ALOE VERA EXTRACTS MARKET ANALYSIS

Regional Analysis

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East &Africa

Global Aloe Vera Extracts Market: Regional Analysis

Europe dominated the global aloe vera extracts market in 2022, accounting for a 35.3% share in terms of value followed by Asia Pacific and North America. Consumer interest in nutritional health and supplement products is rising in European nations like Germany, the U.K., and France. To ward off illness and enhance their health and wellness, more consumers are turning to natural and organic goods and medical procedures. Additionally, organic and natural ingredients are sought after by health and wellness companies as they enhance and broaden their product portfolios. Aloe vera extract-based health products are well-known and well-proven among European consumers.

Asia Pacific is anticipated to experience the highest CAGR over the forecast period, followed by Europe, owing to expanding application industries in developing nations like China and India. In terms of imports and exports, major markets include China and India. Aloe vera is widely used in traditional Chinese medicine, and Chinese consumer believes that it is a Chinese plant. The nation has a robust ability to produce aloe vera extracts at home. Nevertheless, there may be price competition if there is no product differentiation.  All factors are therefore expected to promote regional market growth over the course of the forecast period.

Figure 2. Global Aloe Vera Extracts Market Share, By Region, 2022