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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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