing elderly population, the presence of key manufacturers in the region along with increasing popularity of natural food products are anticipated to drive the aloe vera juice market in the region.
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Author Credits: Anil Kumar, Ipsheeta Dash
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