The global Aloe Vera market reached a value of US$ 552 Million in 2018. The market value is further expected to reach US$ 915 Million by 2024, exhibiting a CAGR of 8.8% during 2019-2024. 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 2019-2024” 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.
Global Aloe Vera Market Drivers
- Aloe Vera has numerous benefits and finds its application in numerous industries such as food, beverages, cosmetics, pharmaceuticals, etc. Numerous studies have also found Aloe Vera to be beneficial in several indications such as teeth and gum problems, constipation, diabetes induced foot ulcers, antimicrobial properties, protection from UV radiation, skin problems, etc. Apart from the current uses, the benefits of Aloe Vera are also being studied in a number of several other indications. This is expected to further diversify the applications of Aloe Vera and create opportunities to launch several new products targeting newer indications.
- As a result of a rising prevalence of lifestyle related diseases, consumers around the world are becoming more conscious of their health. Driven by this trend, the demand of products containing natural ingredients such as Aloe Vera are being perceived by consumers to be safer and healthier than their processed or chemical alternatives. This coupled by the numerous health benefits of Aloe Vera is expected to create a positive impact on its global demand.
- Another major factor driving the growth of the Aloe Vera market is its strong consumer acceptance. The history of Aloe Vera can be traced as far as the Egyptian civilization. Consumers all across the world have been aware of its benefits and applications for several thousand years. As a result, manufacturers don’t have to spend vast amounts of money in educating consumers on its benefits and applications.
- Although the demand of Aloe Vera is strong throughout the globe, growth rates in emerging markets such as India, China, Middle East, etc. are expected to be extremely high. Driven by rising economic growth, increasing disposable incomes and low market penetration levels, emerging markets are expected to represent major drivers of future growth.
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:
- How has the Aloe Vera market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global Aloe Vera industry?
- Which are the key application areas for Aloe Vera ?
- What are the price trends of Aloe Vera?
- What are the various stages in the value chain of the Aloe Vera industry?
- What are the key driving factors and challenges in the Aloe Vera industry?
- What is the structure of the Aloe Vera industry and who are the key players?
- What is the degree of competition in the Aloe Vera industry?
- What are the profit margins in the Aloe Vera industry?
- What are the key requirements for setting up an Aloe Vera gel manufacturing plant?
- How is Aloe Vera gel manufactured?
- What are the various unit operations involved in an Aloe Vera gel manufacturing plant?
- What is the total size of land required for setting up an Aloe Vera gel manufacturing plant?
- What are the machinery requirements for setting up an Aloe Vera gel manufacturing plant?
- What are the raw material requirements for setting up an Aloe Vera gel manufacturing plant?
- What are the packaging requirements for Aloe Vera gel?
- What are the transportation requirements for Aloe Vera gel?
- What are the utility requirements for setting up an Aloe Vera gel manufacturing plant?
- What are the manpower requirements for setting up an Aloe Vera gel manufacturing plant?
- What are the infrastructure costs for setting up an Aloe Vera gel manufacturing plant?
- What are the capital costs for setting up an Aloe Vera gel manufacturing plant?
- What are the operating costs for setting up an Aloe Vera gel manufacturing plant?
- What will be the income and expenditures for an Aloe Vera gel manufacturing plant?
- What is the time required to break-even?