Aloe Vera Extracts Market Outlook, 2028

Aloe vera gel is extracted from the leaves of aloe plants. It has been used for thousands of years to cure and soften the skin. Aloe has also long been used as a folk remedy for a variety of ailments, including constipation and skin issues. Modern research into the advantages of aloe vera is conflicting, with some data suggesting that it can cause cancer in lab animals. There are hundreds of other aloe plants, but aloe vera is unique in its capacity to help both inside and outside the body. The only edible type of aloe is aloe vera. The aloe vera plant is indigenous to the Arabian Peninsula, although it is now found all over the world. For thousands of years, this shrubby, pointed plant has been grown for its calming gel. Aloe vera juice contains nutrients that may provide some health advantages. The yellow-red pigment beta-carotene is found in aloe vera plants. It functions as an antioxidant, promoting eye health by supporting retinal and corneal function. Aloe vera is a cactus-like plant that grows in hot, arid areas and has been utilized for millennia by various cultures for its medical benefits. The aloe vera lotion was linked to a statistically significant decrease in healing time and an increase in the number of cured patients. Aloe vera gel can be used in food goods as a natural preservative, increasing shelf life while delivering health advantages. Ongoing research is exploring new applications of aloe vera extract, including its potential in cancer treatment and as a delivery system for drugs and nutrients.

According to the research report, “Global Aloe Vera Market Outlook, 2028” the market is anticipated to cross USD 3.5 Billion by 2028, increasing from USD 2.58 Billion in 2022. The market is expected to grow with 7.5% CAGR by 2023-28. The global trend for natural and organic products has increased demand for aloe vera extract. Consumers are increasingly seeking natural cures and skincare products, which has fueled the market growth of aloe vera-based goods. Aloe vera extract and products are widely used in the worldwide trade sector. areas with excellent aloe production climates frequently export aloe vera gel and extracts to areas with strong demand. Most organizations are investing in R&D and introducing innovative products in order to obtain a competitive advantage and increase their global presence. At present, one of the significant market trends is the increasing usage of aloe Vera extracts in sugar-free drinks, which is predicted to broaden the product's application reach. Because of increased consumer knowledge about living a healthy lifestyle, countries such as India, China, and the United States are key markets for manufacturers. Aloe Vera extracts are commonly used to treat a variety of health concerns, including skin problems, hair loss, gum disease, and cancer. Increased pollution, along with a stressful lifestyle, has led to an increase in the occurrence of such health conditions, which is driving market expansion. Increased diabetes cases are also projected to open up new opportunities for the business, since more diabetic patients are increasingly embracing herbal remedies. In addition, aloe Vera gel or leaves are utilized to provide immediate relief from many burn conditions such as fire burns, chemical damage, and sun exposure. Furthermore, increased penetration of aloe Vera products in hospitals is another factor expected to drive worldwide market growth in the approaching years. Furthermore, Aloe Vera is utilized in a variety of cosmetic items such as skin tanning cream, lipsticks, stretch mark cream, moisturizer, soap, and so on, which is another factor likely to drive market expansion.

Government rules and regulations concerning aloe vera extract are various throughout the global market and can have a considerable impact on the manufacture, trading, and sale of aloe vera-based products. These policies are primarily intended to protect consumer health and product quality. Quality standards are frequently created to define the purity and concentration of aloe vera extract, and strict labeling regulations ensure that proper component disclosure, health claims, and administration instructions are provided. Furthermore, health claims related with aloe vera products may necessitate scientific support. Safety is of the utmost importance, demanding testing for pollutants such as heavy metals and microorganisms. Customs documentation, permits, and inspections normally govern the import and export of aloe vera products, whereas organic certification regulations apply to products branded as organic. Aloe vera extracts may face further regulatory scrutiny for medicinal purposes, requiring clinical trials and clearances. Agricultural methods relating to aloe vera cultivation may also be regulated, with a focus on sustainable and ethical farming. Trade agreements, consumer protection organizations, and developing policies all help to define the global market for aloe vera extract. Staying on top of these standards and pursuing compliance is critical for organizations in this industry.

Based on the regions, the global Aloe Vera extract market is segmented into five major regions including North America, Europe, Asia-Pacific, South America and Middle East & Africa. In terms of value, Europe dominated the global aloe vera extracts market in 2022, accounting for more than the 30% share, followed by Asia Pacific and North America. Consumer interest in nutritional health and supplement goods is increasing in European countries such as Germany, the United Kingdom, and France. More customers are turning to natural and organic items and medical procedures to prevent illness and improve their health and wellness. In addition, as health and wellness companies strengthen and broaden their product portfolios, organic and natural components are in high demand. Health products containing aloe vera extract are well-known and well-proven among European customers. Due to rising application industries in developing nations like as China and India, Asia Pacific is expected to have the greatest CAGR throughout the projected period, followed by Europe. Major markets for imports and exports include China and India. Aloe vera is commonly used in traditional Chinese medicine, and many Chinese people believe it is a Chinese plant. The nation has a robust ability to produce aloe vera extracts at home. Nevertheless, there may be price competition if there is no product differentiation. All factors are therefore expected to promote regional market growth over the course of the forecast period.

According to the report, the global aloe vera market is categorized into product type such as Aloe Vera Gel Extract and aloe Vera Whole Leaf Extract. Aloe Vera Gel Extract is perhaps more commonly found in the market and is favoured for several reasons. First and foremost, it's the clear, mucilaginous substance found in the inner leaf of the Aloe Vera plant, and it's known for its soothing and moisturizing properties. This makes it a popular choice for skincare products, including creams, lotions, and sunburn relief treatments. Many consumers prefer the gel extract for its non-sticky and fast-absorbing nature, making it a suitable choice for daily skincare routines. Additionally, the gel is often used in haircare products due to its potential benefits for scalp health and hair hydration. Aloe Vera Whole Leaf Extract contains both the inner gel and the outer leaf portions, which include the latex. The latex contains compounds like aloin, which can have laxative effects and may not be suitable for topical applications or consumption in large quantities. However, some consumers and manufacturers prefer whole leaf extract for its potential health benefits beyond skincare. It may be used in dietary supplements and beverages because of its potential internal health benefits, such as supporting digestive health and the immune system. It's also used in some topical products with the belief that it may provide a wider range of nutrients.

Based on the product form, global market is segmented into Liquid, Gel, Oil, Capsule & tablet and Powder. In 2022, liquid product form was the largest sector, accounting for more than 35% of the whole market. It is likely to be a significant segment over the forecast period. The rising use of herbal extracts has resulted from improved awareness about skin health. This could help the segment develop. Furthermore, sunburns or burn injuries can be treated with aloe Vera gel, which is projected to increase demand for gel products. Furthermore, rising demand for ammonia-, sulfur-, and paraben-free products is expected to drive segment growth in the future years. On the basis of end use industry, global aloe vera extracts market is segmented into Food and beverages, Cosmetics, Pharmaceuticals, and others. In 2022, the cosmetics segment held the dominant position in the global market. The use of herbal extracts in a variety of cosmetic and personal care products for the skin, hair, and body is rapidly expanding the market. The prevalence of various skin disorders and other related issues has spurred a demand for aloe vera products from cosmetic product producers, which is expected to expand fast in the coming years (2023- 2028). Based on distribution it includes offline and Online. The offline segment accounted for the largest market share of 85% in 2022. The online segment is expected to exhibit the fastest growth over the forecast period. With the increasing internet penetration in various countries, online sales channels are experiencing significant growth. Moreover, online retailers including Amazon and Flipkart are adding this packaging category as the main focus area.

Market Drivers:

• Increased consumer awareness of health and wellness has driven the demand for natural and plant-based products. Aloe Vera is perceived as a natural remedy with potential health benefits, such as digestive aid, skin care, and immune system support, which has fueled its market growth.
• Aloe Vera extract is a common ingredient in cosmetics and skincare products due to its moisturizing, anti-inflammatory, and healing properties. The growing demand for natural and organic skincare products has led to an increased use of Aloe Vera extract in the cosmetics industry.
• Aloe Vera is a popular ingredient in skincare and haircare products due to its soothing and hydrating properties. The global skincare and haircare market continue to grow, with Aloe Vera extract being a prominent ingredient in many product formulations.

Market Challenges:

• High initial cost and low return on investment due to the cultivation of aloe vera plant on small lands are projected to curb the market growth of the aloe vera extract over the forecast period. Moreover, limited access to technical assistance for developing and managing aloe plantations successfully as a commercial business is also expected to curb market growth over the forecast period. Furthermore, price fluctuations in the case of aloe vera extract-based products across different regions is another major factor that is expected to restrain the overall market growth of aloe vera extracts.
• The unpleasant taste of aloe vera extract has limited its application in the food and beverage industry though it has various health benefits. This factor has led to the increasing usage of aloe vera extract-only dietary supplements. Hence, this is projected to limit market growth over the forecast timeframe. Also, the complex processing method of aloe vera extract products is another major factor that is projected to hinder the market growth.

Market Trends

• Aloe vera supplements, including capsules and juices, were gaining popularity due to their potential health benefits. Consumers were turning to these supplements for digestive health, skin health, and overall well-being. Unique extraction and processing techniques were being developed to preserve the maximum beneficial compounds in aloe vera. These innovations aimed to enhance the quality and efficacy of aloe vera extracts.
• There was a growing emphasis on sustainable and ethical sourcing of aloe vera. Consumers were becoming more conscious of the environmental and social impact of the products they used. Different regions around the world were known for their unique aloe vera varieties. This led to the development of region-specific aloe vera products, catering to the preferences of local markets. Aloe vera was being incorporated into various functional beverages, including aloe vera-infused water, juices, and smoothies. These products were marketed for their potential health benefits and refreshing taste.

Covid-19 Impacts:

The COVID-19 pandemic has had a mixed impact on the global aloe vera extract market. On the one hand, the pandemic has led to increased demand for aloe vera products for its health benefits, such as its ability to soothe sunburns, heal wounds, and boost immunity. This has led to a surge in sales of aloe vera-based products, such as gels, creams, and juices. On the other hand, the pandemic has also disrupted the supply chain for aloe vera extract, as many countries have imposed travel restrictions and quarantine measures. This has led to higher prices for aloe vera extract and a shortage of the product in some markets. Overall, the impact of COVID-19 on the global aloe vera extract market is expected to be positive in the long term. The demand for aloe vera products is expected to continue to grow, as people become more aware of its health benefits. However, the short-term impact of the pandemic is likely to be negative, as the supply chain disruptions and higher prices could dampen demand. In India, the demand for aloe vera is also expected to grow in the coming years. The country has a large population of people who are interested in natural and herbal products, and aloe vera is seen as a safe and effective way to treat a variety of health conditions. The Indian government is also promoting the use of aloe vera in the healthcare sector, which is expected to further boost the demand for the product. Overall, the global aloe vera extract market is expected to grow at a CAGR of 5.4% from 2022 to 2028. The market is being driven by the increasing demand for aloe vera products for their health benefits, as well as the growing popularity of natural and herbal products. However, the supply chain disruptions caused by the COVID-19 pandemic could dampen the growth of the market in the short term.

Recent Developments:

• In May 2022, Juicy Chemistry launched aloe extract-based products such as aloe vera gel and aloe vera juice in the Indian market.
• In July 2022, Organic Harvest, organic beauty and personal care brand, launched an all-new range of organic Aloe Vera Gel. The product is available in four different variants.
• In September 2021, Desert Harvest, a producer of nutritional supplements with a high concentration of aloe vera, has obtained approval from FDA to utilize their superior medicine, aloe vera capsules for treating Interstitial Cystitis (IC), which is a chronic bladder health condition nearly impacting 12 million people.
• In April 2021, The Dublin-based company, Veganic has announced plans to export the 100% organic and 100% plant-based Aloe Vera fruit juices produced in Ireland to the US. Officials from the company have announced that they will be introducing their 100% organic and plant-based Aloe Vera with Apple juice across the country. Fruit juices made from aloe vera date back to ancient Egypt, where the plant was referred to as the plant of immortality.
• Aloe vera pulp used in Veganic's aloe vera with apple juice is completely organic, and neither added sugar nor artificial ingredients are present. All of these juices are organic. The company claims that what sets it apart from rivals is its dedication to creating only 100% organic and plant-based beverages with premium ingredients.
• In June 2020, Emami launched two variants such as organic aloe vera gel and organic aloe vera gel with Haldi Chandan Kesar under its BoroPlus brand.

Key Companies:

Major players operating in the global aloe vera extracts market include Lily of the Desert Organic Aloeceuticals, Aloe Farms Inc., Terry Laboratories Inc., Foodchem International Cooperation, Natural Aloe Costa Rica S.A., Pharmachem Laboratories Inc., Aloecorp Inc., and Aloe Laboratories Inc.

Considered in this report

• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Global Aloe Vera Extract market Outlook with its value and forecast along with its segments
• Region and Country-wise Aloe Vera Extract market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Country covered in the report:

• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle East & Africa (United Arab Emirates, Saudi Arabia, South Africa)

By Product

• Aloe Vera Gel Extracts
• Aloe Vera Whole Leaf Extracts

By Product Form

• Liquid
• Gel
• Oil
• Capsules/Tablets
• Powder

By Application

• Cosmetics
• Food & Beverages
• Pharmaceuticals

By Distribution Channel

• Convenience Store
• Hypermarket/Supermarket
• Direct Sales
• Online
• Others

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organisations related to the Aloe Vera Extract industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.