Aloe vera is a plant species from the Aloe genus. It is majorly found in tropical climatic areas. Also, it is widely used for medicinal food and cosmetic purposes. Aloe vera extract is made using the inner parts of aloe leaf. It has a wide range of benefits for an array of conditions including inflammatory skin, burning mouth, acne, skin damage, and many others.
The growing awareness among people regarding the medicinal properties of aloe vera for treating maladies including hair skin and other diseases is likely to significantly fuel the growth of the global aloe vera extract market during the forecast period. There is surging expenditure on nutritious and healthy products owing to the constantly growing disposable income of people all across the globe. However, the growing inclination of consumers towards natural and healthy remedies is another primary reason for boosting the growth of the market significantly. The transforming consumer lifestyle especially in the developing economies like India and China due to the growing socio-economic aspects in the region will propel the demand for premium herbal cosmetic products. Furthermore, the growing issues due to the use of chemical products will further escalate the adoption of products made of natural extracts like aloe vera extract. Manufacturers are boosting the research activities in order to launch distinctive products in the market to widen their customer base and generate huge revenue out of the market.
The global aloe vera extract market can be segmented into the distribution channel, application, product, and region.
By distribution channel, the market can be segmented into online and offline channels.
By application, the market can be segmented into cosmetics, pharmaceutical, and food applications.
By product, the market can be segmented into gels, liquids, powders, capsules, and others.
Asia Pacific accounts for the largest share in the global aloe vera extract market due to the growing focus of people in the region on their beauty and appearance. Furthermore, the growing pharmaceutical and cosmetic sectors are likely to significantly propel the growth of the regional market in the forthcoming years.
North America is expected to be the fastest-growing region in the global aloe vera extract market due to the growing adoption of herbal products by people in the region.
Some of the significant players in the global aloe vera extract market are Cady products LLC, Pharmachem Laboratories Inc., Houssy Global, Natural Aloe Costa Rica S.A., Aloecorp Inc., Aloe Farms Inc., Lily of the Desert Organic Aloe Ceuticals, Foodchem International Corporation, Pokonobe Inc., Terry Laboratories Inc., and Aloe Laboratories Inc. To cite, Harmony Green America, Inc. introduced EVOH aloe juice bottle to augment the demand for aloe juice in Asia Pacific region.
Having a Master’s Degree in Brewing Technology and overall experience of 6 years in the field of writing, Jerri has been one of the most workaholic and dedicated team members of thefoodbeveragenews.com portal. She has been a part of this portal for 4 years now. Jerri started a career in writing with freelancing and the journey has been worth watching and appraising. She handles the Beverage Industry domain of the portal and along with her team provides all the vital and up-to-the-minute news and reports to the readers in a simple and comprehensible manner.