Product ID: SQMIG30L2213
Global Aloe Vera Extract Market Size, Share, Growth Analysis, By Product(Capsule or Tablet, Powder), By Application(Food, Pharmaceuticals), By Distribution Channel(Offline, Online) - Industry Forecast 2024-2031
Report ID:
SQMIG30L2213 |
Region:
Global |
Published Date: March, 2024
Pages:
198
|
Tables:
90 |
Figures:
76
Global Aloe Vera Extract Market Regional Insights
The Asia Pacific region emerges as a prominent contender, securing a noteworthy 30.6% stake in the global market. This supremacy is projected to endure consistently throughout the envisaged forecast period. Notably, China and India stand out as pivotal revenue generators within the APAC context. The driving force behind this thriving market is the burgeoning pharmaceutical and cosmetic industries, which collectively steer the trajectory of market growth in this geographical zone. The confluence of increasing per capita income levels and a steadily expanding population augments the demand for skincare and cosmetic products, effectively contributing to the region's market dynamics. Remarkably, India has positioned itself as the world's fastest-growing cosmetics market, propelled by this very trend.
Furthermore, the surge in herbal product manufacturers, including renowned entities such as Patanjali, Dabur, and the Himalaya Drug Company, congregating within rural areas, exerts an additional impetus on product demand within the region.
Following the Asia Pacific's lead, North America emerged as the largest market. With an anticipated Compound Annual Growth Rate (CAGR) of 8.7% throughout the forecasted period, this region boasts a multitude of major product manufacturers, particularly concentrated in the United States. The elevated usage of aloe vera products for diverse applications, including addressing cancer and diabetes, notably drives the regional market dynamics.
Moreover, Europe emerges as another promising market, poised to experience substantial growth over the forecasted timeline. The escalating awareness concerning the prospective health advantages of aloe vera products is anticipated to underpin the heightened demand. In parallel, consumer preferences leaning towards natural and herbal cosmetics offer a fresh avenue of opportunity for the market to explore and expand.
Global Aloe Vera Extract Market Report Snapshots
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