Articles
Consumer Preference for Herbal Products opening new avenues for Aloe Vera products: Ken Research
by Rati Ram Business DeveloperThe
global population’s appeal for aloe vera products has caused fierce competition
among companies to gain competitive advantage and expand their global presence.
According to study, ‘Global Aloe Vera Extract Market Status (2015-2019) and
Forecast (2020-2024),
the major players in the market are Aloe Farms, Inc.; Lily of the Desert
Organic Terry Laboratories, Inc.; Aloeceuticals; Pharmachem Laboratories, Inc.;
Natural Aloe Costa Rica S.A.; Foodchem International Corporation; Aloe
Laboratories, Inc.; and Aloecorp, Inc. These companies have undertaken various
business expansion strategies such as new product launch, R&D, and M&A.
Aloe
Vera, exhibiting antibacterial properties and acting as an antioxidant, has
been used for centuries around the world. Due to its numerous advantages, aloe
vera finds major applications in the food, pharmaceutical, beauty, and personal
care industry. Owing to the global popularity of conventional medicines, aloe
vera didn't have much fame in the global market. But with the global population
facing side effects of conventional products, organic products have started
gaining the deserved traction, with aloe vera products being their favorite
choice.
In
recent years, increased awareness about the benefits of aloe vera extracts has
resulted in soaring global demand. The
medical importance of aloe vera in the treatment of medical conditions like
diabetes, skin diseases, mouth ulcers, constipation, etc. has been the major
reason for the increased demand for natural and organic cosmetics such as aloe
vera products.
Based
on the product type aloe vera extract market is segmented into liquid, gel,
powder, capsules, and concentrates, with the liquid being the largest segment
accounting for more than half share of the overall market and is also
anticipated to remain a prominent segment over the forecast period. Growing
demand for ammonia, sulfur, paraben-free products is likely to augment the
demand for gel products. Added to this aloe vera’s attribute of acting as a
cure for sunburns or burn injuries will fuel the segment growth in the next few
years. Sparked by the rising burden of dental problems, the global aloe-vera
extracts powder market is expected to witness a high CAGR by the end of the forecast period.
The
major segments on the basis of the end-use industry are the food, cosmetic and
pharmaceutical industries. Cosmetics have been a prominent segment and are
anticipated to account for the highest share in aloe vera extracts market by
the end of the forecast period. The young generation’s preference for herbal
and organic products has resulted in shooting up the demand for aloe vera
extract cosmetics.
Increased
use of organic and herbal medicines is propelling the product demand in the
pharmaceutical segment. Adoption of healthy lifestyle practices has also been
an additional factor in the rising demand as aloe vera is considered beneficial
for immunity and digestion. However, with the rising adoption of natural and
organic ingredients in food products, aloe vera extracts market by the food
industry is projected to witness a high CAGR over the forecast period.
The
Asia Pacific is a prominent region and accounted for a large share in the
global market. It is expected to remain the dominant regional market throughout
the forecast period. China and India are the major revenue-generators in APAC.
Increasing per capita income levels coupled with a growing population is expected
to fuel the demand for skin care and cosmetic products. Followed by the Asia
Pacific, North America was the largest market. The region is expected to
register a very high CAGR over the forecast period. Europe is also one of the
promising markets and is expected to witness significant growth over the
forecast period. All the aforementioned factors will lead to increased demand
for aloe vera extracts in the global market in the coming years.
For More Information, refer to
below link:-
Global
Aloe Vera Extract Market
Related
Reports:-
Global
Aloe Vera Extracts Market Report 2019, Competitive Landscape, Trends and
Opportunities
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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About Rati Ram 
Business Developer
173 connections, 3 recommendations, 575 honor points.Joined APSense since, February 12th, 2014, From Gurgaon, India.
Created on Feb 25th 2020 01:15. Viewed 408 times.
