The global aloe vera gel market is anticipated to reach US$ 337.7 Million in 2022 and is expected to estimate revenue of US$ 712.3 Million by 2032 showcasing an opulent CAGR of 7.8% across the projection period from 2022 to 2032. In the global scenario, the market is estimated to create an absolute dollar opportunity with the prediction of higher sales of aloe vera gel across every sector.
FMI presents a half-yearly comparison analysis and review of the market growth rates and further development prospects in the global market. The market is predominantly influenced by certain demographic and innovation factors under the subjective impact of macro and industry factors.
The global market for Aloe vera gel is witnessing H1 2021 growth at the magnitude of 7.7%. However, this growth is not evenly spread across all regions, with the developing markets recording higher growth rates of 8.6%. Thus, leaving the gap of -85.8 BPS points between expected and projected growth during H1 2022.
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Key Takeaways
- Due to changing consumer preferences towards healthy lifestyles and inclination towards practices such as gyming, yoga, and healthy food consumption. These factors have surged the demand for health-related products including organic food and natural ingredient-based cosmetics.
- Aloe vera gel is widely used in ample industries including food & beverage, healthcare, and cosmetic industries. There is a surge in aloe vera-infused products owing to its several benefits and the potential opportunity offered by this consumer segment.
- Backed by several health benefits offered by aloe vera gel containing significant amounts of essential nutrients such as vitamins, amino acids, enzymes, sugars, and hormones is expected to drive the market growth.
- Aloe vera gel is drastically gaining traction owing to its medicinal, herbal, and remedial properties as it is derived from the inner leaf of the plant, comprising majorly of water content and minerals, hormones, enzymes, vitamins, amino acids, and sugars in small amounts.
- The surging consciousness among consumers to look good and enhance their outer appearance has majorly led to the growth of the cosmetics and personal care industry that is in return paving the way for the aloe vera gel market.
- Emerging economies such as India and China are witnessing an increase in consumption patterns which is resulting in increased demand for the Aloe Vera Gel market. In addition to that, various other market segments are expected to have a fair performance and attain promising growth prospects in the next half of the projection period.
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.
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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.
Market Segmentation
Following are the major segments in the aloe vera gel market:
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
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Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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 ~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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