Global Aloe Vera Market – Industry Trends and Forecast to 2029

Market Analysis and Size

The medicinal value of the aloe vera plant has gained popularity among health-conscious populations. A wide range of applications for aloe vera gel has prompted functional food and cosmetic companies to invest significantly in its business prospects. When applied topically, aloe vera gel has shown significant efficacy in treating a variety of skin conditions, including acne and pimples.

Data Bridge Market Research analyses that the aloe vera market was valued at USD 553.1 million in 2021 and is expected to reach the value of USD 1134.86 billion by 2029, at a CAGR of 9.40% during the forecast period of 2022 to 2029.

Market Definition

Aloe vera is well known for its restorative and healing properties. It has thick, succulent green leaves with gel and latex. The gel is primarily composed of water, with the remainder consisting of vitamins, enzymes, hormones, amino acids, minerals, and sugars, the majority of which are found in the human body. It is widely used in the cosmetic and toiletries, food, and pharmaceutical industries.

Report Scope and Market Segmentation

Aloe Vera Market Dynamics

Drivers

• Numerous benefits and applications offered by aloe vera

Aloe Vera has numerous benefits and is used in a variety of industries including food, beverages, cosmetics, pharmaceuticals, and so on. Numerous studies have also found Aloe Vera to be beneficial in a variety of conditions, including teeth and gum problems, constipation, diabetes-induced foot ulcers, antimicrobial properties, UV radiation protection, skin problems, and so on. Aside from its current applications, the benefits of Aloe Vera are being researched in a variety of other areas. This is expected to broaden the applications of Aloe Vera and open the door to the launch of several new products targeting newer indications.

• The growing acceptance of the aloe Vera by the population

Consumers all over the world are becoming more health-conscious as the prevalence of lifestyle-related diseases rises. As a result of this trend, consumers perceive products containing natural ingredients such as Aloe Vera to be safer and healthier than their processed or chemical alternatives. Another important factor driving the growth of the Aloe Vera market is the high level of consumer acceptance. Aloe Vera's history can be traced back to the Egyptian civilization. For several thousand years, consumers all over the world have been aware of its benefits and applications. As a result, manufacturers do not have to spend as much money educating consumers about its benefits and applications.

Opportunity

Advances in extraction techniques have enabled the use of aloe vera in its purest form. Furthermore, the use of better preservatives has allowed them to extend the shelf-life of their products in order to meet the expectations of their customers. A growing number of developing-country aloe vera gel producers have introduced products containing artificial sweeteners and fibre. This has fueled demand in recent years. Furthermore, personal care companies investing in the aloe vera market are avoiding the use of any synthetic ingredients to increase consumer appeal.

Restraints

Long-term consumption of aloe latex may result in heart problems, muscle weakness, weight loss, kidney problems, low potassium, diarrhoea, and blood in the urine, all of which may reduce demand for aloe vera.

This aloe vera market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the aloe vera market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on aloe vera Market

COVID-19 Pandemic is a worldwide pandemic that has affected many countries. It has wreaked havoc on the business and marketing fields. One of them was the global aloe vera market. The global market has come to a halt as a result of COVID-19 guidelines and lockdown implementations in various regions. The global market's growth had been stifled due to a lack of transportation and labour. As a result, both productivity and investors have suffered.

Recent Development

• April 20, 2021 – Veganic, a Dublin-based company, has announced plans to bring Ireland's 100% organic and 100% plant-based Aloe Vera fruit juices to US markets. According to company officials, they will be launching their 100 percent organic and plant-based Aloe Vera with Apple juice across the United States. Aloe vera fruit juices can be traced back to ancient Egypt, where it was known as the "plant of immortality."
• Veganic's aloe vera with apple juice is made from 100 percent organic Aloe Vera pulp and contains no added sugar or artificial ingredients. These juices are completely organic. According to the company, what distinguishes it from competitors is its commitment to developing only 100 percent organic and plant-based beverages with high-quality ingredients.

Global Aloe Vera Market Scope

The aloe vera market is segmented on the basis of type, form and end-use industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Aloe Vera Gel Extracts
• Aloe Vera Whole Leaf Extracts
• Others
• Decolorized Whole Leaf Extracts
• Dried aloe latex

Form

• Gels
• Powders
• Capsules
• Drinks
• Concentrates

End user

• Pharmaceuticals
• Food
• Cosmetics

Aloe Vera Market Regional Analysis/Insights

The aloe vera market is analysed and market size insights and trends are provided by country, of type, form and end-use industry as referenced above.

The countries covered in the aloe vera market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, Denmark, Sweden, Poland, Turkey, rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Japan, Thailand, Indonesia, New Zealand, Vietnam, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific, South Africa, Kuwait, Qatar, Oman, Saudi Arabia, U.A.E., and rest of the Middle East and Africa, Brazil, Argentina & rest of South America.

Asia-Pacific is a significant region, accounting for the largest share of the global market. Throughout the forecast period, it is expected to remain the dominant regional market. APAC's major revenue generators are China and India. The expanding pharmaceutical and cosmetic industries are the primary drivers of market growth in this region. Rising per capita income levels, combined with an expanding population, are expected to drive demand for skincare and cosmetic products. North America is expected to grow at the fastest rate during the forecast period due to the presence of a large number of major product manufacturers, particularly in the United States. The regional market is being driven by rising product usage for the treatment of cancer, diabetes, and other diseases.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Aloe Vera Market Share Analysis

The aloe vera market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to aloe vera market.

Some of the major players operating in the aloe vera market are:

• Aloe Vera HQ (Australia)
• Aloe Plus Lanzarote S.L (Spain)
• Lily of the Desert (US)
• NOW foods. (US)
• Forever Living.com, L.L.C. (US)
• Real Aloe Solutions Inc. (US)
• Patanjali Ayurved (India)
• Herbalife International of America, Inc. (US)
• Sarvliving (India)
• Green Leaf Naturals (US)
• Warren Laboratories LLC (US)
• Lakewood Inc (US) 
• The Bountiful Company (US)
• LR Health & Beauty (Germany)

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