Aloe Vera Gel Market

Aloe Vera Gel Market Overview

The global aloe vera gel market is estimated at USD 337.7 Millionin 2022 and is projected to reach USD 712.3 Million by 2032, at a CAGR of 7.8% from 2022 to 2032. Globally, the market is estimated to create an absolute $ opportunity of about USD 374.6 Million by 2032.

Attribute	Details
Market Size Value in 2022	USD 337.7 Million
Market Forecast Value in 2032	USD 712.3 Million
Global Growth Rate	7.8%
Forecast Period	2022 to 2032

Consumers are increasingly shifting their preference towards healthy lifestyles and practices such as gymming, yoga, and healthy food consumption. This has led to an increase in the demand for health-related products such as organic food and natural ingredient-based cosmetics.

One such product is aloe vera gel. Companies across the pharmaceutical, cosmetic, and food industries are increasingly launching aloe vera gel-based products to leverage the potential opportunity offered by this consumer segment, owing to the various health benefits offered by aloe vera gel containing significant amounts of essential nutrients such as vitamins, amino acids, enzymes, sugars, and hormones.

How The Market Progressed Till June 2022?

Particulars	Details
H1 2021	7.7%
H1 2022 Projected	7.8%
H1 2022 Expected	8.6%
BPS Change	- 85.8 ↓

FMI presents a half-yearly comparison analysis and review of the market growth rates and further development prospects in the global market. The market is predominantly influenced by certain demographic and innovation factors under the subjective impact of macro and industry factors.

Some new developments that have taken place in these markets include:

• Aloe vera gel is derived from the inner leaf of the plant, comprising majorly of water content and minerals, hormones, enzymes, vitamins, amino acids, and sugars in small amounts, and is gaining popularity worldwide owing to its herbal, medicinal, and remedial properties.
• The nature of aloe vera gel makes it a profoundly trend-driven market, and has a lucrative potential to grow in the coming years.
• The rising consciousness among consumers to look good and enhance their outer appearance has led to the growth of the cosmetics and personal care industry, thus, paving the way for the aloe vera gel market.

The global market for Aloe vera gel is witnessing H1 2021 growth at the magnitude of 7.7%. However, this growth is not evenly spread across all regions, with the developing markets recording higher growth rates of 8.6%. Thus, leaving the gap of -85.8 BPS points between expected and projected growth during H1 2022.

Key reasons for this change in growth rate are attributed to slow/rapid uptake of the market during the first half of the forecast period owing to improving end-user demand in key economies and their booming populations.

In particular, China and India are both seeing an increase in their consumption pattern which is resulting in increased demand for the Aloe Vera Gel market. Additionally, many other market segments are expected to perform fairly and attain promising growth prospects in the next half of the projection period.

Despite these positive prospects, there are some likely challenges that stay ahead for the industry including the shift in consumer preferences, stringent trade barriers, low degree of security in raw material supply, and other manufacturing inputs.

2017 to 2021 Aloe Vera Gel Market Outlook in Comparison to 2022 to 2032 Growth Forecast

Future Market Insights projects the aloe vera gel market to remain steady, exhibiting growth at 7.8% CAGR between 2022 to 2032 in comparison to the CAGR of 6.6% posted between 2017 to 2021.

Rising consciousness among consumers to look good and enhance their outer appearance has led to the growth of the cosmetics and personal care industry, thus, paving the way for the aloe vera gel market. Further, increasing awareness among consumers about the ill-effects of chemically-composed cosmetic products has fuelled the market for aloe vera gel possessing several medicinal and herbal properties.

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Despite having a lower market value share of about 20%, distribution through e-retail channel is projected to remain the fastest growing channel of aloe vera gel market with a CAGR of 10.4% over the forecast period (2022 to 2032).

This can be attributed to upgrading technology and an increasing number of consumers using the Internet and smartphones for shopping varied products such as cosmetics, toiletries, food and beverages, and fast-moving consumer goods. All the above-mentioned factors are predicted to result in surging demand in half a decade.

Country-wise Analysis

APAC Dominating the Aloe Vera Gel Market

The APAC region is projected to remain dominant in the aloe vera gel market throughout the forecast period, with a CAGR of 8.8%. Emerging countries such as China and India are expected to be the prominent players in the regional market owing to the rise in the cosmetic and healthcare industry in the region, increasing population, and the increasing spending capacity of consumers.

USA Being a Prominent Supplier in the Market

North America has been a prominent supplier of aloe vera gel raw material as well as end products. Majority of the key participants in the aloe vera gel market are based in North America, primarily in the United States. High presence of market players in the region is expected to boost the sales for aloe vera gel in the next five years.

Category-wise Insights

Organic Aloe Vera Gel Presiding the Global Market

By nature, the organic segment is expected to dominate the global market and is estimated to register a CAGR by value of 8.9% over the forecast period (2022-2032). This can be attributed to rising demand for organic products that offer health benefits in comparison to the conventional aloe vera gel that might contain pesticides and other harmful chemicals.

Skincare Industry Depicts Higher Contribution to the Aloe Vera Gel Market

The skincare industry is likely to show a higher contribution to the aloe vera gel market, followed by the healthcare industry. The skincare segment is estimated to acquire a market value share of about 44% by 2022 end. Owing to the escalating demand for natural and herbal cosmetic products, and growing concern among the consumers to look good, the demand for aloe vera gel is anticipated to show an impressive growth in the coming years.

Competition Landscape: Top Companies in the Aloe Vera Gel Market

There are immense opportunities for market participants in the aloe vera gel market, owing to the enormous use of aloe vera gel as a dietary supplement and as an ingredient in the cosmetic industry for the removal of acne, revitalizing skin, smoothing the skin and hair, for skin treatments, and more. Aloe vera gel is also used for juices and as a food ingredient for providing additional nutritional supplement and instant energy.

Due to various applications, an increase in the consumption of aloe vera gel can be predicted in the coming years. This is expected to provide opportunities to the aloe vera gel manufacturers to expand their operations in order to meet the uplifting demand in the market. Some of the leading manufacturers are Terry Laboratories Inc., Aloecorp Inc., Herbalife International Inc., Aroma Treasures, Nature Republic Company Limited and others.

Scope of Report

Attribute	Details
Market Size Value in 2022	USD 337.7 Million
Market Forecast Value in 2032	USD 712.3 Million
Global Growth Rate	7.8%
Forecast Period	2022 to 2032
Historical Data Available for	2017 to 2021
Market Analysis	MT for Volume and USD Million for Value
Key Regions Covered	North America; Latin America; Europe; East Asia; South Asia; Oceania and MEA
Key Countries Covered	United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others.
Key Market Segments Covered	Nature, End-Use, Distribution Channel and Region
Key Companies Profiled	Terry Laboratories, Inc.; Aloe Laboratories Inc.; Lily of the Desert; Patanjali Ayurved Ltd.; Aloecorp, Inc.; L'Oréal S.A.; Herbalife International, Inc.; Aloe Farms, Inc.; Natural Aloe De Costa Rica, S.A; Real Aloe Solutions Inc.; Now Health Group, Inc.; Aroma Treasures; Fruit of the Earth, Inc.; Nature’s Essence Pvt. Ltd.; Forever Living Products International, Inc. Nature Republic Co., Ltd.
Pricing	Available upon Request

Global Aloe Vera Gel Market by Category

By Nature:

• Organic Aloe Vera Gel
• Conventional Aloe Vera Gel

By End-Use:

• Hair Care
• Skincare
• Toiletries
• Baby Care
• Healthcare
• Food and Beverages
• Other End Uses

By Distribution Channel:

• Direct
• Supermarkets/Hypermarkets
• Specialty Stores
• Pharmacy Stores
• Convenience Stores
• Online Retail
• Other Sales Channel

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

Frequently Asked Questions

What is the current worth of the aloe vera gel market?

Currently aloe vera gel market is expected to worth around USD 337.7 Million by 2022 end.

At what CAGR is the aloe vera gel market expected to grow?

Aloe vera gel consumption is expected to grow at a CAGR of around 7.8% during the period 2022 to 2032.

How was the aloe vera gel market performing in the last few years?

In terms of revenue, aloe vera gel market grew at a CAGR of around 6.6% during 2017 to 2021

How are market players reacting to the new developments in the aloe vera gel market?

Market players are opting for mergers and acquisitions, new product launches and production capacity expansion.

How much share does the top 10 companies in the aloe vera gel market hold?

Top 10 producers of aloe vera gel including L’Oreal S.A., Patanjali Ayurved Ltd., Aloecorp, Inc., and others hold around 50-60% of the market share.

Which are the major countries driving demand for aloe vera gel?

China, India and USA are the major countries driving demand for aloe vera gel.