Aloe Vera Ingredients: Market outlook
The amalgamation of self-care trend and health benefiting properties associated with aloe vera is resulting in the increasing market demand for aloe vera ingredients over the forecast period. Aloe vera is a perennial succulent plant species of the Aloe genus which is well known for its skin rejuvenating and health benefiting properties. Aloe vera ingredients are products derived after the processing of aloe vera. The commercially available aloe vera ingredients include aloe vera powders, gels, liquid, and capsules which find application in a wide range of end-user applications. Aloe vera ingredients are widely used in beauty and personal care products attributed to the skin revitalizing and soothing traits of products. Aloe vera ingredients especially aloe vera gels and powders are used in the cosmetic formulation including creams, body balms, lotions, lip balms, hair balms, bath bombs, and soaps to soothe, condition, and nourish the skin. Besides, aloe vera ingredients are also being used in the food industry in various soft drinks, energy drinks, juices, and other health drinks. Aloe vera is used to increase the energy level of the body, boost immunity, and help in detoxification of the body and thus is widely introduced in the market under the umbrella of “healthy food category.” Nowadays, aloe vera ingredients, including capsules and tablets, are commonly used in dietary supplements and nutraceuticals to promote the overall health of the body, boost digestive functioning, and self-healing properties of the body. The increasing utility of aloe vera ingredients in different end-user applications is expected to drive the growth for aloe vera ingredients over the forecast years.
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Increasing Health and Wellness Consciousness Coupled with the Health Benefiting Properties of Aloe Vera is Pushing- Up the Market Demand for Aloe Vera Ingredients
Aloe vera ingredients are anticipated to mark a remarkable growth over the years to come. The growing demand for natural and health benefiting ingredients in the cosmetic and personal care industry is expected to be one of the primary factors driving the growth for aloe vera ingredients. The consumers increasingly prefer natural ingredients in their beauty regimes, as naturally derived ingredients have negligible adverse effects and have more nourishing quality. The increasing consumer demand for natural products, premium skincare products, and increasing purchasing power are expected to provide an opportunity for aloe vera ingredients in beauty and cosmetic industry. Besides, the growing consumers’ health and wellness consciousness are making them opt for preventive healthcare more seriously than ever. The increasing preventive healthcare and growing demand for dietary supplements are again driving the market for aloe vera ingredients. Besides, increasing demographics of baby boomers is reshaping the present and future of the nutraceutical industry as these consumers account for a significant share in terms of revenue from sales of products in the nutraceutical. The growing demographic of baby boomers is thus creating a strong market demand for aloe vera ingredients in nutraceuticals over the forecast period. Furthermore, aloe vera ingredients are expected to leverage market opportunity over the forecast years owing to increasing online retail penetration. Online retailing has made possible for consumers across the globe to have access of a variety of aloe vera ingredients and their end products over a single platform; this is boosting the sales of aloe vera ingredients providing more excellent market prospects for these products.
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Global Aloe Vera Ingredients: Market Segmentation
On the basis of nature, global aloe vera ingredients can be segmented as:-
On the basis of product type, global aloe vera ingredients can be segmented as:-
- Aloe Vera Powder
- Aloe Vera Liquid
- Aloe Vera Gel
- Aloe Vera Capsule/ Tablet
On the basis of end use, global aloe vera ingredients can be segmented as:-
- Food Industry
- Cosmetic and Personal Care
- Skin Care
- Hair Care
- Sun Care
- Body Care
- Dietary Supplements & Pharmaceuticals
On the basis of sales channel, global aloe vera ingredients can be segmented as:-
- Store-based Retailing
- Convenience Stores
- Specialty Stores
- Health and Drug Stores
- Online Retailing
- Store-based Retailing
Global Aloe Vera Ingredients: Key Players
Some the key players operating their business in the global aloe vera ingredients market are Aloe Farms, Inc.; Aloeceuticals; Lily of the Desert Organic Terry Laboratories, Inc.; Pharmachem Laboratories, Inc.; Foodchem International Corporation; Natural Aloe Costa Rica S.A.; Aloe Laboratories, Inc.; and Aloecorp, Inc. among other market players.
Opportunities for Aloe Vera Ingredients Market Participants:
North America and Europe are expected to witness a growing market demand for aloe vera ingredients over the years owing to increasing demand for natural cosmetic and skincare products and growing sales for dietary supplements. Besides, aloe vera is being increasingly used in beverage industry under the health drink category, which is again providing growth opportunity for aloe vera ingredients in these regions. However, the Asia Pacific region is expected to register maximum growth opportunity for aloe vera ingredients owing to rising per capita disposable income of the consumers, growing online retail penetration, and increasing self-care trend among the consumers. The manufacturers for aloe vera ingredients and end products are expected to strengthen their research and development activities and to introduce more products in the consumer-driven market to have rapid product acceptance and penetration.
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