Global Aloe Vera Products Market is expected to register a growth rate of 6.5% during the forecast period of 2019 to 2024 to reach USD 1.9 Billion by 2024. The nutritional aspect of aloe vera has been extensively analyzed in recent years and has gained attention from several food and healthcare product manufacturers. Aloe vera products are used in various skincare products due to its anti-aging, anti-bacterial, and antioxidant properties. Owing to this, aloe vera helps in treating sunburns and moisturizes and reduces acne and inflammation of the skin. Thus, these factors are expected to boost market growth during the review period.
The aloe vera is a perennial, drought-resistant, and succulent plant belonging to the Asphodelaceae family. Aloe vera is used as a general tonic for the immune system, helping it to fight illness. When aloe vera is used externally, no adverse effects are observed. However, excessive consumption of aloe vera causes colic and diarrhea. Therefore, owing to the potential of aloe vera, manufacturers in the aloe vera industry are focusing on launching products which have sufficient amounts of aloe vera, thereby assisting in detoxifying the body.
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Some of the key players in the global Aloe Vera Products Market are Aloe Vera Australia (Australia), Aloe Plus Lanzarote S.L. (Spain), Lily of the Desert (US), NOW Health Group, Inc. (US), Forever Living.com, L.L.C. (US), Okyalo Co., Ltd (China), Real Aloe Solutions Inc. (US), Patanjali Ayurved Limited (India), Herbalife International of America, Inc. (US), Sarvliving (India), Green Leaf Naturals (US), Warren Laboratories LLC (US), Lakewood Juice Company (US), Biofinest (US), The Nature’s Bounty Co (US) and LR Health & Beauty Systems GmbH (Germany)
In January 2018, LR Health & Beauty Systems GmbH, a German food supplements manufacturer, built a modern production site for aloe vera products in Ahlen, Germany. The company started manufacturing LR Aloe Vera Drinking Gels at this site. With this production site, the company reinforced its claim of ‘Made in Germany’.
Global Aloe Vera Products Market has been segmented on the basis of type, category, and distribution channel.
Based on type, the global aloe vera products market has been segmented into gels, juices, powders, and others. The juice segment is expected to account for the largest share of the global aloe vera products market during the forecast period. Consumers across the globe are increasing their consumption of aloe vera juice due to the high availability and introduction of innovative products such as aloe vera based flavored drinks. Moreover, various health benefits are offered by aloe vera such as reduction in inflammation and cholesterol, reduction of acid reflux and periodontal diseases, and regulation of blood sugar level and digestion. These properties are expected to boost the growth of consumption of aloe vera juice among the consumers during the forecast period.
The global aloe vera products market has been bifurcated, by category, into organic and conventional. The conventional segment is expected to account for the larger market share owing to the easy availability and lower prices of conventional aloe vera products as compared to organically manufactured products. However, the organic segment is projected to register the higher CAGR during the forecast period due to the rising inclination of consumers for organic products.
By distribution channel, the global aloe vera products market has been segmented into store-based and non-store-based. The store-based segment has further been divided into supermarkets and hypermarkets, convenience stores, and others. The store-based segment is projected to account for the larger market share due to the widespread availability of aloe vera products in supermarkets and hypermarkets. Moreover, there is a high preference for store-based channels as they provide a one-stop shopping experience. However, the non-store-based segment is projected to register the higher CAGR due to the increasing adoption of e-commerce in the food & beverage retail.
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The global aloe vera products market has also been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.
The market in Asia-Pacific is expected to account for the largest share of the global aloe vera industry owing to the large-scale agricultural operations and increasing awareness of consumers about the medicinal benefits of aloe vera.
The market in North America is expected to be the fastest growing during the forecast period owing to the increasing awareness regarding the mineral and vitamin content of aloe vera products leading to their use, as ingredients, in various food & beverage products to enhance their nutritional properties. Moreover, as aloe vera is a gelatinous plant food, this gel provides benefits to the body by eliminating wastes and toxins, leading to the detoxification of the body.
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