According to a new report, published by KBV research, The Global Aloe Vera Extract Market size is expected to reach $4.2 billion by 2030, rising at a market growth of 8.0% CAGR during the forecast period.
The Pharmaceuticals segment is showcasing a CAGR of 8.2% during (2023 - 2030). The demand for items in the sector is being driven by an increase in the usage of herbal remedies to treat different illnesses, including diabetes. Moreover, since aloe Vera juice is often used for weight reduction, immune boosting, and digestion improvement, growing awareness of healthy living practices is anticipated to raise product demand in the pharmaceutical industry.
The Offline segment is generating the highest revenue share in the Global Aloe Vera Extract Market by Distribution Channel in 2022 thereby, achieving a market value of $3.1 billion by 2030. Due to the vast selection of distinctive alternatives for extract products and the simplicity of accessibility for customers to purchase the product, offline modes such as convenience shops, hypermarkets/supermarkets, and specialty stores are enjoying a significant share.
The Gels segment has shown the growth rate of 8.3% during (2023 - 2030). The use of herbal extracts has risen as people become more aware of skin health issues. This may aid in the growth of the market. Aloe Vera gel may also be used to treat burns or sunburns, which is projected to increase the demand for gel products. Moreover, the category is projected to rise in the next years because of the rising demand for products devoid of ammonia, sulfur, and parabens.
The Europe market dominated the Global Aloe Vera Extract Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.4 billion by 2030. The North America market is exhibiting a CAGR of 7.6% during (2023 - 2030). Additionally, The Asia Pacific market would showcase a CAGR of 8.5% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/aloe-vera-extract-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Aloecorp Inc., Terry Laboratories Inc., F. Hoffmann-La Roche Ltd., Aloe Farms, Inc., Ashland, Inc. (Pharmachem Laboratories Inc.), Lily of the Desert, Aloe Laboratories, Inc., Foodchem International Corporation, Natural Aloe Costa Rica and Calmino Group AB.
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