Global Aloe Vera Extract Market Insights Forecasts to 2033

• The Global Aloe Vera Extract Market Size was Valued at USD 3.35 Billion in 2023
• The Market Size is growing at a CAGR of 7.63% from 2023 to 2033.
• The Worldwide Aloe Vera Extract Market is expected to Reach USD 7.3 Billion by 2033
• Asia-Pacific Market is expected to grow the fastest during the forecast period.

The Global Aloe Vera Extract Market Size is expected to reach USD 7.3 Billion by 2033, at a CAGR of 7.63% during the forecast period 2023 to 2033

Aloe vera is a succulent plant species of the genus Aloe that is widely distributed and considered an invasive species in many world regions. The thick-fleshy leaves of aloe vera contain various phytochemicals such as lignans, phytosterols, polyphenols, acetylated mannans, polymannans, anthraquinones C-glycosides, anthrones, and other anthraquinones, such as emodin and various lectins. Anti-inflammation, immunity boosting, and skin care are some of the common beneficiary effects of aloe vera. Commercial products of aloe vera contain clear gel and its yellow latex that has wide application as a topical medication, for skin burns, wounds, frostbite, rashes, psoriasis, cold sores, or dry skin. The aloe latex in the form of resin or dried juices utilize for relief of constipation. Functional foods for the preparation of health drinks and food products including milk, ice cream, confectionery, etc. also used as flavoring components and preservatives in some food products. Aloe vera extraction products are available in the form of powders, gels, capsules, drinks, and concentrates. In cosmetic products such as shampoo and lotion, aloe vera has been used. The growing awareness about the medicinal properties of aloe vera and its application in personal care products and its usage as an ingredient in food and beverages products led to the enhancement the global aloe vera extract market. Additionally, regulatory bodies are encouraging the utilization of aloe vera extracts in a wide range of products including dietary supplements, skincare products, and beverages.

Report Coverage

This research report categorizes the market for global aloe vera extract market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global aloe vera extract market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the global aloe vera extract market.

Driving Factors

Aloe vera has various medicinal properties that lead to increasing demand for aloe vera in the healthcare sector. It has remedial effects for health disorders related to skin and hair, treat diabetes and dental care treatment. The increasing prevalence of health disorders, anticipating the market growth of aloe vera. In addition, aloe vera is used as a hydrating ingredient in various natural and organic products. Consumer inclination towards personal grooming has led to an increase in the application of aloe vera extract in the skincare and cosmetic industry.

Restraining Factors        

The rising safety concerns among the consumers in the market and the revealing clinical adverse effects and carcinogenic effects of aloe vera are likely to hamper the market growth. Considering these factors are expected to hinder the market growth of aloe vera extract.

Market Segmentation

The Global Aloe Vera Extract Market share is classified into Product form, Distribution Channel, Application, and Regional insights.

By Product Form Insights

The liquid segment dominates the market with the largest revenue share over the forecast period.

On the basis of product form, the aloe vera extract market is segmented into liquid, gel, powder, and others. Among these, the liquid segment is dominating the market with the largest revenue share over the forecast period. It was found that the liquid form of products is the most commonly used commercially accessible product in the market. The aloe vera liquid extract has beneficiary effects on teeth and gum problems, constipation, diabetes, ulcers, protest and UV irradiation, and other skin problems.   

By Application Insights

The cosmetic segment is witnessing significant CAGR growth over the forecast period.

On the basis of application, the global aloe vera extract market is segmented into food & beverages, cosmetics, and pharmaceuticals. Among these, the cosmetic segment is witnessing significant growth over the forecast period. The utilization of aloe vera in various cosmetic products influences market growth. In addition, the utilization of aloe vera as a medicinal ingredients in personal care products prompted the demand for aloe vera-based cosmetic products.

By Distribution Channel Insights

The offline segment is witnessing significant CAGR growth over the forecast period.

On the basis of distribution, the global aloe vera extract market is segmented into online and offline. Among these, the offline is witnessing significant growth over the forecast period. The ease of accessibility of aloe vera extract-based products in convenience stores, hypermarkets/supermarkets, and specialty stores is expected to increase the market share in the offline segment than the online segment.  

Regional Insights

Europe dominates the market with the largest market share over the forecast period.

Europe is dominating the market with the largest market share over the forecast period. European consumers are inclined towards the consumption of healthy supplement and are shifting towards natural and organic products to enhance their health and wellness as well as treatment and prevention of diseases. Thus, companies are seeking aloe vera as a natural organic ingredient to indulge in their products in order to enhance their product market. Thus, increasing demand for aloe vera extract surged to increase the aloe vera extract market in the region.   

Asia-Pacific is expected to grow the fastest during the forecast period. The growing industrial application of aloe vera extract in developing countries such as India and China is expected to increase the market growth. The increasing number of herbal product manufacturers such as Patanjali, Dabur, and Himalaya companies, fueling the aloe vera market in the region.  

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global aloe vera extract market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market

List of Key Market Players

• Aloe Laboratories, Inc.
• Aloe Farms Inc.
• Terry Laboratories Inc.
• Pharmachem Laboratories Inc.
• Aloecorp Inc.
• Lily of the Desert Organic
• Foodchem International Corporation
• Natural Aloe Costa Rica S.A.
• Calmino Group AB
• Roche
• Aloe Queen Inc.
• Patanjali Ayurved Ltd.
• Okyalo Co., Ltd
• Real Aloe Solutions Inc.
• Others

Recent Developments

• In April 2021, Veganic, a Dublin-based company, recently revealed plans to introduce Ireland's 100% organic and plant-based Aloe Vera fruit juices to US markets. According to company officials, they will launch their 100% organic and plant-based Aloe Vera with Apple juice in the United States. Aloe vera fruit juices date back to ancient Egypt, where it was known as the "plant of immortality."

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global aloe vera Extract market based on the below-mentioned segments:

Aloe Vera Extract Market, Product Form Analysis

• Liquid
• Gel
• Powder
• Others

Aloe Vera Extract Market, Distribution Channel Analysis

• Offline
• Online

Aloe Vera Extract Market, Application Analysis

• Food & beverages
• Cosmetics
• Pharmaceuticals

Aloe Vera Extract Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa