Global Aloe Vera Market Report and Forecast 2024-2032

Global Aloe Vera Market Outlook

The global aloe vera market size reached approximately USD 768.93 million in 2023. The market is projected to grow at a CAGR of 8.5% between 2024 and 2032, reaching a value of around USD 1,602.76 million by 2032.

Key Takeaways

• Manufacturers in the food and beverage sectors are readily launching products containing aloe vera such as tea and juices.

• Thailand represents the leading producer of aloe vera, holding more than a third of the total global production.

• There is a growing trend towards sustainable and organic farming practices in the cultivation of aloe vera.

Aloe vera is widely known for its healing and restorative properties and has thick and succulent green leaves that contain gel and latex. The gel comprises primarily of water, and the rest includes various vitamins, enzymes, hormones, amino acids, minerals, and sugars, the majority of which are found in the human body. It is an extensively used product in the cosmetics and toiletries, food, and pharmaceutical sectors.

The aloe vera market growth is driven by the therapeutic properties of the product, due to which the product is used in various end-use sectors, including food and beverages, cosmetics, and pharmaceuticals. The product is employed in the healthcare sector in the production of different products, such as tonics, capsules, tablets, salves, and supplements and is used by several people to treat wounds and various skin ailments at home. It has also demonstrated promising results in the treatment of psoriasis, sugar levels, lowering LDL, and increasing HDL. In the cosmetic sector, the plant offers several applications in organic and herbal products, further enhancing aloe vera market growth. The product is an essential ingredient in hair tonics, hair masks, conditioners, eyeliners, sunblocks, shampoos, etc.

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Key Trends and Developments

Growing preference for natural and organic ingredients; cultural acceptance and traditional use; innovations in aloe vera processing and product development; are the major trends impacting the aloe vera market expansion

September 12th, 2023

Dettol, a leading brand in the antiseptic soap category, introduced Dettol Aloe Vera soap, infused with the soothing properties of aloe vera to keep skin safe from germs.

January 4th, 2023

The Directorate of Indian Medicine and Homeopathy, based in India, announced its plans to launch herbal-based cosmetic products at prices more affordable than those available in the market.

March 30th, 2022

Clensta International, a start-up based in Gurgaon, India, unveiled its range of ten skincare products featuring red aloe vera.

July 13th, 2022

Organic Harvest, a brand specialising in organic beauty and personal care, launched a new collection of organic aloe vera gel, available in four distinct variants.

Growing preference for natural and organic ingredients

Consumers increasingly prefer products with natural and organic ingredients over synthetic ones, positioning aloe vera as a desirable component across various end-use sectors.

Cultural acceptance and traditional use

In many cultures, aloe vera has been traditionally used for its medicinal properties, and this cultural acceptance supports its sustained demand.

Innovations in aloe vera processing and product development

Technological advancements in processing methods have made it easier to incorporate aloe vera into various products, enhancing its appeal and expanding its range of applications.

Supportive government initiatives and investments

In some regions, government initiatives and investments in aloe vera cultivation and research are promoting the sustainable growth of the market.

Aloe Vera Market Trends

Technological advancements in processing methods have significantly impacted the aloe vera market by facilitating the extraction and stabilisation of aloe vera, thereby expanding its range of applications. Modern processing technologies allow for the preservation of aloe vera's beneficial properties, such as its vitamins, enzymes, minerals, and amino acids, during extraction and production. This means that the aloe vera used in products is of higher quality and efficacy, making it more appealing to consumers looking for effective natural products.

New market players are expanding their product portfolio and promoting aloe vera market development by incorporating aloe vera in their products. Dettol, a well-known brand in the antiseptic soap category, announced in September 2023 that it has expanded its product line by introducing a new variant of soap called Dettol Aloe Vera. The addition of aloe vera to the soap aims to provide extra care for the skin while still offering the germ-protection qualities that Dettol is known for.

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Market Segmentation

“Aloe Vera Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Aloe Vera Gel Extract

• Aloe Vera Whole Leaf Extract

• Others

Market Breakup by Form

• Concentrates

• Gels

• Drinks

• Powders

• Capsules

Market Breakup by End Use

• Pharmaceutical Industry

• Cosmetic Industry

• Food Industry

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

The aloe vera gel extract occupies a major aloe vera market share due to its rising usage in multiple end-use sectors such as skincare and haircare

The aloe vera gel extract accounts for a significant market share. The gel extract segment is particularly driven by its widespread use in skincare, haircare, and healthcare products, attributed to its soothing, anti-inflammatory, and moisturising properties. This has led to its growing incorporation into natural and organic cosmetic and personal care products, reflecting increasing consumer awareness of aloe vera's health benefits. There is also an increasing consumer awareness about the health benefits of aloe vera gel, including its potential to boost hydration, support digestive health, and provide essential vitamins and minerals. This awareness is propelling its inclusion in dietary supplements and health products.

The whole leaf extract segment also occupies a significant share of the aloe vera market due to its demand in the healthcare and wellness sector, along with the wide range of bioactive compounds it contains, such as vitamins, minerals, and antioxidants. These compounds contribute to various health-promoting effects, making whole leaf extract appealing for its potential to support immune health, digestion, and overall well-being. Furthermore, the pharmaceutical sector’s interest in aloe vera for therapeutic properties exploration has bolstered the demand for whole leaf extract.

The cosmetic sector maintains its dominance in the market due to the rising incorporation of organic ingredients in cosmetic products

The cosmetic sector represents the largest segment in the aloe vera market. The demand here is driven by the increasing consumer focus on personal grooming and appearance, alongside a growing preference for natural and organic ingredients like aloe vera. Aloe vera is valued in the cosmetic sector for its soothing, moisturising, and healing properties, making it a popular choice for skincare products, such as moisturisers, serums, and masks, as well as hair care products. The trend towards clean beauty and the use of social media and influencer marketing to promote the benefits of aloe vera have further boosted its demand in cosmetics.

The pharmaceutical sector is anticipated to witness robust growth in the aloe vera market in the coming years. The pharmaceutical sector is a significant consumer of aloe vera, particularly for its therapeutic properties. Aloe vera is used in the formulation of various medical and healthcare products, including ointments for skin conditions, supplements for digestive health, and treatments for minor burns and wounds. The sector’s interest in natural and holistic remedies has seen a rise in the exploration of aloe vera's potential, including its anti-inflammatory, antibacterial, and antiviral properties. The growing focus on personalised medicine and biopharmaceuticals has also highlighted the use of natural ingredients like aloe vera in drug development.

Competitive Landscape

Market players in the aloe vera products market are focusing on expanding their product ranges to include wellness and personal care items and are establishing collaborations with suppliers and strategic partnerships with distributors to enhance their market presence.

Aloe Farms, Inc. based in Harlingen, Texas, has been specialising in the growth, processing, and delivery of Aloe Vera products and offers products, including aloe vera gel and juice.

Aloe Laboratories located in Harlingen, Texas, is known for its variety of aloe vera juices, nopal juices, concentrates, and personal care cosmetics.

Ashland Global Holdings Inc. is a leading speciality chemicals company that has been actively diversifying and expanding its business across various sectors.

Herbalife International of America, Inc. is a global multi-level marketing corporation known for its dietary supplements and offers a range of products aimed at weight management and energy and fitness enhancement.

Other players in the market include Terry Laboratories and Aloecorp., among others.

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Aloe Vera Market Analysis by Region

The Asia Pacific represents the largest consumer of the product, accounting for the majority of the total global consumption. This demand is driven by the rising popularity of natural skincare and home remedies, with aloe vera extract being a key component in DIY beauty and health recipes. The growing environmental concerns have also led to an increased demand for products manufactured and supplied ethically, including aloe vera extracts sourced from responsible farming and eco-friendly extraction techniques. In addition to these factors, the Asia Pacific region is experiencing a surge in the demand for functional foods and beverages, driven by a growing awareness among young consumers about fitness and health. This has led to an increased preference for energy drinks, nutritional supplements, and functional foods, with aloe vera being an integral part of this trend.

The aloe vera market in North America is expected to witness an upward trajectory in the coming years. The use of aloe vera gel as a critical component in personal care products like creams, lotions, soaps, shampoos, and facial cleansers is expanding in the region. The pharmaceutical sector also incorporates aloe vera extracts in various ointments, gels, tablets, and capsules due to their therapeutic properties.

Key Highlights of the Report

Aloe Vera Market Report Snapshots

Aloe Vera Market Size

Aloe Vera Market Trends

Aloe Vera Market Regional Analysis

Aloe Vera Companies