About Aloe Vera Juice
The global Aloe Vera Juice market is expected to grow in the forecasted period due to increasing demand in the healthcare industry. Aloe vera is a moist plant species, which is grown in tropical climatic conditions across the globe. In addition, it is used in medical, cosmetic, and food & beverage sectors. Aloe vera juice is prepared by crushing aloe vera leaves and subsequently purifying the liquid. Moreover, aloe vera juice has a mild, tolerable flavor, and the juice mixes easily into smoothies and shakes, thus making aloe vera drink as a food supplement. Aloe vera exhibits multiple health benefits such as enhanced hydration, improved liver function, nutritious boost, and digestive benefits.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
The aloe vera juice market has a highly competitive landscape in the present time. The competition in the market is projected to get even intense since there are a number of players that control the dynamics of the market. Additionally, entry of new players in the market of aloe vera juice based on the lucrative opportunity such as easy manufacturing and heavy profit is estimated to further intensify the competition during the projected period. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Aloe Vera Juice market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
OKF Corporation (South Korea), ALO Drink (United States), Keumkang B&F Co., Ltd. (South Korea), Lotte Chilsung Beverage Co., Ltd. (South Korea), Tulip International Inc. (South Korea), Medicaps Ltd. (India), Aloe Farms (United States) and Forever Living Products (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Houssy Global (United States) and AMB Wellness (United States).
Segmentation Overview
AMA Research has segmented the market of Global Aloe Vera Juice market by Type (Flavored and Non-flavored), Application (Food & Beverage Products, Cosmetics and Medicine) and Region.
On the basis of geography, the market of Aloe Vera Juice 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). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Distribution Channel, the sub-segment i.e. Hypermarkets/Supermarkets will boost the Aloe Vera Juice market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product, the sub-segment i.e. Ready-to-drink Juice will boost the Aloe Vera Juice market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The rapid embracement of aloe vera extracts in the food & beverages industry based on high availability and increase in consumer preferences for aloe vera products over flavor essence products
Market Growth Drivers:
The Growing Awareness of the Health and Fitness among Young Generation and The growth of the aging population along with increasing skin ailments
Challenges:
The concern of higher prices of aloe vera-based drinks
Restraints:
The increasing concern related to overconsumption of aloe vera juice leads to liver dysfunction & allergic reactions
Opportunities:
The rise in demand for aloe vera products based on growing consumption of flavored drinks across the globe and The increase in concerns towards vitamin deficiency and rise in adoption of functional drinks majorly in developing economies supplement the market growth
Market Leaders and their expansionary development strategies
In September 2023, Homegrown FMCG major Emami Ltd., announced entering the health juice category, with the acquisition of a 26% stake in Axiom Ayurveda Pvt Ltd., which markets a range of beverages under the brand name AloFrut.
In September 2023, Kelly Loves, has launched a new pineapple flavoured aloe vera drink product. Kelly Loves, created by Korean food entrepreneur, Kelly Choi, founder of KellyDeli and Sushi Daily, has expanded its drinks range, making it the 8th product available in this category.
Key Target Audience
Aloe Vera Juice Providers, Government Regulatory Bodies, Government Research Organisation, Private Research Organisation and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.