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The aloe vera-based drinks market size is projected to increase by USD 61.48 million and the market size is estimated to grow at a CAGR of 11.5% between 2022 and 2027. In 2017 the size of the market was valued at USD 63.39 million.
This aloe vera-based drinks market report extensively covers market segmentation by product (flavored and unflavored), distribution channel (offline stores and online stores), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Growing popularity of e-commerce is the key factor driving the growth of the global aloe vera-based drinks market. Sales of aloe vera-based beverages increased due to the expansion of the distribution network through e-commerce channels. The e-commerce sales channel offers a wide range of beverage brands based on aloe vera, a key factor behind the popularity of e-commerce retail sales. The massive increase in the number of e-commerce portals and the prevalence of smartphones has enabled vendors to sell aloe vera-based beverages through e-commerce channels such as Amazon.com, Inc (Amazon). Various vendors such as OKF and Houssy America offer aloe vera through e-commerce platforms. In addition, the penetration of online grocery stores is increasing in countries such as India and China.
Companies such as Supermarket Grocery Supplies Pvt Ltd (big basket) and Amazon.com, Inc (Amazon) have started operating in major Indian cities to provide grocery items on demand, including aloe vera-based drinks. This trend encourages various aloe vera-based drinks vendors to focus on the internet-friendly customer segment and enter online retail formats. This will also help vendors save operating and overhead costs compared to the physical store format. Thus, the increasing sales of aloe vera-based drinks through online retail channels and the increasing preference for e-commerce platforms will drive the market to focus during the forecast period.
The market is segmented by product as flavored and unflavored. For health benefits, flavored aloe vera-based offers a good taste to consumers. Thus, the high health benefits of aloe vera-based drinks and taste benefits leverage the segment and, in turn, will drive the market to focus during the forecast period.
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Key Trend and Challenge
Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
Rising adoption of innovative and sustainable packaging is the primary trend in the global aloe vera-based drinks market growth. Due to the increasing demand for aloe vera-based packaged beverages, many major players operating in the global aloe vera-based beverages market are focusing on bringing their products to market with innovative packaging that attracts consumers. increase. In addition, vendors are also focusing on improving sustainability by introducing environmentally friendly and recyclable packaging solutions. Lotte Chilsung Beverage declared adopting perforated lines in polyethylene terephthalate (PET) bottles to expand the use of packing materials that are easy to recycle. The company will research making packing materials lighter, more sustainable, and eco-friendly.
Vendors are offering innovative packaging formats and solutions to boost the demand for aloe vera-based drinks among consumers. The packaging should not only protect and preserve the juice but also draw the attention of customers. Consumers are increasingly concerned about environmental and sustainability issues and are looking for companies to take the lead in this area. Vendors are increasingly adopting biodegradable materials such as cardboard for aloe vera-based drinks packaging. Thus, an increase in the adoption of sustainable and innovative packaging is expected to boost the growth of the global aloe vera-based drinks market during the forecast period.
Stringent regulations on aloe vera-based drinks is a major challenge to the growth of the global aloe vera-based drinks market. Various government agencies around the world have implemented strict policies or regulations regarding the processing and manufacturing of aloe vera-based beverages. In the United States, regulations under the USDA mandate product descriptions, packaging and types of aloe vera-based beverages have been defined. of aloe vera), color, and flavor. In addition to these regulations, certain regulatory bodies are responsible for defining food and beverage safety parameters through certification of food and beverage products and for protecting and promoting public health.
In the US, manufacturers of food and beverage products need to comply with the guidelines set by the United States Food and Drug Administration (US FDA). In the EU member countries, manufacturers of aloe vera-based drinks are required to comply with the regulations set by the European Food Safety Authority (EFSA). The need to comply with these regulations involves additional costs, which is anticipated to hamper the profits of vendors and be a challenge for the global aloe vera-based drinks market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Aloe Vera-based Drinks Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The aloe vera-based drinks market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
In offline stores segment, the expansion of hypermarkets and supermarkets worldwide is expected to play a major role in driving the growth of this offline store segment. As these retailers have a global presence, they help improve the visibility of products offered by various aloe vera-based drinks vendors. Consumers can choose from aloe vera-based drinks in retail stores based on price and quality. These stores are convenient for consumers who prefer the traditional way of purchasing. Thus, the abovementioned factors will drive the segment, and, in turn, the market to focus on is expected to grow during the forecast period.
The market share growth by the flavored segment will be significant during the forecast period. In addition to health benefits, flavored aloe vera based offers great taste to consumers. The high health benefits and flavor benefits of aloe vera-based beverages are leveraging, which will drive the market to focus during the forecast period.
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The flavored segment was valued at USD 42.54 million in 2017 and continued to grow until 2021. High health benefits of aloe vera-based beverages such as promoting digestive health, helping treat diabetes in prediabetes, metabolism boosters, etc. are driving demand in this segment. For example, aloe vera-based drink contains anthraquinone glycosides. These are plants with laxative effects that help with constipation. In addition to health benefits, flavored aloe vera-based products provide consumers with a great taste. The high health benefits and taste benefits of aloe vera-based beverages have contributed and will converge the market during the forecast period.
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APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC has been the largest contributor to the global aloe vera-based beverage market in recent years and is expected to grow during the forecast period. This is due to the increasing acceptance of healthy lifestyles among all age groups. Consumers are increasingly choosing healthier, natural, and organic beverages. Moreover, the shift in consumer trends from high-calorie carbonated beverages to beneficial plant-based beverages is expected to offer lucrative opportunities for the growth of the regional aloe vera-based beverages market during the forecast period.
In 2020, the outbreak of COVID-19 in APAC forced governments of countries such as India and China to impose lockdowns, leading to the isolation of people in their homes. However, initiating vaccination drives led to the reopening of manufacturing facilities and offline distribution channels in the first half of 2021. Furthermore, the demand for healthy beverages such as aloe vera-based drinks increased in the region, accelerated by the pandemic. Such factors are expected to propel the regional aloe vera-based drinks market growth during the forecast period.
The aloe vera-based drinks market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Aloe Vera-based Drinks Market Scope |
|
Report Coverage |
Details |
Page number |
149 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.5% |
Market growth 2023-2027 |
USD 61.48 million |
Market structure |
USD Fragmented |
YoY growth 2022-2023(%) |
10.51 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 39% |
Key countries |
US, China, India, South Korea, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adret Retail Pvt. Ltd., ALO Drinks, Aloe Drink For Life, Aloe Farms Inc., FLORIDA BOTTELING INC., Forever Living Products International LLC, Gracekennedy Ltd., Houssy America, Keumkang B and F Co. Ltd., Lotte Chilsung Beverage Co. Ltd., Nam Viet Foods and Beverage Co. Ltd., NAWON Food and Beverage Co., OKF Co., Patanjali Ayurved Ltd., Rita Food and Drink Co. Ltd., Savia, Simplee, Tan Do Beverage, Tulip International Inc., and SMS International Beverages Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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