Aloe Vera Extract Market Size, Share & Trends Analysis Report By Product, By Application (Food & Beverages, Pharmaceuticals, Cosmetics), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2024 - 2030

Aloe Vera Extract Market Size, Share & Trends Analysis Report By Product, By Application (Food & Beverages, Pharmaceuticals, Cosmetics), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2024 - 2030

Aloe Vera Extract Market Growth & Trends

The global aloe vera extract market size is expected to reach USD 3.80 billion by 2030, registering a CAGR of 9.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising importance of herbal extracts owing to their potential benefits in preventing various health disorders is driving the product demand. Moreover, shifting consumer preference for natural and organic products over chemical-based products is expected fuel the demand further.

Juice/liquid product segment held the largest share in the global market in 2018 due to increased consumption of juice for the treatment of obesity and diabetes in countries, such as India and China. Gel segment is witnessing a significant growth due to rising demand for gel-based products, such as soaps, shampoos, and moisturizers. Online distribution channel segment is expected to witness the fastest growth over the forecast period. In Europe, around 50% of cosmetic manufacturers have their own online distribution channel.

Various small-scale organic product manufacturers sell their products through their own websites. These factors are driving the segment growth. Moreover, increasing penetration of smartphones coupled with the digitalization has increased the scope of online channels. In the European market, Germany account for the highest share of this segment. Asia Pacific led the global market accounting for 30.6% of the overall market share. The region is expected to maintain its dominance over the forecast period owing to increasing demand for herbal cosmetics in the region.

China held the major share of Asia Pacific market in 2018 and is likely to expand further at a CAGR of 8.9% from 2019 to 2025. Aloe Vera juice is used for the treatment of diabetes, cancer, and obesity. Increasing prevalence of diabetes in the country is expected provide growth opportunity for the market over the forecast period.

Aloe Vera Extract Market Report Highlights

• The liquid segment dominated the market and accounted for a market revenue share of 63.9% in 2023. Liquid extracts can be easily incorporated into juices, beverages, cosmetics, and pharmaceuticals.
• The gel segment is expected to register the fastest CAGR of 9.9% during the forecast period. Aloe vera gel is eminent for its soothing, moisturizing, and healing properties, making it a favored ingredient in skincare routines.
• Cosmetics segment accounted for the largest market revenue share in 2023. Aloe vera extract is known for its exceptional moisturizing properties, making it a sought-after ingredient in skincare and cosmetic products.
• The pharmaceuticals segment is anticipated to grow significantly during the forecast period.
• The offline distribution channel segment accounted for the largest market revenue share in 2023. Physical retail environments offer unique opportunities for brands to engage with consumers through live demonstrations, product samples, and special promotions.
• The online distribution channel segment is expected to register the fastest CAGR during the forecast period.
• Asia Pacific aloe vera market accounted for the largest market revenue share of 31.5% in 2023. Aloe vera has been used in traditional medicine systems such as Ayurveda in India and Traditional Chinese Medicine (TCM) for centuries.

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