The global aloe vera drinks market size is expected to reach USD 183.5 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 11.3% from 2020 to 2027. Rising demand for healthy, nutritious, and ready-to-drink products among all age groups across the globe is the key factor for the market growth. Moreover, these drinks have excellent medicinal properties and can treat various skin and liver-related diseases. These medicinal properties of the product are also offering new scope for the global market.
Rising health consciousness among consumers owing to busy, stressful, and hectic lifestyles is fueling the demand for nutritious and healthy plant-derived drinks, such as aloe vera-based drinks. Moreover, shifting consumer predilection for healthy plant-derived drinks rather than high calorie and sugary carbonated drinks are offering lucrative growth opportunities for the market. These consumer trends are anticipated to boost demand in the global market. In addition, the product has excellent medicinal properties, which help to improve liver functioning, and is an excellent source of vitamins and minerals, like vitamins B, C, E, and folic acid.
Asia Pacific was the largest regional market, accounting for a share of more than 30.0% in 2019. Aloe-based juice or drink is a traditional drink, which is widely consumed in various countries, such as India, China, South Korea, and Japan, owing to its excellent medicinal properties. With the increasing popularity of healthy plant-based beverages among the young generation and working-class population, the demand for aloe vera drinks is anticipated to grow in the region over the forecast period.
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Aloe Vera Drink Market Report Highlights
- Unflavored aloe vera drinks emerged as the largest product segment with a share of more than 60.0% in 2019 and are expected to maintain the lead over the forecast period. These drinks are widely consumed for medicinal purposes as they help in detoxing lever and have several digestive benefits
- The flavored product segment is anticipated to witness the fastest growth, with a CAGR of 11.6% from 2020 to 2027. Rising consumer preference for healthy and nutritious plant-based beverages rather than sugary carbonated drinks is propelling the demand for the product in the region
- The online sales channel is anticipated to be the fastest-growing distribution channel with a CAGR of 12.0% from 2020 to 2027. With rapid digitalization, rising penetration of smartphones, and growing internet access, businesses are gradually shifting from brick and mortar stores to e-commerce
- North America is anticipated to be the fastest-growing region with a CAGR of 12.1% from 2020 to 2027. The obesity and overweight population in the U.S have been witnessing an increase, which is expected to expand the application scope of such products in weight management.
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Aloe Vera Drink Market Segmentation
Grand View Research has segmented the global aloe vera drink market on the basis of product, distribution channel, and region:
Aloe Vera Drink Product Outlook (Revenue, USD ‘000, 2016 – 2027)
- Flavored
- Unflavored
Aloe Vera Drink Distribution Channel Outlook (Revenue, USD ‘000, 2016 – 2027)
- Hypermarket & Supermarket
- Drugstores
- Online
- Others
Aloe Vera Drink Regional Outlook (Revenue, USD ‘000, 2016 – 2027)
- North America
- The U.S.
- Europe
- The U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
List of Key Players of Aloe Vera Drink Market
- OKF Corporation
- Houssy Global
- Tulip International Inc.
- Lotte Chilsung Beverage Co., Ltd.
- Forever Living.com, L.L.C.
- ALO Drinks
- Aloe Drink For Life
- Keumkang B&F Co., Ltd.
- Aloe Farms, Inc.
- Atlantia UK Ltd.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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