Aloe Vera Extracts Market Expected to Grow at a VOLUME CAGR of 7.4% during 2016 to 2026
Posted: Jun 09, 2017
Aloe vera is a moist plant species of the genus aloe. It basically grows in tropical climatic conditions in various countries across the globe. Aloe vera is generally cultivated for food, cosmetics and medicinal uses. Aloe vera leaves comprise phytochemicals under study for possible bioactivity, such as acetylated mannans, polymannans, anthraquinone C-glycosides, anthrones, other anthraquinones such as emodin and various lectins. Aloe vera extracts find wide application in the food, pharmaceutical and cosmetics industry. The extracts are used to formulate aloe vera based products such as powders, gels, capsules, drinks and concentrates. Aloe vera is known to alleviate skin related ailments, cardiovascular diseases, weight loss and many more. Owing to these factors, consumption of aloe vera among consumers across the world has been on the rise.
Market Value and Volume Forecast
The global aloe vera extracts market revenue is anticipated to expand at a CAGR of over 7.7% in terms of value and 7.4%, in terms of volume during the forecast period. Factors such as increasing trend of consumers towards healthy lifestyle, coupled with increased usage of aloe vera extracts as an ingredient by food, pharmaceutical and cosmetics industries is fuelling market growth across the globe. Currently, the major trends witnessed in the global aloe vera extracts market are: usage of aloe vera in zero sugar drinks, as well as exploring usage of new aloe vera species.
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Segmentation, by Product Type
The global aloe vera extracts market is segmented based on product type into: aloe vera gel extracts, aloe vera whole leaf extracts and others. In 2015, of these segments, the aloe vera whole leaf extracts segment dominated the market in terms of value and volume, and it expected to remain dominant over the forecast period. Meanwhile, the aloe vera whole leaf segment is expected to expand at the highest CAGR in terms of value during the forecast period
Segmentation, by Form
In this report, the aloe vera extracts market is segmented on the basis of form into: concentrates, gels, powders, capsules and drinks. In 2015, among all these segments, the drinks segment accounted for largest value share in the global market.
Segmentation, by End Use Industry
On the basis of end use industry, the global aloe vera extracts market is segmented into food, pharmaceutical and cosmetics segments. Among these segments, the cosmetics segment dominated the overall market in terms of value in 2015, which is expected to expand at a CAGR of 7.7% over the forecast period.
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On the basis of geography, the global edible nuts market is segmented into seven major regions – North America, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan, Eastern Europe, Latin America and the Middle East & Africa (MEA). Of these various markets in these regions, Asia Pacific is expected to witness favorable growth in terms of volume and value over the forecast period. In terms of value, the Western Europe market is expected to account for a major share of the market over the forecast period.
Some of the key players identified in the global aloe vera extracts market are Lily of the Desert Organic Aloeceuticals, Aloe Farms Inc., Terry Laboratories Inc., Foodchem International Corporation, Natural Aloe Costa Rica S.A., Pharmachem Laboratories Inc., Aloecorp Inc., and Aloe Laboratories Inc.
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