Global Aloe Vera Market to Reach US$ 1,500 Million by 2032, Stimulated by Increasing Adoption in Skincare Products

August 23, 2023 | Food & Beverages

According to the latest report by IMARC Group, titled “Aloe Vera Market Report by Product (Aloe Vera Gel Extract, Aloe Vera Whole Leaf Extract, and Others), Form (Concentrates, Gels, Drinks, Powders, Capsules), Application (Pharmaceutical Industry, Cosmetic Industry, Food Industry), and Region 2024-2032,” the global aloe vera market size reached US$ 830 Million in 2023. Aloe vera is a succulent plant species that has a gel-like substance within its fleshy leaves. It is rich in vitamins, minerals, enzymes, polysaccharides, and amino acids, that are used in a wide range of applications. It has enhanced healing, soothing, and moisturizing properties, which makes it a valuable ingredient in various industries. It offers hydrating and anti-inflammatory characteristics that provide relief from dryness and irritation while nourishing and rejuvenating the skin. It benefits in reducing the appearance of fine lines and wrinkles and promoting a youthful and radiant complexion. Besides this, it assists in treating various skin conditions, such as burns, wounds, and skin irritations among individuals. As it aids in alleviating discomfort and redness associated with sunburns, the demand for aloe vera is increasing across the globe.

Global Aloe Vera Market Trends:

At present, the rising utilization of aloe vera in skincare products, such as moisturizers, sunscreens, lotions, and creams, represents one of the major factors supporting the market growth. Apart from this, the increasing focus on improving skin texture and promoting a healthy complexion is offering lucrative growth opportunities to industry investors. Moreover, the increasing number of health-conscious consumers across the globe is strengthening the growth of the market. Additionally, the growing demand for healthy drinks and supplements that support digestive health and boost the immune system of individuals is offering a positive market outlook. Furthermore, the rising awareness and preference for natural and organic products among consumers are bolstering the growth of the market. In addition, the increasing demand for herbal supplements and nutraceuticals among the masses around the world is contributing to the growth of the market. Looking forward, the market value is projected to reach US$ 1,500 Million by 2032, expanding at a CAGR of 6.5% during 2024-2032.

Market Summary:

  • Based on the product, the market has been segregated into aloe vera gel extract, aloe vera whole leaf extract, and others. At present, aloe vera whole leaf extract holds the largest market share.
  • On the basis of the form, the market has been classified into concentrates, gels, drinks, powders, and capsules. Presently, drinks dominate the market, accounting for the largest share.
  • Based on the application, the market has been divided into pharmaceutical industry, cosmetic industry, and food industry. Cosmetic industry currently represents the biggest market share.
  • Region-wise, the market has been segmented into Thailand, Mexico, Dominican Republic, United States, Costa Rica, and Others. Amongst these, Thailand enjoys the leading position in the market.
  • The competitive landscape of the market has also been examined.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units Million Tons, US$ Million
Segment Coverage Product, Form, Application, Country
Countries Covered  Thailand, Mexico, Dominican Republic, United States, Costa Rica, Others
Customization Scope 10% Free Customization
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Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Aloe Vera Market to Reach US$ 1,500 Million by 2032, Stimulated by Increasing Adoption in Skincare Products
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