Aloe Vera Extract Market Revenue to Attain USD 5.07 Bn by 2033

10 Oct 2024

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Table of Content

1. Aloe Vera Extract Market Revenue and Trends 2. Market Overview 3. Report Highlights of Aloe Vera Extract Market 4. Aloe Vera Extract Market Trends 5. Regional Insights 6. Aloe Vera Extract Market Coverage 7. Market News

Aloe Vera Extract Market Revenue and Trends

The aloe vera extract market revenue surpassed USD 2.29 billion in 2024 and is predicted to attain around USD 5.07 billion by 2033 with a CAGR of 9.22% during the forecast period. The increasing health awareness and its various medicinal properties like digestion, improving skin health, immune system and a shift towards natural and organic products is boosting the market for the aloe vera extract.

Market Overview

Aloe vera is a succulent plant which grows in the tropical regions and is mostly used for various medicinal, food and cosmetic products. It also contains substances that improve the biological activity and are mostly used many pharmaceutical and beauty industries. The extracted aloe vera is used gels, powders, drinks; capsules and consumption of these aloe vera based products provide several health benefits.

Moreover, the rising awareness among people regarding health benefits is creating demand for the products that contain aloe vera extract. They are used in food and beverages, cosmetic as they offer anti-inflammatory properties that help in reduction of acne, improving various skin problems. Also, the use of aloe vera by many pharmaceutical companies in various medicinal products as it contains antioxidant, anti-inflammatory and anti-microbial properties.

Furthermore, the shift towards the use of natural and organic products and a healthy lifestyle that gives rise for the use of plant-based drinks boost the market for the aloe vera extract. In addition, the increasing numbers of disease like diabetes, constipation, cholesterol is increasing the demand for the natural based medicinal products.

Report Highlights of Aloe Vera Extract Market

• By product type, the liquid segment dominated the market for aloe vera extract in 2023 as they offer several benefits for the skin and are adopted by various cosmetic and personal care industry. They are also cost-effective and are also used with beverages that lead to the expansion of the market.
• By application insights, the cosmetic segment led the aloe vera market in 2023, as the increasing demand for the natural skincare products is on rise. It also contains several anti-inflammatory and soothing properties and is used in creams, moisturizers, masks, lotions and sunscreens boosting the market growth.
• By distribution channel, the offline segment dominated the aloe vera extract segment in 2023, as they are easily available at the retail stores, supermarkets that help the customers to physically check the products quality that creates satisfaction among the consumers.

Aloe Vera Extract Market Trends

• Increasing shift towards the natural and herbal products
  • The rising preference for the natural and herbal products by various industries where in the use of aloe vera gels and leaf extract is significantly used by cosmetic industries as they offer soothing and moisturizing properties and can be used in various applications likes skincare, haircare and several other. Moreover it’s also used by many pharmaceutical companies as it has many medicinal properties that help in reducing the inflammation, improves healing, constipation and lowers the blood sugar levels.
• Rising demand for organic based dietary products
  • The increasing shift towards the healthy lifestyle demands for the organic dietary drinks creating the demand for the food and beverages companies to provides various health beneficial drinks. The aloe vera juice offers various health benefits with some essential minerals and vitamins and these aloe vera extract can be used with several dietary and beverages to meet the increasing demand.
  • For instance, F&N has launched the limited edition Muscat Grape juice drink with aloe vera bits that is made from 100% juice with no added sugar that is rich in anti-oxidants like Vitamin C, and is also beneficial for healthy diet improving the immune system.

Regional Insights

Asia-Pacific held the largest share for the aloe vera market in 2023 as the demand for the Ayurvedic medicines is on rise. Also, the countries like India and China are using aloe vera and its extract in several products and mostly used in the organic skincare products that offer several benefits to the skin. Also, the increasing population in the countries like India and China is creating the demand for the skincare products boosting the production and manufacturing of the herbal products.

For instance, 1NE fruit juice has launched its authentic and ever-refreshing drinks and its newly launched Aloe vera and coconut flavor that are known for their nutrient and immune boosting abilities.

On the other hand, North America is observed to grow at the fastest rate in the aloe vera extract market during the forecast period. Being one of the most prominent components in the cosmetics and personal care industry, the demand for aloe vera extract is expected to grow in the upcoming years. The high prevalence of psoriasis and eczema in the region is observed to promote the market’s expansion in the upcoming years.

Aloe Vera Extract Market Coverage

Market News

• In August 2022, Faces Canada launched a new pink Aloe Vera skin acre range with new and advanced hydration properties that will soothe, cool and hydrate skin with deep-acting nutrients and has various anti-oxidants and vitamins properties.
• In April 2024, P&G has launched its Evion cream with goodness of vitamin E and Aloe vera for a radiant nourished and glowing skin that has anti-oxidant properties with soothing properties.

Market Segmentation

By Product

• Liquid
• Gel
• Powder

By Application

• Cosmetics
• Pharmaceuticals
• Food and Beverages

By Distribution Channel

• Online
• Offline

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