Aloe Vera Market Size

Aloe Vera Market Outlook

According to a new report by Expert Market Research titled, “Aloe Vera Market Share, Size, Analysis, Report and Forecast 2023-2028″, the global aloe vera market reached a value of almost USD 708.69 million in 2022. Aided by aloe vera’s therapeutic properties and rising application of aloe vera in the production of different products, the market is projected to further grow at a CAGR of 8.5% between 2023 and 2028 to reach a value of almost USD 1,156.51 million by 2028.

Aloe vera, a succulent plant species renowned for its myriad health benefits, has been a coveted ingredient across cultures and centuries. Widely recognised for its therapeutic qualities, it finds predominant use in products ranging from skincare to dietary supplements. Replete with enzymes, vitamins, salicylic acids, and minerals, aloe vera is considered a panacea for a plethora of skin ailments and health conditions. Moreover, its hydration, anti-inflammatory, and soothing characteristics make it an invaluable component across a spectrum of industrial applications, spanning from cosmetics to the beverage industry.

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Growing inclination towards holistic health and organic wellness is considered as one of the major aloe vera market trends. Consumers today, more than ever, are pivoting towards natural remedies and herbal products, with aloe vera being a significant choice. Whether it’s the surge in demand for aloe-infused beauty products or the burgeoning popularity of aloe vera juices, this potent plant is enjoying heightened reverence in contemporary markets.

The aloe vera market growth is propelled not only by consumer inclination but also by innovations in product formulation. The cosmetics and skincare sector, in particular, is witnessing influx of products that highlight aloe vera as their main ingredient. From facial creams to sunscreens, aloe vera’s moisturising and skin-healing properties are making it a popular choice. Additionally, in the nutrition sector, aloe vera supplements and juices are being promoted for their digestive benefits and immunity-boosting properties.

Shifting preference towards organic and sustainably sourced products is further bolstering the aloe vera market demand globally. With the green revolution permeating consumer consciousness, the preference is for aloe vera products that are free from artificial additives, chemicals, and are ethically harvested. This conscious consumerism is thereby enhancing greater transparency in sourcing and production processes, with many brands flaunting their organic certifications and sustainable practices.

A comprehensive aloe vera market analysis indicates the emerging applications of aloe vera across various sectors. For instance, the pharmaceutical industry is increasingly studying aloe vera’s potential in wound healing, diabetes management, and its anti-carcinogenic properties. The food and beverage sector, too, is expanding its range of aloe vera-infused products, beyond just juices, encompassing gels, desserts, and health shots.

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Aloe Vera Market Segmentation

The market can be divided based on product, form, end use industry, and region.

Market Breakup by Product

Aloe Vera Gel Extract
Aloe Vera Whole Leaf Extract
Others

Market Breakup by Form

Concentrates
Gels
Drinks
Powders
Capsules

Market Breakup by End Use Industry

Pharmaceutical Industry
Cosmetic Industry
Food Industry

Market Breakup by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global aloe vera market. Some of the major players explored in the report by Expert Market Research are as follows:

Aloe Farms, Inc.
Aloe Laboratories
Terry Laboratories
Aloecorp.
Ashland Global Holdings Inc.
Herbalife International of America, Inc.
Others

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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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Aloe Vera Market Outlook

Aloe Vera Market Segmentation

Competitive Landscape

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