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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Aloe Vera Market Size
The global aloe vera market 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.
Aloe Vera Market Report Snapshots
Aloe Vera Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global aloe vera market attained a value of nearly USD 768.93 million.
In the forecast period of 2024-2032, the market is projected to grow at a CAGR of 8.5%.
By 2032, the market is estimated to reach a value of about USD 1,602.76 million.
The major market drivers include rising disposable incomes, increasing health consciousness, and the increasing use of aloe vera in diverse products across major end-use sectors.
The key trends guiding the market include the launches of new products, the growing awareness regarding the benefits of aloe vera, and the rising demand for organic products.
The leading regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various products of aloe vera considered in the market report are aloe vera gel extract and aloe vera whole leaf extract, among others.
The significant forms of aloe vera in the market are concentrates, gels, drinks, powders, and capsules.
The leading end-use industries for the product are pharmaceutical industry, cosmetic industry, and food industry.
The major players in the market are Aloe Farms, Inc., Aloe Laboratories, Terry Laboratories, Aloecorp., Ashland Global Holdings Inc., and Herbalife International of America, Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124