Aloe Vera Juice Market Size

Aloe Vera Juice Market size was valued at USD 1.05 Billion in 2023 and is expected to exceed USD 3.13 Billion by the end of 2036, registering over 8.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of aloe vera juice is evaluated at USD 1.15 Billion. The increasing prevalence of this diabetes disease and its resulting expenses are factors that are boosting the demand for aloe vera juice among healthcare practitioners. Additionally, early research has shown that consuming aloe vera juice helps in managing diabetes symptoms effectively. For instance, over 37 million nearly 11% of the United States population had diabetes in the year 2019. It was found that the consumption of aloe vera juice and extract helps in lowering high sugar levels in diabetic patients and keeps diabetes in check.

Aloe vera is a moist plant species that grows in tropical climatic conditions across the globe. It is generally cultivated for food, medicinal and cosmetics uses. Aloe vera extracts find wide applications in the medical and food & beverages sectors. These extracts are used to produce aloe vera drinks and food in with the purpose to minimize the burden of diseases. The demand for aloe vera extracts is growing in food and beverage industries across the globe owing to its cost-effectiveness, availability, and growing consumer preferences for aloe vera products over flavor essence products. Moreover, the growing number of elderly people around the world coupled with increasing consumption of aloe vera juice to reduce the risk of chronic diseases among the older population is expected to augment market growth over the forecast period. As per the data from the World Bank, the total number of elderly people aged above years was 747,238,580 at the end of the year 2021.