The aloe vera juice market has been segmented by product type into ready-to-drink juice, crush, pulp and by flavor type into flavored and non-flavored juice. The rising consumption of aloe vera juice is increasing with a significant pace owing to the preference of flavored drinks among the consumers via various distribution channels such as pharmaceutical shops, departmental shops, super market and online stores. The enormous production and usage of aloe vera in food, medicines and cosmetics is anticipated to expand the growth of the aloe vera juice market with a significant market valuation by the end of 2024.
The global market for aloe vera juice is expected to reach a significant market valuation by the end of 2024 by expanding at a promising compound annual growth rate (CAGR) over the period 2017-2024. Numerous health benefits are one of the main factors that are driving the demand for aloe vera juice among the consumers. Further, the rising number of health problems combined with increasing disposable income of consumers is anticipated to propel the growth of aloe vera juice market over the forecast period.
In the regional segment, Asia Pacific is anticipated to garner highest share in terms of revenue over the forecast period owing to rising awareness towards health benefits and significant consumption of the aloe vera extracts among people. Further, the aloe vera juice market of Europe is expected to be the second largest share contributor around the globe. This can be attributed to increasing health consciousness among the population and rising number of manufacturers for aloe vera juice products.
Health Benefits of Aloe Vera Reflects Significant Opportunities
The growth of aloe vera juice market is riding on the back of growing geriatric population coupled with rising health diseases such as digestion, cholesterol and diabetes. Further, the ease availability of aloe vera juice in various flavors at low cost is believed to supplement the growth of the aloe vera juice market in upcoming years.
However, the taste factor, lack of awareness regarding health benefits and different substitutes of aloe vera juices is likely to hinder the growth of the aloe vera juice market in the near future.
The report titled “Aloe Vera Juice Market: Global Demand Analysis & Opportunity Outlook 2024” delivers the detailed overview of the aloe vera juice market in terms of market segmentation by product type, flavor type, by distribution channel and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the aloe vera juice market which includes company profiling of OKF Corp., ALO Drink, Keumkang B&F Co. Ltd., Lotte Chilsung Beverage Co. Ltd., Tulip International Inc. and Medicaps Ltd.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the aloe vera juice market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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