Aloe Vera Drinks Market Size, Share & Trends Report

Aloe Vera Drinks Market Size, Share & Trends Analysis Report By Product (Flavored, Unflavored), By Distribution Channel (Hypermarket & Supermarket, Drugstores, Online), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Aug, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68038-912-8
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 80

Report Overview

The global aloe vera drinks market size was valued at USD 77.8 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.3% from 2020 to 2027. With the rising adoption of a healthy lifestyle among all the age groups, the consumers are increasingly opting for healthier, natural, and organic beverages. In addition, shifting consumer inclination from high-calorie carbonated drinks to beneficial plant-based drinks is offering lucrative growth opportunities for the market over the forecast period. Over the past few years, consumers around the globe have become very conscious about their health, which has propelled the demand for plant-based healthy drinks. The usage of aloe vera as a medicinal plant is quite popular in the forms like drinks as well as a gel in some Asian countries, such as India, South Korea, China, and Japan. It has numerous medicinal properties. It helps in treating burns and wounds, reducing fever, improving lever functionality, weight management, and is beneficial for various other skin diseases.

The U.S. aloe vera drinks market size

Furthermore, aloe is a very water-dense plant, and hence these aloe-based drinks are beneficial for hydration during the summer season. Consumer demand for weight management solutions has been one of the key factors driving the demand for aloe vera-based drinks over the past few years. The number of overweight people in the world has significantly increased over the past few years. For instance, according to the data published by the World Health Organization (WHO), in 2016, more than 1.9 billion adults around the globe aged 18 years and above were overweight, of which 650 million were obese. Obese and overweight people are more prone to other chronic diseases, such as diabetes and cardiovascular diseases. Increasing instances of chronic diseases drive the demand for aloe vera drinks in the global market.

Due to the COVID-19 pandemic, the surge in demand for plant-based immune-boosting food and beverages has been witnessed across the globe. These aloe-based drinks are an excellent source of micro-nutrients, which help fight against free radical damage in the body, and hence immunity in the body gets boosted. These global trends are offering new growth opportunities for the product.

Product Insights

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 the liver and have several digestive benefits. Moreover, unflavored drinks are generally consumed as healthy drinks, which keep the body full of water, nutrients, and help to boost immunity.

Flavored aloe vera is anticipated to be the fastest-growing product segment with a CAGR of 11.6% from 2020 to 2027. Rising consumer preference for healthy and nutritious plant-based drinks rather than sugary carbonated drinks is propelling the demand for the product in the region. The people in the region are increasingly adopting healthy plant-based drinks owing to the increasing vegan population in the countries, like the U.S. These trends are anticipated to boost the demand over the forecast period.

Distribution Channel Insights

Hypermarket and supermarket was the largest distribution channel segment with a share of more than 40.0% in 2019 and is anticipated to maintain the lead over the forecast period. Major manufacturers are promoting their products through offline retail stores, such as hypermarkets and supermarkets. Moreover, several companies are opening new brick and mortar stores across the globe to expand their customer base. For instance, according to a press release by Target Brands, Inc., the company is set to inaugurate around 25 new stores in the U.S. by the end of 2020. In addition, the company is planning to add seven more stores in the U.S. by 2021. An increasing number of offline stores expand the scope of this distribution channel in the foreseeable future.

Global aloe vera drinks market share

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. Moreover, manufacturers are increasingly showcasing their products across online platforms, including company-owned portals and e-retailers, to increase their product visibility, especially in the emerging markets. In addition, online giants such as Tesco.com, Walmart, Amazon Prime Pantry, Alibaba, Godrej Nature's Basket, Honestbee, and Yihaodian are expanding rapidly owing to shifting consumer preferences.

Regional Insights

Asia Pacific was the largest regional market for aloe vera drinks, 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, South Korea, and Japan, owing to its large number of health benefits, such as improved liver functioning, nutritional boost, enhanced hydration, and digestive benefits.

North America is anticipated to be the fastest-growing regional market with a CAGR of 12.1% from 2020 to 2027. The U.S. is one of the fastest-growing markets for these aloe-based drinks as the people in the country are adopting a healthy lifestyle owing to busy and hectic work life. Moreover, the obesity and overweight population is increasing, which opens a new scope for these effective aloe-based drinks for weight management.

Key Companies & Market Share Insights

The market is extremely fragmented due to the presence of a large number of domestic as well as international players. Major players have a substantial market share in the Asia Pacific, North America, and Europe. Asian countries such as India, Japan, and South Korea are some of the largest consumers of aloe drinks in the world as the product has been used for centuries for medicinal purposes. Domestic yet major players in the region are launching new products in the market with the increasing demand for the product. For instance, in January 2018, Baidyanath Group, an Indian pharmaceutical company pioneering in Ayurvedic medicines, launched a wide range of natural juices including aloe vera, gooseberry, black plum, and bitter gourd. These product launches are opening new scope in the market and are anticipated to foresee a high growth rate over the forecast period. Some of the prominent players in the aloe vera drinks market include:

  • 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.

Aloe Vera Drinks Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 86.7 million

Revenue forecast in 2027

USD 183.5 million

Growth Rate

CAGR of 11.3% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD  ‘000 and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; MEA

Country scope

The U.S.; The U.K.; Germany; France; China; India; Japan; Brazil

Key companies profiled

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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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global aloe vera drinks market report on the basis of product, distribution channel, and region:

  • Product Outlook (Revenue, USD ‘000, 2016 - 2027)

    • Flavored

    • Unflavored

  • Distribution Channel Outlook (Revenue, USD ‘000, 2016 - 2027)

    • Hypermarket & Supermarket

    • Drugstores

    • Online

    • Others

  • 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

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