Enjoy complimentary customisation on priority with our Enterprise License!
The Aloe Vera Extracts Market size is projected to increase by USD 1,366.51 million and the market size is estimated to grow at a CAGR of 8.62% between 2023 and 2028.
This aloe vera extracts market report extensively covers market segmentation by distribution channel (offline and online), application (cosmetics, pharmaceuticals, and food and beverages), and geography (APAC, North America, Europe, South America, and Middle East and Africa). Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
Increasing preference for the Mediterranean diet is notably driving the market growth. The Mediterranean diet emphasizes eating foods such as fish, fruits, vegetables, beans, high-fiber bread, whole grains, nuts, and aloe vera oil. The intake of meat, cheese, and sweets is very limited in this diet. The foods recommended under the Mediterranean diet are rich in monounsaturated fats, fiber, and omega-3 fatty acids. The presence of Aloe vera in food acts as an antioxidant and antibacterial properties. Aloe vera extract plays a major role in the Mediterranean diet. The growing preference for the Mediterranean diet among people globally is thereby contributing to the growth of the global aloe vera extract market. The awareness of the importance of having a strong heart and a longer life is driving the demand for aloe vera extract. Thus, such factors will drive the market growth during the forecast period.
The Aloe Vera Extracts Market shows an accelerated CAGR during the forecast period.
To get additional information about the market, Request Free Sample
Rising awareness of the medicinal properties of aloe vera is an emerging trend shaping the market growth. In recent years, there has been an increase in consumer interest in aloe vera based on scientific research as well as traditional knowledge. It has been used as a treatment for skin diseases, digestive problems, immune system support, and even as an anti-cancer agent. As a result of this growing awareness, there is a growing demand for all things natural and organic. This has led to the development of the global market for all things natural, such as gels, juices, creams, and supplements containing Aloe Vera Extracts.
However, aloe vera's anti-inflammatory, anti-microbial, and antioxidant properties make it a popular ingredient in many industries, including pharmaceuticals, cosmetics, and food and beverage. Aloe vera is rich in vitamins and minerals, as well as enzymes, polysaccharides, and other nutrients. All these factors will expand the growth of the market during the forecast period.
Quality control and supply chain issues are significant challenges hindering the market growth. Aloe vera extracts quality control is a critical issue in the industry. The industry necessitates stringent control measures to guarantee that extracts meet the required quality criteria. These measures include testing for purity, strength, and absence of impurities. However, due to the variability of aloe plants and the intricacy of extraction processes, it can be challenging to achieve consistent quality control. As a result, the final product may be inconsistent, which can have a negative impact on customer satisfaction and market reputation.
Furthermore, the perishable nature of aloe vera extracts necessitates the maintenance of proper storage conditions and transportation to avoid product degradation. All these mentioned factors can restrict the growth of the aloe vera extracts market during the forecast period.
Aloe vera extracts have become the most popular cosmetic ingredient in the world due to their numerous skin and hair-friendly properties. The cosmetics industry is the largest market segment in terms of end users by volume. Moreover, Aloe vera extract has been found to possess anti-inflammatory, anti-inflammatory, and anti-microbial properties, making it an ideal addition to skincare products that are formulated to target acne-prone skin. Its soothing properties help to reduce inflammation and redness, and its anti-microbial properties help to inhibit the growth of bacteria that can cause breakouts. In addition to skincare, Aloe vera is also used in hair products. It's great for nourishing and hydrating your hair, making it stronger, and helping your hair grow. You can find aloe in shampoo, conditioner, and hair masks because it helps reduce scalp irritation, stop dandruff, and improve overall hair health. All these features and advantages of using aloe vera extract in cosmetics will drive the growth of the global aloe vera extract market during the forecast period.
The market share growth by the offline segment will be significant during the forecast period. The offline market is a key factor in the global distribution of the aloe extract market, accounting for the largest segment of the market. Aloe Vera Extract is a highly desired ingredient due to its numerous health advantages and its utilization in a variety of industries, including pharmaceuticals, cosmetic products, and foods and beverages. The traditional offline distribution channels are those in which customers visit physical stores to purchase goods.
The offline segment was the largest and was valued at USD 1,423.42 million in 2018.
For a detailed summary of the market segments Request for Sample Report
These stores typically include grocery stores, pharmacies, specialized shops, and beauty salons. Despite the growth of e-commerce, the traditional offline market remains the most prominent due to its extensive reach and loyal customer base. The offline market has become increasingly prominent due to the direct connection between customers and products. Consumers can gain a better understanding of the quality, structure, and packaging of products, thus increasing their confidence in making a purchase. Additionally, offline stores are often staffed with knowledgeable personnel who can provide tailored advice and explanations about the advantages of aloe extract products, thus further improving the shopping experience. Hence, such factors will fuel the growth of the segment which in turn drives the market growth during the forecast period.
APAC is estimated to contribute 34% to the growth of the global market during the forecast period
Get a glance at the market share of various regions View PDF Sample
Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In 2022, China, India, Japan, and Australia were among the major contributing countries to the aloe vera extract market in APAC. The Aloe vera extract market in APAC is the largest, with consumer concerns about the health benefits of aloe vera extract and usage of cosmetics, and the increase in the spending capacity of consumers is expected to boost market growth. The potentially large customer base for aloe vera extract in countries such as India and China indicates high growth prospects for aloe extract product sales in APAC. Increasing fashion sense related to skin and hair and rising health awareness among consumers are expected to aid the revenue growth of aloe vera extract and organic products in APAC during the forecast period.
The COVID-19 pandemic had a negative impact on the regional aloe vera extract market in 2020. However, in 2021, due to the availability of COVID-19 vaccines and the large-scale vaccination drives carried out by the governments of different countries in APAC, including China, Japan, South Korea, Australia, and others, activities in offline retail channels that sell olive leaf extracts gradually returned to normal. The demand for aloe vera extract will continue to increase in the region and expand the growth of the Asian aloe vera extract market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The aloe vera extracts market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The aloe vera extracts market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Aloe Vera Extracts Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.62% |
Market Growth 2024-2028 |
USD 1,366.51 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.96 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 34% |
Key countries |
US, Canada, China, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aloecorp Inc., Alogenic , Alpspure Lifesciences Pvt. Ltd., Anwel Life Sciences Pvt. Ltd., AOS Products Pvt. Ltd., Arkure Health Care, ASM Pharmaceuticals and RD Center, Botanic Healthcare Group, Changsha Vigorous Tech Co. Ltd., Forever Living Products International LLC, Herbal Creations, Herboil Chem, HOAP Industries, Medikonda Nutrients, Natura Biotechnol Pvt Ltd, Phyto Life Sciences P. Ltd., Power Health Products Ltd, Rudra Shakti Herbs Pvt. Ltd., Terry Laboratories LLC, and Vive Cosmetics |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
BUY NOW Full Report and Discover more
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.