Electric Vehicle Market To Reach USD 802.75 Billion By 2028 | CAGR: 21.6%

The global electric vehicle market was valued at USD 273.31 billion in 2020 and is projected to reach USD 802.75 billion by 2028, expanding at a CAGR of 21.6% during the forecast period, 2021 – 2028. The growth of the market is attributed to increasing fuel prices and adverse effect of traditional fuel vehicles.

Electric vehicle runs on electricity. These vehicles do not have internal engine, as they function on electric motor that needs constant electric supply from batteries. Different types of batteries are used in electric vehicles such as molten salt, lithium ion, several nickel-based designs, and zinc air. Main motive of launching electric vehicle was to reduce environmental pollution.

Market Trends, Drivers, Restraints, and Opportunities:

  • Technological advancements have increased the popularity of electric vehicles.
  • Rising awareness of clean environment has increased the demand for electric vehicles.
  • Increasing fuel prices and adverse effects of traditional fuel on environment have increases the demand for electric vehicles.
  • Changing consumer preferences towards hybrid or battery-powered cars is expected to drive the market.
  • Rising demand for fuel efficient, low emission, and high-performance vehicles are estimated to fuel the market.
  • Favorable government policies, support for subsidies & grants, and tax rebates is projected to drive the market.
  • Factors such as low fuel economy & serviceability and high cost of manufacturing are expected to hamper the market growth.
  • Absence of charging infrastructure is estimated to hamper the market growth.
  • Rising preference for electric vehicles in government and commercial sector is projected to fuel the market.

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Market Segment Insights:

The commercial vehicle segment is expected to hold a major market share of the total revenue during the forecast period.

Based on vehicle types, the global electric vehicle market is segregated as passenger cars, commercial vehicles, and two wheelers. The commercial vehicles segment is projected to expand at a rapid pace during the forecast period. Growth of the segment is attributed to rising adoption of electric buses in developing countries such as India and China. Various countries are focusing on replacing their existing fuel-based buses with electric buses. Rising trend of replacement of fossil fuel-based vehicles with electric buses are likely to boost the market. Moreover, advancements in the battery of electric vehicles to improve the load capacity of vehicle are expected to drive the segment. The growth of logistics, shared mobility, and e-commerce is expected to propel the market during the forecast period.

The two-wheeler segment is expected to expand at a substantial CAGR during the forecast period. Transportation poses a challenge in several developing countries and many people in these regions opt for two wheelers. Rising petrol prices encouraged consumers to adopt electric vehicles.

The mid-priced vehicle segment is projected to expand at a robust CAGR during the forecast period

The plug-in hybrid electric vehicle segment held a major market share of more than 30% of the total revenue in 2019

The market in Asia Pacific is expected to expand at a robust CAGR during the forecast period

On the basis of regions, the global electric vehicle market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Automotive industries in Asia Pacific such as Japan, South Korea, and China are inclined towards technology, development, and innovation of advanced electric vehicles. Rising demand for decreasing carbon emissions and developing fast and advanced charging stations are estimated to boost the market in the region.

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Competitive Landscape:

  • Key players in the global electric vehicle market include Tesla, Nissan, BMW, BYD, Volkswagen AG, Toyota Motor Corporation, Daimler AG, BYD Company Motors, Ford Motor Company, Tata Motors, Bajaj Auto Corp, MG Motor India, JBM Auto Limited, Hyundai Motor India, Groupe Renault, Mahindra & Mahindra Limited, and Hero Electric.
  • These players adopted strategies such as developing new products, expansion strategies, partnerships, collaborations, and mergers & acquisitions to maintain their position in the competitive market.
  • Developed countries such as Germany, the UK, and the US are encouraging the use of electric vehicles to minimize emissions, which in turn, has increased the sales of electric vehicles.

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Hormonal Contraceptive Market Size Worth $21.1 Billion By 2026

The global hormonal contraceptive market size is expected to reach USD 21.1 billion by 2026, based on a new report by Grand View Research, Inc. It is projected to register a CAGR of 3.8% during the forecast period. Introduction of innovative products and growing awareness about reproductive and sexual health in emerging regions are likely to drive the growth.

Pill, Intrauterine Devices (IUD), injectable, vaginal rings, implants, and patches are various methods used for hormonal contraception. Hormonal contraception methods act on the endocrine system to prevent ovulation. Increasing number of women in developing economies are using contraceptives due to the rise in government initiatives and programs. This factor is anticipated to accelerate the market growth. For instance, according to the UN, approximately 64.0% of women between 15 and 49 years of age were using some form of family planning in 2015, be it traditional or modern. This figure stood at 36.0% in 1970.

The number of unintended pregnancies is the highest in U.S., which is about 3 million annually. Hence, the Center for Medicaid and CHIP Services (CMCS) established a Maternal and Infant Health Initiative for the Medicaid and Children’s Health Insurance Program (CHIP) to promote use of effective methods of contraception and help women avoid such pregnancies.

IUD segment is expected to witness the fastest growth during the forecast period, attributed to the entry of new devices, availability of long-acting reversible birth control methods, and more than 99.0% effectivity. For instance, in September 2016, Allergan and Medicines360 launched new LILETTA, a levonorgestrel-releasing intrauterine system in U.S. The device is a single handed inserter and for use by women to prevent pregnancy for up to three years.

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Further key findings from the study suggest:

  • High demand for contraceptive methods can be attributed to rising awareness about pills and devices, significance of family planning, and presence of supportive government policies improving access to these products
  • In 2018, pills accounted for the largest market share as these product are convenient to use and exhibit more than 99.0% effectivity when accurately consumed. Furthermore, ease of availability, fewer adverse effects, and presence of a large number of players can be contribute to this growth
  • North America held the largest market share in 2018 and is anticipated to maintain its dominance during the forecast period due to the presence of major market players, high per capita income, and supportive government initiatives
  • Asia Pacific is estimated to witness the fastest growth in the forthcoming years due to high unmet need, expected increase in coverage in the next 15 years, and increasing number of women in their reproductive age
  • Some of the key players operating in the hormonal contraceptive market are Teva Pharmaceuticals Industries Ltd.; Bayer AG; Merck & Co. Inc.; Pfizer; Afaxys, Inc.; Agile Therapeutics; Allergan; and Apothecus Pharmaceutical Corporation

Veterinary Imaging Market Size Worth $3.3 Billion By 2026

The global veterinary Imaging market size is expected to reach USD 3.3 billion by 2026, according to a new report by Grand View Research, Inc. expanding at a CAGR of 6.8% over the forecast period.The veterinary medicine field experienced immense technological developments in the last 20 years. Various technologies of human medical practice are being adopted for diagnosis and treatment of animals. Advancements in technologies are expected to fuel growth. For instance, launch of portable imaging equipment with battery charge is propelling the adoption of these systems in the following years.

Magnetic resonance imaging (MRI) and ultrasound analysis are some of the advanced technologies. MRIs are effective in the prognosis of human neurological disorders. These days, veterinarians are using MRIs for the examination of animal brains. This technology also helps in diagnosing soft tissues and orthopedic structure of an animal’s body. MRI has applications in cardiology for studying heart diseases.

Imaging devices help veterinarians and technicians in the diagnosis and management of zoonotic diseases. These instruments also assist in the diagnosis of injuries. Increasing adoption of advanced technologies coupled with growing awareness about animal health are some of the factors expected to propel market growth in the coming years. For example, University of Pennsylvania’s School of Veterinary Medicine was the first to use EQUIMAGINE, a diagnostic tool for horses. This device has 2 imaging C-arms that help in scanning all body parts of a horse. It also captures 2D CT images. This system is also currently being used in the diagnosis of diseases that affect horses.

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Further Key Findings From the Study Suggest:

  • Increasing demand for minimally invasive diagnostic tools to reduce mortality and morbidity is anticipated to fuel the market growth.
  • Instruments held the dominant share owing to their increasing adoption in reference laboratories and other animal healthcare facilities
  • The MRI segment is expected to witness lucrative growth in the coming years owing to rising awareness about their benefits in animal disease diagnosis
  • Multi-slice CT scan systems are anticipated to gain popularity over the forecast period
  • Small companion animals held the dominant share as of 2018 owing to increasing adoption of pets and concern about their well-being
  • Veterinary hospitals accounted for the largest revenue share as of 2018 due to increase in adoption of imaging devices in animal health care facilities
  • The North America veterinary imaging market held the dominant share as of 2018 owing to increasing number of animal healthcare settings and awareness among pet owners in this region
  • Asia Pacific regional industry is expected to grow at a lucrative CAGR owing to increase in the number of veterinary care facilities and investments in animal healthcare
  • IDEXX Laboratories, Inc.; SOUND; GE Healthcare; and Toshiba Corporation held the dominant share of the market owing to their wide offerings of technologically advanced products and regional presence
  • Competitors are adopting strategies such as launch of new products, mergers & acquisitions, and regional expansion to gain competitive advantage

Data Center Power Market Worth $10.77 Billion By 2025

The global data center power market size is expected to reach USD 10.77 billion by 2025, expanding at a CAGR of 6.9% from 2019 to 2025 according to a study conducted by Grand View Research, Inc. The market is majorly driven by the shift in focus of end-users towards hyper-scale and colocation data centers. Rising establishments of such data center facilities is anticipated to result in an increasing demand for data center power equipment over the forecast period.

Globally, data centers consume around 3% of the total energy generated. Thus, various data center designers are currently adopting advanced power distribution and management solutions to attain energy efficiency at lesser Power Usage Effectiveness (PUE) ratios. This goal to reducing the PUE ratio is expected to further fuel the demand for intelligent and advanced data center power products over the forecast period.

Uninterrupted Power Supply (UPS) is the backbone of data centers and are deployed for the smooth working of servers and other networking devices. Moreover, the cost of UPS is significantly higher than any other data center power products. Furthermore, most datacenters use smart UPS systems, battery monitoring devices, and intelligent Power Distribution Systems (PDU) to reduce the PUE ratio. Thus, increasing penetration of these new devices is expected to boost the demand for UPS over the forecast period.

Many mega data centers in North America engage in procuring renewable energy sources for data center operations. Tier 1 and Tier 2 facilities are anticipated to witness the espousal of basic PDUs. However, adoption of intelligent infrastructure with power monitoring ability is expected to witness growth owing to rising concerns about power consumption, particularly in U.S. However, rise in complexity of data center design, high initial investment costs, and interoperability issues are expected to hinder growth of the data center power market.

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Further key findings from the report suggest:

  • The UPS segment held the largest market share in 2018, accredited to the increasing demand for energy in data centers and adoption of co-location data centers globally
  • North America accounted for around 38.0% market share in terms of revenue in 2018 and is expected continue the dominance over the forecast period, owing to the increasing number of data centers in U.S. Additionally, the region has emerged as the hub for operators and cloud service providers owing to affordable utility rate and tax incentives
  • The data center power market is highly consolidated and is characterized by high competition with the presence of key players such as ABB, Black Box Corporation, Eaton, Generac Power Systems, and Huawei Technologies Co., Ltd., among others
  • These players engage in mergers and acquisitions to withhold strong market presence. For instance, in March 2016, Generac Power Systems, Inc. announced the acquisition of PR Industrial S.r.l (PRAMAC), a manufacturer and supplier of mobile, portable, and stationary generators. Through this acquisition, the former aimed at propelling product sales and elevating its market presence in Europe.

Energy Management System Market Worth $117.83 Billion By 2025

The global energy management system market size is expected to reach USD 117.83 billion by 2025, according to a new study conducted by Grand View Research, Inc., expanding at a CAGR of 17.1% during the forecast period. Technologically-updated business expansion initiatives such as smart cities are expected to fuel the energy management system (EMS) market growth. Selecting the right vendor is crucial for implementing and monitoring EMS solutions. Installing individual energy meters in problem areas and creating an interactive communication program among end users are likely to further lead to enhanced monitoring of the transmitted data.

Typically, an EMS includes devices, sensors, and meters that measure and monitor energy consumption and other factors related to them. These devices then transmit data over wireless network to a centrally-located server where an interactive application helps users in analyzing and optimizing information. Numerous EMS vendors provide hardware, software, and consulting support to keep the program running. Moreover, if the energy meters have the ability to operate on an open protocol, such as MODBUS, customers may not be dependent on any particular hardware or software vendor.

With an expected increase in the costs of energy, gas, electricity, and oil, companies have become more conscious about maintaining, utilizing, and conserving energy resources efficiently. The price decrease in primary and secondary renewable energy sources will play an important role in reducing manufacturing costs.

Most enterprises have realized the need to implement EMS solutions to effectively monitor their systems. Transport and industrial sectors witness increased energy consumption, which poses numerous environmental concerns. Thus, the need for an intelligent management system to streamline operations becomes inevitable.

In the recent times, most top players have been making large investments in research & development programs to enhance their products. Improved features such as product maintenance services and analyzing software analytics by expert consultants are a few key factors expected to drive the growth of energy management system industry.

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Further key findings from the report suggest:

  • The software segment is anticipated to grow at the highest CAGR of 18.0% from 2019 to 2025 owing to the rising demand for EMS to record and monitor energy utilized across various segments.
  • The HEMS segment in energy management system market is anticipated to grow at the highest CAGR of 19.4% from 2019 to 2025. This growth can be attributed to increasing adoption of HEMS for curtailing carbon emissions.
  • The demand response management segment is expected to witness the fastest growth over the forecast period. This growth is attributed to the increasing adoption of demand response management solutions for scheduling, monitoring, and controlling Distributed Energy Resources (DERs).
  • Increasing demand for EMS in power generation and transmission operations is expected to fuel the power & energy segment growth over the forecast period.
  • EMS are widely used in commercial buildings as it collects energy usage data and monitors equipment for maintenance needs.
  • The Asia Pacific region is expected to witness the fastest growth over the forecast period and reach USD 29.13 billion by 2025, owing to high number of effective energy management solutions in countries such as India and China.
  • Key industry participants include C3 Energy, General Electric Company, Emerson Process Management, Daikin Industries, Daintree Networks, Jones Sang LaSalle, Gridpoint Inc., Schneider Electric, Siemens AG, Honeywell International Inc., Elster Group GmbH, ABB, IBM, Toshiba Corporation, and Johnson’s Control International.

Data Center Cooling Market Worth $20.7 Billion By 2025

The global data center cooling market size is expected to reach USD 20.7 billion by 2025 expanding at a CAGR of 13.5%, according to a study conducted by Grand View Research, Inc. Rising number of data centers, increasing usage of cloud computing, and increased demand for eco-friendly cooling technologies are some of the key factors that are expected to boost the market growth.

Emergence of cloud computing coupled with initiatives by government organizations to promote the adoption of cloud technology and enable prominent vendors to introduce technological advancements is driving the market growth. For example, the government of UAE introduced various projects including Smart Dubai and Smart Abu Dhabi, which were aimed at bringing about digital transformation and economic growth in the country. Such initiatives are expected to drive the market in UAE.

Data center cooling accounts for over 30% of the total energy consumption. In the current scenario, companies are moving toward sustainable cooling, which can save up to 80% or more on energy costs for cooling. For instance, Apple’s North Carolina data center facility operates completely on sustainable, eco-friendly power sources as data center cooling is achieved through the free-air cooling technique, allowing the chillers to be off 75% of the time.

Additionally, there is a rise in pressure from the local and federal government agencies, environmentalists, and the general public for organizations to implement green initiatives. Therefore, high demand for eco-friendly and cost-effective cooling solutions is expected to propel the market growth. However, high installation and maintenance costs, electricity consumption, and carbon emissions are some of the challenges affecting the industry growth.

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Further key findings from the report suggest:

  • Telecom segment accounted for over 20.0% of the total market share in 2018 owing to increased penetration of 4G services and development of 5G infrastructure that has data-intensive networks
  • Furthermore, growing number of telecom subscribers using smartphones and tablets is anticipated to boost the demand for data centers, thereby propelling the market growth
  • Middle East region is expected to witness substantial growth owing to rising need for enhanced cooling techniques
  • Several IT companies, including Google Inc., Oracle Corporation, and Alibaba, have announced their plans to build data centers in the Middle East
  • Europe is also anticipated to witness a significant growth owing to cold weather conditions in Nordic countries
  • The raised floor with containment segment is expected to register the fastest CAGR 6% from 2019 to 2025
  • Major companies in the market are Schneider Electric, Rittal GmbH & Co. KG, Hitachi, Ltd., Fujitsu Limited, and Vertiv Co. Most of these industry participants focus on introducing different techniques to enhance their market presence

U.S. Heavy Movable Bridges Market Size Worth $4.67 Billion by 2025

The U.S. heavy movable bridges market size is projected to reach USD 4,665.6 million by 2025 and register a CAGR of 13.0% over the forecast period, according to a new report by Grand View Research, Inc. The market is anticipated to witness growth owing to the increasing infrastructural development across the country.

Heavy movable bridges generally have movable parts that can change position to allow the passage of water and road traffic. Technologies such as automation, remote monitoring, motor controls, and telemetry ensure that the bridges function smoothly, thereby resulting in economic benefits in the long run. The adoption of such technologies to modernize infrastructure to cater to the growing need for connectivity and mobility has become a crucial aspect of urbanization in the country. These factors are expected to contribute to market growth over the forecast period.

Several initiatives have been carried out by the U.S. government in the past few years for building and investing in multi-pronged infrastructure. These initiatives involve the upgrade, improvement, and development of bridges. Moreover, the market is anticipated to mobilize and incentivize private capital as part of its core strategy to complement these initiatives. States such as New York, North Carolina, Illinois, and Florida are expected to be instrumental in improving infrastructure. These factors are expected to cater to the increasing synergy of exports and boost the economic development of the country.

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Further key findings from the report suggest:

  • The U.S. market is expected to witness growth owing to the rising importance of improved transportation services for both public and commercial purposes
  • The increased popularity of heavy movable bridges in the U.S. can be attributed to the mechanical and commercial features benefitting the public and private sector organizations, respectively
  • Notable trends such as government initiatives carried out for improving road and water traffic management in various commercially important states are expected to drive market growth over the forecast period
  • The public/government segment predominantly owns the bridge infrastructure in the U.S. The government is currently focusing on granting build awards and sanctioning private investments
  • The public/government segment is expected to register the highest CAGR over the forecast period owing to increased government funding and related subsidies focused on managing the operations and maintenance of critical infrastructure assets
  • Illinois is estimated to emerge as the fastest-growing state in terms of infrastructure growth, registering a CAGR of over 15% over the forecast period. Chicago is considered to have the largest number of movable bridges both in the U.S. as well as globally
  • The growing number of movable bridges in Chicago can be attributed to the increasing accessibility of freight movement & public traveling and mobility, which is of key importance for the economic growth of the U.S.
  • Key industry participants include in U.S. heavy movable bridges market are National Railroad Passenger Corporation and Subsidiaries (Amtrak), Burlington Northern Santa Fe, LLC (BNSF Railway Company), Canadian National Railway Company, Canadian Pacific, and CSX Corporation
  • The abovementioned companies primarily own, operate, or maintain infrastructure across different states in the country.

Radiology Positioning Aids Market Size Worth $359.1 Million By 2026

The global radiology positioning aids market size is expected to reach USD 359.1 million by 2026, according to a new report by Grand View Research, Inc., registering a 5.7% CAGR during the forecast period. Increasing cases of bone fractures, along with growing prevalence of cancer, tumors, and other digestive conditions, is expected to drive the overall market.

North America was identified as the dominant region in 2018 in terms of market share and is expected to grow at a significant pace throughout the forecast period. The increasing momentum observed in this region is largely attributed to growing geriatric population, who are prone to fractures, and increasing product demand in hospitals.

Frequent introduction of innovative positioning aids are expected to impact the market dynamics during the forecast period. Introduction of advanced imaging systems boosts demand for newer types of positioning aids. Increasing number of standalone radiology centers in developing countries is expected to fuel the market.

Growing partnerships among players and suppliers to increase the reach of these products is expected to result in increased penetration and availability of these products. Moreover, courses for radiology and positioning is also expected to drive the radiology positioning aids market during forecast period.

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Further key findings from the report suggest:

  • The wedge X-ray segment is predicted to register significant growth over the forecast period owing its advance angled design that helps in providing proper image along with enhanced patient comfort
  • Head, neck, and brain related devices are anticipated to hold maximum share in the forthcoming years due to growing number of cases associated with these anatomy
  • Hospitals is anticipated to hold a larger share in radiology positioning aids market owing to growing adoption of different advanced X-ray or radiology devices such as X-ray devices with different material such as polyurethrane
  • Asia Pacific is anticipated to witness considerable growth over the forecast period due to improving healthcare facilities and adoption of advanced imaging devices for proper diagnosis
  • Major market players include Bionix Radiation Therapy; CIVCO Radiotherapy; AADCO Medical, Inc.; IZI Medical Products; Varian Medical Systems, Inc.; Elekta AB; VERTEC LTD.; and Klarity Medical Products. These players are focusing on expanding their distribution network by forming associations with suppliers.

Clip Applicator Market Size Worth $8.0 Billion By 2026

The global clip applicator market size is expected to reach USD 8.0 billion by 2026 according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 7.0% during the forecast period. Rise in laparoscopic surgeries and high demand for minimally invasive procedures are projected to propel the growth.

The number of laparoscopic surgeries is increasing annually. As per the data published by June Medical, around 1.5 million laparoscopic surgeries are performed in U.K. every year. Growth in the number of laparoscopic surgeries is attributed to increasing acceptance and popularity among both doctors and patients. This factor is anticipated to augment the demand for clip applicator over the forecast period.

Rising prevalence of gastrointestinal diseases and cancers among other diseases that require endoscopy procedures, is one of the factors boosting the market growth. In addition, prevalence of chronic diseases among baby boomers, awareness regarding novel devices as well as rising preference for minimally invasive surgeries is anticipated to support the market growth. Recent endoscopy techniques have revolutionized the examination and treatment of upper gastrointestinal tract including duodenum, stomach, and esophagus, and the colon.

Growing number of gynecology surgeries is also driving the clip applicator market. As per a study by the Japan Society of Obstetrics and Gynecology, the number of endoscopic surgeries increased from 56, 233 surgeries in 2014 to 80, 678 in 2016 nationwide.

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Further key findings from the report suggest:

  • Endoscopic appliers segment registered the highest market share in 2018 owing to availability of single and multi-firing clip device required for proper closure of incisions in Peroral Endoscopic Myotomy (POEM)
  • Laparoscopic appliers segment is anticipated to expand at the fastest CAGR over the forecast period owing to innovations in devices in terms of significant cost savings in laparoscopic procedure
  • North America accounted for a significant clip applicator market share in 2018, attributed to the increase in geriatric population, number of surgeries, high adoption rate of technologically advanced devices, and high awareness regarding the benefits of minimally invasive surgeries
  • Asia Pacific is anticipated to expand at the fastest CAGR over the forecast period supported by improving healthcare infrastructure and growing medical tourism due to affordability
  • Some of the players operating in the market includes B. Braun Melsungen, LUMED, Unimax Medical Systems, Betatech, Geyi Medical, Mediflex, Medscope, CONMED Corporation, Medtronic, J&J Medical Devices, Millennium Surgical Corp, and Teleflex Incorporated

Aloe Vera Extract Market Size Worth $2.67 Billion By 2025

The global aloe vera extract market size is expected to reach USD 2.67 billion by 2025 registering a CAGR of 7.6%, according to a new report by Grand View Research, Inc. Rising importance of herbal extracts owing to their potential benefits in preventing various health disorders is driving the product demand. Moreover, shifting consumer preference for natural and organic products over chemical-based products is expected fuel the demand further.

Juice/liquid product segment held the largest share in the global market in 2018 due to increased consumption of juice for the treatment of obesity and diabetes in countries, such as India and China. Gel segment is witnessing a significant growth due to rising demand for gel-based products, such as soaps, shampoos, and moisturizers. Online distribution channel segment is expected to witness the fastest growth over the forecast period. In Europe, around 50% of cosmetic manufacturers have their own online distribution channel.

Various small-scale organic product manufacturers sell their products through their own websites. These factors are driving the segment growth. Moreover, increasing penetration of smartphones coupled with the digitalization has increased the scope of online channels. In the European market, Germany account for the highest share of this segment. Asia Pacific led the global market accounting for 30.6% of the overall market share. The region is expected to maintain its dominance over the forecast period owing to increasing demand for herbal cosmetics in the region.

China held the major share of Asia Pacific market in 2018 and is likely to expand further at a CAGR of 8.9% from 2019 to 2025. Aloe Vera juice is used for the treatment of diabetes, cancer, and obesity. Increasing prevalence of diabetes in the country is expected provide growth opportunity for the market over the forecast period.

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Further key findings from the report suggest:

  • Product demand in North America is anticipated to grow at a CAGR of 8.7% over the forecast period owing to rising consumer preference for natural products over synthetic or chemical-based goods
  • China led the Asia Pacific aloe Vera extract market on account of higher population and demand for herbal products and is expected to witness the fastest growth over the forecast period
  • Manufacturers are aiming to achieve optimum business growth by implementing strategies including acquisition, joint venture, capacity expansion, new product development, promotion of crucial product brands, and significant investments in R&D
  • Some of the major companies in the market are Terry Laboratories, Inc.; Cady products LLC.; Pokonobe Inc.; Lily of the Desert; Aloe Farms, Inc.; Houssy Global; Aloecorp, Inc.; Natural Aloe Costa Rica S.A.; Foodchem International Corporation; and Pharmachem Laboratories, Inc.; Aloe Laboratories, Inc.; and Organic Aloeceuticals