A recently published report by IMARC Group titled “Aloe Vera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global Aloe Vera market has grown at CAGR of around 11% during 2010-2017, reaching a value of US$ 507.2 Million in 2017. Aloe Vera belongs to the liliacea family and has thick green leaves which contain latex and gel. The gel, which is a colourless and transparent liquid, consists mainly of water. The rest contains several amino acids, enzymes, vitamins, hormones, minerals and sugars; most of which are found in the human body. The demand of Aloe Vera in the consumer market is driven by its healing and restorative properties, due to which it finds applications in several industries. Apart from this, the other factors contributing to the market growth include scientific research on the health benefits of Aloe Vera based products, rising disposable incomes, supplier innovations, etc. According to the report, the market is further expected to reach a values of US$ 831 Million by 2023.
Owing to its therapeutic properties, Aloe Vera is used in a variety of industries such as pharmaceuticals, cosmetics and food & beverages. In the healthcare industry, Aloe Vera is used in various products such as tonics, tablets, capsules, salves and supplements. It helps in treating wounds and various skin ailments. It has also been proven effective in treating psoriasis, lowing LDL and sugar levels and increasing HDL. In the cosmetic industry, Aloe Vera finds several applications in organic and herbal products. Some of the products where Aloe Vera is used as an essential ingredient include hair masks, hair tonics, eyeliners, sun blocks, shampoos, conditioners, etc. Additionally, as a result of increasing health consciousness among the consumers, manufacturers in the food & beverage industry are introducing products containing Aloe Vera such as tea, juices, instant drink powders, flavoured drinks, etc.
The report has conducted a thorough evaluation of the market on the basis of regions. Some of the key regions included in the report are Thailand, Dominican Republic, United States, Mexico and Costa Rica. Amongst these, Thailand represents the largest producer of Aloe Vera accounting for more than a third of the total global production. Asia, on the other hand, represents the largest consumer of Aloe Vera accounting for the majority of the total global consumption. The report has also analysed the competitive landscape of the market. Some of the key players covered in the report are Herbalife International, Aloecorp, Aloe laboratories, Forever Living Products, etc.
The study, done by one of the leading research and advisory firms, covers all the requisite aspects of the global Aloe Vera market. This ranges from a comprehensive view of the market to minute details of the industry performance, processing & manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. It also offers SWOT, Value Chain and Porter’s Five Forces analysis and regional segmentation followed by an analysis of the competitive landscape. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the Aloe Vera market in any manner.
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