Global Aloe Vera Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.98 Billion |
| Market Size (2029) | USD 2.77 Billion |
| CAGR (2024 - 2029) | 6.92 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Global Aloe Vera Market Analysis
The Global Aloe Vera Market size is estimated at USD 1.98 billion in 2024, and is expected to reach USD 2.77 billion by 2029, growing at a CAGR of 6.92% during the forecast period (2024-2029).
Aloe vera is a widely used ingredient in skincare and cosmetic products due to its hydrating and soothing properties, and is known for its various skincare and health benefits. It is widely used to treat sunburn, reduce acne, and has anti-inflammatory properties. Owing to this, the demand for aloe vera gel in skincare and personal care products is increasing. The demand for natural and organic products is increasing due to rising awareness about the possible side effects and harm that synthetic products are causing. Moreover, aloe vera offers various health benefits, such as aiding digestion, supporting the immune system, and providing anti-inflammatory properties. Due to its versatile applications, the use of aloe liquid is increasing in fruit juices, skincare products, and pharmaceuticals. As healthcare expenditure increases, the demand for aloe vera gel also grows. In 2022, according to the Organisation for Economic Co-operation and Development (OECD), the per capita health expenditure in the United States was USD 12,555.3, USD 8,049.1 in Switzerland, and USD 8,010.9 in Germany.
The beauty and personal care industry has significantly contributed to the growth of the aloe vera market and is expected to continue doing so in the near future. Brands like Himalaya, The Nature’s Co., Avon, and Patanjali are known for offering aloe vera-based products. Government regulatory bodies like the International Aloe Science Council play a crucial role in certifying growers, processors, and marketing companies to boost aloe vera production. Manufacturers are emphasizing the importance of consumers seeking aloe vera-based drinks, food products, and juices. Owing to this, they are providing aloe vera liquids to different food and beverage manufacturers and personal care manufacturers to cater to rising demand. For instance, Aloe Queen Inc. provides a range of liquid aloe vera concentrates that can be used in food and beverages, cosmetics, personal care products, and pharmaceutical applications. Thus, the rising awareness regarding the health benefits offered by aloe vera and novel product innovations drive the global market growth of aloe vera ingredients.
Global Aloe Vera Market Trends
Aloe Vera Gel as a Skincare Ingredient is Gaining Traction
Aloe vera’s rising demand in the skincare industry is attributed to a confluence of factors that cater to the evolving preferences of skincare-savvy consumers. From the clean beauty movement to its natural origin, skin-soothing properties, and global appeal, aloe vera is reshaping the skincare industry landscape. Also, aloe vera has anti-inflammatory, antiviral, antimicrobial, and antioxidant properties and can soothe itchy, irritated, and bumpy skin caused by an allergic reaction.
Skin sensitivity is on the rise. Factors such as stress, pollution, environmental stress, and lifestyle changes lead to irritated, red, and reactive skin, thus leading to the rising demand for skincare products containing aloe vera gel. It is an effective option for soothing, calming, and hydrating the skin. The rising incidence of skin-related diseases such as psoriasis, sunburn, eczema, and atopic dermatitis supports the growth of aloe vera in skincare products. According to the Ministry of Health, the number of psoriasis cases registered in Spain rose from 990.8 in 2021 to 1,034.2 in 2022. As aloe vera gel helps reduce redness and scaling in patients with psoriasis, as well as keeps the skin moisturized, the demand for the same is gaining traction globally. Aloe vera is renowned for its hydrating properties, as its gel-like texture is full of moisture, making it an excellent hydrator for the skin. It is packed with essential vitamins like vitamins A, C, and E and minerals, which help promote healthy and glowing skin.
Furthermore, aloe vera’s capacity to stimulate collagen production and enhance skin elasticity positions it as a key ingredient in anti-aging skincare products. It is highly valued for its ability to reduce the appearance of wrinkles, fine lines, and sagging skin, which is boosting the demand for aloe vera gels globally.
Food and Beverage Applications Hold a Major Market Share
Aloe vera is believed to have various health benefits, including its potential to aid digestion, boost the immune system, and provide essential vitamins and minerals. As people become more health-conscious, they seek products with perceived health benefits. Owing to this, the use of aloe vera extracts in food and beverage products is increasing. Consumer demand for healthy and functional food and beverage products is increasing owing to rising health concerns like obesity and cholesterol. Aloe vera helps lose weight and regulates blood flow upon regular consumption. Owing to this, market players are launching different aloe vera juices with fortified nutrients to provide health benefits. For instance, Patanjali Ayurveda provides aloe vera juice extracted from pulp extract.
Marketing and advertising of aloe vera as a superfood is increasing worldwide due to its multifunctionality and health benefits. Owing to this, the use of aloe vera in functional food and beverages is increasing among food manufacturers. Different functional food and beverage manufacturers, like Aloe Fruit, Kapiva, Forever Living, and Axiom Ayurveda, are using aloe vera extracts in their products. Consumers are increasingly scrutinizing product labels and opting for products with natural, organic, and clean-label ingredients, which in turn creates opportunities for ingredients like aloe vera in the food and beverage industry. Aloe vera has received approval from the FDA as a natural flavoring agent in food products.
Global Aloe Vera Industry Overview
The global aloe vera market is highly competitive due to multiple regional and multinational companies offering a wide range of products and trying to maintain their leadership position in the market studied. The key players in the market include Aloe Jaumave SA de CV, Aloe Queen Inc., Aloecorp., Agromayal Botánica SA de CV, Concentrated Aloe Corp., and Botanic Healthcare Private Limited. The market players are embarking on business strategies, including product innovations, partnerships, strengthening their hold over offline distribution channels, and mergers & acquisitions to expand their visibility and portfolio of offerings, thus augmenting the growth of the market. Leading companies are also taking necessary measures to increase their business operations in terms of geography and production capacity to boost sales and enhance their brand presence.
Global Aloe Vera Market Leaders
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Aloecorp
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Concentrated Aloe Corp
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Aloe Jaumave SA de Cv
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Botanic Healthcare Private Limited
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Terry Laboratories LLC
*Disclaimer: Major Players sorted in no particular order
Global Aloe Vera Market News
- April 2023: Concentrated Aloe Corporation (CAC) partnered with Eurosyn SpA, one of the suppliers of specialty chemicals in Italy. Through this collaboration, Eurosyn was delegated to distribute CAC's products, including aloe vera, in the Italian Eurosyn market to expand its market presence while providing CAC with a reliable presence in the territory.
- April 2023: Agromayal Botánica SA de CV expanded its product capabilities to other industrial solutions using aloe vera as a base and with a blend of plant-based biopolymers, hydrocolloids, natural gums, and other ingredients.
- January 2023: Botanical Healthcare, an aloe vera extract manufacturer, expanded its operations across India into a new city, Bangalore. The company launched its operations in the city and carried out sales through the branch in Bangalore.
Global Aloe Vera Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Aloe Vera Gaining Popularity for Therapeutic and Medicinal Use
4.1.2 Aloe Vera: The Skincare Ingredient of the Moment
4.2 Market Restraints
4.2.1 Rising Concerns Related to Allergies and Sensitivity to Aloe Vera
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Form
5.1.1 Gel
5.1.2 Liquid
5.1.3 Powder
5.2 Application
5.2.1 Food and Beverages
5.2.2 Cosmetics and Personal Care
5.2.3 Pharmaceuticals
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 Spain
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 Australia
5.3.3.4 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Aloe Jaumave SA De Cv
6.3.2 Aloe Queen Inc.
6.3.3 Aloecorp
6.3.4 Agromayal Botanica SA De CV
6.3.5 Green Earth Products Pvt. Ltd
6.3.6 Terry Laboratories LLC
6.3.7 Aos Products Private Limited
6.3.8 Concentrated Aloe Corp.
6.3.9 Botanic Healthcare Private Limited
6.3.10 Natural and Organic Farms Mexico SA De CV
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Global Aloe Vera Industry Segmentation
Aloe vera is a succulent plant species known for its thick, fleshy leaves that contain a gel. It is a medicinal plant with antioxidant and antibacterial properties.
The global aloe vera market is segmented by form, application, and geography. By form, the market is segmented into gel, liquid, and powder. By application, the market is segmented into food and beverages, cosmetics and personal care, and pharmaceuticals. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. For each segment, the market sizes and forecasts are provided based on the value (USD).
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| Gel | |
| Liquid | |
| Powder |
| Application | |
| Food and Beverages | |
| Cosmetics and Personal Care | |
| Pharmaceuticals |
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Global Aloe Vera Market Research FAQs
How big is the Global Aloe Vera Market?
The Global Aloe Vera Market size is expected to reach USD 1.98 billion in 2024 and grow at a CAGR of 6.92% to reach USD 2.77 billion by 2029.
What is the current Global Aloe Vera Market size?
In 2024, the Global Aloe Vera Market size is expected to reach USD 1.98 billion.
Who are the key players in Global Aloe Vera Market?
Aloecorp, Concentrated Aloe Corp, Aloe Jaumave SA de Cv, Botanic Healthcare Private Limited and Terry Laboratories LLC are the major companies operating in the Global Aloe Vera Market.
Which is the fastest growing region in Global Aloe Vera Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Aloe Vera Market?
In 2024, the North America accounts for the largest market share in Global Aloe Vera Market.
What years does this Global Aloe Vera Market cover, and what was the market size in 2023?
In 2023, the Global Aloe Vera Market size was estimated at USD 1.84 billion. The report covers the Global Aloe Vera Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Aloe Vera Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global Aloe Vera Industry Report
Statistics for the 2024 Global Aloe Vera market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Aloe Vera analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
