Newark, July 20, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 2.3 billion in 2022 aloe vera extract market will reach USD 5.1 billion by 2032. The demand for natural and organic goods, growing knowledge of the health advantages of aloe vera, and the development of the skincare and cosmetics industries have all contributed to the market for aloe vera extract seeing substantial expansion in recent years. Aloe vera extract is a well-liked component in skincare products including lotions, creams, and serums because of its anti-inflammatory, antibacterial, antioxidant, and moisturizing qualities.
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Key Insight of the Aloe Vera Extract Market
Asia Pacific is anticipated to expand at the fastest CAGR of 9.8% over the projection period.
Asia Pacific is expected to grow at the fastest CAGR of 9.8% over the forecast period. In APAC, India and China are the two largest revenue producers. The primary driver of market expansion in this region is the expansion of the pharmaceutical and cosmetic sectors. The need for skincare and cosmetics is anticipated to rise as per capita income levels rise along with population growth. The global market for cosmetics is growing rapidly in India. A further factor driving the demand for the product in the area is the growing concentration of herbal product producers in rural regions, like Dabur, Patanjali, and Himalaya Drug Company.
In the aloe vera extract market, the pharmaceutical segment is anticipated to expand at the highest CAGR of 9.6% over the projection period.
The pharmaceutical segment is anticipated to expand at the highest CAGR of 9.6% over the projection period. The demand for items in the sector is being driven by an increase in the usage of herbal remedies for the treatment of different diseases, including diabetes. Moreover, as aloe Vera juice is frequently used for weight reduction, immune boosting, and digestion improvement, growing awareness of healthy living practices is anticipated to raise product demand in the pharmaceutical industry.
In the aloe vera extract market, the Liquid segment is anticipated to expand at the highest CAGR of 8.9% over the projection period.
The Liquid segment is anticipated to expand at the highest CAGR of 8.9% over the projection period. In the beverage business, liquid aloe vera extract is often employed, especially in the creation of aloe vera drinks and health drinks. In order to make hydrating and refreshing drinks, aloe vera juice or gel is combined with water and other ingredients. Aloe vera beverages are frequently promoted as natural alternatives for sugary drinks and are renowned for their possible digestive advantages. The market for aloe vera extract in liquid form offers beverage producers the chance to create novel, useful drinks that cater to customers who are health conscious.
In the aloe vera extract market, the Online segment is anticipated to expand at the highest CAGR of 10.2% over the projection period.
The Online segment is anticipated to expand at the highest CAGR of 10.2% over the projection period. Online marketplaces like Alibaba, Amazon, eBay, and several regional platforms offer a practical platform for producers to sell items containing aloe vera extract to customers directly. These platforms provide manufacturers with a broad audience and easy access to a global customer base, enabling them to increase their market presence outside of their physical location. Small and medium-sized firms have the chance to enter the Aloe vera extract industry and compete against bigger competitors because of e-commerce platforms.
Report Scope and Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Forecast CAGR | 8.2% |
| 2032 Value Projection | USD 5.1 Billion |
| Market Size in 2023 | USD 2.3 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 236 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Application, Product, Distribution channel |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Aerial Imaging Market Growth Drivers | In a variety of industries, including skincare, cosmetics, medicines, and food and beverages, customers have become more health-conscious and are looking for natural and organic alternatives. |
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Market Dynamics
Driver
The desire for youthful, healthy skin, rising disposable income, and changing aesthetic standards have all contributed to the substantial rise of the cosmetics and skincare industry in recent years. Due to its hydrating, calming, and renewing characteristics, aloe vera extract is frequently utilized in cosmetics and skincare products. Aloe vera extract is more in demand as natural and plant-based components become more popular in these sectors.
Opportunity
The functional food and pharmaceutical industries are expanding significantly as consumers place more importance on wellness and preventative healthcare. With its nutritive qualities and health advantages, aloe vera extract may be used in the creation of functional foods and nutritional supplements. Aloe vera extract may be used in functional meals, health beverages, and supplements to take advantage of this expanding market.
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Some of the major players operating in the aloe vera extract market are:
• Terry Laboratories, Inc.
• Pharmachem Laboratories, Inc.
• Natural Aloe Costa Rica S.A.
• Lily of the Desert Organic
• Foodchem International Corporation
• Aloecorp, Inc.
• Aloe Laboratories, Inc.
• Aloe Farms, Inc.
Key Segments cover in the market:
By Application
• Cosmetic
• Food & Beverages
• Pharmaceutical
By Product
• Gels
• Capsule
• Powder
• Liquid
By Distribution Channel
• Online
• Offline
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About the report:
The global transportation management systems market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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