The global Aloe Vera market reached a value of US$ 602 Million in 2019. Aloe Vera is widely used for its healing and restorative properties. It belongs to the liliacea family and has thick green leaves which contain gel and latex. The gel consists primarily of water and the rest includes various vitamins, amino acids, enzymes, hormones, minerals and sugars, most of which are found in the human body. Aloe Vera is widely used in the food industry, cosmetic and toiletries industry, and the pharmaceutical industry. The market has been growing steadily over the last decade driven by varied and increasing usage of Aloe Vera in the food, health care and cosmetic industries.
IMARC Group’s latest study “Aloe Vera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025” provides a comprehensive analyses of the global Aloe Vera market. The study segments the market on the basis of three key application areas of Aloe Vera in the cosmetics, food, and healthcare industries. The healthcare and cosmetics sectors are currently the two biggest drivers of Aloe Vera consumption. Region-wise, Thailand was the biggest producer of Aloe Vera accounting for around a third of the total global production. Other leading producers include Mexico, Dominican Republic, United States and Costa Rica. The report also analyses some of the key players of the Aloe Vera market. Forever Living Products is currently the largest producer of Aloe Vera products in the world. Other major players and their profiles have also been included in the report. Looking forward, IMARC Group expects the global aloe vera market to exhibit its moderate growth during the next five years.
Global Aloe Vera Market Drivers
The study, done by one of the leading research and advisory firms, covers all the requisite aspects of the global Aloe Vera market. This ranges from a comprehensive view of the market to minute details of the industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the Aloe Vera market in any manner.
Key Questions Answered in This Report:
The global aloe vera market was worth US$ 602 Million in 2019.
The global aloe vera market is expected to reach US$ 915 Million by 2025, growing at a CAGR of 8.60% during the forecast period (2020-2025).
The utilization of aloe vera in the production of personal care products, like face wash, toners, face packs, creams and body lotions, is one of the significant market drivers.
With the rising health-consciousness, consumers now prefer products containing natural ingredients, such as aloe vera, which are perceived to be safer and healthier than their processed or chemical alternatives.
Due to the outbreak of the coronavirus disease (COVID-19), lockdowns have been imposed by governments of numerous countries. This has led to a temporary shutdown of various manufacturing units, thereby negatively influencing the market.
Based on the product, the market has been segregated into aloe vera gel extract, aloe vera whole leaf extract, and others. Aloe vera whole leaf extract currently holds the largest market share.
The market has been categorized into concentrates, gels, drinks, powders and capsules. Amongst these, aloe vera is mostly consumed in the form of drinks.
On the basis of the application, aloe vera is mostly used in the cosmetic industry. Other major applications are the pharmaceutical and food industries.
Region-wise, Thailand holds the leading position in the market. Other major regions are the United States, Mexico, Dominican Republic and Costa Rica.
The leading market players are Forever Living Products (FLP), Herbalife International of America, Inc., Aloecorp, Aloe Laboratories, Inc., Terry Laboratories, LLC, Lily of the Desert, Foodchem International Corporation, and Pharmachem Laboratories, Inc.
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