Aloe Vera Extract Market Size Worth .67 Billion By 2025 | CAGR 7.6%
Posted by Nicky Arora on April 29th, 2021
The global aloe vera extract market size is expected to reach USD 2.67 billion by 2025 registering a CAGR of 7.6%, according to a new report by Grand View Research, Inc. Rising importance of herbal extracts owing to their potential benefits in preventing various health disorders is driving the product demand. Moreover, shifting consumer preference for natural and organic products over chemical-based products is expected fuel the demand further.
Juice/liquid product segment held the largest share in the global market in 2018 due to increased consumption of juice for the treatment of obesity and diabetes in countries, such as India and China. Gel segment is witnessing a significant growth due to rising demand for gel-based products, such as soaps, shampoos, and moisturizers. Online distribution channel segment is expected to witness the fastest growth over the forecast period. In Europe, around 50% of cosmetic manufacturers have their own online distribution channel.
Various small-scale organic product manufacturers sell their products through their own websites. These factors are driving the segment growth. Moreover, increasing penetration of smartphones coupled with the digitalization has increased the scope of online channels. In the European market, Germany account for the highest share of this segment. Asia Pacific led the global market accounting for 30.6% of the overall market share. The region is expected to maintain its dominance over the forecast period owing to increasing demand for herbal cosmetics in the region.
China held the major share of Asia Pacific market in 2018 and is likely to expand further at a CAGR of 8.9% from 2019 to 2025. Aloe Vera juice is used for the treatment of diabetes, cancer, and obesity. Increasing prevalence of diabetes in the country is expected provide growth opportunity for the market over the forecast period.
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Aloe Vera Extract Market Report Highlights
Aloe Vera Extract Market Segmentation
Grand View Research has segmented the global aloe Vera extract market on the basis of product, application, distribution channel, and region:
Aloe Vera Extract Product Outlook (Revenue, USD Million, 2015 - 2025)
Aloe Vera Extract Application Outlook (Revenue, USD Million, 2015 - 2025)
Aloe Vera Extract Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
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About the AuthorNicky Arora
Joined: October 15th, 2019
Articles Posted: 389
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