Global Aloe Vera Derivatives Market is expected to register a CAGR of 6.4% to reach USD 4,059.63 Million by 2025.
Aloe vera is a perennial succulent plant that is cultivated for its health and medicinal benefits. Aloe vera gel is a rich source of antioxidants, vitamins, amino acids, and minerals. Polyphenols are the major antioxidant and antibacterial compound present in aloe vera. The derivatives of the plant are in high demand in pharmaceuticals and nutraceuticals. Aloe vera and its derivatives are known for improving skin health, reducing the appearance of wrinkles, and helping control blood sugar levels.
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Market Research Future recognizes Terry Laboratories L.L.C. (US), Aloe Vera Australia (Australia), Houssy Drinks Co., Ltd (US), Stockton Aloe 1 (US), Aloe Laboratories (US), Omica Organics (US), Gift Morocco (Morocco), Shaanxi Bolin Biotechnology Co., Ltd (China), Biogenic Foods (US), and OKYALO (US) as the key players in the Global Aloe Vera Derivatives Market.
Global Aloe Vera Derivatives Market has been segmented on the basis of type, category, application, and region.
On the basis of category, the global aloe vera derivatives market has been segmented into organic and conventional. The conventional segment accounted for the larger market share in 2020 owing to the widespread adoption of conventional farming practices. However, the organic segment is projected to grow at a higher rate due to changing consumer preferences toward organic personal care and food & beverage products.
Based on application, the global aloe vera derivatives market has been classified as food & beverages, pharmaceuticals and nutraceuticals, personal care, and others. The personal care segment accounted for the largest market share in 2020. The anti-microbial properties of aloe vera are ideal for treating blemishes, blackheads, whiteheads, scars, and acne, as well as soothing the skin and healing burns. It helps in the production of collagen, which ensures that the skin remains smooth and supple, leading to its use in their anti-aging formulations. Owing to these medicinal properties, aloe vera derivatives are used in pharmaceuticals and nutraceuticals, with the segment expected to register the highest CAGR during the forecast period.
Geographically, the global aloe vera derivatives market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, Europe dominated the market, accounting for the largest market share in 2020. The North American market accounted for the second-largest market share in 2020. However, the market in Asia-Pacific is expected to register the highest CAGR of 6.7% during the assessment period.
Key Findings of the Study
The gel segment is estimated to maintain its prominent share, registering a substantial growth rate of 6.3% during the forecast period.
On the basis of application, the personal care segment is expected to hold the largest market share during the forecast period and is projected to register a growth rate of 6.3%.
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