3d Printing Materials Is Fastest Growing Segment Fueling The Growth Of Aloe Vera Extracts Market

 

The global Aloe Vera Extracts Market is estimated to be valued at US$ 2.81 Bn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Aloe vera extracts are known for their several health benefits such as hydrating and healing properties. It contains vitamins, enzymes, minerals, sugars, lignin, saponins, amino acids and salicylic acids which are known to have anti-inflammatory, antibacterial, antiviral, and antioxidant properties. These properties make aloe vera extracts useful in several applications in industries such as pharmaceuticals, cosmetics and food & beverages.

Market key trends:
One of the emerging trends in aloe vera extracts market is the increasing use of aloe vera extracts in cosmetic industry. Aloe vera extracts possess excellent moisturizing and hydrating properties which makes it a suitable ingredient for use in several cosmetic products such as creams, lotions, gels and serums. According to statistics, aloe consumption will increase by 30% between 2023-2030 driven by its use in functional cosmetic products targeting skin hydration and healing. This increased demand from cosmetic industry is expected to drive the growth of global aloe vera extracts market during the forecast period.

Segment Analysis
The global aloe vera extracts market is segmented by form, application, and geography. By form, the aloe vera extracts powder segment dominated the market in 2022, accounting for more than 45% share of the global market. Aloe vera extracts powder has wide applications in dietary supplements, food and beverages, and pharmaceutical applications, owing to its stability, ease of handling, and storage.

Key Takeaways
The global aloe vera extracts market is expected to witness high growth, exhibiting CAGR of 9.3% over the forecast period, due to increasing demand from the food and beverage industry.

North America dominated the aloe vera extracts market in 2022, accounting for around 35% of the global market share. The increasing health-conscious population and rising demand for natural ingredients in functional foods and beverages are driving the market growth in the region. Asia Pacific is expected to witness the fastest growth over the forecast period owing to rising population, increasing disposable incomes, and growing health awareness in emerging economies of the region.

Key players operating in the aloe vera extracts market are Lily of the Desert Organic Aloeceuticals, Aloe Farms Inc., Terry Laboratories Inc., Foodchem International Cooperation, Natural Aloe Costa Rica S.A., Pharmachem Laboratories Inc., Aloecorp Inc., and Aloe Laboratories Inc. Lily of the Desert Organic Aloeceuticals is one of the leading players in the market, offering a wide range of aloe vera gels and extracts.

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