Aloe vera also known as Aloe barbadensis is plant that stores water or gel like substance in its leaves. This gel is then extracted from the plant and is used for various medicinal and other health care benefits. The gel consists of water, amino acids, vitamins, minerals, enzymes, hormones, and sugars which is known to act as a great source for healing and soothing beside many other remedial properties. Aloe vera gel also aids in preventing the growth of harmful and infectious bacteria in human body due to its powerful anti-oxidants content. The market has witnessed impressive growth due to rise in application of aloe vera gel in cosmetics, pharmaceutical and food industries.
MARKET SCOPE
The "Global Aloe Vera Gel Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the aloe vera gel market with detailed market segmentation by product type, application and geography. The report provides key statistics on the market status of the leading aloe vera gel market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product type, the global aloe vera gel market is segmented into organic and conventional.
- Based on application, the global aloe vera gel market is segmented into food and beverages, personal care, pharmaceuticals, and others.
MARKET DYNAMICS
Drivers:
- Huge investment by companies operating in skin care to boost the growth of the market. As aloe vera comes with miracle skin benefits which helps to provide hydration and reduce skin inflammation.
- Increase in consumer awareness regarding medicinal benefits of aloe vera to surge the market growth. Consumption of aloe vera in the form of supplements and functional foods has shown good results as immunity boosters, detoxifying agent and good skin and hair health which is gaining traction in the market.
- Consumer shift towards the use of organic products for skin care, cosmetics and food items are driving the market growth.
Restraints:
- Increase in chemicals usage to increase shelf life of a product can become restraint to the market.
- Safety concerns with the usage of aloe vera can act as a restraint to the market. Aloe vera has hydroxyanthracene derivatives which when taken in large amount can lead to potential risks.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South and Central America. The aloe vera gel market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA, and South and Central America after evaluating political, economic, social and technological factors affecting the aloe vera gel market in these regions.
IMPACT OF COVID-19 ON ALOE VERA GEL MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the aloe vera gel market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from aloe vera gel market are anticipated to lucrative growth opportunities in the future with the rising demand for aloe vera gel in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the aloe vera gel market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Aloe Farms, Inc.
- Aloe Laboratories
- Aloe Vera Australia
- Aloecorp, Inc
- Herbalife International of America, Inc.
- Lily of the Desert
- NOW Health Group, Inc.
- Patanjali Ayurved Limited
- Real Aloe Solutions, Inc.
- Terry Laboratories