The global aloe vera gel market, valued at USD 337.7 million in 2022, is projected to grow to USD 712.3 million by 2032, reflecting a compound annual growth rate (CAGR) of 7.8% from 2022 to 2032. This growth trajectory represents an absolute market opportunity of approximately USD 374.6 million over the forecast period.
A recent half-yearly analysis by FMI indicates a strong growth outlook for the global Aloe vera gel market. The market experienced a notable 7.7% increase in the first half of 2021 (H1 2021). The report identifies significant trends that are expected to influence the industry’s trajectory moving forward.
Prominent Drivers of Aloe Vera Gel Market
- Rising Awareness of Natural Ingredients: Increasing consumer preference for natural and organic products is driving demand for Aloe vera gel, known for its soothing and healing properties.
- Growing Skincare and Personal Care Industry: Aloe vera gel’s benefits for skin health, including hydration and anti-inflammatory properties, contribute to its widespread use in skincare and personal care products.
- Expansion in the Cosmetics and Beauty Sector: The popularity of Aloe vera gel in cosmetics, such as lotions, creams, and face masks, supports market growth as consumers seek effective and natural beauty solutions.
- Health and Wellness Trends: The growing focus on wellness and holistic health has increased the use of Aloe vera gel in dietary supplements and health drinks, boosting its market presence.
- Increase in Demand for Herbal Remedies: Aloe vera gel’s role in traditional and herbal medicine for treating various ailments enhances its appeal among health-conscious consumers.
- Advancements in Aloe Vera Cultivation and Processing: Improved agricultural techniques and processing technologies enhance the quality and availability of Aloe vera gel, meeting the growing market demand.
Developing Markets Take the Lead:
The report highlights a regional variation in growth rates. Developing markets are witnessing a significant surge in demand for Aloe vera gel, with a remarkable growth rate of 8.6% in H1 2021. This rate surpasses the projected growth for mature markets, suggesting a potential shift in market dynamics.
Challenges Faced by The Aloe Vera Gel Market
- Quality and Purity Issues: Ensuring the consistent quality and purity of Aloe vera gel can be challenging due to variations in cultivation practices and processing methods, impacting product efficacy and consumer trust.
- High Production Costs: The cost of cultivating and processing Aloe vera can be high, particularly for organic and high-quality products, which may affect pricing and market competitiveness.
- Regulatory Compliance: Navigating stringent regulations and standards for natural and cosmetic products can be complex and costly, impacting market entry and product development.
- Adulteration and Fraud: The prevalence of adulterated or falsely labeled Aloe vera products can undermine consumer confidence and create market challenges for genuine suppliers.
- Supply Chain Disruptions: Disruptions in the supply chain, including issues with raw material sourcing and logistics, can affect the availability and cost of Aloe vera gel.
- Market Saturation: The increasing number of players and products in the Aloe vera gel market can lead to intense competition and market saturation, making differentiation and brand loyalty critical.
Competitive Landscape
- Terry Laboratories, Inc.,
- Aloe Laboratories Inc.,
- Lily of the Desert,
- Patanjali Ayurved Ltd.,
- Aloecorp, Inc.,
- L’Oréal S.A.,
- Herbalife International, Inc.,
- Aloe Farms, Inc.,
- Natural Aloe De Costa Rica, S.A,
- 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.,
- Nature Republic Co., Ltd.
are some of the key companies profiled in the full version of the report.
There are immense opportunities for market participants in the aloe vera gel market, owing to the enormous use of aloe vera gel as a dietary supplement and as an ingredient in the cosmetic industry for the removal of acne, revitalizing skin, smoothing the skin and hair, for skin treatments, and more. Aloe vera gel is also used for juices and as a food ingredient for providing additional nutritional supplements and instant energy.
Due to various applications, an increase in the consumption of aloe vera gel can be predicted in the coming years. This is expected to provide opportunities for the aloe vera gel manufacturers to expand their operations in order to meet the uplifting demand in the market.
More Insights into the Aloe Vera Gel Market
The APAC region is expected to dominate the global aloe vera gel market throughout the forecast period with a robust CAGR of 8.8%. Developing countries like China and India are projected to be prominent players in the regional market owing to the rise in the cosmetic and healthcare industry in the region, increasing population, and the increasing spending capacity of consumers.
The United States has been a prominent supplier of aloe vera gel raw material and the end product as well. The key market players in the aloe vera gel market are based in the North American region. Owing to the high presence of market players in the region is expected to boost the sales of aloe vera gel over the forecast period.
Global Aloe Vera Gel Market by Category
By Nature :
- Organic Aloe Vera Gel
- Conventional Aloe Vera Gel
By End-Use :
- Hair Care
- Skincare
- Toiletries
- Baby Care
- Healthcare
- Food and Beverages
- Other End Uses
By Distribution Channel :
- Direct
- Supermarkets/Hypermarkets
- Specialty Stores
- Pharmacy Stores
- Convenience Stores
- Online Retail
- Other Sales Channel
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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.
Contact FMI:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
