The global aloe vera extracts market was valued at US$ 1,839.7 Million in 2018, according to Global Aloe Vera Extracts Market Report, by Product Type (Aloe Vera Gel Extract, Aloe Vera Whole Leaf Extract, Others), by Form (Gel, Drinks, Powders, Capsules, and Concentrates), by End-Use Industry (Food, Cosmetics, and Pharmaceuticals), and by Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) published by . Definition of Market/Industry: Aloe vera extract is extracted from the inner parts of the aloe plant leaf and has numerous benefits on skin conditions such as acne, an inflammatory skin condition, inflammation in the mouth, radiation-induced skin damage, and burning mouth. Moreover, aloe vera extract is also used in the treatment of asthma, seizures, colds, bleeding, swelling of the colon (colitis), eye conditions that cause blindness (glaucoma), hemorrhoids, joint inflammation, multiple sclerosis, varicose veins, osteoarthritis, and vision problems. Moreover, aloe vera extract is also applied to the skin as an insect repellent. Statistics: The global aloe vera extracts market was valued at US$ 1,839.7 Mn in 2018 and is anticipated to reach US$ 3,697.4 Mn by the end of 2027, growing at a CAGR of 8.2% during the forecast period (2019 to 2027). Drivers: Increasing consumer preference for natural and healthy remedies is a prime factor fueling the market growth of aloe vera extract. The rising launch of aloe vera based products on the market is also projected to propel the market growth of aloe vera extract. For instance, in June 2019, MYUNGIN launched a new product in Naturalist ‘Farmstay’ which is a representative brand of Myung in cosmetics. The product has an excellent moisturizing and holding power that keeps moisture with little stickiness and lightly penetrates. Rising consumer spending on healthy and nutritious products due to the increasing disposable income of the people is further projected to fuel the market growth. Market Opportunities: Growing usage of aloe vera extract in the manufacturing of digestive heal products such as prebiotic and probiotics which support digestive health is projected to offer immense growth opportunity to the market growth aloe vera extract. Moreover, aloe vera-based products are rich in calcium, magnesium and have sufficient prebiotic activity. For instance, in April 2018, Herbalife is strengthening its digestive health category in India with the launch of Herbal Aloe Concentrate. This brings the total number of Herbalife products in the digestive health category. Herbal Aloe concentrate is formulated with premium-quality aloe vera to support digestive health. It can be used as a refreshing drink when mixed with water and can serve as a healthy replacement for soft drinks or high-sugar juices, as the product is low in calories. Market Restraints: Lack of proper harvesting method has affected the quality of aloe vera extract and does not contain the optimum nutrients. This is expected to hamper the market growth of aloe vera extract. Moreover, increasing usage of chemicals in order to prevent deterioration in the product is further projected to hinder the market growth of aloe vera extract. Also, the processing method includes a high level of heat that can damage the useful bio-active ingredients and impact the quality of the raw material and leads to adulteration. According to Terry Laboratories’ Jim Gambino, numerous companies use fillers or cornstarch in their raw materials or finished products and pass them off as pure aloe vera products. Market Trends: Increasing usage of aloe vera in the production of Zero sugar beverages is presumed to add enormous growth to the market of aloe vera extract. Many manufacturers of aloe vera products are rapidly introducing low-calorie fruit juice and packaged drinking water containing aloe vera. For instance, in February 2016, Grace Foods – Caribbean food and beverage specialist – introduced three aloe vera drinks: Grace Aloe Zero, Grace Aloe Refresh, and Grace Aloe Smooth, thereby expanding a range of reduced or zero sugar alternatives to fruit smoothies, carbonated drinks and flavored waters in the market. Competitive Section: Company Names
Few Recent Developments: Foodchem International Corporation Key Development:
Natural Aloe De Costa Rica S.A.
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By End-Use Industry