Aloe Vera Extract Market Forecasts to 2028 – Global Analysis By Product Type (Aloe Vera Whole Leaf Extracts, Aloe Vera Gel Extracts and Other Product Types), By Product Form (Powder, Gel, Liquid, Capsules/Tablets, Oil, Drinks, Concentrates and Other Produ

Aloe Vera Extract Market Forecasts to 2028 – Global Analysis By Product Type (Aloe Vera Whole Leaf Extracts, Aloe Vera Gel Extracts and Other Product Types), By Product Form (Powder, Gel, Liquid, Capsules/Tablets, Oil, Drinks, Concentrates and Other Product Forms), By Distribution Channel, By Application, By End User and By Geography

According to Stratistics MRC, the Global Aloe Vera Extract Market is accounted for $2.5 billion in 2022 and is expected to reach $4.7 billion by 2028 growing at a CAGR of 11.4% during the forecast period. Aloe vera is a succulent plant from the Arabian Peninsula that is part of the lily family. Due to its therapeutic characteristics, it has been used for millennia to treat a variety of ailments and diseases. Aloe vera is also frequently used in the pharmaceutical, cosmetic, and food and beverage industries. In addition, several phytosterols, polyphenols, fatty acids, alkanes, indoles, pyrimidines, alkaloids, aldehydes, organic acids, ketones, alcohols, and dicarboxylic acids have all been identified in aloe vera leaves.

According to the Aloe Science Council (IASC), the liquid ingredient is the most commonly used commercially accessible product. According to the National Center of Biotechnology Information, 2019, aloe vera whole leaf extract revealed a strong indication of carcinogenic activity in animals such as rats.

Market Dynamics

Driver

Increasing use of aloe vera extracts in aloe-based drinks

With the growing popularity of a healthy lifestyle across all age groups, customers nowadays are gradually determining natural, organic, and more nutritional beverages. Additionally, changing consumer tendencies toward high-calorie carbonated drinks toward beneficial plant-based drinks provides profitable potential for the industry. Moreover, the fundamental ingredient of the aloe plant is its water content, which ranges from 99% to 99.5%. Therefore, these aloe-based drinks are beneficial for hydration during the summer season. Furthermore, the growing demand for weight management solutions among consumers has been one of the main factors fueling the market over the last few years.

Restraint

Adverse clinical effects of aloe vera extract to restrain the market growth

The significant human exposure and its possible carcinogenic and toxic actions are increasing safety concerns among consumers in the market. Chemical research demonstrates that the aloe vera plant comprises numerous phenolic and polysaccharide compounds, including anthraquinones. Consumption of aloe preparations is connected to hypokalemia, diarrhea, kidney failure, phototoxicity, hypersensitivity responses, and pseudomelanosis coli. Therefore, such issues are projected to have an unfavorable effect on market growth.

Opportunity

Rising demand for aloe vera in healthcare sector to propel market growth

The increasing demand for healthcare commodities derived from aloe vera extract is another important element fueling market growth. Aloe vera provides cures for different diabetes, skin, and hair ailments. Especially natural, organic, and herbal extracts are being used currently to treat a large percentage of the population suffering from diabetes. In addition, it minimizes dental plaque, helps heal canker sores, improves constipation, relieves gum inflammation, and lowers blood sugar levels. Augmented pollution, along with a shift in lifestyle, has generated an elevated prevalence of such health conditions, supporting the industry's expansion.

Threat

High cost and low return on investment

Initial high expenses and low returns on investments from the farming of aloe vera plants on limited land areas are predicted to hinder market expansion. Lack of access to the most recent innovations for the upkeep of the aloe vera extract plants at the commercial stage is also predicted to impede expansion. However, the price volatility of aloe vera-based products and complex manufacturing techniques are projected to limit the growth of the market.

Covid-19 Impact

The COVID-19 outbreak severely harmed the global consumption of the food and beverage industry. Since the beginning of 2020, the sector has demonstrated a fall in the growth rate in the first quarter. Moreover, supply chain issues were also experienced by a few aloe vera extract manufacturers, contributing to the fluctuation in raw material prices. Besides, aloe vera has already been established in the natural products market. And since the coronavirus outbreak, it has witnessed an increase in demand in places such as Europe and North America.

The liquid segment is expected to be the largest during the forecast period

Due to the growing usage of herbal and plant extracts in cosmetic items such as hair, body, and skin products. The liquid segment had the largest share in 2021 and is expected to dominate the market throughout the projection period. The product is measured as having heightened quality in terms of nutritional content. Furthermore, gel components are experiencing robust demand owing to their wide utilization in distinguishing challenges such as chemical injuries and sunburn.

The cosmetics segment is expected to have the highest CAGR during the forecast period

Owing to the rapid utilization of herbal extracts in a wide range of cosmetics and personal care products, such as hair, body care, and skin products, the market is expanding. The cosmetics segment is estimated to witness lucrative growth during the projection period. Additionally, the predominance of several skin disorders and other connected challenges has encouraged the demand for aloe vera products from cosmetic product producers, which is projected to observe a robust expansion in the coming years.

Region with largest share

Due to the expanding pharmaceutical and cosmetic industries in the region, the Asia-Pacific region dominated the market with the largest share throughout the extrapolated period. China and India are the largest revenue generators in APAC. Increasing per capita income levels associated with a growing population are predicted to increase the need for skincare and cosmetic products. However, India is the fastest-growing cosmetics market in the world. Moreover, the rising concentration of herbal product producers, such as Patanjali, Dabur, and Himalaya Drug Company, in rural areas is boosting product demand in the region.

Region with highest CAGR

Asia-Pacific is projected to have profitable growth over the forecasted period, due to an increased awareness of the advantages of aloe vera extracts. Additionally, the market expansion is being fueled by the rapidly expanding functional food sector. For instance, EVOH Bottle released an organic aloe vera juice from Harmony Green America, Inc. Furthermore, factors including rising consumer expenditure on functional foods, cosmetics, and personal care products have contributed to the need to expand the aloe vera extract market in the Asia-Pacific region.

Key players in the market

Some of the key players in Aloe Vera Extract market include Aloe Farms, Inc, Aloe Laboratories, Inc, Aloecorp, Inc., Calmino Group, Foodchem International Corporation , Lily of the Desert Organic, Natural Aloe Costa Rica S.A., Pharmachem Laboratories, Inc, Roche and Terry Laboratories.

Key Developments

In July 2022, Organic Harvest, organic beauty and personal care brand, launched an all-new range of organic Aloe Vera Gel. The product is available in four different variants.

In September 2021, Desert Harvest, a producer of nutritional supplements with a high concentration of aloe vera, has obtained approval from FDA to utilize their superior medicine, aloe vera capsules for treating Interstitial Cystitis (IC), which is a chronic bladder health condition nearly impacting 12 million people.

Product Types Covered
• Aloe Vera Whole Leaf Extracts
• Aloe Vera Gel Extracts
• Other Product Types

Forms Covered
• Powder
• Gel
• Liquid
• Capsules/Tablets
• Oil
• Drinks
• Concentrates
• Other Forms

Distribution Channels Covered
• Online
• Offline

Applications Covered
• Personal Care Products
• Beverages
• Food
• Other Applications

End Users Covered
• Pharmaceuticals
• Cosmetics
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities,Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements