The Global Aloe Vera Extract Market size is expected to reach $4.2 billion by 2030, rising at a market growth of 8.0% CAGR during the forecast period.
In the cosmetics sector, aloe vera extracts are utilized as a moisturizing component thereby, cosmetic sector would account for more than 45% share of the market by 2030. Aloe vera extract has anti-inflammatory characteristics that may help lessen the swelling and redness brought on by skin disorders, including psoriasis, eczema, and acne. Additionally, it could aid in calming and easing the pain brought on by these illnesses. Due to its possible antioxidant effects, aloe vera extract is sometimes applied in skincare products designed to prevent aging. Antioxidants assist in scavenging free radicals and shielding the skin from environmental harm, both of which may speed up the aging process. Aloe vera may also aid in increasing the firmness and suppleness of skin, encouraging a more youthful look. Additionally, as consumer awareness of personal grooming grows, the market has been opened up by the growth of the natural and organic skincare and cosmetics industries. Some of the factors impacting the market are growing use of Aloe Vera Extracts in beverages, rising Aloe Vera Demand in Healthcare, and concern related to potential adverse effects.
Customers are increasingly choosing natural, organic, and more nutritious drinks due to the growing adoption of a healthy lifestyle across all age groups. Additionally, shifting consumer preferences away from high-calorie carbonated beverages and toward preferable plant-based beverages presents the industry with attractive potential. Another important element driving market expansion is the rising demand for healthcare goods created with aloe vera extract. Aloe vera provides treatments for various skin, hair, and diabetes-related conditions. Today, a significant portion of the population that suffers from diabetes is treated primarily using natural, organic, and herbal extracts. A change in lifestyle and rising pollution have led to a rise in these health problems, which has helped the sector flourish.
However, consumers are becoming more concerned about safety due to prolonged human exposure and its potential carcinogenic and hazardous effects. According to chemical research, the Aloe vera plant contains various phenolic and polysaccharide compounds, mainly anthraquinones. Consuming aloe preparations has been related to phototoxicity, hypersensitivity reactions, diarrhea, renal failure, and pseudo-melanosis coli. Therefore, it is anticipated that these issues may have a negative impact on market growth.
By application, the market is segmented into food, pharmaceuticals, and cosmetics. In 2022, the cosmetics segment witnessed the largest revenue share in the market. The category is expanding as a result of an increase in the usage of herbal extracts in cosmetics such as skin, hair, and body care products. Furthermore, this market's demand is driven by the customer’s desire for herbal and organic goods. Numerous additional variables, such as the aging population and incidences of skin issues, are causing this market to expand.
Based on product, the market is divided into capsules or tablets, powder, liquid, and gels. In 2022, the liquid form held the highest revenue share in the market. The increase is linked to the increasing usage of plants and herbal extracts in cosmetic products for the body, skin, and hair. Regarding its nutrient content, the product is considered a higher grade. The liquid component is the most widely used commercially available product, according to the Aloe Science Council (IASC).
On the basis of distribution channel, the market is categorized into offline and online. The online segment dominated the market by generating the highest revenue share in 2022. Online sales channels are growing significantly as more people use the internet in different nations. Additionally, online merchants like Amazon and Flipkart are making this packaging category their primary area of concentration.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 2.3 Billion |
| Market size forecast in 2030 | USD 4.2 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 8% from 2023 to 2030 |
| Number of Pages | 181 |
| Number of Table | 350 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Product, Distribution Channel, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe region led the market by generating the maximum revenue share in 2022. The demand is anticipated to increase as people become more aware of the possible health advantages of aloe vera products. Additionally, the desire of consumers for herbal & natural cosmetics will create new market opportunities.
Free Valuable Insights: Global Aloe Vera Extract Market size to reach USD 4.2 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Aloecorp Inc., Terry Laboratories Inc., F. Hoffmann-La Roche Ltd., Aloe Farms, Inc., Ashland, Inc. (Pharmachem Laboratories Inc.), Lily of the Desert, Aloe Laboratories, Inc., Foodchem International Corporation, Natural Aloe Costa Rica and Calmino Group AB.
By Application
By Distribution Channel
By Product
By Geography
The Market size is projected to reach USD 4.2 billion by 2030.
Growing use of Aloe Vera Extracts in beverages are driving the Market in coming years, however, Concern related to potential adverse effects restraints the growth of the Market.
Aloecorp Inc., Terry Laboratories Inc., F. Hoffmann-La Roche Ltd., Aloe Farms, Inc., Ashland, Inc. (Pharmachem Laboratories Inc.), Lily of the Desert, Aloe Laboratories, Inc., Foodchem International Corporation, Natural Aloe Costa Rica and Calmino Group AB.
The expected CAGR of this Market is 8.0% from 2023 to 2030.
The Offline segment is generating the highest revenue share in the Global Aloe Vera Extract Market by Distribution Channel in 2022 thereby, achieving a market value of $3.1 billion by 2030.
The Europe market dominated the Global Aloe Vera Extract Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.4 billion by 2030.
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