Aloe Vera Gel Market By Product Type (Conventional, Organic) , By End-Use Industry (Cosmetic and Personal Care, Food and Beverages, Pharmaceutical) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Aloe Vera Gel Market
The aloe vera gel market was valued at $309.7 million in 2023 and is projected to reach $603.5 million by 2033, growing at a CAGR of 6.9% from 2024 to 2033.
Aloe vera gel is a clear, viscous liquid extracted from the fleshy leaves of Aloe barbadensis miller, a succulent plant. It is an anti-inflammatory substance rich in minerals, amino acids, vitamins, enzymes, and antioxidants. The gel is used in topical form for protection against burns, sunburns, small cuts & abrasions, dry skin, eczema, cold sores, frostbite, psoriasis, and acne. Aloe vera gel is directly usable in its raw form and is incorporated into over-the-counter products such as skin lotions, ointments, & cosmetics.
The growth of the aloe vera gel market is driven by several factors, including rise in inclination toward natural products, increase in demand for wellness products & health supplements, and upsurge in application of skincare & anti-aging products. In addition, increase in the prevalence of varying skin conditions such as eczema, psoriasis, and acne has boosted the assimilation of the gel into dermatological products owing to its healing properties. This fuels the requirement for aloe vera gel and augments the market growth. A novel use of aloe vera gel projected to trend in the market in coming years is its application on fruits and vegetables as an edible coating. The hydrocolloid properties of aloe vera prevent the contact of fruits & vegetables with air & moisture, minimizing the rate of respiration and enhancing their shelf life.
However, the widespread availability of aloe vera gel-based products has raised concerns pertaining to their adulteration and low quality. The integration of preservatives and artificial colors in several products hampers the growth of the market. Moreover, challenges associated with sourcing raw materials and enhancing production scalability increase the costs of products, restraining the market development significantly. Contrarily, upsurge in the inclusion of aloe vera gel in pet care products is poised to open new avenues for the market. As pet owners are becoming significantly aware of the ingredients used in animal care products and are willing to spend more on clean products, the market is poised for lucrative opportunities in the future. According to the statistics of The American Society for the Prevention of Cruelty to Animals, Americans spend approximately $2540 yearly on the overall requirement of their pets.
Segment ReviewThe aloe vera gel market is segmented into product type, end-use industry, and region. On the basis of product type, the market is bifurcated into conventional and organic. As per end-use industry, it is classified into cosmetic & personal care, food & beverages, and pharmaceutical. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of product type, the conventional segment held a high share of the market in 2023.
As per end-use industry, the cosmetic & personal care segment acquired a high stake in the market in 2023.
Region wise, Asia-Pacific was the highest revenue generator in 2023.
Competition AnalysisThe leading players operating in the global aloe vera gel market include Aloecorp Inc., Forever Living Products, Terry Laboratories, Inc., Lily of the Desert, Natural Aloe Costa Rica S.A., Aloe Laboratories Inc., Herbalife International of America, Inc., Aloe Vera of Australia, Real Aloe Solutions Inc., and Green Leaf Naturals. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy Product TypeConventional
Organic
By End-Use IndustryCosmetic and Personal Care
Food and Beverages
Pharmaceutical
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market PlayersAloecorp Inc.
Forever Living Products
Terry Laboratories, Inc.
Lily of the Desert
Natural Aloe Costa Rica S.A.
Aloe Laboratories Inc.
Herbalife International of America, Inc.
Aloe Vera of Australia
Real Aloe Solutions Inc.
Green Leaf Naturals