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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
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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