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 Insights
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 growing recognition of the medicinal benefits of aloe vera in addressing conditions such as diabetes and skin ailments has led to an upsurge in the demand for natural and organic beauty products, incorporating aloe vera extracts. Many companies are dedicating resources to research and development, launching inventive products to gain a competitive edge and enhance their worldwide presence. Presently, a notable trend within the market involves the expanding utilization of aloe vera extracts in sugar-free beverages, which is projected to widen the product's range of applications. Noteworthy markets for manufacturers include India, China, and the U.S., driven by an increasing consumer consciousness regarding adopting a healthier lifestyle.
Aloe Vera extracts find extensive use in addressing a variety of health concerns, encompassing skin conditions, hair loss, oral health, and even cancer. Escalating pollution levels alongside a busy way of life have contributed to a higher incidence of these health issues, providing impetus to market expansion. Additionally, the rising instances of diabetes are poised to create fresh opportunities for the sector, as a growing number of diabetic individuals are turning to herbal extracts for managing their condition.
Moreover, the increased integration of aloe vera products in medical facilities is also a factor projected to drive the global market's growth in the near future. Furthermore, the use of aloe vera in a diverse range of cosmetic items like tanning creams, lipsticks, stretch mark creams, moisturizers, and soaps is likely to contribute to rapid market expansion.
US Aloe Vera Extract Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Aloe Vera Extract Market Report Snapshots
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