Aloe Vera Juice Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024

Global Aloe Vera Juice Market

Market Overview

Aloe Vera juices have gained popularity worldwide during the last few years. Aloe Vera has been a traditional remedy for burns and cuts for ages, and has regained traction in recent times. They key to its rising popularity is the increasing awareness about its various health benefits. Aloe Vera juices are rich in several nutrients like Calcium, Potassium, Manganese, Zinc, Vitamin A, B, C and E. Consumption of Aloe Vera juice improves digestion and the immunity system, and helps detoxify the body’s systems. It is also touted to help in weight loss. This makes these juices a good health supplement and alternative to other chemically processed beverages. Increasing consciousness of people across the globe towards health and fitness has made Aloe Vera juice a favorable option. This has driven its demand in recent years. Further, the medicinal properties of Aloe Vera make it useful for patients of diabetes, high cholesterol, cardiovascular and digestion problems. This further gives a boost to demand for Aloe Vera juice.

The Food and Beverages Industry is developing rapidly and hybrid drinks with aloe Vera juice are being sold. Such drinks are gaining wide favorability among consumers and further driving the Aloe Vera juice industry. Currently more than half of the global population (54%) resides in urban areas. The rising urban population further contributes to demand as urban population is more health conscious.

Market Segmentation                                                      

• By Flavors

• Flavored
• Non-flavored

• By Form

• Gel Extract
• Whole Leaf Extract

• By Application

• Food & Beverage
• Cosmetics
• Pharmaceuticals

• By Channel of Distribution

• Retail Stores
• Pharmacies and Drugstores
• Supermarkets
• Online Retail

• By Geography

• North America (US, Canada) {Market Share (%), Market Size (USD Billion)}
• Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion)}
• Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion)}
• Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion)}
• Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion)}
• Rest of the World {Market Share (%), Market Size (USD Billion)}

Market Size and Forecast (2016-2024)

The Aloe Vera Juice Market was valued at USD 0.84 billion in 2016. It is expected to grow at a CAGR of about 11% over the forecast period and reach a size of USD 2.15 billion by 2024. Aloe Vera juice has the highest demand among all other aloe vera products and is expected to grow rapidly. Flavored juices account for majority of the market share in terms of revenue. This can be attributed to their non-complex nature and wide availability.

Geographically, the market in the Asia Pacific region is expected to witness the highest CAGR during the forecast period. The rising geriatric population is concentrated in this region. Economic development has increased the urban population and personal disposable incomes. As per UN data, 55% of the global urban population in 2014 was residing in this region. By 2018, more than 50% of the region will become urban. India, China and Nigeria are expected to contribute 37% of the projected urban population growth. This will give rise to consumerism and expand the market for Aloe Vera juice in the region, with popularity among the health consciousness urban dwellers. Additionally, health issues like cholesterol and diabetes have also risen, further propelling the growth of aloe vera juice market in the region.

Key Drivers and Restraints

The demand for aloe vera juice is majorly driven by increasing inclination of consumers towards healthy beverages as alternatives to carbonated drinks and chemically synthesized fruit juices. High mineral content of these juices provide wide ranging health benefits and help tackle various problems like high cholesterol, diabetes, cardiovascular and digestion related problems, mineral deficiencies and skin ailments. Additionally, they help in detoxification, building the immunity system and weight management. Such factors increase the popularity of Aloe Vera juice among consumers and give a spur to demand.

Aloe Vera juices are easily available at drugstores and supermarkets in urban areas, and are also available online at considerably affordable prices. The easy availability and cost effectiveness also act as factors that bolster the market. Incidences of adulteration in the juices decrease consumer confidence and hamper demand. Consumers tend to incline towards premium brands. However, high cost of these premium brands further dampens the market. Governmental regulations regarding food and drug safety might further act as challenges for players.

Market Trends

Keeping in mind the rising health consciousness and importance given by consumers to the taste of the product, players are coming up with hybrid juices. These hybrid juices contain other fruit juices as well, apart from Aloe Vera, making them an excellent choice which is both healthy and tasty. Players are also adopting marketing strategies that involve advertising the health benefits of Aloe Vera juice extensively, in order to capture the health sentiment in the current market.

Key Players

• ALO
  • Synopsis
  • Business Strategy
  • Product Portfolio
  • SWOT Analysis
• Forever Living Products
• Aloe Farms
• OKF
• Houssy Global
• Dabur Ltd.
• The Himalaya Drug Company
• Aloe Veda Personal Care
• AloeVera India
• Khadi Natural
• Forest Essentials
• Nature's Essence Pvt. Ltd.
• Fabindia
• MSG All Trading International Pvt. Ltd.
• Bright Lifecare Pvt. Ltd.
• Rattan Organic Foods Pvt. Ltd.
• Nourish Vitals

Scope Background

Market Synopsis

Market Segmentation

The global aloe vera juice market is segmented as follows:

• By  Flavor (Market Size, Demand Analysis and Growth Analysis)
• By  Form (Market Size, Demand Analysis and Growth Analysis)
• By Application (Market Size, Demand Analysis and Growth Analysis)
• By Channel of Distribution (Market Size, Demand Analysis and Growth Analysis)

By Regions

• North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
• Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
• Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
• Asia-Pacific (China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
• Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
• Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

• Risk Factors
• Regional Variations
• Recent Trends and Developments

Key Market Players

• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks