According to a new market research report published by Credence Research, Inc. “Aloe Vera Product Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” aloe vera product market was valued at US$ 1.6 Bn in 2016, and is expected to reach US$ 2.7 Bn by 2025, expanding at a CAGR of 6.2% from 2017 to 2025.
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Aloe vera has around 420 species of the aloe; the botanic name of aloe vera is “aloe barbadensis miller”. The aloe vera plant is about one or two feet tall with touchy and bitter leaves, which guard it to keep animals and insects away from feeding. Aloe vera has a luminous gel contain around 96% water, some organic and inorganic compounds, a type of protein which contains 18 of the 20 amino acids found in the body, and Vitamin A, B, C and E. Aloe Vera an herbal plant contains antiviral and antibacterial properties, it is used to treat everything from constipation to diabetes. It’s the core of a various large industry that have expanded their business from beauty creams to healthy juices and diet supplements.
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Aloe gel is used for treating bowel diseases, osteoarthritis, fever, itching and inflammation. It is used as a natural remedy for stomach ulcers, diabetes, asthma, and for calming side effects of heat treatment. Aloe also helps to improve immune system. Various research studies are ongoing to discover the potential of the components to boost immunity and fight the HIV virus, and to treat certain types of cancer. The juice helps in healing and soothing in the relief of indigestion, stomach distress and ulcers.
Improving lifestyle due to rise in economic factors and increasing awareness about aloe vera mainly in Asia Pacific leads to the growth of aloe vera product market in the region. Increasing demand for aloe vera majorly comes from Asia Pacific which in turn will drive aloe vera market size in the forecast period. Along with the increasing use of natural products in cosmetics industry is driving the industry growth. Robust growth in North America & Europe is due to the growing consumer awareness about the numerous health benefits associated. Latin America and Middle East & Africa would show slow growth rate.
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Some of the major companies operating in the market include Aloe Farms, Inc., Aloe Laboratories, Inc., Aloecorp, Inc., Foodchem International Cooperation, Herbalife, Lily of the Desert Organic Aloeceuticals, Natural Aloe Costa Rica S.A., Pharmachem Laboratories, Inc., Terry Laboratories, Inc.
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