The latest report by IMARC Group, titled “Aloe Vera Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global aloe vera market reached US$ 710 Million in 2021. Aloe vera, also known as aloe barbadensis miller, is a shrubby and succulent plant that belongs to the Asphodelaceae (Liliaceae) family. It reduces the severity of gastroesophageal reflux disease (GERD), which is a digestive disorder. It also helps fruits and vegetables stay fresh and eliminates the use of dangerous chemicals that extend the shelf life of produce. In addition, it provides relief from bleeding or swollen gums due to the presence of vitamin C, which can block plaque. Apart from this, aloe vera assists in treating type 2 diabetes by lowering blood sugar levels in the body.
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:
The growing awareness among the masses about the medicinal benefits of aloe vera represents one of the key factors driving the market. Moreover, there is a rise in the demand for natural and organic cosmetics as they do not contain any harmful ingredients. This, along with the increasing utilization of aloe vera in the production of products, such as facial creams, moisturizers, anti-aging products, face washes, and sunscreens, is propelling the growth of the market. Additionally, aloe vera extracts are widely used to treat health issues, such as skin problems, hair loss, gum diseases, and cancer. They are also used as an instant relief from different burn problems, such as burns from a fire, chemical injuries, and sun exposure, which is positively influencing the market. Besides this, the increasing usage of aloe vera in the pharmaceutical industry to manufacture ointments, gels, tablets, capsules, and other medical products is contributing to the growth of the market. Additionally, the rising employment of aloe vera in sugar-free drinks is bolstering the growth of the market. Looking forward, IMARC Group expects the market to reach US$ 1,120 Million by 2027, exhibiting a CAGR of 7.8% during the forecast period (2022-2027).
- Based on the product, the market has been classified into aloe vera gel, whole leaf and other extracts.
- On the basis of the form, the market has been bifurcated into concentrates, gels, drinks, powders and capsules.
- Based on the application, the market has been segmented into the pharmaceutical, cosmetics and food industries.
- Region-wise, the market has been divided 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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