The North America aloe vera market reached a value of US$ 53.3 Million in 2018. Aloe vera, also known as Barbadensis Miller, is a perennial plant of Liliaceae family with turgid green leaves that are attached to the stem in a rosette pattern. Aloe Vera (often called aloe) produces two substances, gel and latex, which are used for various applications. Its gel is colorless and jelly-like in appearance, which is obtained through the leaf of the plant. It is rich in antioxidants and offers attributes such as reducing constipation, improving skin, accelerating the healing of wounds, minimizing dental plaque and lowering blood sugar levels. As a result, it is used in industries including food, cosmetic, pharmaceutical and toiletries.
One of the pivotal factors which are strengthening the growth of the aloe vera market in North America is a rise in the consumer awareness about the health benefits associated with its gel and increase in its usage, especially in the food industry of the region. Moreover, various manufacturers of personal care products such as creams, lotions, soaps, shampoo and facial cleansers are employing aloe vera gel as an essential component to expand their consumer base. Besides this, numerous ointments, gels, tablets, capsules and other medical products in the pharmaceutical industry comprise aloe vera extracts. Looking forward, IMARC Group expects the market to reach a value of US$ 75.6 Million by 2024, registering a CAGR of around 6% during 2019-2024.
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IMARC Group’s latest report provides a deep insight into the North America aloe vera market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the North America aloe vera market in any manner.
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