Aloe Vera Extract Market Likely To Reach USD 2.82 Billion By 2028
Increasing awareness of the health benefits of aloe vera, and the increasing use of aloe vera extract in the food and beverage industry are factors driving the global Aloe Vera Extract market in the forecast period 2024-2028.
As per the TechSci Research report
titled "Aloe
Vera Extract Market – Global Industry Size, Share, Trends,
Competition Forecast & Opportunities, 2028," the Global Aloe
Vera Extract Market reached USD 2.82 billion in 2022, projecting an 8.5% CAGR
during the forecast period, 2024-2028. The market's substantial growth and
evolution are attributed to a convergence of factors, including a shift in consumer
preferences towards natural solutions and the plant's diverse applications
across industries.
Aloe Vera has become a central player in the
natural and wellness-driven trends, owing to its numerous health and skincare
advantages. This has driven the global expansion of the market as consumers
increasingly seek products aligned with their health and environmental
concerns. Aloe Vera's versatility and benefits have positioned it as a vital
ingredient in various sectors, shaping the modern landscape of natural and
wellness-focused products worldwide.
One of the primary drivers of the Aloe Vera
extract market is the growing consumer inclination toward natural and
plant-based products. Consumers seeking safer and more sustainable alternatives
in the face of rising awareness about synthetic chemicals have embraced Aloe
Vera. Its inherent soothing, moisturizing, and healing properties make it a
quintessential ingredient in skincare, personal care, and wellness products.
The holistic wellness movement, influencing
purchasing decisions across industries, aligns seamlessly with Aloe Vera's
benefits that cater to both internal and external well-being. From skincare to
functional foods, Aloe Vera's potential for promoting digestion, immunity, and
overall health resonates with consumers seeking a holistic approach to
wellness.
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The cosmetics and personal care segment stands
out as a major growth driver within the Aloe Vera extract market. Brands are
harnessing Aloe Vera's multifaceted attributes to create a wide array of
products that cater to consumers' desires for effective and gentle skincare.
Beyond cosmetics, Aloe Vera's potential for internal consumption has gained
traction, spurring its integration into functional foods, beverages, and
dietary supplements.
The digital age has revolutionized consumer
access to Aloe Vera-based products through e-commerce platforms and digital
marketing strategies. This transformation has facilitated consumer education
and engagement, contributing to the market's growth.
The global Aloe Vera extract market is
segmented into product, application, distribution channel, regional
distribution, and company. The liquid segment is emerging as the
fastest-growing category, offering versatile incorporation into various
products. It meets the demand for multifunctional and accessible solutions
across industries.
Major companies operating in Global Aloe
Vera Extract Market are:
- Aloe Farms, Inc.
- Natural Aloe Costa Rica S.A.
- Foodchem International Corporation
- Aloecorp, Inc.
- Aloe Laboratories, Inc.
- Terry Laboratories, Inc.
- Pharmachem Laboratories, Inc.
- Aloecorp, Inc.
- Ashland LLC.
- Lily of the Desert Organic
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Mr. Karan Chechi, Research Director at TechSci
Research, emphasizes, "The global Aloe Vera extract market is thriving due
to the increasing demand for natural and holistic solutions in health, beauty,
and wellness. Aloe Vera's versatile attributes, from skincare to functional
foods, align with trends such as clean beauty, internal wellness, and
sustainability. This growth is propelled by consumer preferences for effective,
plant-based products and the adoption of e-commerce and digital strategies for
global reach. Challenges include quality control, regulations, and supply chain
concerns. Despite obstacles, the market is poised for continued expansion as
Aloe Vera extracts continue to cater to the evolving needs of health-conscious
consumers across industries."
The report "Aloe Vera Extract Market By
Product (Gels, Capsule, Powder, Liquid), By Application (Cosmetic, Food &
Beverages, and Others (Pharmaceutical)), By Distribution Channel (Direct Sales,
Indirect Sales), By Region, By Competition Forecast & Opportunities,
2018-2028F" evaluates the future growth potential of
the global Aloe Vera extract market, providing statistics and information on
market size, structure, and future growth. The report aims to offer
cutting-edge market intelligence and assist decision-makers in making sound
investment decisions, identifying emerging trends, drivers, challenges, and
opportunities in the global Aloe Vera extract market.
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