Aloe Vera Derivatives Market

Aloe vera derivatives are processed forms of the aloe vera plant that are used in various application industries. The growth of the global aloe vera derivatives market is driven by the health benefits associated with aloe vera. Moreover, the rising demand for plant-based ingredients in application industries is also fueling market growth. However, the side effects of the overconsumption of aloe vera are hampering the growth of the market. Players active in the global market are expected to witness lucrative opportunities in the coming years owing to the widening application scope of aloe vera derivatives in the animal feed and pet care industries.

Owing to the increasing health concerns among consumers, the demand for products made from natural and healthy ingredients is on the rise. Aloe vera is a perennial plant rich in various antioxidants, minerals, vitamins, and other bioactive compounds. Being natural and healthy, aloe vera is emerging as a suitable substitute for various synthetic ingredients in food & beverages, personal care products, and pharmaceuticals, among others. Manufacturers of food products, beverages, personal care products, and pharmaceuticals are shifting to natural nutrient-rich ingredients that offer several health benefits such as high antioxidant and antibacterial properties, skin enhancement, and treatment of digestive tract diseases.

An increase in health consciousness around the world has resulted in consumers shunning sweetened and heavily processed beverages in favor of natural alternatives such as plant-based beverages. The use of botanicals including aloe vera, nut milk, and herbs has increased in the manufacturing of beverages. The growing adoption of flexitarian and vegan diets has led manufacturers of plant-based beverages to expand their product offerings. A majority of the population across the world, especially in Europe and North America, are shifting their preferences to plant-based beverages. The hike in demand for plant-based beverages can be attributed to an increase in health consciousness around the world. As per WGR analysis, the global plant-based beverages market is projected to register an impressive CAGR of 8.50% during the forecast period of 2018 to 2023. Among the key regions, Europe garnered the largest revenue share of the global plant-based beverages market in 2017 and is expected to maintain its dominance during the forecast period.

Personal care is yet another prominent industry, in which aloe vera derivatives are widely used owing to the rising awareness regarding the side effects of several chemical ingredients in cosmetics. Consumers are shifting toward natural products free from synthetic ingredients. Various chemical ingredients in skincare products such as parabens, synthetic colors, and phthalates are harmful. For instance; parabens, mainly used as preservatives in cosmetics, disrupt hormonal functioning, leading to increased risk of breast cancer and reproductive toxicity. Surging demand for natural personal care products is driving the growth of the personal care industry. According to WGR analysis, the global natural and organic cosmetics market has been growing over the past few years and is projected to register a CAGR of 9.60% during the forecast period of 2018 to 2023. In 2018, the skincare segment garnered the largest revenue share of the global natural and organic cosmetics market. Thus, the demand for natural ingredients such as vegetable oils, essential oils, and botanical extracts including aloe vera that assist in providing healthy skin without causing any harm to the skin or body is increasing in the personal care industry.

The major application industries for aloe vera derivatives are food & beverages, personal care & cosmetics, pharmaceuticals, and nutraceuticals. However, the demand for aloe vera derivatives is increasing in the animal feed industry as well. Owing to their antioxidant, anti-microbial, and antifungal effects, and immune modulation, aloe vera derivatives are emerging as a promising herbal additive in animal feed, especially in poultry, pet food, and equine feed. According to Livestock Research for Rural Development, incorporation of aloe vera in poultry feed is effective in increasing egg production and egg weight. Additionally, aloe vera derivatives can be used in the pet care industry to manufacture pet shampoos, juices, creams, and other pet food and care products. Aloe vera derivatives help treat infections and function as diet supplements due to the benefits offered by the bioactive compounds present in aloe vera. There has been an increase in the number of pet-owning families across the world. According to the Pet Food Manufacturers Association, there were approximately 70 million pet-owning households in Europe, excluding Russia, whereas, in the US, more than half of American households owned a pet in 2017. The European Pet Food Industry Federation states that Europe is the largest revenue-generating region in the global pet food and pet care market with a market share of more than 30% in 2017.

Thus, the widening application scope of aloe vera derivatives in the animal feed and pet care industries is expected to render profitable opportunities to the players active in the global aloe vera derivatives market.

Aloe vera is a beneficial botanical ingredient or source that offers several health benefits upon consumption. However, excess consumption of aloe vera can lead to various side effects such as irritation, stomach pain, diarrhea, muscle weakness, cardiac issues, and even liver problems in rare cases. The side effects vary as per the consumption frequency, consumption doses, and consumption interval of aloe vera products. For instance, high consumption dosage of aloe vera leads to stomach pain and cramps, whereas prolonged consumption of aloe vera in high doses can lead to various kidney problems, cardiac issues, weight loss, diarrhea, and muscle weakness. The side effects can be attributed to aloe latex as excess consumption is hard on the kidneys and could lead to serious kidney diseases. According to the Mayo Clinic, aloe latex or whole-leaf extract taken orally can be unsafe in higher doses. Consumption of aloe latex at 1 gram per day can cause acute kidney failure and prove to be fatal.

Hence, the side effects of the overconsumption of aloe vera are hampering the growth of the global aloe vera derivatives market.