aloe vera gel market known across the world for its therapeutic qualities, is grown in tropical nations like the US, Mexico, China, By 2033, $668.9 billion. Growing disposable incomes and the number of vegan consumers are the main drivers of this rise. Because they are willing to pay more for high-end plant-based beverages, millennials are predicted to play a major role in gaining market share.
Plant-based beverage sales are expected to reach US$ 351.7 bil
lion globally by 2023, with a compound annual growth rate (CAGR) of 6.6%. By 2033, it is anticipated that the market will be valued at US$ 668.9 billion.
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The global aloe vera gel market is estimated at US$ 337.7 Million in 2022 and is projected to reach US$ 712.3 Million by 2032, at a CAGR of 7.8% from 2022 to 2032. Globally, the market is estimated to create an absolute $ opportunity of about US$ 374.6 Million by 2032
Aloe vera is well-known on a global scale due to the medicinal, botanical, and regenerative benefits it offers. The aloe vera plant, a member of the Liliaceae family, is mostly grown in tropical countries including the United States, Mexico, China, India, Korea, and others. Water makes up the majority of aloe vera gel, which is produced from the inside leaf of the plant. Vitamins, amino acids, minerals, hormones, enzymes, and carbohydrates are also present in trace levels. Aloe vera gel has several advantageous properties and a wide range of uses in a variety of industries, including cosmetics, healthcare, personal care, baby care, food and beverages, and others.
There are numerous opportunities for market participants in the aloe vera gel industry due to the widespread use of aloe vera gel as a dietary supplement and an ingredient in the cosmetic industry for the treatment of skin conditions like acne, rejuvenating the skin, smoothing the skin and hair, and more. Aloe vera gel can be used to juices and food items to boost nutrition and energy quickly.
Growing Focus on Product Promotion through Various Consumer Platforms Surging the Demand for Aloe Vera Gel
The market for aloe vera gel is expanding as a result of the rise in health and fitness shows and events over the past several years. Manufacturers of aloe vera gel concentrate on using these programmes to promote their products. Additionally, aloe vera gel producers place a strong emphasis on raising brand awareness through various promotional activities. The advertising of aloe vera gel beverages through direct selling channels also aids in raising awareness and revenue.
Aloe vera gel’s potential advantages are becoming more widely known to consumers because to advertising for products made with natural ingredients in magazines, TV shows, and newspapers.
North America to Dominate the Global Aloe Vera Gel Market
The North American region is estimated to account for around 44.5% of the market share for aloe vera gel in 2018 by value, with the U.S. having the highest share in the region, with an estimated value share of 90%, and the projected aloe vera gel industry value to be US$ 100.9 Mn in 2018. In addition, the APAC region also is estimated to showcase prominent growth in the aloe vera gel industry during the forecast period, with a CAGR of 8.8% by value, owing to growing urbanization, increase in the disposable income of consumers, high millennial population, and changing lifestyle and food & beverage preferences.
e-Commerce One of the Fastest Growing Distribution Channels in the Aloe Vera Gel Market
The fastest-growing distribution channel in the aloe vera gel industry during the forecast period is projected to be e-Commerce platforms, which is estimated to grow at a CAGR of 10.4%, with a BPS of 436, owing to technological and digital advancements, and increase in the number of consumers, especially the millennial population using smartphones and other digital mediums to buy various food and beverages, cosmetics, homecare, and grocery products with just a click while sitting at their places.
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Global Aloe Vera Gel Market: Competition Dashboard
FMI has profiled some of the prominent market participants in the global aloe vera gel market identified across the value chain, such as Terry Laboratories, Inc., Aloe Laboratories, Inc., Lily of the Desert, Patanjali Ayurved Ltd., Aloecorp, Inc., Pharmachem Laboratories, Inc., L’Oréal S.A., Herbalife International, Inc., Aloe Farms, Inc., Natural Aloe De Costa Rica, S.A, Foodchem International Corporation, Real Aloe Solutions Inc., Now Health Group, Inc., Aroma Treasures, Fruit of the Earth, Inc., Nature’s Essence Pvt. Ltd., Forever Living Products International, Inc., and a Improve USA, Inc., among others.
Market Segmentation
Following are the major segments in the aloe vera gel industry
Aloe Vera Gel Market by Nature
- Organic Aloe Vera Gel
- Conventional Aloe Vera Gel
Aloe Vera Gel Market by End Use
- Hair Care
- Skincare
- Toiletries
- Baby Care
- Healthcare
- Food and Beverages
- Other End Uses
Aloe Vera Gel Market by Distribution Channel
- Direct
- Supermarkets/Hypermarkets
- Specialty Stores
- Pharmacy Stores
- Convenience Stores
- Online Retail
- Others
Aloe Vera Gel Market by Region
- North America
- Latin America
- Eastern Europe
- Western Europe
- APAC
- Middle East & Africa
Key Questions Answered in the Report
- What is the size of aloe vera gel market?
In 2021, aloe vera gel industry is valued at US$ 315 Mn, and expected to grow at 7.8 % CAGR.
- Which are the leading companies in aloe vera gel market?
The major players in the global aloe vera gel market are Terry Laboratories, Inc., Aloe Laboratories, Inc., Lily of the Desert, Inc., Inc., Aloe Farms, Inc., Natural Aloe De Costa Rica, S.A, Real Aloe Solutions Inc., Now Health Group, Inc., Aroma Treasures, Forever Living Products International, Inc., and a Improve USA Inc.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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