Aloe Vera Extract Market Size, Share, Revenue, Trends And Drivers For 2024-2033

The Business Research Company’s Aloe Vera Extract Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 2, 2024 /EINPresswire.com/ -- The global aloe vera extract market, derived from the gel-like substance of Aloe barbadensis Miller leaves, is witnessing robust growth. Starting from $2.62 billion in 2023, the market is projected to reach $2.85 billion in 2024, growing at a compound annual growth rate (CAGR) of 8.9%. It will grow to $4.03 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. This growth is driven by increasing consumer awareness of health benefits, rising demand in cosmetics and personal care, and expanding applications in nutraceuticals, dietary supplements, and the food and beverage industry.

Rising Demand in Organic Food Propels Market Growth
The increasing consumer preference for organic food is a significant driver for the aloe vera extract market. Organic products, which avoid synthetic additives and GMOs, are gaining traction globally. According to the Organic Trade Association, organic food sales surged, surpassing $63 billion, with significant contributions from aloe vera extract in various organic food products.

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Key Players and Market Trends
Major companies such as F. Hoffmann-La Roche AG, Herbalife International Inc., and Patanjali Ayurved Ltd. are leading innovations in aloe vera extract products. These innovations include aloe vera juices, which are crafted from the inner gel of Aloe barbadensis Miller leaves and blended with water or fruit juices, catering to the increasing consumer demand for healthy beverages.
In September 2023, KellyDeli Group of Companies introduced a pineapple-flavored aloe vera drink under its brand Kelly Loves, highlighting the market's trend towards functional and palatable aloe vera beverages.

Segments
•Product Form: Liquid, Gel, Powder, Other Product Forms
•Distribution Channel: Offline, Online
•Application: Functional Food, Cosmetics, Pharmaceuticals, Beverages, Other Application Types

Geographical Insights: Europe Emerges as the Fastest-Growing Region
Asia-Pacific dominated the aloe vera extract market in 2023, driven by high consumer demand and production capabilities. However, Europe is anticipated to be the fastest-growing region during the forecast period, reflecting increasing adoption in cosmetics, pharmaceuticals, and functional foods.
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Aloe Vera Extract Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Aloe Vera Extract Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on aloe vera extract market size, aloe vera extract market drivers and trends, aloe vera extract market major players, competitors' revenues, market positioning, and market growth across geographies. The aloe vera extract market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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