Aloe Vera Derivatives Market Overview:
The growing awareness about the benefits of aloe vera, which contains antioxidants, minerals, vitamins, and other beneficial bioactive compounds, is likely to be the major driver for the global aloe vera derivatives market over the forecast period. Other major drivers and restraints operating on the global aloe vera derivatives market are also profiled in the report, which provides readers a comprehensive overview of the market’s likely growth prospects over the forecast period. The leading players in the global aloe vera derivatives market are also profiled in the report in order to provide readers with a comprehensive overview of the competitive landscape of the market.
The global Aloe Vera Derivatives Market Size is expected to exhibit a strong 6.4% CAGR over the forecast period from 2022 to 2030 to reach a market valuation of more than USD 4,059.63 Million by 2030, according to the latest research report from Market Research Future (MRFR). According to the MRFR report, the global aloe vera derivatives market is primarily driven by the growing demand for aloe vera derivatives in food and beverage and personal care product applications.
Aloe vera derivatives are widely used in the pharmaceutical and personal care product industries due to the benefits of aloe vera products in skin care and regeneration. Aloe vera helps retain moisture in the skin, keeping it stretchy and young for a longer period of time. It also protects the skin from bacterial and fungal pathogens, which may invade the body through the skin. Due to the cosmetic as well as protective benefits of aloe vera, it has become a staple in personal care products in the last few years. The growing demand for naturally derived chemicals in the personal care products industry is likely to be a major driver for the global aloe vera derivatives market over the forecast period.
The food and beverage industry is likely to emerge as a leading end user in the global aloe vera derivatives market over the forecast period. The growing demand for plant-based beverages is likely to drive the demand for aloe vera derivatives in the food and beverage sector. Aloe vera derivatives are also used in healthy foods apart from beverages, which is likely to be a key driver for the global aloe vera derivatives market. The growing food and beverage industry and the growing scope for healthy foods in the global food and beverage sector is likely to be a major driver for the global aloe vera derivatives market over the forecast period.
Competitive Analysis:
Leading players in the global aloe vera derivatives market include OKYALO, Biogenic Foods, Shaanxi Bolin Biotechnology Co. Ltd., Gift Morocco, Omica Organics, Aloe Laboratories, Stockton Aloe 1, Houssy Drinks Co. Ltd., Aloe Vera Australia, and Terry Laboratories LLC.
In April 2019, Craft House released a new line of skin care products named neoVeda, based on ayurvedic principles and formulations. Aloe vera forms a crucial part of these products.
Regional Analysis:
Europe holds the largest share in the global aloe vera derivatives market, followed by Asia Paciifc. North America holds the third largest share. The growing demand for plant-based functional beverages in Europe is likely to be a major driver for the aloe vera derivatives market over the forecast period.
Segmentation:
The global Aloe Vera Derivatives Market Overview is segmented on the basis of type, category, application, and region.
By type, the global aloe vera derivatives market is segmented into gel, powder, and others. The gel segment dominated the global aloe vera derivatives market in 2018 with a market share of more than 52%. Aloe vera powder is also likely to be a highly commercially lucrative component of the global aloe vera derivatives market over the forecast period, as aloe vera powder is widely used in personal care products and cosmetic formulations.
By category, the global aloe vera derivatives market is segmented into organic and conventional. The demand for organic aloe vera products is likely to increase over the forecast period.
By application, the global aloe vera derivatives market is segmented into functional food and beverages, pharmaceuticals and nutraceuticals, personal care products, and others. The personal care products segment holds the largest share in the global aloe vera derivatives market.
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