Aloe vera is a moist plant species, which is grown in tropical climatic conditions across the globe. In addition, it is used in medical, cosmetic, and food & beverages sectors. Aloe vera juice is prepared by crushing aloe vera leaves and subsequently purifying the liquid. Moreover, aloe vera juice has a mild, tolerable flavor, and the juice mixes easily into smoothies and shakes, thus making aloe vera drink as a food supplement. Aloe vera exhibits multiple health benefits such as enhanced hydration, improved liver function, nutritious boost, and digestive benefits. In addition, aloe vera-based drinks contain several vitamins, amino acid, and folic acid, which aid in strengthening the immune system. It is a gelatinous plant food, which helps to detoxify body cells.
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The market is witnessing significant growth, owing to rapid embracement of aloe vera extracts in the food & beverages industry based on high availability and increase in consumer preferences for aloe vera products over flavor essence products. Moreover, growth of aging population along with increasing skin ailments and raise in awareness of aloe vera juice contribute to the market growth. In addition, rise in demand for aloe vera products based on growing consumption of flavored drinks across the globe drives the market growth. Furthermore, increase in concerns towards vitamin deficiency and rise in adoption of functional drinks majorly in developing economies supplement the market growth. However, over consumption of aloe vera juice leads to liver dysfunctioning & allergic reactions, which restrains the market growth. Moreover, higher prices of aloe vera-based drinks is expected to hamper the market growth.
The report segments the market on the basis of flavor type, product, application, distribution channel, and geography. Based on flavor type, the market is bifurcated into flavored and non-flavored. By product, it is classified into ready-to-drink juice, crush, and pulp. The applications covered in the study include food & beverage products, cosmetics, and medicine. In terms of distribution channel, the market is categorized into hypermarkets/supermarkets, departmental stores, online retail, and medical stores. Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.
Some of the Key Players in the Global Market Include:
OKF Corporation, ALO Drink, Keumkang B&F Co., Ltd., Lotte Chilsung Beverage Co., Ltd., Tulip International Inc., Medicaps Ltd., Aloe Farms, Forever Living Products, Houssy Global, AMB Wellness
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