Aloe Vera Market

Market Overview 2023-2028:

The global aloe vera market size reached US$ 770 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,200 Million by 2028, exhibiting a growth rate (CAGR) of 7.5% during 2023-2028.

Aloe vera, also known as Barbadensis Miller, is a succulent plant species of the Liliaceae family. It contains polysaccharides in the gel or latex of its thick green leaves. It offers healing, medicinal, and restorative properties on account of its high amounts of amino acids, sugars, enzymes, hormones, vitamins, and minerals. It aids in minimizing the risk of cancer and acid reflux and reducing inflammation in the body. It also helps treat oral problems, microbial growth, skin diseases, and digestive ailments, and boosts immunity. As a result, aloe vera is extensively used across several industries, including personal care, cosmetics, pharmaceutical, and food and beverage (F&B).

Aloe Vera Market Trends:

The growing global geriatric population and the rising occurrence of obesity, diabetes, cardiovascular diseases, and skin-related problems represent one of the key factors positively influencing the demand for aloe vera. In addition, the increasing health awareness among consumers is driving the consumption of aloe vera products. Apart from this, the shifting consumer preference from chemical-based products toward herbal or organic ingredients is offering lucrative growth opportunities to manufacturers. Additionally, the growing adoption of the product in formulating personal grooming products, such as facial creams, moisturizers, anti-aging products, face wash, and sunscreens, is bolstering the market growth. Furthermore, it is used in shampoos, conditioners, hair packs, and serums as it assists in promoting hair growth, removing dandruff, conditioning the hair, and maintaining the pH level of the scalp. Besides this, the increasing use of aloe vera extracts in the burgeoning pharmaceutical industry to manufacture ointments, gels, tablets, capsules, and other medical products are contributing to the market growth. Moreover, the expansion of organized distribution channels and the proliferation of the e-commerce industry are propelling the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global aloe vera market report, along with forecasts at the global and country level from 2023-2028. Our report has categorized the market based on product, form and application.

Breakup by Product:

• Aloe Vera Gel Extract
• Aloe Vera Whole Leaf Extract
• Others
   

Aloe vera whole leaf extract currently holds the largest share as it is naturally obtained and exhibits the original properties of the plant.

Breakup by Form:

• Concentrates
• Gels
• Drinks
• Powders
• Capsules
   

Aloe vera drinks dominate the global market as they contain antioxidants, which help fight free radicals and improve skin health.

Breakup by Application:

• Pharmaceutical Industry
• Cosmetic Industry
• Food Industry
   

The cosmetic industry presently accounts for the majority of the global aloe vera market share due to the increasing usage of aloe vera extracts in skin care products.

Breakup by Region:

• Thailand
• Mexico
• Dominican Republic
• United States
• Costa Rica
• Others
   

Thailand exhibits a clear dominance in the market due to the increasing utilization of aloe vera in various industries of the country.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.

Report Coverage: