Aloe Vera Drink Market Size, Competitive Landscape and Market Forecast - 2030
Aloe Vera Drink Market is segmented By Type (Flavored, Non-Flavored), By Distribution Channel (Online, Offline (Hypermarket, Supermarket, Others)), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Aloe Vera Drink Market Overview
The Global "Aloe Vera Drink Market" is predicted to reach at a high CAGR of 6.9% during the forecast period (2023-2030).
Fruit juices and beverages are processed liquids that meet the daily dietary requirements. It provides nutritional value to the diet. Aloe vera (Aloe barbadensis Miller) is a Liliaceae family perennial plant with turgid green leaves united in a rosette arrangement at the stem. Aloe vera beverages are extremely beneficial to both health and skin. The global aloe vera drink market valued USD XX million in 2020 and is estimated to reach USD XX million by 2028, growing at a CAGR of XX%
Aloe Vera Drink Market Dynamics
Aloe vera beverages provide several health advantages such as alkalinity, hydration, liver function, nutritional boost, and digestive benefits, which are primarily driving the growth of the Aloe Vera market. Aloe vera-based beverages contain a variety of vitamins, amino acids, folic acid, and other nutrients that aid in the strengthening of the body's immune system. It has an alkalizing impact on the body, which aids in the removal of acidifying meals.
Another significant driver is that it aids with weight reduction and energy control. As a result, it aids in maintaining healthy body weight and boosts energy levels. Furthermore, aloe vera-based beverages aid in the maintenance of healthy skin by soothing minor skin irritation, scrapes, wounds, and burns.
The high cost of aloe vera drinks, as well as excessive intake of aloe vera juice, causes liver dysfunction and hypersensitivity, which would serve as a restriction on market expansion over the projection period.
COVID-19 Impact on Aloe Vera Drink Market
The global demand for plant-based immune-boosting food and drinks has increased as a result of the COVID-19 pandemic. These aloe-based beverages are high in micronutrients, which aid in the battle against free radical damage in the body and hence enhance immunity. These worldwide developments present fresh chances for the product's expansion.
Aloe Vera Drink Market Segmentation
By Type, the global Aloe Vera Drink Market is segmented into Flavored and Non-flavoured. Unflavored aloe vera drinks overtook flavored aloe vera drinks as the leading product segment in 2019 with a share of more than 60.0% and are anticipated to retain their dominance during the forecast period. These beverages are commonly eaten for medical purposes since they aid in liver detoxification and have several digestive advantages. Furthermore, unflavored beverages are commonly taken as nutritious drinks that provide the body with water, minerals and assist to build immunity.
By distribution channel, the global Aloe Vera Drink is segmented into offline distribution channels and online distribution channels. In 2018, offline distribution accounted for more than 93% market share in the global Aloe Vera Market. Major manufacturers promote their products through traditional retail outlets such as hypermarkets and supermarkets. Furthermore, some firms are expanding their client base by building new brick-and-mortar locations across the world. According to a news release from Target Brands, Inc., the business plans to open around 25 additional shops in the United States by the end of 2020.
Aloe Vera Drink Market Geographical Penetration
By geography, the global Aloe Vera Drink Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
In 2019, Asia Pacific was the largest geographic market for aloe vera beverages, accounting for more than 30.0% of the total. Aloe-based juice or drink is a traditional drink that is extensively eaten in many countries, including India, South Korea, and Japan, because of its numerous health advantages, including improved liver functioning, nutritional boost, increased hydration, and digestive benefits. However, Europe trails APAC in terms of Aloe Vera Drink market share, owing to increased demand for healthy beverages as a result of people's increased knowledge of the benefits of healthy food and drink, as well as the simple availability of Aloe Vera drinks in local hypermarkets/supermarkets. The hypermarket/supermarket culture is becoming more prominent in Europe, which will drive the expansion of the Aloe Vera Market over the projected period.
Aloe Vera Drink Companies & Competitive Landscape:
Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Aloe Vera Drink is a competitive market with the presence of various global and regional players in the market. The major players include ALO, Aloe Farms, Forever Living Products, Houssy Global, and AMB Wellness. Other key players in the market include Cady Products LLC, OKF, Lotte Chilsung Beverage Co., Ltd., AMB Wellness, and PATANJALI AYURVED LIMITED.
- In April 2018, Aloe Vera drinks brand Simplee Aloe has responded to the introduction of the UK’s sugar tax by launching two new low-sugar aloe vera glasses of water in the UK. Simplee Aloe claims the new products are the first aloe vera waters available in the country which do not use artificial ingredients, and the low-sugar drinks contain less than 2.5g of sugar per 100ml.
- In January 2018, Baidyanath Ayurved has introduced a range of four natural juices - amla, aloe vera, karela and Jamun and giloy - in a bid to keep up with the increasing shift towards natural, organic and Ayurvedic products and cater to young consumers’ growing preference for fast-moving consumer goods (FMCG) that offer health benefits. These juices are both preventive and curative for health and will be available across retail outlets.
- Patanjali Ayurved Ltd reported an increase in profit by 22% to Rs 425 Crore. The company had reported a profit of Rs349.37 Crore in FY 2018-19.
AMB Wellness:
Overview:
Founded in 1999, AMB WELLNESS has been a pioneer in the development of Aloe Vera with new processes and customer education AMB provides customers raw material free from additives, impurities, and any other agent, proving, as a result, a high quality, stable and standardized Aloe Vera.
Product Portfolio:
- Innovaloe Aloe vera Gel Juice 1:1
- ALOE ACETYPOL ™
- Innovaloe Aloe Vera Gel Concentrate
- Innovaloe Aloe Vera Spray Dried Powder 200:1
Key Developments:
- AMB Wellness has an approximately 350 research papers in total.