USD 2.16 billion
Global Aloe Vera Extract Market Size, Share, Growth Analysis, By Product(Capsule or Tablet, Powder), By Application(Food, Pharmaceuticals), By Distribution Channel(Offline, Online) - Industry Forecast 2024-2031
Report ID:
SQMIG30L2213 |
Region:
Global |
Published Date: March, 2024
Pages:
198
|
Tables:
90 |
Figures:
76
Global Aloe Vera Extract Market Insights
Global Aloe Vera Extract Market size was valued at USD 2.16 billion in 2022 and is poised to grow from USD 2.42 billion in 2023 to USD 5.99 billion by 2031, growing at a CAGR of 12% during the forecast period (2024-2031).
The growing recognition of the medicinal benefits of aloe vera in addressing conditions such as diabetes and skin ailments has led to an upsurge in the demand for natural and organic beauty products, incorporating aloe vera extracts. Many companies are dedicating resources to research and development, launching inventive products to gain a competitive edge and enhance their worldwide presence. Presently, a notable trend within the market involves the expanding utilization of aloe vera extracts in sugar-free beverages, which is projected to widen the product's range of applications. Noteworthy markets for manufacturers include India, China, and the U.S., driven by an increasing consumer consciousness regarding adopting a healthier lifestyle.
Aloe Vera extracts find extensive use in addressing a variety of health concerns, encompassing skin conditions, hair loss, oral health, and even cancer. Escalating pollution levels alongside a busy way of life have contributed to a higher incidence of these health issues, providing impetus to market expansion. Additionally, the rising instances of diabetes are poised to create fresh opportunities for the sector, as a growing number of diabetic individuals are turning to herbal extracts for managing their condition.
Moreover, the increased integration of aloe vera products in medical facilities is also a factor projected to drive the global market's growth in the near future. Furthermore, the use of aloe vera in a diverse range of cosmetic items like tanning creams, lipsticks, stretch mark creams, moisturizers, and soaps is likely to contribute to rapid market expansion.
US Aloe Vera Extract Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Cosmetics
Fastest Growth
Cosmetics
Growth Rate
12% CAGR
Global Aloe Vera Extract Market ($ Bn)
Country Share for North America Region (%)
Global Aloe Vera Extract Market By Application ($ Bn)
Global Aloe Vera Extract Market By Application (%)
To get more reports on the above market click here to Buy The Report
Global Aloe Vera Extract Market Segmental Analysis
The global aloe vera extract market is segmented on the basis of product, application, distribution channel, region. By product, the market is segmented into capsules or tablet, powder, liquid, gels. By application, the market is segmented into food, pharmaceuticals, cosmetics. By distribution channel, the market is segmented into offline, online. By region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.
Aloe Vera Extract Market Analysis By Product
The liquid form of aloe vera products emerged as the dominant force within the market landscape, accounting for a substantial share of 63.82% of the overall market. This marked superiority is foreseen to extend its influence consistently over the envisaged period. Worth highlighting is the gels segment, which is projected to display a noteworthy CAGR of 8%. This growth trajectory finds its roots in the escalating awareness surrounding the significance of maintaining healthy skin, driving a notable surge in the adoption of skincare products enriched with herbal extracts. As a result, the gels segment stands poised to evolve and flourish.
Furthermore, the unique and inherent properties of aloe vera gel have positioned it as an effective remedy for mitigating the impact of sunburns and burn injuries. This inherent therapeutic capability adds impetus to the demand for products centered around aloe vera gel. This remarkable attribute is poised to function as a prime propellant for the expansion of the gels segment, as consumers increasingly seek natural remedies that offer tangible benefits.
Aloe Vera Extract Market Analysis By Application
The dominant player among these is the cosmetics segment, commanding a significant market share of 41.9% on a global scale. The driving force behind this segment's growth lies in the escalating integration of herbal extracts within cosmetic formulations, spanning skin, hair, and body care products. This trend aligns perfectly with the mounting consumer inclination towards products rooted in herbal and organic origins, thus underscoring the heightened demand within the cosmetics sector. Moreover, the surge in the elderly population and the surge in skin-related concerns further contribute to the robust expansion of this segment.
On a parallel note, the pharmaceutical sector is poised for notable advancement with an anticipated CAGR of 7.5%. This growth is substantiated by the escalating utilization of herbal products as therapeutic solutions for a diverse array of health conditions, including diabetes. The escalating prevalence of such herbal product usage within pharmaceutical contexts is anticipated to significantly spur demand within this segment. Moreover, the burgeoning awareness surrounding the adoption of healthier lifestyles is set to play a pivotal role in boosting the demand for aloe vera products within the pharmaceutical realm. This is particularly relevant given the wide-ranging utility of aloe vera juice, which is leveraged for weight management, enhancing immunity, and promoting improved digestion.
Global Aloe Vera Extract Market By Application, 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Aloe Vera Extract Market Regional Insights
The Asia Pacific region emerges as a prominent contender, securing a noteworthy 30.6% stake in the global market. This supremacy is projected to endure consistently throughout the envisaged forecast period. Notably, China and India stand out as pivotal revenue generators within the APAC context. The driving force behind this thriving market is the burgeoning pharmaceutical and cosmetic industries, which collectively steer the trajectory of market growth in this geographical zone. The confluence of increasing per capita income levels and a steadily expanding population augments the demand for skincare and cosmetic products, effectively contributing to the region's market dynamics. Remarkably, India has positioned itself as the world's fastest-growing cosmetics market, propelled by this very trend.
Furthermore, the surge in herbal product manufacturers, including renowned entities such as Patanjali, Dabur, and the Himalaya Drug Company, congregating within rural areas, exerts an additional impetus on product demand within the region.
Following the Asia Pacific's lead, North America emerged as the largest market. With an anticipated Compound Annual Growth Rate (CAGR) of 8.7% throughout the forecasted period, this region boasts a multitude of major product manufacturers, particularly concentrated in the United States. The elevated usage of aloe vera products for diverse applications, including addressing cancer and diabetes, notably drives the regional market dynamics.
Moreover, Europe emerges as another promising market, poised to experience substantial growth over the forecasted timeline. The escalating awareness concerning the prospective health advantages of aloe vera products is anticipated to underpin the heightened demand. In parallel, consumer preferences leaning towards natural and herbal cosmetics offer a fresh avenue of opportunity for the market to explore and expand.
Global Aloe Vera Extract Market By Geography, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Aloe Vera Extract Market Dynamics
Aloe Vera Extract Market Drivers
Growing Awareness of Health Benefits
- Increasing awareness about the health benefits of aloe vera extracts, such as its potential to treat skin issues, aid digestion, and manage diabetes, is driving consumer demand for aloe vera-based products.
Rising Demand for Natural and Organic Products
- The global shift towards natural and organic products in various industries, including cosmetics, pharmaceuticals, and food, is propelling the demand for aloe vera extracts due to their perceived health benefits and natural origins.
Expanding Cosmetic and Personal Care Industry
- The cosmetics and personal care industry's rapid growth, fueled by consumer demand for skincare, haircare, and body care products, is contributing to the increasing use of aloe vera extracts in various formulations.
Aloe Vera Extract Market Restraints
Limited Shelf Life
- Aloe vera extracts, being natural products, have a limited shelf life and can be prone to spoilage without proper preservation techniques, which can affect product quality and availability.
Quality Control Challenges
- Ensuring consistent quality and purity of aloe vera extracts can be challenging due to variations in aloe plants' species, growth conditions, and extraction methods.
Allergenic Potential
- Some individuals might be allergic to aloe vera, leading to skin irritation or other adverse reactions, which can impact consumer confidence and demand for products containing aloe vera extracts.
Request Free Customization of this report to help us to meet your business objectives.
Global Aloe Vera Extract Market Competitive Landscape
The competitive landscape of the global aloe vera extract market is characterized by intense rivalry among key players striving to secure their positions in a rapidly expanding industry. Established companies and new entrants alike are vying to capitalize on the growing demand for natural and organic products. Innovation and product differentiation stand as central strategies as market participants race to develop novel applications for aloe vera extracts in diverse industries such as cosmetics, pharmaceuticals, and food.
Companies are investing significantly in research and development to formulate advanced products that harness the potential health benefits of aloe vera extracts, catering to consumer preferences for holistic well-being. Additionally, strategic partnerships, mergers, and acquisitions are common, facilitating the expansion of market presence and the acquisition of complementary capabilities.
Aloe Vera Extract Market Top Player’s Company Profiles
- Lily of the Desert (United States)
- Aloe Farms (United States)
- Terry Laboratories (United States)
- Aloe Laboratories (United States)
- Forever Living Products (United States)
- Aloecorp (United States)
- Natural Aloe Costa Rica S.A. (Costa Rica)
- Pharmachem Laboratories (United States)
- Aloecorp Inc. (United States)
- Aloe Vera Australia (Australia)
- Aloe Vera Group (Spain)
- Aloe Vera of America, Inc. (United States)
- Foodchem International Corporation (China)
- Terry Laboratories LLC (United States)
- Cady Products LLC (United States)
- Herbalife International of America, Inc. (United States)
- NOW Health Group, Inc. (United States)
- Aloecorp Inc. (United States)
- Aloe Vera Iowa, LLC (United States)
- Aloin Corporation (United States)
Aloe Vera Extract Market Recent Developments
- On March 8 2023, Desert Harvest announced that it had received FDA approval for its aloe vera capsules to treat Interstitial Cystitis (IC), a chronic bladder ailment that affects about 12 million individuals.
- On February 25 2023, A brand-new line of organic aloe vera gel was introduced by organic cosmetics and personal care company Edens Garden.
- On January 20 2023, Forever Living Products, a global leader in aloe vera, announced the launch of its new line of aloe vera-based personal care products.
Global Aloe Vera Extract Key Market Trends
- Integration in Functional Foods and Beverages: Aloe vera extracts are being incorporated into functional foods and beverages like juices, smoothies, and energy drinks due to their potential health benefits, contributing to the diversification of product applications.
- Emergence of Aloe Vera Supplements: Aloe vera supplements, including capsules and powders, are gaining popularity as consumers seek convenient ways to incorporate aloe vera's health benefits into their daily routines.
- Focus on Sustainable Sourcing: As Ethical and sustainable sourcing practices for aloe vera are gaining traction as consumers prioritize environmentally responsible products, leading to certifications and transparency in supply chains.
Global Aloe Vera Extract Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global aloe vera extract market analysis, the global aloe vera extract market exhibits a robust trajectory driven by surging consumer awareness regarding the health benefits of aloe vera across various applications. The market's competitive landscape is marked by intense rivalry, with companies striving to innovate and differentiate their products to cater to evolving consumer preferences for natural and organic solutions. Strategic partnerships, mergers, and acquisitions are pivotal for expanding market presence and capabilities. Quality control, sustainable sourcing, and adherence to regulatory standards are paramount in maintaining consumer trust and product integrity. The industry's evolution is influenced by factors such as shifting consumer trends, advancements in extraction technologies, and regulatory dynamics.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.16 billion |
| Market size value in 2031 | USD 5.99 billion |
| Growth Rate | 12% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Aloe Vera Extract Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Aloe Vera Extract Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Aloe Vera Extract Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aloe Vera Extract Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Aloe Vera Extract Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Aloe Vera Extract Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Aloe Vera Extract Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
