Global Aloe Vera Extracts Market Overview, 2023-28

Global Aloe Vera Extracts Market Overview, 2023-28

Aloe vera, a succulent plant species native to arid regions, has been revered for centuries for its medicinal properties. It is widely recognized for its gel-like substance found in its thick, fleshy leaves, which is packed with essential vitamins, minerals, enzymes, and amino acids. This natural cocktail of nutrients makes aloe vera a versatile ingredient with diverse applications. The Aloe Vera Extract industry has experienced remarkable growth in recent years, driven by increased consumer awareness of its numerous health and skincare benefits. This natural wonder plant, known for its soothing and healing properties, has found its way into a wide range of products, from cosmetics to dietary supplements and pharmaceuticals. To acquire a competitive edge over rivals and to increase their global footprint, the majority of businesses are spending money on R&D and releasing creative products. The rising usage of aloe Vera extracts in sugar-free beverages is currently one of the biggest industry trends, and this is likely to broaden the product's potential applications. Due to growing customer awareness of leading a healthy lifestyle, markets for producers include nations like India, China, and the U.S. Aloe Vera extracts are frequently used to cure a variety of illnesses, including cancer, gum disease, hair loss, and skin disorders. The prevalence of these health problems has increased as a result of increased pollution and a fast-paced lifestyle, which is fostering market expansion. As more people develop diabetes, new opportunities for the business are anticipated because many diabetic patients are turning more and more to herbal extracts to manage their condition. Additionally, aloe Vera gel or leaves are used to provide immediate relief from a variety of burn issues, including sunburn, chemical burns, and burns from fires. Another element projected for the expansion of the global market in the ensuing years is the expanding use of aloe Vera products in hospitals. Another aspect that could cause the market to rise quickly is the usage of aloe vera in a variety of cosmetic items such skin tanning lotion, lipsticks, stretch mark cream, moisturizer, soap, etc.

According to the research report, “Global Aloe Vera Market Overview, 2023-28” published by Bonafide Research, 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. Consumers worldwide are increasingly seeking natural and holistic approaches to health and wellness. Aloe vera, known for its potential digestive, immune-boosting, and anti-inflammatory benefits, has gained popularity as a functional ingredient in dietary supplements and health-focused beverages. Aloe vera's hydrating, soothing, and skin-nourishing properties have made it a sought-after ingredient in cosmetics and skincare products. It is commonly found in moisturizers, serums, sunscreens, and anti-aging formulations. Aloe vera aligns with the growing demand for natural and organic products. Its inclusion in organic cosmetics and personal care items appeals to environmentally-conscious consumers. Advancements in extraction and processing techniques have allowed manufacturers to preserve the beneficial compounds found in aloe vera. This has led to the development of high-quality extracts with enhanced efficacy. The cultivation of aloe vera has expanded globally, making it more accessible and affordable. Regions like Mexico, the United States, and India are now significant contributors to the aloe vera supply chain. The Aloe Vera Extract industry is increasingly focusing on sustainability and ethical sourcing practices. This involves responsible farming, ensuring fair wages for workers, and minimizing environmental impact. Consumers are becoming more conscious of the origins of their products, leading companies to adopt transparent and ethical supply chain practices. Ongoing research into aloe vera's potential benefits continues to drive innovation within the industry. Scientists are exploring new applications, such as aloe vera's potential in cancer treatment, diabetes management, and as a natural preservative in the food industry. These developments have the potential to open up new markets and opportunities. The Aloe Vera Extract industry faces regulatory challenges in different regions. Ensuring compliance with various regulations and standards is crucial for manufacturers and can be complex due to variations in regulations across countries. Industry stakeholders are actively engaged in working with regulatory bodies to establish clear guidelines and standards for aloe vera products.

Aloe vera has a long history of use in traditional medicine systems, particularly in Ayurveda and Traditional Chinese Medicine. As interest in traditional remedies grows, there is a resurgence of interest in aloe vera's role in holistic health practices, potentially leading to a wider range of traditional medicine products containing aloe vera. The Aloe Vera Extract industry is expanding beyond traditional strongholds like cosmetics and skincare. It is finding its way into unexpected products, such as pet care products, where aloe vera is used for its soothing effects on pets' skin and fur. Consumer education remains essential for the Aloe Vera Extract industry. Many consumers are unaware of the diverse applications and benefits of aloe vera. Companies are investing in educational campaigns to inform consumers about the advantages of using aloe vera-based products. The COVID-19 pandemic brought attention to the health and wellness sector. Aloe vera's potential immune-boosting properties gained traction during this time, contributing to its increased use in dietary supplements and functional beverages. To tap into a broader market, companies within the industry are forming partnerships and collaborations. For example, cosmetic companies are collaborating with pharmaceutical companies to develop aloe vera-based products with medical benefits, creating a synergy that benefits consumers. The Aloe Vera Extract industry is also witnessing a trend toward premium and specialty products. High-end cosmetics and skincare brands are incorporating premium aloe vera extracts into their formulations, emphasizing quality and efficacy.

Based on regions, Europe has a robust cosmetics and skincare industry. Aloe vera extract is widely used in cosmetics and personal care products due to its soothing, moisturizing, and anti-inflammatory properties. European consumers prioritize high-quality skincare products, and aloe vera has become a staple ingredient in many formulations. European consumers have been increasingly health-conscious and environmentally aware. This has led to a growing demand for natural and organic products, including those containing aloe vera extract. The European market's appreciation for wellness and sustainability has driven the industry's growth. Europe has stringent regulations and standards for cosmetics and personal care products. This has encouraged the use of high-quality ingredients, including aloe vera extract, and has pushed companies to invest in research and development to meet these standards. European consumers have confidence in products that meet these regulatory requirements. European countries have been at the forefront of research into the benefits and applications of aloe vera extract. This has led to innovations in processing techniques, resulting in higher-quality extracts with enhanced efficacy. European research institutions and universities have conducted studies to uncover new uses for aloe vera in various industries. Europe has been a hub for health and wellness trends. Aloe vera's potential health benefits, including digestive health support, have aligned with these trends. Aloe vera extract has been increasingly used in dietary supplements and functional beverages, catering to the health-conscious European market. European companies have diversified their product offerings to include a wide range of aloe vera-based products, from skincare and cosmetics to dietary supplements and herbal remedies. This diverse portfolio has allowed them to cater to various consumer preferences and needs. Europe's well-established trade and distribution networks facilitate the import and distribution of aloe vera extract and related products. This enables European companies to access a global supply chain and offer a wide variety of aloe vera-based products to consumers.

Based on product type, whole leaf extracts are growing with higher CAGR during the forecast period. They often perceived as more potent and concentrated compared to aloe vera gel. Consumers believe that they may contain a higher concentration of beneficial compounds and nutrients, making them a more attractive choice for health and wellness purposes. Whole leaf extracts are marketed as comprehensive health and wellness products. They are positioned to provide benefits not only for skincare but also for digestive health, immunity, and overall well-being. This aligns with the holistic health trend, where consumers seek multifunctional products that address multiple aspects of health. Aloe vera has a long history of traditional use for digestive health, including relief from gastrointestinal discomfort. Whole leaf extracts are often marketed as a more potent solution for digestive issues, appealing to individuals looking for natural remedies to support their gut health. Aloe vera's nutrient-rich composition, including vitamins, minerals, and antioxidants, is believed to support the immune system. Whole leaf extracts are positioned as immune-boosting products, which has gained traction, especially during times of heightened health awareness. Whole leaf aloe vera extracts have roots in traditional medicine systems like Ayurveda and Traditional Chinese Medicine. This lends credibility and trust to these products among consumers who are interested in alternative and holistic health remedies. Whole leaf extracts can be used in various forms, including dietary supplements, juices, and topical applications. This versatility allows consumers to choose the format that best suits their needs and preferences. Some consumers perceive whole leaf extracts as less processed and more natural compared to aloe vera gel. Transparency in labelling and claims of purity can attract discerning buyers who seek less processed options.

Aloe vera powder has a longer shelf life compared to fresh aloe vera gel or juice based on product form. This makes it a convenient option for manufacturers who need aloe vera as an ingredient in various products, as it can be stored for extended periods without spoilage. Aloe vera powder is lightweight and takes up less space than liquid forms. This makes it easier and more cost-effective to transport, especially for businesses involved in international trade. Aloe vera powder is stable when incorporated into various formulations, including cosmetics, skincare products, dietary supplements, and herbal remedies. It does not alter the consistency or texture of these products, making it a versatile ingredient. Powdered aloe vera allows for precise dosing in manufacturing processes. This is important in ensuring that the desired concentration of aloe vera is achieved in the final product. Aloe vera powder typically has a lower water content compared to gel or juice, which can be advantageous in formulations where excess moisture is undesirable. Manufacturers can use aloe vera powder to develop a wide range of products, from capsules and tablets to powders, creams, lotions, and dry mixes. This versatility allows them to cater to diverse consumer preferences and needs. Powdered aloe vera can be shipped to regions with varying climates without concerns about temperature-sensitive spoilage, making it accessible to a global market. Aloe vera powder blends easily with other dry ingredients, facilitating its incorporation into a variety of products, including dietary supplements, protein powders, and functional foods. Aloe vera powder can be more cost-effective than other forms due to reduced transportation costs, longer shelf life, and efficient manufacturing processes.

Aloe Vera has been traditionally recognized for its wound-healing properties. Its natural gel contains compounds like glucomannans and glycoproteins that can promote the healing process. These properties make it a valuable ingredient in pharmaceutical ointments and creams used for minor burns, cuts, and abrasions. Aloe Vera contains anti-inflammatory compounds such as brady-kinase, which can help reduce inflammation in skin conditions and injuries. Its antioxidant properties, attributed to vitamins like vitamin E and C, can help protect tissues from oxidative damage, making it suitable for various dermatological applications. Aloe Vera is beneficial for various skin conditions, including psoriasis, eczema, and dermatitis. Pharmaceutical formulations containing Aloe Vera can provide relief from itching, redness, and discomfort associated with these skin ailments. Also, aloe Vera is a natural moisturizer that can help improve skin hydration. Pharmaceutical products that incorporate Aloe Vera can help maintain skin moisture levels, which is crucial for individuals with dry or sensitive skin. The antimicrobial and anti-inflammatory properties of Aloe Vera make it effective for acne treatment. Pharmaceutical preparations containing Aloe Vera can help reduce acne-related inflammation and soothe irritated skin. Aloe Vera has been studied for its potential benefits in gastrointestinal health. It may help alleviate symptoms of conditions like irritable bowel syndrome (IBS) and acid reflux. Aloe Vera's mild laxative effect has also led to its use in certain pharmaceutical products for constipation relief. Some pharmaceutical mouthwashes and dental products incorporate Aloe Vera due to its potential to soothe oral tissues, reduce inflammation, and combat bacteria in the mouth. It can contribute to overall oral health.

The online sales channel for Aloe Vera products has experienced significant growth for a variety of reasons. For instance, online shopping offers unparalleled convenience. Consumers can browse, compare, and purchase Aloe Vera products from the comfort of their homes or on-the-go using their smartphones. This eliminates the need for physical store visits and allows for 24/7 access to products. Online platforms provide access to a wide range of Aloe Vera products, including gels, creams, lotions, supplements, and more. Consumers have the flexibility to explore various brands, formulations, and price points, increasing their chances of finding products that suit their preferences and needs. Detailed product information, including ingredients, usage instructions, customer reviews, and expert recommendations, is readily available online. Shoppers can make informed decisions based on this information, which may not be as readily accessible in physical stores. Online shoppers can easily compare prices across different retailers, allowing them to find the best deals and discounts. Price transparency empowers consumers to make cost-effective choices. Online platforms often feature customer reviews and ratings. Shoppers can benefit from the experiences and opinions of others who have used Aloe Vera products, helping them choose products with positive feedback and avoiding those with negative reviews. Online shopping transcends geographical boundaries. Consumers can access Aloe Vera products from a global market, ensuring that they have access to a diverse range of products and formulations. Many online retailers offer subscription services for Aloe Vera products. This allows consumers to receive their preferred products regularly without the hassle of reordering. Subscription models often come with discounts or free shipping, providing added value to customers. Online platforms use algorithms to recommend products based on a shopper's browsing and purchase history. This personalization enhances the shopping experience by suggesting relevant Aloe Vera products tailored to individual preferences. Some consumers prefer the privacy and discretion of online shopping when purchasing personal care and health-related products like Aloe Vera. They can explore and buy products without the need for face-to-face interactions with salespeople.

Covid-19 Impacts

The pandemic disrupted supply chains worldwide, including those for Aloe Vera extract. Lockdowns, travel restrictions, and labour shortages in some regions affected the cultivation, harvesting, and processing of Aloe Vera. This led to interruptions in the supply of Aloe Vera raw materials and extracts. Manufacturing facilities faced challenges due to the need to implement social distancing measures and health and safety protocols. These measures, while necessary to protect workers, sometimes resulted in reduced production capacity and delays in product manufacturing. As the pandemic unfolded, consumers' priorities shifted. Health and wellness became paramount, and there was a heightened interest in natural remedies and immune-boosting products. Aloe Vera, known for its potential health benefits, saw increased demand as a result. Aloe Vera extracts, particularly in the form of dietary supplements, experienced increased sales during the pandemic. Consumers sought supplements that could support immune health and overall well-being, leading to a surge in demand for Aloe Vera-based products. With physical stores temporarily closed or operating with restrictions, online sales channels became more crucial than ever. Many consumers turned to e-commerce platforms to purchase Aloe Vera extract products, further accelerating the growth of online retail in the Aloe Vera market. While overall consumer spending decreased in some areas during the pandemic, there was sustained demand for skincare and personal care products. Aloe Vera's soothing and moisturizing properties made it a popular ingredient in these products. The disruptions highlighted the importance of building resilient supply chains. Some companies began diversifying their supply sources to mitigate future risks and ensure a steady supply of Aloe Vera raw materials. Consumers became more conscious of the quality and safety of the products they purchased. This emphasized the need for rigorous quality control and safety measures in the Aloe Vera extract industry. Regulatory bodies in different countries introduced guidelines and standards related to the production and labelling of health and wellness products, including Aloe Vera extracts. Companies had to adapt to these evolving regulations. The pandemic accelerated the long-term health and wellness trend. Aloe Vera, with its perceived health benefits and natural properties, is likely to continue benefiting from this trend even as the pandemic subsides.

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-wise Aloe Vera Extract market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & 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.

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