Aloe Vera Market Report | CAGR of 6.5% during 2024-2032

Written by James  »  Updated on: July 10th, 2024

Aloe Vera Market Report | CAGR of 6.5% during 2024-2032

IMARC Group has recently released a new research study titled “Aloe Vera Market Report by Product (Aloe Vera Gel Extract, Aloe Vera Whole Leaf Extract, and Others), Form (Concentrates, Gels, Drinks, Powders, Capsules), Application (Pharmaceutical Industry, Cosmetic Industry, Food Industry), and Region 2024-2032: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

The global aloe vera market size reached US$ 830 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,500 Million by 2032, exhibiting a growth rate (CAGR) of 6.5% during 2024-2032. Rising demand for natural and organic ingredients in cosmetics, escalating awareness regarding the therapeutic properties of aloe vera, expansion of e-commerce platforms, the implementation of various government initiatives promoting natural ingredients, increasing disposable incomes, advancements in processing technologies, and collaborations among industry players are accelerating the market growth the market growth.

Global Aloe Vera Market Trends:

The growing use of aloe vera in the food and beverage (F&B) sector, notably in functional foods and dietary supplements, is driving market expansion due to its ability to improve digestive health and promote overall well-being. In line with this, the growing use of aloe vera in veterinary medicine for its therapeutic capabilities to treat various ailments in pets and animals is bolstering the market growth. Furthermore, the surging use of sustainable agricultural techniques in aloe vera cultivation, as customers value sustainability and eco-consciousness, is presenting lucrative opportunities for market expansion.

Factors Affecting the Growth of the Aloe Vera Industry:

Health and wellness trends: Aloe vera has been used in traditional medicine for ages for its numerous health benefits. The rise in health and wellness awareness among people throughout the world has contributed considerably to the rising demand for aloe vera products. Natural cures and vitamins are becoming increasingly popular among consumers to preserve their health and well-being, and aloe vera fits right in. The plant is recognized for its anti-inflammatory, antioxidant, and immune-boosting characteristics, making it a popular option among health-conscious people. Aloe vera juices, supplements, and health beverages have gained popularity as consumers strive to include more natural and holistic techniques into their wellness regimens.

Cosmetic and personal care industry demands: Aloe vera is a versatile component commonly utilized in the beauty and personal care sector. Its calming and hydrating characteristics make it an excellent ingredient in skin and hair care products. Aloe vera gel is widely used in moisturizers, lotions, face masks, shampoos, and conditioners because of its ability to hydrate and nourish the skin and hair. With an increased emphasis on natural and organic components in beauty products, aloe vera has emerged as a significant ingredient for many manufacturers seeking to appeal to ecologically and health-conscious customers, consequently contributing to market growth.

The rising demand from the pharmaceutical sector: Aloe vera's therapeutic characteristics make it a popular ingredient in the pharmaceutical business. The plant includes a variety of bioactive substances, including polysaccharides, vitamins, minerals, and amino acids, which contribute to its medicinal value. Aloe vera is used in pharmaceutical formulations because of its anti-inflammatory, wound-healing, and analgesic qualities. It is frequently used in topical ointments, gels, and creams to treat minor burns, wounds, and skin irritations. Furthermore, researchers are investigating aloe vera's possible health advantages, such as its involvement in digestive health, diabetes control, and immunological function. As the pharmaceutical business continues to innovate and develop new medical treatments and cures, aloe vera is becoming increasingly popular.

Aloe Vera Market Report Segmentation:

By Product:

  • Aloe Vera Gel Extract
  • Aloe Vera Whole Leaf Extract
  • Others

Aloe vera whole leaf extract is the most widely used product due to its adaptability across sectors.

By Form:

  • Concentrates
  • Gels
  • Drinks
  • Powders
  • Capsules

Drinks dominate the industry due to consumers' rising desire for natural and functional beverages.

By Application:

  • Pharmaceutical Industry
  • Cosmetic Industry
  • Food Industry

The cosmetic industry accounts for the majority of the market share, driven by increased demand for natural and organic components in skincare and hair care products.

Regional Insights:

  • Thailand
  • Mexico
  • Dominican Republic
  • United States
  • Costa Rica
  • Others

Thailand leads the market due to its favorable environment and existing experience in processing and product development.

Key Highlights of the Report:

  • Market Performance (2018-2023)
  • Market Outlook (2024-2032)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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