Global Aloe Vera Extract Market

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 News

  • On March 8 2023, Desert Harvest announced that it had received FDA approval for its aloe vera capsules to treat Interstitial Cystitis (IC), a chronic bladder ailment that affects about 12 million individuals.
  • On February 25 2023, A brand-new line of organic aloe vera gel was introduced by organic cosmetics and personal care company Edens Garden.
  • On January 20 2023, Forever Living Products, a global leader in aloe vera, announced the launch of its new line of aloe vera-based personal care products.
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Global Aloe Vera Extract Market size was valued at USD 2.16 billion in 2022 and is poised to grow from USD 2.42 billion in 2023 to USD 5.99 billion by 2031, growing at a CAGR of 12% during the forecast period (2024-2031).

The competitive landscape of the global aloe vera extract market is characterized by intense rivalry among key players striving to secure their positions in a rapidly expanding industry. Established companies and new entrants alike are vying to capitalize on the growing demand for natural and organic products. Innovation and product differentiation stand as central strategies as market participants race to develop novel applications for aloe vera extracts in diverse industries such as cosmetics, pharmaceuticals, and food. 'Lily of the Desert (United States)', 'Aloe Farms (United States)', 'Terry Laboratories (United States)', 'Aloe Laboratories (United States)', 'Forever Living Products (United States)', 'Aloecorp (United States)', 'Natural Aloe Costa Rica S.A. (Costa Rica)', 'Pharmachem Laboratories (United States)', 'Aloecorp Inc. (United States)', 'Aloe Vera Australia (Australia)', 'Aloe Vera Group (Spain)', 'Aloe Vera of America, Inc. (United States)', 'Foodchem International Corporation (China)', 'Terry Laboratories LLC (United States)', 'Cady Products LLC (United States)', 'Herbalife International of America, Inc. (United States)', 'NOW Health Group, Inc. (United States)', 'Aloecorp Inc. (United States)', 'Aloe Vera Iowa, LLC (United States)', 'Aloin Corporation (United States)'

Increasing awareness about the health benefits of aloe vera extracts, such as its potential to treat skin issues, aid digestion, and manage diabetes, is driving consumer demand for aloe vera-based products.

Integration in Functional Foods and Beverages: Aloe vera extracts are being incorporated into functional foods and beverages like juices, smoothies, and energy drinks due to their potential health benefits, contributing to the diversification of product applications.

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.

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Global Aloe Vera Extract Market

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