Global Aloe Vera Products Market - 2023-2030

Global Aloe Vera Products Market - 2023-2030

Global Aloe Vera Products Market reached US$ 879.12 million in 2022 and is expected to reach US$ 1403.03 million by 2030, growing with a CAGR of 6.02% during the forecast period 2023-2030.

Major key players constantly innovate and diversify their product offerings to be competitive in the aloe vera products market. This entails creating novel formulations, combining them with other all-natural substances, and pursuing new application fields. There are more than 400 species of aloe, but the most popular and widely used species is Aloe Barbadensis, Miller.

Aloe vera has traversed into the food and beverage industry, witnessing the introduction of aloe vera juices, beverages, and supplements that have become favored choices among health-conscious consumers. Aloe vera beverages, touted for their potential digestive and hydration benefits, have gained traction. Innovations persist in this sector, with aloe vera being blended with other natural components to create distinctive and functional products.

Major key players offering more organic and natural aloe vera products can tap into this market opportunity. For instance, on March 31, 2022, Clensta International, a new startup launched an innovative range of red aloe vera skincare products in the market. The newly launched product line includes six products for women and 3 for men. The newly launched products include SPF lotion, hair serum, face serum, and under-eye cream for women, and intimate brightening scrub, face brightening, and scrub for men.

Dynamics

Growing Consumer Demand for Natural Personal Care Products

Consumers are increasingly looking for personal care products with clean and transparent ingredient lists. Aloe vera is a recognizable, natural, and trusted ingredient, which aligns with the demand for clean-label products. Aloe vera products are a natural ingredient that is free from harmful chemicals. For instance, on August 30, 2022, Faces Canada, launched a new pink aloe vera skincare range in the market including face wash, toner, and day gel.

Aloe vera has anti-aging properties and it also helps to improve skin health. Aloe vera products are used as natural personal care products that are free from synthetic chemicals that are not good for skin health. Aloe vera's cooling properties are especially popular for post-sun exposure care. Sunburn relief and recovery products containing aloe vera are in high demand.

Increasing Usage in Functional Foods and Beverages

Consumers are increasingly conscious of their health due to this growing demand for functional foods and beverages. Aloe vera has various health benefits including digestive support and immune system enhancement, making it an attractive ingredient for these products. An increase in the market availability of healthy aloe vera products helps to boost market growth. For instance, on April 26, 2021, Irish-Company launched 100% organic and plant-based aloe vera fruit juices in America. The newly launched product is 100% organic and free from artificial ingredients.

Aloe vera is perceived as a natural and clean-label ingredient, aligning with the trend of clean eating and transparency in food and beverage products. Consumers are looking for recognizable and wholesome ingredients. Aloe vera is believed to have immune-boosting properties due to its potential antioxidant content. This aligns with the growing interest in foods and beverages that support overall immune health.

Product Purity and Quality Concerns

Poor-quality or adulterated aloe vera products do not deliver the expected health or skincare benefits. This led to consumer dissatisfaction and reluctance to continue using aloe vera products. In response to concerns about product quality and authenticity, regulators impose stricter quality control measures and standards for aloe vera products.

Quality control measures vary significantly among manufacturers, contributing to inconsistencies in product quality. To ensure that the batch meets specific quality criteria, manufacturers need to establish standardized protocols for processing aloe vera products. Additionally, maintaining proper storage conditions, such as controlling temperature and humidity, is crucial for preserving the aloe vera product's integrity over time.

Segment Analysis

The global aloe vera products market is segmented based on type, category, distribution channel, end-user and region.

Increasing Demand for Organic Aloe Vera Products

The organic segment held 67.1% of the global aloe vera products market share. Organic aloe vera products are viewed as a healthier choice that bolsters the pursuit of employing pure and natural ingredients on the skin. Manufacturers are continuously evolving in the organic sector to attract customers and expand their product portfolios. In May 2022, Juicy Chemistry, which introduced the first line of certified organic skin, hair, and body care in India, debuted its brand-new multipurpose aloe vera juice and gel.

Transparency and authenticity hold considerable importance for consumers in the skincare product landscape. They aspire to be fully informed about the origins and purity of the ingredients they apply to their skin. Organic certification plays a pivotal role in delivering enhanced transparency and assurance, signifying that the aloe vera products adheres to stringent organic standards and has been produced without the use of synthetic chemicals.

Geographical Penetration

Growing Popularity of the Natural Products in Asia Pacific

Asia Pacific accounted largest market share of 36.54% in 2022 in the aloe vera products market due to the increase in the consumer demand for natural products like aloe vera. Aloe vera has a long history of traditional use in several Asian countries, including India and China, where it is incorporated into traditional medicine and skincare practices. As consumers reconnect with their cultural roots, aloe vera products gain popularity.

Also, an increase in the adoption of aloe vera-based beverages in developing countries such as India and China help to boost the regional growth of the market. Aloe-based juice or drink is a traditional drink that is extensively eaten in many countries, including India, South Korea, and Japan, because of its numerous health advantages, including improved liver functioning, nutritional boost, increased hydration, and digestive benefits.

Due to an increase in the consumer's demand for natural products for skincare major key players in the market launched new products in the region. For instance, on November 23, 2022, FLP India launched aloe body wash and cleansers aloe liquid soap in the market. Aloe Body Wash helps to clean skin and promote hydration. Aloe liquid soap is a powerful and versatile cleanser for the whole family.

Competitive Landscape

The major global players in the market include Terry Laboratories, Houssy Global, Aloecorp, Grace Foods, Simplee Aloe, Suja Life, Lily of The Desert, Evergreen Healthfoods Ltd., Savia and Fruit of the Earth.

COVID-19 Impact Analysis

The COVID-19 pandemic had various impacts on the aloe vera products market, which includes a wide range of items, such as aloe vera gel, aloe vera juices, supplements, skincare products, and more. Aloe vera gel is a popular remedy for soothing sunburn and skin irritations. With more people spending time outdoors and experiencing sunburns, the demand for aloe vera gel for sunburn relief increased.

The pandemic heightened consumer awareness of health and immunity. Aloe vera products are often promoted for their potential health benefits, leading to increased demand for aloe vera supplements and juices. The pandemic accelerated the growth of e-commerce, which benefited the aloe vera products market. Consumers had convenient access to a wide range of aloe vera-based items online, from aloe vera gels to dietary supplements.

Russia-Ukraine War Impact Analysis

Geopolitical instability impacted currency exchange rates, which may, in turn, affect the cost of importing or exporting aloe vera products. This influences pricing and profitability for companies operating in the market. The war created trade restrictions, sanctions, or logistical issues that affected the import and export of goods.

Global events, especially those involving conflict, influence consumer sentiment. If consumers are concerned about the origin or safety of products, it impacts their willingness to purchase aloe vera products. Wider economic impacts stemming from the conflict, such as fluctuations in oil prices or economic instability in neighboring regions indirectly affect consumer purchasing power and, subsequently, demand for aloe vera products.

By Type
• Gel
• Juice
• Powder
• Capsule
• Others

By Category
• Organic
• Conventional

By Distribution Channel
• Supermarket and Hypermarket
• Specialty Stores
• E-commerce
• Others

By End-User
• Food Industry
• Pharmaceuticals Industry
• Cosmetics Industry
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• On July 13, 2022, ECOCERT-certified organic beauty and personal care company Organic Harvest has introduced a brand-new line of organic aloe vera gel. The brand-new Organic Aloe Vera Gel, which comes in 4 different variations, is suitable for people of all ages and genders with diverse skin and hair types.
• On May 14, 2022, Forever Living Products International, a health and beauty product company launched DX4, a new product line in the market. The newly launched products include forever therm plus, forever duopure, forever multi fizz, forever lemonblast, forever sensatiable, forever plant protein and forever aloe vera gel.
• In May 2022, Juicy Chemistry launched another line of cutting-edge products after the successful debut of their naturally activated serums line. The company, which introduced the first line of certified organic skin, hair and body care products in India, presented its new multipurpose aloe vera gel and juice.

Why Purchase the Report?
• To visualize the global aloe vera products market segmentation based on type, category, distribution channel, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of aloe vera products market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global aloe vera products market report would provide approximately 69 tables, 70 figures and 190 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies