According to the latest report by IMARC Group, titled “Aloe Vera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global Aloe Vera market size reached US$ 594 Million in 2019. Also known as Aloe barbadensis miller, aloe vera is a succulent plant that belongs to the Asphodelaceae (Liliaceae) family. It has an outer layer of 15-20 cells, which helps protect the plant and synthesize proteins as well as carbohydrates. Its leaves comprise a clear gel with 99% water while the remaining is made up of lipids, sterols, vitamins, amino acids and glucomannans. Aloe vera contains active constituents, such as vitamins, enzymes, minerals, and fatty acids. It has anti-inflammatory and therapeutic properties, as well as accelerates wound contraction and increases the breaking strength of the resulting scar tissue. As a result, it is commonly used in the food, personal care and pharmaceutical industries across the globe.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Aloe Vera Market Trends:
Aloe vera is utilized in the production of personal care products, such as face wash, toners, face packs, anti-aging creams and body lotions, as it offers anti-aging and moisturizing benefits. It is also used in shampoos, conditioners, and hair packs and serums as it assists in conditioning the hair, promoting hair growth, removing dandruff and maintaining the pH level of the scalp. Apart from this, aloe vera provides health benefits, such as reducing inflammation and cholesterol levels, easing acid reflux and reducing periodontal diseases, regulating blood sugar level, improving digestion, and treating hemorrhoids and acne. Consequently, it is employed in the manufacturing of numerous nutraceutical products worldwide. However, due to the sudden outbreak of the coronavirus disease (COVID-19), lockdowns have been imposed by governments of numerous countries. This has resulted in the temporary shutdown of various manufacturing units, which is negatively influencing the market. Looking forward, the market value is projected to grow at a CAGR of 8.40% during the forecast period (2020-2025).
- Based on the product, the market has been segmented into aloe vera gel, whole leaf and other extracts.
- On the basis of the form, the market has been segregated into concentrates, gels, drinks, powders and capsules.
- The market has been analyzed on the basis of the application into the pharmaceutical, cosmetics and food industries.
- Region-wise, the market has been classified into the United States, Thailand, Mexico, Dominican Republic, Costa Rica and others.
- The competitive landscape of the market has been examined in the report, along with the detailed profiles of the major players operating in the industry.
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