The global aloe vera extracts market is growing at a CAGR of 7.2% during the forecast period (2019-2024).
The market is mainly driven by the growing awareness regarding the medicinal properties of aloe vera in the treatment of maladies including diabetes, skin and hair diseases. Also, its use in personal care products (such as cream, lotion, soap, shampoo) and as an ingredient in food and beverages in recent years has been growing significantly and is fueling the market growth.
Favorable government regulatory bodies, such as International Aloe Science Council provides certification for verified growers, processors, marketing companies and testing laboratories to encourage them to increase the production of aloe vera. In addition, the regulatory bodies are also promoting the use of aloe vera in a wide range of products including dietary supplements, skincare products, and beverages.
Key Market Trends
Increased consumption as dietary supplements
Demand for the use of aloevera extract is increasing in the recent years owing to its medicinal benefit it provides to treat many maladies. In addition, favorable regulatory bodies guidelines have led a significant growth of the market. For instance, FDA approved Aloe vera ointment as an over-the-counter medication for skin burns back in 1959. Also, SEFAP has noted the current increasing trend for consumption of food supplements in Italy between the time period 2009 and 2016.
Asia-Pacific to drive the market
Asia-Pacific is dominating the global market of aloe vera extracts, owing to the increased awareness regarding the benefits of aloe vera extracts. Countries such as China and India are driving the region's market owing to its growing demand in the pharmaceutical and cosmetics industries. Also, the functional food industry has been growing steadily which is further fueling the market growth. For instance, Harmony Green America, Inc. launched an organic aloe vera juice in EVOH Bottle. In addition, factors such as increasing spending more towards functional foods, cosmetic and personal care products, has been resulting in the demand to augment the aloe vera extract market in the Asia-Pacific region.
Competitive Landscape
The global market for aloe vera extracts is fragmented, owing to the presence of large regional and domestic players in different countries. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Few of the major players in the global aloe vera market includes Agromayal Botánica S.A. de C.V., Aloe Jaumave S.A de C.V, Aloe Laboratories, Aloe Queen Inc. and Aloecorp among others.
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The market is mainly driven by the growing awareness regarding the medicinal properties of aloe vera in the treatment of maladies including diabetes, skin and hair diseases. Also, its use in personal care products (such as cream, lotion, soap, shampoo) and as an ingredient in food and beverages in recent years has been growing significantly and is fueling the market growth.
Favorable government regulatory bodies, such as International Aloe Science Council provides certification for verified growers, processors, marketing companies and testing laboratories to encourage them to increase the production of aloe vera. In addition, the regulatory bodies are also promoting the use of aloe vera in a wide range of products including dietary supplements, skincare products, and beverages.
Key Market Trends
Increased consumption as dietary supplements
Demand for the use of aloevera extract is increasing in the recent years owing to its medicinal benefit it provides to treat many maladies. In addition, favorable regulatory bodies guidelines have led a significant growth of the market. For instance, FDA approved Aloe vera ointment as an over-the-counter medication for skin burns back in 1959. Also, SEFAP has noted the current increasing trend for consumption of food supplements in Italy between the time period 2009 and 2016.
Asia-Pacific to drive the market
Asia-Pacific is dominating the global market of aloe vera extracts, owing to the increased awareness regarding the benefits of aloe vera extracts. Countries such as China and India are driving the region's market owing to its growing demand in the pharmaceutical and cosmetics industries. Also, the functional food industry has been growing steadily which is further fueling the market growth. For instance, Harmony Green America, Inc. launched an organic aloe vera juice in EVOH Bottle. In addition, factors such as increasing spending more towards functional foods, cosmetic and personal care products, has been resulting in the demand to augment the aloe vera extract market in the Asia-Pacific region.
Competitive Landscape
The global market for aloe vera extracts is fragmented, owing to the presence of large regional and domestic players in different countries. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Few of the major players in the global aloe vera market includes Agromayal Botánica S.A. de C.V., Aloe Jaumave S.A de C.V, Aloe Laboratories, Aloe Queen Inc. and Aloecorp among others.
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Agromayal Botanica S.A. de C.V.
- Aloe Jaumave S.A de C.V
- Aloe Laboratories
- Aloe Queen Inc.
- Aloecorp
- Natural Aloe de Costa Rica
- Terry Laboratories, L.L.C.
- Ashland LLC.
Methodology
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