Global Aloe Vera-based Drinks Market 2016-2020
Overview of the global aloe vera-based drinks market
Technavio’s market research analyst predicts the global aloe vera-based drinks market to grow at a CAGR of close to 10% between 2016 and 2020. One of the primary factors driving growth in the aloe vera-based drinks market is the health benefits associated with the consumption of aloe vera. The aloe vera juice contains several nutrients including calcium, iron, sodium, potassium, zinc, manganese, vitamin A, vitamin B, vitamin C, vitamin E, amino acids, and folic acid, which helps in fortifying the body's immune system. The increasing adoption of a healthy lifestyle by the consumers will significantly benefit the aloe vera-based drinks market. Besides helping in detoxification of the body, these drinks also lower the cholesterol and blood sugar and aid in smooth digestion hair growth. Several vendors are also launching well-planned marketing campaigns to increase awareness among consumers regarding the nutritional advantages of aloe vera-based drinks. The growing popularity of these drinks, especially among the fitness-conscious millennials, has propelled various players to enter into strategic partnerships and come up with new product variants to cater to the consumer demands.
Observing the growing trend of health consciousness among consumers, several vendors in the market are launching hybrid juices such as aloe vera combined with other juice types like mango. For instance, ALO has come up with ALO Allure product with ingredients including aloe vera, mangosteen, and mango. Similarly, Apollo Life and Patanjali Ayurveda have introduced aloe vera juice mixed with orange juice in the Indian market. Lily of the Desert is selling its aloe vera-based drinks as dietary supplements.
Competitive landscape and key vendors
The presence of numerous small and large vendors makes the global aloe vera-based drinks market extremely fragmented. Intense competition prevails in the market where vendors contend in terms of price, quality, innovation, reputation, and distribution. Moreover, the rapidly changing consumer demands and preferences have propelled manufacturers to constantly focus on R&D and product innovations to maintain its customer base.
Leading vendors in the market are -
- Aloe Farms
- Forever Living Products
- Houssy Global
- OKF Corp.
Other prominent vendors in the aloe vera-based drinks market include Aloe Vera India, Dynamic Health Laboratories, Essentia Herbs Industries, HAS HERBAL, Lakewood, Okeyfood, Patanjali Ayurveda, Sanjivani Drugs & Research Centre, and Warren Laboratories.
Segmentation by distribution channel and analysis of the aloe vera-based drinks market
- Specialty stores
- convenience stores
- Supermarkets and hypermarkets
Specialty stores accounted for the largest share of the market during 2015 and are the main channel of distribution of aloe vera-based drinks. The aloe vera-based drinks are mostly available through natural food and beverage distribution channels. This retail format is more specific in product offerings and provides a wide portfolio of products. Consumers prefer these stores over other distribution channels because they have the latest product introduced in the market.
Geographical segmentation and analysis of the aloe vera-based drinks market
The aloe vera-based drinks market in APAC will grow significantly in the coming years owing to the presence of a large number of players and products. The increasing requirement for healthy food and beverage alternatives, especially among the younger consumers, is the major growth factor for aloe vera-based drinks in APAC. Also, the vendors are launching several innovative products, which is aiding in the growth of the market in APAC. For instance, South Korea’s OKF Corp. has recently come up with an organic aloe drink, which it claims to be the only organic aloe drink certified by USDA and EU.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global aloe vera-based drinks market?
- What are the key market trends impacting the growth of the global aloe vera-based drinks market?
- What are the challenges to market growth?
- Who are the key vendors in the global aloe vera-based drinks market?
- What are the market opportunities and threats faced by the vendors in the global aloe vera-based drinks market?
- Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
- What are the key outcomes of the five forces analysis of the global aloe vera-based drinks market?
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