Aloe Vera Extracts Market, By Product Type (Aloe Vera Gel Extract, Aloe Vera Whole Leaf Extract, Others), By Form (Gel, Drinks, Powders, Capsules, and Concentrates), By End Use Industry (Food, Cosmetics, and Pharmaceuticals), and By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa)

Published In : Apr 2023

Code : CMI3169

Pages :120

Formats :

Excel and PDF

Industry : Consumer Goods

Market Challenges And Opportunities

Restraints & Challenges:

High initial cost and low return on investment

Global Aloe Vera Extracts Market: Growth Drivers

Growing demand for aloe vera extract in pharmaceutical and food industry

Rising demand for aloe vera extract from the pharmaceutical and food industry for producing aloe vera-based products is expected to foster market growth over the forecast timeframe. The pharmaceutical industry can benefit greatly from aloe vera extract. It is used to treat a variety of illnesses, such as diabetes, skin conditions, and hair problems, and is renowned for its medicinal properties. The plant is a useful component in pharmaceutical products because it has beneficial plant compounds with anti-inflammatory and antioxidant properties. Shampoos, creams, lotions, and other personal care items all contain aloe vera extract. The extract is utilized in the pharmaceutical sector to create beverages, skincare, and dietary supplements. In 2021, Desert Harvest, a producer of nutritional supplements with a high concentration of aloe vera, obtained approval from (FDA) Food and Drug Administration to utilize their superior Medicine, aloe vera capsules for treating Interstitial Cystitis (IC), which is a chronic

Bladder health conditions nearly impacting 12 million people.

Global Aloe Vera Extracts Market: Market Restraints

Rising high initial cost and low return

High initial cost and low return on investment due to the cultivation of aloe vera plant on small lands are projected to curb the market growth of the aloe vera extract over the forecast period. Moreover, limited access to technical assistance for developing and managing aloe plantations successfully as a commercial business is also expected to curb market growth over the forecast period. Furthermore, price fluctuations in the case of aloe vera extract-based products across different regions is another major factor that is expected to restrain the overall market growth of aloe vera extracts.

The unpleasant taste of aloe vera extract has limited its application in the food and beverage industry though it has various health benefits. This factor has led to the increasing usage of aloe vera extract-only dietary supplements. Hence, this is projected to limit market growth over the forecast timeframe. Also, the complex processing method of aloe vera extract products is another major factor that is projected to hinder the market growth.