Aloe Vera-based Drinks Market - Forecast(2023 - 2028)

Aloe Vera-based Drinks Market Overview

The Aloe Vera-based Drinks Global Market size is estimated to reach $183.6 million by 2027. Furthermore, it is poised to grow at a CAGR of 9.5% over the forecast period of 2022-2027. The growing awareness of vitamin deficiency is fueling the growth of Aloe Vera-based drinks, as the plant extract is thought to contain over 200 biologically active components, such as essential vitamins and minerals, natural sugars and agents, amino acids, and enzymes that boost the immune system and promote healing. Aloe Vera contains 75 potentially active constituents, including vitamins, enzymes, minerals, carbohydrates, lignin, saponins, salicylic acids, and amino acids. It contains antioxidants such as vitamins A-beta-carotene, Vitamin C, and Vitamin E. Vitamin B12, folic acid, and choline. Anthraquinones are found in the latex, which is the outer pulp of Aloe leaves. Aloin is an anthraquinone found in the plant's latex that may have laxative properties. The market for Aloe Vera-based drinks has been continuously developing over the last several years, owing to the increased use of Aloe Vera for multiple purposes in the health care, food, and cosmetic industries.

Aloe Vera-based Drinks Market Report Coverage

The report: “Aloe Vera-based Drinks Global Market Forecast (2022-2027)" by Industry ARC covers an in-depth analysis of the following segments of the Aloe Vera-based Drinks Global Market.

Key Takeaways

• Consumers are increasingly choosing healthier, natural, and organic beverages as adopting a healthy lifestyle among all age groups grows.
• Furthermore, shifting consumer preferences from high-calorie carbonated drinks to healthy plant-based drinks throughout the projected period will provide attractive growth prospects for the market.
• Consumers worldwide have become more health-conscious in recent years, resulting in a surge in demand for plant-based healthy drinks. Over the last few years, one of the main elements driving demand for aloe Vera-based beverages has been the consumer need for weight management options.
• The Aloe Vera-based Drinks Global Market Report will provide a detailed analysis of strengths, weaknesses, opportunities, and threats.

Aloe Vera-based Drinks Market Segmentation Analysis- By Type

Based on type, the Aloe Vera-based Drinks Global Market can be further segmented into Unflavoured and Flavoured. Unflavoured Aloe Vera Drinks held a dominant market share in the year 2021. These drinks are commonly taken for therapeutic purposes since they aid in liver detoxification and provide a variety of digestive advantages. Furthermore, unflavored drinks are commonly used as nutritious beverages that keep the body hydrated, provide nutrients, and increase immunity. However, Flavoured Aloe Vera Drinks are estimated to be the fastest-growing, with a CAGR of 11.2% over the forecast period of 2022-2027. The demand for the product in the region is driven by a rising consumer preference for healthy and nutritious plant-based drinks over sugary carbonated drinks. Owing to the growing vegan population in nations such as the United States, individuals in the region are increasingly adopting healthful plant-based drinks. Over the projection period, these trends are expected to raise demand.

Vera-based Drinks Market Segmentation Analysis- By Distribution Channel

The Aloe Vera-based Drinks Global Market based on Distribution Channel can be further segmented into Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, E-commerce, and Others. Offline retail shops such as Supermarkets/Hypermarkets held a dominant market share in 2021. In addition, numerous corporations are expanding their consumer base by creating new brick-and-mortar stores worldwide. According to a news release from Target Brands, Inc., the firm plans to open approximately 25 different shops in the United States by the end of 2020. In addition, by 2021, the business plans to open seven more outlets in the United States. In the near future, an increasing number of offline retailers will broaden the scope of this distribution channel. However, E-Commerce is estimated to be the fastest-growing, with a CAGR of 10.8% over the forecast period of 2022-2027. Businesses are gradually migrating from brick and mortar stores to e-commerce as a result of fast digitalization, expanding smartphone adoption, and increasing internet availability. Furthermore, to boost product awareness, manufacturers are increasingly presenting their products across online channels, including company-owned portals and e-retailers, particularly in emerging regions.

Aloe Vera-based Drinks Market Segmentation Analysis- By Geography

The Aloe Vera-based Drinks Global Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-Pacific held a dominant market share of 36% in the year 2021. Aloe-based drinks are a traditional beverage extensively used in countries such as India, South Korea, and Japan owing to their numerous health benefits, including improved liver function, nutritional support, increased hydration, and digestive benefits. Over the projection period, the market in North America is expected to rise at a faster rate. The U.S is one of the growing markets for these aloe-based drinks since Americans are choosing a healthier lifestyle as a result of their hectic work schedules. Moreover, the obesity and overweight population are rising, creating new opportunities for these weight-loss-friendly aloe-based drinks.

Aloe Vera-based Drinks Market Drivers 

Growing Demand for Plant-Based Nutritional Drinks is Boosting the Market Growth

The consumer demand for nutritionally rich plant-derived drinks, such as aloe vera-based drinks, is growing as a result of busy, stressful, and hectic lifestyles. Furthermore, changing consumer preference for healthy plant-based drinks over high-calorie, sugary carbonated beverages provides lucrative growth potential for the market. The global market is expected to benefit from these consumer trends. Moreover, the product has good medical capabilities that aid in liver function and is a rich source of vitamins and minerals. According to web med, Irritable Bowel Syndrome (IBS) benefits from aloe vera juice as a treatment. According to the International Foundation for Functional Gastrointestinal Disorders (IFFGD), Irritable bowel syndrome (IBS) is the most common functional gastrointestinal (GI) disorder, with worldwide prevalence rates generally ranging in the area of 10–15%. Intestinal inflammation produces discomfort as well as other consequences. Anti-inflammatory effects have been discovered in aloe. People with IBS who drank aloe vera drinks reported that some of their symptoms have improved, boosting the market growth.

Rising Number of Obesity coupled with the need for Aloe Vera Drinks for Weight Loss is Driving the Market Growth.

Over the last few years, one of the main elements driving demand for aloe vera-based drinks has been consumers' need for weight management options. The number of overweight persons in the world has risen dramatically in recent years. Obese and overweight people are more likely to develop other chronic diseases, including diabetes and heart diseases. According to WHO, obesity is prevalent in the world. Between 1975 to 2020, the global prevalence of obesity has quadrupled. More than 2 billion adults will be overweight in 2020. Over 600 million of them were obese. In Europe, more than half of the population is obese, with up to 30% of the population being obese, and the situation is fast deteriorating. By 2030, over half of the world’s adult population is predicted to be overweight.

Moreover, the COVID-19 pandemic has resulted in a boom in demand for plant-based immune-boosting foods and beverages worldwide. These aloe vera-based drinks are high in micronutrients, which assist the body in combating free radical damage and increasing immunity. These trends are providing the product with new growth potential.

Aloe Vera-based Drinks Market Challenges 

Adverse Effects of Latex Present in Aloe Vera is Posing Challenges to the Market

While aloe vera juice has many benefits, it can also have specific adverse effects that harm health. The latex in aloe vera leaves emanates from beneath the plant’s skin. Many people are allergic to latex, resulting in gastrointestinal irritation, cramping, and low potassium levels. Moreover, by drinking aloe vera juice, blood sugar levels can plummet. It has laxative properties that may increase diabetics' chances of electrolyte imbalance, hampering market growth. According to American Diabetes Association, in 2019, 37.3 million Americans, or 11.3% of the population, had diabetes.

Aloe Vera-based Drinks Market Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Aloe Vera-based Drinks Global Market. The top 10- Aloe Vera-based Drinks Global Market companies are-

1. OKF Corporation
2. Houssy Global
3.  Tulip International Inc.
4. Lotte Chilsung Beverage Co., Ltd.
5. Forever Living.com, L.L.C.
6. ALO Drinks
7. Aloe Drink for Life
8. Keumkang B&F Co., Ltd.
9.  Aloe Farms, Inc.
10. Atlatia UK Ltd.

Recent Developments

• In October 2021, to suit the health-conscious trend, Sappe PCL introduced two new flavors in the Sappe Aloe Vera drink range to the refreshment market. Honey-lemon and peach flavors with aloe vera pulp particles are the latest flavors offered by Sappe to Gen-Z customers, who will reap the full benefits of the aloe vera in every mouthfeel.
• In April 2021, Veganic, a Dublin-based company, announced Aloe Vera's launch with Apple juice in the United States, which is 100 percent organic and plant-based. There is no added water or artificial ingredients in Veganic’s Aloe Vera with Apple Juice.
• In July 2019, Raylex Brands has acquired WOW Drinks, a UK juice, and beverage company, in order to expand its plant-based beverage line. Raylex, which owns Simple Aloe Vera drinks 420 CBD-infused beverages, said the acquisition helps it achieve its aim to establish a portfolio of plant-based drinks.

Relevant Titles

Aloe Vera Extracts Market-Forecast (2021-2026)
Report Code: FBR 21667

Aloe Vera Juice Market-Forecast (2021-2026)
Report Code: FBR 62754

Aloe Vera Gel Market - Forecast (2021 – 2026)
Report Code: FBR 0542 

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