Edible Aloe Vera Market Scope
Aloe Vera has applications in many industries owing to its therapeutic, remedial, and healing properties that offers high nutritional value. Aloe Vera is extensively used in treating burn injuries and digestive problems. In addition, edible Aloe Vera has vast antioxidant and antibacterial properties that aids in managing inflammation and dental plaque, blood sugar levels along with providing improved memory and antioxidant defences. Increasing number of diabetic patients using herbal extracts for disease treatment is a major impacting the factor for the rapid growth in the market.
|Unit||Value (USD Million)|
|Key Companies Profiled||Forever Living Products (United States), Aloecorp Inc. (United States), Terry Lab (United States), Herbalife International of America, Inc. (United States), Lily of the Desert (United States), Evergreen Healthfoods Ltd. (Ireland), Aloe Vera of Australia Pty Ltd (Australia), Ashland Inc. (United States), Edgewell Personal Care (United States) and Aloe Laboratories Inc. (United States)|
Leading manufacturers such as Terry Laboratories Inc., and Herbalife International Inc. are engaging in leveraging opportunities in the market in order to expand their operational capabilities. For instance, Herbalife Nutrition invested about USD 5 million to open a development facility to expand its product capabilities. These strategic moves give them a competitive edge to sustain their market position. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Edible Aloe Vera market throughout the predicted period.
Forever Living Products (United States), Aloecorp Inc. (United States), Terry Lab (United States), Herbalife International of America, Inc. (United States), Lily of the Desert (United States), Evergreen Healthfoods Ltd. (Ireland), Aloe Vera of Australia Pty Ltd (Australia), Ashland Inc. (United States), Edgewell Personal Care (United States) and Aloe Laboratories Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Fruit of the Earth (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Edible Aloe Vera market by Type , by Application (Cosmetics, Pharmaceuticals and Food and Beverages) and Region with country level break-up.
On the basis of geography, the market of Edible Aloe Vera has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2021.
Market Leaders and their expansionary development strategiesIn January 2021, Ashland Inc. signed a definitive agreement to acquire the personal care business from Schülke & Mayr GmbH. Under this agreement, the company will pay USD 262.5 million in cash. This acquisition further strengthens the company’s strategic position in its consumer business portfolio.
In February 2022, Herbalife Nutrition inaugurated a 154,967-square-foot Global Business Services Center in Bangalore, India. The center would comprise a contact center, creative services, a research and development facility, and a quality laboratory. The facility will leverage advanced technologies that support product development.
Influencing Trend:Increasing Customer Inclination towards Herbal Ingredients
Market Growth Drivers:Rising Utilization of Natural Products in the Management of Diabetes and High Degree of Customer Acceptability
Challenges:Risks Associated with Aloe Vera Owing to its Laxative Effect
Restraints:Low Degree of Security in Supplying Raw Materials
Opportunities:Improving Consumer Awareness about Health Benefits of Aloe Vera
Key Target AudienceAloe Vera Supplies and Distributors, Consumers, Government Agencies, Regulatory Bodies, Potential Investors, Research and Development Institutes and End User Industry