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How Will the Aloe Vera Extract Market Grow from 2024 to 2033?

In the past few years, the aloe vera extract market size has witnessed significant growth. Forecasts predict that the market’s growth will continue, as it is set to increase from $2.62 billion in 2023 to $2.85 billion in 2024, at a compound annual growth rate (CAGR) of 8.9%. The growth observed in the historic period occurred due to several factors including heightened consumer awareness about health benefits, an upswing in demand in the cosmetics and personal care industries, an increased interest in nutraceuticals and dietary supplements, and a widening reach in the food and beverage sector.

In the years to come, the aloe vera extract market is projected to witness significant expansion, increasing to a net worth of $4.03 billion in 2028, with a CAGR of 9.0%. Several factors, such as the ongoing popularity of natural skincare and beauty, upcoming discoveries regarding the medicinal benefits of aloe vera, growing inclusion in functional health drinks, the rising trend of incorporating it in natural and herbal healing methods, and worldwide ecological and sustainable product movements, are contributing to this growth. Other prominent trends in the forecast period include an emphasis on organic and sustainably obtained ingredients, improved aloe vera product innovations, increased aloe vera farm cultivation, worldwide market invasion, and heightened quality control and certification standards.

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What Aspects Are Influencing the Growth Rate of the aloe vera extract Market?

The aloe vera extract market is poised for growth, a trend that’s been spurred on by the rising need for organic and natural cosmetic products. Cosmetic items that use organic ingredients, derived from organic farming methods, and devoid of synthetic chemicals like pesticides, herbicides, or genetically modified organisms (GMOs), have seen their popularity surge. The critical element in creating these natural and organic cosmetics is aloe vera extract. To illustrate, a report from the Soil Association, a UK-based institution championing sustainable and organic agriculture and food production, shared in March 2022 that certified organic and natural health and beauty items in the UK saw a 15% rise in 2021, generating €164 million ($179.35 million). In 2021, the COSMOS (Cosmetic Organic and Natural Standard), an international benchmark for organic and natural cosmetics, also certified approximately 50,000 products and ingredients. Moreover, the sales of products certified by COSMOS saw a 32% increase in 2021 compared to the previous year. Hence, this surge in demand for organic and natural cosmetics is fuelling the aloe vera extract market’s expansion.

What Are the Critical Segments of the Aloe Vera Extract Market?

1) By Product Form: Liquid, Gel, Powder, Other Product Forms

2) By Distribution Channel: Offline, Online

3) By Application: Functional Food, Cosmetics, Pharmaceuticals, Beverages, Other Application Types

What Trends Are Redefining Consumer Expectations in the Aloe Vera Extract Market?

Emerging popularity in the aloe vera extract market is marked by a trend towards securing product approvals. As a key trend, leading firms in the aloe vera extract market are creating novel products and obtaining necessary permits aimed at consolidating their market presence. For example, Desert Harvest, a US company specializing in the formulation and distribution of pharmaceutical and nutritional products derived from aloe vera extract, gained approval from the U.S. Food and Drug Administration (FDA) in September 2021. This permit was for their highly concentrated Aloe Vera Capsules, intended for treating interstitial cystitis, or IC, a serious and persistent bladder condition affecting around 12 million individuals of both genders. Helping alleviate symptoms such as bladder discomfort, frequent urination, urgency, and inflammation, this product from Desert Harvest is the first-ever FDA-endorsed IC treatment option superseding pentosan polysulfate sodium (Elmiron) and the inaugural prescription IC drug not manufactured by a pharmaceutical company. Additionally, these highly potent aloe vera capsules utilize 100% organically grown aloe vera and supply 600 mg of aloe vera per capsule.

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What Are the Leading Regions in the Aloe Vera Extract Market Expansion?

Asia-Pacific was the largest region in the aloe vera extract market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the aloe vera extract market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Aloe Vera Extract Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the aloe vera extract market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Aloe Vera Extract Market Include

1. Aloe Vera Extract Market Executive Summary

2. Aloe Vera Extract Market Segments

3. Aloe Vera Extract Market Size And Template Market Growth Rate

4. Key Aloe Vera Extract Market Trends

5. Major Aloe Vera Extract Market Drivers

……

25. Key Mergers And Acquisitions In The Aloe Vera Extract Market

26. Top Aloe Vera Extract Companies

27. Aloe Vera Extract Market Opportunities And Strategies

28. Aloe Vera Extract Market, Conclusions And Recommendations

29. Appendix

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