Aloe Vera Derivatives Industry Growth Factors, Global Industry Overlook During Forecast To 2025
The global aloe vera derivatives market is expected to register a CAGR of 6.4% to reach USD 4,059.63 million by 2025. Aloe Vera Derivatives Market is a perennial succulent plant that is cultivated for its health and medicinal benefits. Aloe vera gel is a rich source of antioxidants, vitamins, amino acids, and minerals. Polyphenols are the major antioxidant and antibacterial compound present in aloe vera. The derivatives of the plant are in high demand in pharmaceuticals and nutraceuticals. Aloe vera and its derivatives are known for improving skin health, reducing the appearance of wrinkles, and helping control blood sugar levels.
The demand for aloe vera derivatives is also increasing due to the growth of the application industries. Rising health consciousness around the world has resulted in a shift in consumer preference toward plant-based beverages. The growing adoption of veganism has also led to an increase in the demand for plant-based beverages. Personal care is yet another prominent industry where aloe vera derivatives are widely used owing to rising awareness regarding the side effects of several chemical ingredients in cosmetics. Consumers are shifting toward natural products that are free from synthetic ingredients.
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The global aloe vera derivatives market has been segmented based on type, category, application, and region.
By type, the market has been divided into powder, gel, and others. The gel segment accounted for the largest market share in 2018. After removing pulp and fiber from the aloe vera leaf, the remaining material is heated, and necessary preservatives are added to produce gel, which is used in various industries. In personal care, it is applicable in shampoos and conditioners, skin cleansers, moisturizers, lotions, sun care products, and styling and sculpting gels. However, the powder segment is expected to be the fastest growing during the forecast period as aloe vera powder is an active ingredient in several cosmetic formulations.
Based on application, the global aloe vera derivatives market has been classified as food & beverages, pharmaceuticals and nutraceuticals, personal care, and others. The personal care segment accounted for the largest market share in 2018. The anti-microbial properties of aloe vera are ideal for treating blemishes, blackheads, whiteheads, scars, and acne, as well as soothing the skin and healing burns. It helps in the production of collagen, which ensures that the skin remains smooth and supple, leading to its use in their anti-aging formulations.
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Geographically, the global aloe vera derivatives market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, Europe dominated the market, accounting for the largest market share in 2018. The North American market accounted for the second-largest market share in 2018. However, the market in Asia-Pacific is expected to register the highest CAGR of 6.7% during the assessment period.
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