The size of the global aloe vera extract market is expected to be worth USD 5.8 billion by 2029 from USD 3.58 billion in 2024, growing at a CAGR of 10.12% from 2024 to 2029.
Aloe vera extract is a natural plant extract obtained from the leaves of the aloe vera plant. It has been used for centuries for its various medicinal and therapeutic properties. Aloe vera extract contains several bioactive compounds, including vitamins, minerals, enzymes, and amino acids that make it a popular ingredient in skincare, hair care, and other cosmetic products. Aloe vera extract is also used in the food and beverage industry to produce functional beverages and health supplements.
The awareness of consumers regarding the benefits of aloe vera extract, including its moisturizing, soothing, and healing properties has increased tremendously in recent years, which has resulted in the increasing demand for aloe vera extract in a range of personal care products, including skin creams, lotions, and shampoos.
The growing usage of aloe vera extract in the food and beverage industry is boosting the global market growth. Aloe vera extract is known for its antioxidant and anti-inflammatory properties and is used in the production of functional beverages and other health foods. The increasing popularity of natural and functional foods is expected to drive the demand for aloe vera extract and propel the global market growth. Moreover, the rise in health consciousness and the growing awareness about the benefits of aloe vera extract in the nutraceuticals and pharmaceutical industries are expected to drive market growth in the coming years.
Factors such as the growing popularity of herbal supplements, increasing demand for aloe vera-based beverages, the potential of aloe vera extract in anti-inflammatory and antioxidant properties, the presence of vitamins and minerals in aloe vera and shift towards eco-friendly and sustainable products are promoting the growth of the global aloe vera extract market. The growing availability of aloe vera-based products, rising consumer preference for plant-based remedies, expanding distribution channels for aloe vera products and growing awareness among people regarding the potential of aloe vera extract in weight management are contributing to the growth of the worldwide market.
The availability of synthetic alternatives is one of the significant restraints to the global market growth. Many companies are now opting for synthetic alternatives to aloe vera extract, as they are cheaper and more easily available and this has led to a decline in the demand for aloe vera extract in some industries and affected the market growth negatively. The high cost of aloe vera extract is further impeding the global market growth. The production and extraction process for aloe vera extract is complex and time-consuming, and this drives up the cost of the final product, which makes it difficult for companies to price their products competitively. The limited availability of aloe vera plants is also a considerable restraint to the global market growth as this can impact the supply of aloe vera extract. Additionally, the lack of standardization in the aloe vera extract market and the presence of counterfeit products can be a challenge for companies trying to establish themselves in the market.
The COVID-19 pandemic has had a mixed impact on the aloe vera extract market. The closure of salons and reduced consumer spending has led to a decline in demand for aloe vera extract in the cosmetics and personal care industry. However, the demand for functional beverages and nutraceutical products containing aloe vera extract has increased as consumers focus on their health and wellness. The pandemic has also highlighted the importance of natural and organic products, which could lead to increased demand for aloe vera extract in the future. Overall, the long-term impact of COVID-19 on the aloe vera extract market remains to be seen, but the industry is expected to continue to grow and evolve.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
10.12% |
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Segments Covered |
By Application, Form, End-Use, Distribution Channel, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Terry Laboratories, Aloecorp Inc., Herbalife International of America, Inc., Pharmachem Laboratories Inc., Lily of the Desert, Aloe Farms Inc., NOW Health Group Inc., Natural Aloe Costa Rica S.A., Aloe Laboratories Inc., and Foodchem International Corporation. |
The growing demand for natural and organic ingredients in beauty products and skincare formulations, the rising preference for natural cosmetics, the anti-aging properties of aloe vera, and the trend toward clean beauty are driving the growth of the cosmetics and personal care segment in the global market. Aloe vera extract is a popular ingredient in skincare and hair care products due to its moisturizing and soothing properties. It is commonly used in products such as lotions, creams, gels, shampoos, and conditioners. South Korea, which is a leading market for natural beauty products uses aloe vera extract as a key ingredient in the manufacturing of several beauty products.
The F&B segment is another lucrative segment and captured a share of 28.8% of the worldwide market share in 2023 and is predicted to grow at a promising CAGR during the forecast period. The growing popularity of aloe vera-infused beverages is primarily propelling segmental growth. The adaptability of aloe vera extract in various food applications is further boosting the growth rate of the F&B segment in the global market. For instance, the consumption of aloe vera drinks and yogurts has increased significantly in the U.S. and Europe in recent years.
An increase in the demand for skincare products, sunburn relief, and the natural and soothing properties of aloe vera gel are majorly driving the growth of the gels segment in the global market. The growing awareness of natural skincare, the rise in sunburn cases, and incorporation of cosmetic formulations are further boosting the demand for gel products and contributing to segmental growth.
The capsules segment is anticipated to account for a considerable share of the global market during the forecast period. Capsules are popular forms of aloe vera extract used in the nutraceutical industry for their health benefits.
Aloe vera is a popular ingredient in skincare products due to its moisturizing, soothing, and healing properties and is commonly used in various skincare products such as lotions, creams, and gels for treating various skin conditions such as sunburn, dry skin, acne, and psoriasis. Therefore, the demand for aloe vera extract in the skincare industry is expected to remain high in the future and drive segmental growth. Factors such as the growing awareness among consumers of natural skincare, the rise of clean beauty, and the anti-inflammatory benefits of aloe vera extracts are boosting the growth of the skincare products segment in the global market.
The haircare segment occupied 24.7% of the worldwide market share in 2023 and is predicted to grow prominently during the forecast period. An increase in the awareness among people regarding the benefits of aloe vera extract for scalp health, the rise of natural haircare, and consumer preference for plant-based ingredients are propelling the growth of the hair care segment in the global market.
Based on distribution channels, the online retailers segment is expected to account for the largest share of the global market during the forecast period owing to the growing trend toward e-commerce.
Owing to its use in traditional medicine and increasing popularity as a natural ingredient in cosmetics and personal care products. Additionally, countries like China and India have a large consumer base for health supplements and functional foods, which also contributes to the demand for the aloe vera extract market in the Asia-Pacific region. The boom in herbal and Ayurvedic products and the rise of the wellness industry in Asia are propelling the growth of the APAC market growth. China, South Korea, and India are predicted to hold the major share of the APAC market during the forecast period. Aloe vera is a major ingredient in traditional Chinese medicine and Koreans consider as a popular ingredient in the manufacturing of beauty products.
The growing consumer preference for natural and organic products, rising awareness among wellness trends, and increasing usage of aloe vera in various consumer goods in North America are driving the North American market growth. The usage of aloe vera-infused beverages has seen a significant spike in recent years in the U.S. The population of the U.S. have been consuming these drinks as an alternative to the sugary drinks.
Companies playing a key role in the global aloe vera extract market include Terry Laboratories, Aloecorp Inc., Herbalife International of America, Inc., Pharmachem Laboratories Inc., Lily of the Desert, Aloe Farms Inc., NOW Health Group Inc., Natural Aloe Costa Rica S.A., Aloe Laboratories Inc., and Foodchem International Corporation.
In January 2022, Good Glamm Group acquired a controlling stake in Organic Harvest, a certified organic beauty and personal care brand with ECOCERT certification. The investment is worth RS 72 Crores and will be used to expand the brand's presence. With this acquisition, Good Glamm Group enters the organic beauty and personal care category.
In Feb 2022, Desert Harvest announced that it is the first supplement company in the United States to ditch single-use pill bottles in favor of eco-friendly packaging solutions, marking a significant move towards more sustainable practices.
By Application
By Form
By End-Use
By Distribution Channel
By Region
Frequently Asked Questions
The global market value for aloe vera extract in 2022 was USD 3.25 billion.
The expected CAGR for the aloe vera extract market during the forecast period is 10.0%.
The cosmetics and personal care industry is estimated to have the highest market share in the aloe vera extract market.
The opportunities for the aloe vera extract market are the increasing demand for natural and organic products and the growing popularity of aloe vera extract in the nutraceutical and pharmaceutical industries.
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