The latest market report published by Credence Research, Inc. “Aloe vera Extracts Market, By Form, End Use and Region – Growth, Future Prospects, and Competitive Analysis, 2016 – 2023,” the Aloe vera Extracts market was valued at US$ 1,540.6 Mn in 2015, and is expected to reach US$ 2,661.8 Mn by 2023, expanding at a CAGR of 7.2% from 2016 to 2023.
Aloe vera is a widespread medicinal plant that has been utilized for the past thousands of years. This plant grows in tropical climatic conditions in different countries across the globe and is cultivated for various utilization such as for cosmetics, pharmaceuticals and food. The aloe vera extracts find extensive application in various industries. The extracts are utilized to frame aloe vera based products which is available in the form of powders, gels, capsules, drinks, and in other ways.
Browse the full Aloe vera Extracts Market by Form, End Use and Geography – Growth, Future Prospects, and Competitive Analysis, 2016 – 2023 report at http://www.credenceresearch.com/report/aloe-vera-extracts-market
The aloe vera is highly suitable for treating various skin related injuries and also has different other benefits related to health. The aloe vera is also helpful in treating cardiovascular diseases, fat reduction, and many more. This has intensified the demand for aloe vera extracts for the past few years. The antioxidant and antibacterial properties of aloe vera is anticipated to create more demand for aloe vera extracts over the next few years. Apart from this, change in lifestyle along with rise in urbanization and increase in health consciousness has strengthened the demand for aloe vera extracts and is expected to bolster the market growth over the period 2016-2023.
Escalating utilization of aloe vera extracts as a core ingredient in pharmaceutical, cosmetic and food industry is anticipated to intensify the growth of aloe vera extracts market over the forecast period. Besides this, rising trend of consumers towards sound lifestyle along with rising usage of aloe vera as a sugar drinks is expected to intensify the growth of aloe vera extracts market between 2016 and 2023. Apart from this, rising burgeoning middle class population coupled with escalating personal disposable income is expected to foster the growth of aloe vera extracts market in Asia Pacific region over the forecast period.
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Considering the competition, this market is characterized by presence of various players some of which are small-scale players and some are the largest in number. In order to enhance their presence in the overall global market, the companies are focusing on research and development as well as new product development. The companies are entering into research and development in order to expand their product portfolio which will help in maintaining their dominance in the global aloe vera extracts market.
- New product development
- Development of new aloe vera species
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