Aloe Vera Extract Market is Goaded by Suppressing Proliferation of Cancer and Synergistically Leaping in Cosmetic Industry Via Patanjali Ayurved Ltd.
Aloe vera is one of the most prominent consumer product entities and it’s quite evident in the prevalent usage of aloe vera lotion and aloe vera shampoo. Furthermore, aloe vera spray and aloe vera oil are also household names. Nowadays, aloe vera extract market is leaping up in the health care industry for medicinal purposes. In recent years, phytomedicine has spread worldwide and has gained considerable ground as drug resources with an affinity toward medicinal plants and metabolites. The topical use of aloe vera gel in the application industry has been emphasized owing to the demonstrated wound-healing effects of the product. It is widely used for the prevention of metabolic diseases, skin diseases, cardiovascular diseases, and cancers. By the end of 2019, more than 1.7 million new cancer cases are anticipated to be diagnosed globally. Rising cancer cases has leveraged the trending use of plant-based extracts in the healthcare industry.
Aloe vera extracts are popular as a plant-based anticancer agent; used during radiotherapy as it helps heal and soothe burns caused at the time of treatment. Concurrently, researchers found that the therapeutic effect of aloe vera leaf extracts could treat acute respiratory influenza infection. As a result, Aloe polysaccharides (APS) extracted from Aloe vera leaves were observed creating noticeable effects on influenza therapy. In the recent, in vitro tests performed by the researchers, reveals that APS can inhibit influenza replication. The growing trend of plant-based products in healthcare and other application industries created a global aloe vera market size of $1.7 billion in 2018. Moreover, the market is poised to increment at a growing CAGR of 6.7% during the forecast period 2019-2025.
Patanjali Ayurved Changed the Game in India with Aloe Vera Extract in 2016
The use of aloe vera extract in the APAC region is prodigious with the growing trend of plant-based products. Owing to this, APAC held the largest revenue share in the global aloe vera extract market of 32.5% in 2018. This is attributed to the major use of the aloe vera extract products in a developing country such as India after “Patanjali Ayurved Limited” was re-launched. The customer base grew massively with its major products such as Patanjali Aloe Vera Juice, Patanjali Multani Mitti Face Pack, Patanjali Aloe Vera Apricot Face Scrub, Patanjali Aloe Vera Lotion, Patanjali Sunscreen, Patanjali Coconut and Aloe Vera Shampoo and Patanjali Sheetal Aloe Vera Oil. In 2017, the company experienced an annual revenue growth of $1.5 billion from $500 million in 2016. Furthermore, in 2016, Patanjali had already constructed its customer base by spreading awareness among consumers about herbal products manufactured by them through advert-marketing strategies and witnessed a growth rate of more than 150%.
These products created a disruption in the cosmetic industry, and aloe vera extract market size will significantly grow at a CAGR of 5.3% through to 2025. With the emergence of many products by Patanjali containing aloe vera and other herbal and organic grown ingredients made the competitor companies such as Hindustan Unilever Limited (HUL) have been improvising their product portfolio and introducing various herbal items- Lux soap as Lux Botanicals infused with honey, aloe vera extract, and other natural ingredients. Thus, the aloe vera extract market in India has been experiencing significant growth and is creating huge opportunities for the aloe vera extracts market players.
Major Multinationals Companies in Market
Some of the key companies in the aloe vera extract market are Aloecorp, Inc., Aloe Farms, Inc., Aloe Laboratories, Inc., Lily of the Desert Organic Terry Laboratories, Inc., Foodchem International Corporation, Aloeceuticals, Natural Aloe Costa Rica S.A, and Pharmachem Laboratories, Inc.
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Plant Extract Market
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