Aloe Vera Extract Market
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Aloe Vera Extract Market size valued at USD 3.08 billion in 2023 and is expected to grow at a CAGR of 8.5% between 2024 and 2032. The rise in demand for Aloe vera extract is attributed to its health benefits, such as skin moisturizing, wound healing, and digestive health improvement. Aloe vera extracts are also used in various applications such as food and beverage, pharmaceutical, and cosmetics. The increasing awareness of the health benefits of Aloe vera extract among consumers is driving the market growth.
The increasing use of Aloe vera extract in various beauty and skincare products is set to augment the market demand. The limited availability of Aloe vera plants and the high cost of processing the extract may limit the industry growth. Nonetheless, the growing demand for organic products is predicted to fuel the market's growth, as Aloe vera extract is a natural ingredient that has gained popularity in various industries.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Aloe Vera Extract Market size in 2023: | USD 3.08 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 8.5 |
| 2023 Value Projection: | USD 6.4 Billion |
| Historical Data for: | 2018 to 2023 |
| No of Pages: | 250 |
| Tables, Charts & Figures: | 250 |
| Segments Covered: | Form, Application, Distribution Channel |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The export data for organic products in India reveals a robust growth rate of 19.5% in the organic market value from 2019 to 2021, amounting to a value of INR 7,078.5 crore (USD 1,040.96 million) in 2020-21, with a further increase of 33% in the previous year. This growth trend indicates a rising demand for organic and natural products in the international market. The aloe vera extract market is a significant player in this trend, experiencing steady growth due to its various health benefits and medicinal properties. With an increasing demand for organic products, the market is projected to continue its upward trajectory, presenting a range of opportunities for manufacturers and suppliers in both domestic and international markets.
The liquid aloe vera extract market size accounted for USD 1.5 billion in 2022.The demand for liquid aloe vera extract is influenced by consumer preferences, quality, availability, and pricing. The cosmetics and personal care industries are driving the demand for liquid aloe vera extract due to its potential benefits for skin health, and it is commonly used as an ingredient in skincare products.
The cosmetics segment holds the largest share at 43% in 2022, the cosmetic industry has been a major consumer of aloe vera extract attributed to its numerous benefits for skin and hair. The demand for natural and organic cosmetic products has been growing steadily, and aloe vera extract has become a popular ingredient in a variety of skincare and hair care products.
The Asia Pacific aloe vera extract market reached USD 1.07 billion in 2022 led by increasing use of aloe vera extract in the cosmetics, pharmaceuticals, and food and beverage industries. The rising population and improving economic conditions in countries like India and China, is likely to spur the industry outlook. Additionally, the growing trend of healthy lifestyles and increasing awareness about aloe vera extract's medicinal and therapeutic benefits will continue to boost market growth in the Asia Pacific region.
Some of the leading companies involved in the aloe vera extract market are
Market, By Foam (2018 – 2032)
Market, By Application (2018 – 2032)
Market, By Distribution Channel (2018 – 2032)
The above information has been provided for the following regions and countries:
Pharmachem Laboratories, Lily of the Desert Organic, Natural Aloe Costa Rica, Aloe Farms, Inc., and Aloe Laboratories are a few of the well-known industry players.
Liquid aloe vera extract market size exceeded USD 1,500 million in 2022, driven by higher application in cosmetics and personal care industries
Demand for aloe vera extract in the Asia Pacific reached over USD 1,070 million in 2022, on account of increasing usage in the cosmetics, pharmaceuticals, and food and beverage industries.
The market size was worth USD 3.08 million in 2023 and is poised to witness 8.5% CAGR from 2023 to 2032, due to the surging need for skin moisturizing, wound healing, and digestive health improvement.