The new report by Expert Market Research titled, ‘Global Aloe Vera Market Size, Share, Growth, Trends, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global aloe vera market, assessing the market based on its segments like product, form, end use and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 708.69 million
- Forecast CAGR (2023-2028): 8.5%
- Forecast Market Size (2028): USD 1,156.51 million
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The market for aloe vera has seen substantial growth due to factors such as therapeutic properties of aloe vera . Also, increased knowledge across different industries offers an enormous market opportunity for key players in the aloe vera market. The product is used in the healthcare industry to make a variety of items, including tonics, pills, tablets, salves, and supplements, which contributes to the industry’s growth.
Several people often use it at home to treat wounds and various skin ailments. It is also shown promise in the treatment of psoriasis, blood sugar levels, lowering LDL, and raising HDL. The plant has a variety of uses in the cosmetics industry, including organic and herbal products, which helps to boost the industry’s growth. Hair tonics, hair masks, conditioners, eyeliners, sunblocks, shampoos, and other products contain the ingredient.
Furthermore, because of the growing health consciousness among customers, food and beverage manufacturers are launching products containing aloe vera, such as tea, juices, flavoured beverages, instant drink powders, and others. In the coming years, these factors are expected to drive the aloe vera market forward.
Aloe Vera Industry Definition and Major Segments
The healing and restorative effects of aloe vera are well known. It has dense, succulent green leaves that are rich in latex and gel. The gel is largely made up of water, with the remainder consisting of vitamins, enzymes, hormones, amino acids, minerals, and sugars, the majority of which are present naturally in the human body. It is widely used in the cosmetics and toiletries, as well as the food and pharmaceutical sectors.
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Based on the product, the industry is divided into:
- Aloe Vera Gel Extract
- Aloe Vera Whole Leaf Extract
Based on the form, the industry is divided into:
- Concentrates
- Gels
- Drinks
- Powders
- Capsules
Based on the end use, the industry is divided into:
- Pharmaceutical
- Cosmetic
- Food
The regional markets for aloe vera include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Aloe Vera Market Trends
Geographically, Thailand is the world’s leading producer of aloe vera, accounting for more than a third of global output. The Asia Pacific region, on the other hand, is the largest user of the commodity, accounting for the majority of global consumption. The use of aloe vera extract has grown in popularity in recent years because of its medicinal benefits in treating a variety of ailments.
Furthermore, favourable regulatory body recommendations have resulted in substantial market growth. In 1959, the FDA approved Aloe vera ointment as an over-the-counter treatment for skin burns. The therapeutic properties of aloe vera are driving the global aloe vera market, which is generating demand for the commodity in a variety of industries.
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